How to get the most out of your bank account

How to get the most out of your bank account

Banking is often more complicated than you expect it to be with different types of accounts, fees and fine print to take into consideration. You are able to get more out of your bank account if you pay closer attention to certain details. Re-evaluate your bank Due to the competitive market space, new offers that…

Speeding up invoice payments

Speeding up invoice payments

Taking care of invoice and billing payments can often be an onerous task for many small businesses. However, very few things are more important in the business industry than getting paid on time, since delays in payments can disrupt a business’s cash flow quite seriously. Business owners looking for best practice tips to get paid…

Which bad money habits could be getting in your way

Which bad money habits could be getting in your way

How you spend your money determines how well you can save you money. Spending more than you have or buying unnecessarily can severely impact how efficiently you can save. Sometimes you aren’t even aware of the small habits that are actually limiting your savings capabilities. Here are a few bad money habits that are getting…

Avoiding mortgage default

Avoiding mortgage default

As individuals struggle with cash flow through the coronavirus, the Australian Bankers Association records that repayments on almost 500,000 mortgages have been deferred for six months. While repayments can be delayed, they cannot be avoided altogether. Lenders can send you a default notice the day your repayment is overdue. However, they could also wait until…

Getting your money back from late paying customers

Getting your money back from late-paying customers

Businesses can be heavily impacted by customers who cannot, or simply will not pay when payment is due. A single unpaid invoice can cause issues, and the longer this debt is left uncollected, your chances of getting your money back become slim. Consider these tips to avoid and manage debt recovery to save your business…

How can you fund your business

How can you fund your business?

Turning an idea into a business requires money, and securing this stable funding is not easy. Businesses have a variety of innovative funding options today, but before you pick one, you may want to consider how well some of these methods fit your business model and if you can really benefit from them. Peer-to-peer lendingThis…

What are the different types of cashless payment methods

What are the different types of cashless payment methods?

In an effort to minimise physical contact during the global pandemic, most businesses are making the switch to cashless payments. While contactless credit cards and mobile wallet applications remain the most common type of cashless payments, many other methods have emerged in recent times. In the event that your business is also looking to make…

Avoiding bad debts from your clients

Avoiding bad debts from your clients

Running a business is challenging enough, and having to deal with bad debts can add an unneeded layer of stress for you and your team. The easiest way to handle bad debts is to avoid them in the first place – here’s how. Do a background check:Before you enter into an agreement with a client…

Creating a business cash flow forecast

Creating a business cash flow forecast

Small business owners are often faced with stressful financial decisions and periods of uncertainty. Having a cash flow forecast can help your business avoid cash shortages by allowing you to track whether your spending is on target, prepare for business expansion, plan for upcoming cash gaps and plan budgets. Here are some tips on cash…