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Contractors Urged to Pay Invoices on Time–Or Be Put on Notice

Contractors Urged to Pay Invoices on Time–Or Be Put on Notice

The Australian government is beginning their crack down on late payments and it seems at the top of their list are the biggest players of the building industry. In an interview with the Australian Financial Review, Australian small business ombudsman Kate Carnell said that CIMIC and other construction companies that do …

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Want to Jumpstart the AU Economy? Pay SME Invoice on Time!

Want to Jumpstart the AU Economy? Pay SME Invoice on Time!

In an article published in The Australian earlier this month, business analyst Robert Gottliebsen suggested that the best way to jumpstart the economy is to urge big companies to pay SME invoices on time. Mr. Gottliebsen pointed out that this is the perfect strategy for the government as it won’t cost the …

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New Study Reveals SMEs Losing Up to $7b from Late Payments

New Study Reveals SMEs Losing Up to $7b from Late Payments

A recent study published by accounting software company Xero revealed that SMEs lose up to $7 billion every year because larger companies fail to pay their invoices on time. This puts the value of outstanding invoices to a whopping $115 billion per year. These findings are based on Xero’s review …

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The Importance of Obtaining an ACN/ABN from Your Clients

Obtaining ACN and ABN to Improve Your Debt Recovery Efforts

Doing business needs simple due diligence, including obtaining ACN or ABN from your clients. Imagine dealing with a company for several years. You noticed that in recent months this company has increasingly delayed its payments. Until the company totally stopped making payments. You hired a professional debt collection company to …

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Commercial Credit Defaults: How They Can Affect Your Business

Commercial Credit Defaults: How They Can Affect Your Business

Many people make the mistake of shrugging off a credit default, mainly because they don’t fully understand how such a record can affect their financial future. But credit defaults come with grave consequences and they should not be taken lightly. What Is a Credit Default? By definition, a commercial credit …

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