late payments

Late Payments, Cash Crunch Surge as Businesses Suffer Impact of COVID-19

Late Payments, Cash Crunch Surge as Businesses Suffer Impact of COVID-19

Late payments surged to an average of 49 days in June, according to CreditorWatch’s latest data. In comparison, debtors paid within 11 days for the same month last year. This is not surprising as COVID-19 has reportedly affected 70% of Australian small, medium, and large businesses. The increase in late payments suggests several things. This …

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More Australian SMEs Struggle to Collect Payment from Clients

More Australian SMEs Struggle to Collect Payment from Clients

Chasing after clients for unpaid invoices is not exactly the easiest thing that a business owner has to do. But it is something that comes with the territory, so they usually take it in their stride and accept the challenge. However, in the past couple of years, this challenge has …

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Xero Report Finds Many Australian SMEs Operating in the Red

Xero Report Finds Many Australian SMEs Operating in the Red

In a recent study, cloud accounting firm Xero has found that almost half of small businesses in Australia are currently operating in the red. The findings, which were published by Xero in the first ever edition of their Small Business Insights report, showed that only 50.7 percent of small businesses were …

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