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.
Tanya Duncan and Lisa Bourne met at the gym and became good friends when their kids started school together. A fruitless search for healthy, sugar-free snacks for their kids’ lunches led the pair to co-found Funch in 2014.
Melanie Townsend grew up on a farm in Zimbabwe where fun meant cooking or baking. Learning how to make a little go a long way instilled an irrepressible creativity in her cooking, a lifelong passion for food, and led her to start two culinary schools on two different continents.
Mel's had her fair share of Catastrophic Muck-Ups. Most recently a kitchen fit out was delayed three weeks, which could've devastated her cash flow, but she saw it coming and planned ahead. And the secret to her intuition? Diligence, attention, and forecasting.
Not all debt is created equal. And not all debt is bad. This article will not champion debt as a great idea for all, but it will differentiate the different types of debt – the good, the bad, and the ugly – and how you can use debt to improve your cash flow and grow your business.
An ACCC product recall would be one of the worst imaginable catastrophic muck-ups for most brands. And it was for My Little Giggles when their Play Gym Rings were recalled and their competitors took to social media to sink the boot in while they were reeling from the ramifications of this catastrophic muck-up.
Timing is everything when it comes to cash flow. There are times when all your invoices are paid at once and your cup overfloweth. Then there are times when all your debtors are behind on their invoices and you’re hit with bills, overheads, staffing costs and it’s time to pay for the next shipment of inventory. Instead of trying to master time, here are some tips on how you can master cash flow, with first-hand advice from good business owners.
Tammy Greig knows her way around power tools. In 2015, she met up with Carla Peck and what started out as a playdate for their young daughters turned into the beginning of My Little Giggles. Carla noticed the ‘Learning Tower’ Tammy had made in her garage and saw the potential to build a brand around the problem-solving product.
Transparency can be hard to find in the business lending space. We’re so passionate about it, our favourite colour is clear. Here's our guide on how to identify a transparent business loan, and some of the dangerous practices to be aware of.
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