Business credit can be broadly defined as the funds a business borrows to operate and grow. But there are many forms of business credit to suit the specific needs of companies. These can range from a simple credit card to a large commercial property loan. Here’s a short overview of the types of business credit and how they are used.
“Everyone’s got a passion for food, everyone needs food, so it’s a market that’s always going to be there. My job now is to follow and predict food trends helping customers stay on par with a trend, as well as overseeing the supply of core ingredients to manufacturers.”
Essential Food Services was built on years of ‘blood, sweat and tears’, and it all began in 2011 after Guy and Melissa Lewis moved to Adelaide to start a family. They hadn’t planned to start a business while embarking on parenthood, but then the opportunity to buy a smallgoods company came up, and it was a perfect fit for them. Guy was experienced in transport and logistics having worked at Coles, and Melissa had a marketing background; together it provided a solid foundation to branch into the food industry.
Twenty years ago, Peter Merchant was working in South Australia’s Fleurieu Peninsula making Tuscan style pavers using local sandstone. Little did he know back then that the experience would kick off what he’s now grown to be a global business, exporting local products/stone as far as Dubai. But scaling up has meant trimming back, restructuring, and smarter spending.
“My motto is, even if you’re on the right track, if you sit there, you’ll get run over.”
Peter Merchant’s business, Maison Design, often involves importing outdoor furniture from overseas. A few times his plans were foiled when the products he imported didn't meet his expectations.
Founder and director of Cupcake Central, Sheryl Thai, started her career in Information Technology. But when the Global Financial Crisis hit in 2009, she lost her job and decided to pursue her dream of opening a cupcake store. Eight years later, she has 5 stores across Melbourne.
After six years in business, Mid Life Cycles outgrew its shop and needed a bigger and better premises. Providing a memorable and pleasurable experience for customers has always been a core focus for director Michael Catchpole. And once he found the right location, nestled in Cremorne, Melbourne, he was ready to get building, but it was a rough ride.
Director of Mid Life Cycles, Michael Catchpole, has followed two passions in his life: motorcycles and media. Around the same time he earned a journalism cadetship, he got his motorcycle license. As he built a career in media and communications, he also raced and maintained motorcycles and cars. And eight years ago, Michael decided to take his passion for motorcycles to another level. Discover the early win that kick started their growth spurt, and see why this retail business continues to grow.
Return on investment (ROI) measures investment performance. It calculates the profit as a percentage of the initial investment amount. A positive ROI means you will make more money than you invested. ROI can be the critical difference between ugly debt and positive growth.
Did you hear the ATO’s cracking down on tax debt harder than ever? Their latest approach has been to increase the number of garnishee notices they issue to business owners with outstanding tax debt. That means they could withdraw cash directly from your bank account to recover debts. Here’s what you need to know about the crackdown, and how to avoid it.
An exciting opportunity to be stocked by one of Australia’s largest online retailers seemed too good to be true. But before too long, excitement turned to despair when the retailer went into liquidation and vaporised Funch’s cash flow and growth momentum.
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