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Many credit providers rely on business credit reports to aid their decision making when assessing applications for credit.
Following the announcement of the new Federal Budget, there has been a lot of information for businesses to digest. Fortunately, amongst the changes made, there is good news for Australian small businesses looking to upgrade their capabilities.
Running a business is no small feat: it requires passion and perseverance, as well as a good head for the market. As an owner or manager, you'll be juggling responsibilities for the business' daily operations, as well as planning for the future.
Cash flow is king in any business, especially in smaller enterprises that have less financial tolerance for delay. You’ve worked hard and you want your money, so how do you keep your invoices in line without compromising your hard-earned relationships?
Credit reports can serve as valuable tools to help inform and protect small businesses. But it helps to first deconstruct how the information is derived, and understand how numerous, far-reaching and trustworthy its data sources are.
The number of insolvencies in Australia rose 13 per cent year-on-year in 2015, according to ASIC insolvency statistics released in March this year.