The Small Business Cash Flow Crisis

THE SMALL BUSINESS CASHFLOW CRISIS GETTING PAID ON TIME IN AUSTRALIA IS HARDER THAN EVER 62% of small businesses in Australia experience late payments. Late payments have left Australian small businesses trapped in a cycle of unhealthy cash flow. of small business 28% owners name late OVERDUE payment as their BIGGEST barrier to growth. The average number of days taken by Australian businesses to pay their bills is... 54 Days An estimated $19 billion is annually locked away from businesses beyond the 30 day payment term. %$4 5 Tips For Small Business Owners Assess risk very closely before 1. extending credit to new or existing customers 4 Keep accurate records of all accounts receivable Establish a follow-up system 5. and implement it straight Have a clear and concise 2. terms of payment away 3. Invoice straight away SOURCE: Dun & Bradstroet, Trade Payments Analyala, December Quarter 2012 Cashflow Manager www.cashflow-manager.com.au