Unexpected shifts in how the market is doing can reduce buyer demand, which can mean less money coming in for a business. This can be a problem even for businesses that usually make a lot of money, because when they’re growing quickly, they often have to spend more money too, and this impacts cash… Read more »
A perfect economic storm of high-interest rates, cautious consumers and increased competition is likely to lead to choppy waters for the small businesses at the heart of the economy writes Emma Fawcett, General Manager, SME at MYOB. So, what can you do to avoid capsizing? MYOB’s September 2023 Small Business Health Index shows cash… Read more »
Entrepreneurship is an exhilarating journey filled with countless opportunities and challenges. Embarking on an entrepreneurial journey requires more than just a great idea and determination. Just as a fitness enthusiast carefully nurtures their body through exercise, balanced nutrition and mindfulness to thrive, in the dynamic business world, it is crucial for entrepreneurs to establish… Read more »
Slowing consumer confidence, lowered discretionary spending, cash flow hiccups and rampant inflation is wreaking havoc on Australia’s online retail sector, with nine out of ten businesses saying they expect zero sales growth in 2023. New research from parcel delivery service CouriersPlease has revealed the extent of the issue, with retailers nationwide feeling pessimistic as… Read more »
As costs balloon and consumers slash spending, preserving cash flow will be mission-critical this financial year. Without addressing seven key areas, doing that will be virtually impossible, warns Helen Baker, financial advisor and author of On Your Own Two Feet: The Essential Guide to Financial Independence For All Women. Cash flow is the lifeblood… Read more »
Starting a business is an exciting adventure, but it also comes with a lot of financial responsibilities. As an entrepreneur, you need to be aware of common money sins that can lead to financial trouble, and even business failure, writes money management expert, Jacqui Clarke. Forbes suggest that 90 per cent of new businesses… Read more »
When I ask business owners about their goals, one of the biggest things they tell me is that they want to make more money and grow their wealth. But when I then ask how much time they spend working on this goal, by getting close to the numbers and being super intentional about their… Read more »
Australian small business retailers and manufacturers are sitting on potentially significant cash windfalls, but there may be a price to pay. Research from inventory management software provider, Unleashed, shows that many businesses have overstocked by an average of $231,700 due to the supply chain issues caused by COVID-19 delays. Aussie small businesses are drowning… Read more »
It is possible to survive and thrive during difficult economic times. Businesses can take steps to get ahead during a slow-growth recovery and be ready to succeed when good times return, writes Scott Wiltshire, GM, Oracle NetSuite ANZ. In Australia, while some economists are optimistic that the country may escape an extended economic downturn… Read more »
Annual financial planning is an essential part of running a successful business as it provides insight into where money is coming from and going out and what needs to be done to hit critical goals, writes Scott Wiltshire, GM, Oracle NetSuite ANZ. As leaders create their financial checklists for the year, they should focus… Read more »
Christmas is a joyous time of year and a time for holidays in Australia! That being said, it is also a time when businesses often face cash flow challenges, writes business advisor Brad Turville. These can be due to needing to stock up on inventory before the Christmas rush, discounting, team members taking annual leave,… Read more »
Many small businesses are in it for the love not the money, but if you find yourself unable to pay yourself each month, something has to give. Brooke Vulinovich from Social Club (pictured above) based in Perth submitted just that question for our recent Kochie’s Business Builders: The Cash Flow Comeback digital masterclass panel, supported… Read more »
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