As a small business owner, it’s not always easy to find the money to invest in new assets, especially if you’re just starting out. This is where asset finance can come in handy.
Choosing the right lender makes a big difference to the success of your business. But with so many different types of lenders out there, it can be hard to know where to start.
With positive cash flow you’ll weather financial storms more easily and be in a better position to take on new opportunities when they come.
Whether you’re experiencing growing pains, lean times or cash flow gaps, a loan can help your business run more smoothly. Two popular options you might consider are a business loan or a line of credit.
Banks are often seen as the ‘safer’ choice for securing finance, especially when compared to private or non-bank lenders. However, there are many myths about working with non-banks lenders that aren’t true. Avoiding non-bank lenders for a business loan could do your business a disservice.
When it comes to running a business, one of the most important investments you can make is in your company’s vehicle fleet. Whether you’re a construction company that needs trucks and heavy equipment, or a delivery service that relies on vans and trucks, having a reliable fleet of vehicles is crucial to the success of your business. A vehicle loan can help you get there.
Australian SMEs have done a great job of navigating the economic challenges of the past few years. With the continued skills shortage and a possible downturn on the horizon, small businesses still need to keep an eye on their cashflow. Here are some ways SMEs can protect themselves from credit risk and ensure they’re always paid on time.
Working capital can have a big impact on the success of your small business. In fact, lack of access to cash is a big reason why many new SMEs fail. Understanding how working capital works, and how it impacts your business is important so that you can make the best financial decisions for your business as you grow.
The Australian skills shortage list includes jobs from a wide range of industries that are struggling to find workers. Many industries in the wake of the pandemic are dealing with worker shortages. Overcoming these shortages will take some effort and a long-term approach to meeting the needs of your staff.
Loans aren’t the only way owners can fund their businesses. A line of credit is a financial option that your business can use to its advantage — and not just when money is tight. Here, we cover the basics of a line of credit and how we recommend using one to fund your business.
While getting into the transport industry isn’t difficult, truck drivers and transport operators face many barriers to expanding their business operations. Financing a fleet of vehicles or a new rig is a big decision, and new drivers can easily get caught out when it comes time to make repayments. If you are considering expanding your transport business, consider these points first before applying for vehicle finance.
Agriculture is a massive employer in Australia. The industry generates over $61 billion in revenue every year — a contribution of around 2% to the Australian economy.
The last year and a half have been difficult for businesses of all sizes. While the worst may be behind us, a recent report from the Australian Bureau of Statistics revealed that 25% of businesses reported that cash on hand was lower than usual for this time of year. Despite the recovery, decreased demand, decreased revenue and COVID-19 restrictions have impacted cash reserves.
If you’re looking to finance your business with a loan, you must understand some of the financial terminologies so you can easily compare products and feel confident discussing your loan terms with your lender.
Outstanding invoices are a huge problem for Australian SMEs. According to Debtplacer, around $9 billion of outstanding invoices never actually get paid. That’s about $3,913 for every small business in Australia. In reality, some businesses are left owing much more than a few thousand dollars.
It’s not unusual for small business owners to use their own money or take out a personal loan to fund their business. While there’s nothing wrong with this, there are many reasons why taking out a business loan is often the better option.
Applying and being approved for a business loan sounds like a chore. From paperwork to perfect credit scores and wait times, there’s a lot of misinformation surrounding small business loans that prevent SMEs from applying for them in the first place. Here are some common myths we’re busting to make the application process clearer.
Australia’s construction industry generates over $360 billion in revenue every year, producing around 9% of Australia’s GDP. Despite these vast numbers, most businesses in the construction industry operate as either sole traders or small businesses and can still run into cash flow issues. If you are a contractor, you are probably no stranger to high insurance rates, licensing and permit requirements, and the expensive cost of materials and equipment, especially when the economy experiences a downturn.
As a small business owner, managing cash flow as your business grows can be a challenge. A business loan can help bridge the gap between invoice payments, help you take on more staff or buy materials as and when you need them.
The last two years have been tough for the construction industry. Lockdowns, labour shortages, housing booms, and now supply chain problems have made keeping on top of work difficult.
Understanding working capital and how you can use it to optimize your business. Every business needs money on hand to operate, especially to cover everyday business expenses. This is where working capital is your business’s best friend.
