Running a small business is bloody hard. That may be the understatement of the year, we know. But, as if there wasn’t enough to deal already, we’re now seeing a big problem facing a lot of businesses not only here at home in Australia, but also overseas. And it revolves around extending payment terms. Extending […]
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In our travels we get a lot of our members sharing stories of businesses that, sadly, go bust. The main theme that we’ve found underlies these stories of businesses going into administration is that their bankruptcy always came as a surprise. No one, on the outside at least, knew about it before it was too […]
There are a number of things that we, as humans, universally dislike: Visiting the in-laws (obviously), traffic, lukewarm coffee and the Collingwood Football Club all ranking highly in the hate stakes. Chief amongst these, however, for anyone that has ever run their own business, is asking for money from clients. It’s just downright… awkward. What […]
Think you’ve got late payers? Think again. A little story of one single late payer has come across our desk here at Late Payer List recently. It revealed a litany of instances, dozens and dozens in fact, in which a business owner hadn’t paid contractors for work that was perfectly completed on time and on budget. So, […]
Think about this for a second. Theoretically, if all of us humans somehow managed to coexist peacefully in a world without crime, we would probably have no need for criminal lawyers and solicitors. Or police and corrections officers for that matter. What with all the wrongdoers no longer wrong doing, there would simply be no need […]
Unlike all other mammals we have learnt to trust people we don’t know particularly well. We get in planes that fly at 37,000 feet designed and made by people we don’t know, we go up in buildings that we have no idea who laid the foundations of, we let doctors knock us unconscious and cut […]
Save for some Scandinavian countries, Australia is the undisputed ‘King of Debt.’ We just can’t seem to get enough of the stuff. As a people, Australians almost have the largest amount of personal debt (per person, on average) in the entire developed world. Wages growth is flat and we’re hell-bent on purchasing homes we can’t […]
What can be done about the bad rap that debt collectors get? Let’s play a game. Think about the two words ‘debt collection’ and the images that come to mind. Are those mental images of harassing phone calls? Men in trench coats knocking on front doors at all hours? Possibly even blackmail? Thought so. Let’s […]
There’s plenty of different types of software businesses need in order to function. Obviously there’s the accounting software to help spit out the balance sheets and P&L statements. There’s payroll software to make sure employees are paid correctly. And, possibly the most important, there’s apps like Candy Crush to help fight boredom throughout the day. […]
The works of a small business owner are rarely ever done. You spend all your time gaining the qualifications, then getting your product to the point that you’re ready to sell or offer it. You do so by starting with a small customer base, maybe then moving into hiring some people. That means you’re going […]
The only constant is change Heraclitus coined that phrase about two-thousand years ago. Little did he know that when it popped into his noggin how true it would be (well, he probably did. He was pretty cluey). We only need to take a look at the world around us to realise how insightful those five […]
Like the sky is blue and the grass is green, there is nothing that is more assured than the notion that if a person does an honest day’s work, there’s probably another person that will forget to pay them on time. Or worse, not pay them on purpose. It is a concept that has existed […]