Tax time is always fun for small businesses! If you’re getting ready to lodge your quarterly BAS then you’ve probably got a heap of questions flying around. What are the GST due dates? How often do I have to pay PAYG? What are the penalties for being late with my BAS?
There’s no question that tradies make up a huge portion of small businesses in Australia, with a lot of them being self-employed or sole contractors. But what does that mean when looking for a business loan?
One of the first (and probably most important) steps you will take in your loan process is figuring out how much, if any, you can afford to borrow.
Taking out a loan can be a bit intimidating for small businesses, particularly for newer businesses that haven’t had a loan before. There are a lot of questions you need to ask yourself before you even start looking.
Construction and technical service tradesmen make up a huge portion of the Australian workforce and a large percentage of those are small business owners or self-employed!
Whether it's for a big expansion or just some extra cash to keep things moving, odds are a small business is going to need a loan at some point in its life.
If you’ve already decided to apply for a loan to finance your business then you probably know all too well that the whole process isn’t exactly straightforward.
So, your business is travelling along nicely and you think it’s a good time to take out a loan to keep things growing steadily, or maybe even to expand. Where do you start looking?
Okay, that might be an understatement, especially if you're trying to get funding from a big bank (and get it quickly!). Accessing funding from banks is a slow and arduous process and sometimes accessing funding from non-bank lenders can also be a bit painful.
How does the accounting profession perceive data and utilise it to access funding? One of Australia’s online lending platforms to small business answers this question.
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