Top 5 warning signs of business failure When financial pressure is mounting, a company director has a lot of noise to deal with. In this situation, a small business owner can become blinkered and miss the obvious warning signs in front of them. The ability to identify, and act on warning signs can help a business […]
The ATO’s stronger debt collection measures The Australian Tax Office (ATO) has implemented stronger debt collection measures to counter the recent increase in tax debt of small business owners. The Sydney Morning Herald recently reported an increase in Australian tax debt to almost $20 billion, with small business taxpayers accounting for 60 per cent of […]
Five tips to secure finance for your business In today’s tough economic climate, where cash flow is critical, small business owners may consider applying for new finance or refinancing their existing facilities. If successful, the process can result in access to extra funds, lower interest rates and reduced costs – all of which can […]
Six steps to avoid Christmas insolvency Christmas can be a peak time for some small business owners, such as retailers, and a challenging time for others, such as manufacturers and service providers. It is no coincidence that the number of insolvencies for certain industries rises in February and March each year after paying wages, finance […]
Small business tax debts to be disclosed by ATO In its mid-year economic and fiscal outlook, the Australian Government announced that it will allow the Australian Taxation Office (ATO) to disclose tax debt information of businesses that have ‘not effectively engaged with the ATO’ to credit reporting agencies from 1 July 2017. Initially, this measure […]