If you are a sole trader, getting finance can be difficult and requires you to show that you can repay what you have borrowed. To give you a clearer picture of what’s available for sole traders and what you need to do, we take a detailed look at business loans for sole traders.
Current liabilities are what a company needs to pay within the next 12 months or within its normal operating cycle. Knowing your current liabilities is important because it enables you to plan your finances and calculate important financial ratios. Here we’ll cover a list of items that are added up to determine the total current liabilities of your business.
If you’re wondering how to get a small business loan online, this short guide will help you understand your options. There was a time when business owners would have to spend hours on paperwork and then wait weeks to see if they qualified. This all changed when lenders such as Moula made it easy to access unsecured business loans online. Here’s an overview of how to get an SME loan online.
Invoice finance is one way businesses can improve their cash flow. Also known as debtor finance, cash flow finance, invoice discounting and accounts receivables finance, the dollar amount of invoice financing at any one time in Australia is around $75 billion, which is 3 per cent of GDP. While more businesses are using debtor finance to unlock the value of their unpaid invoices to improve working capital, it doesn’t come without a cost. Let’s look at the basics of invoice finance and unpack the elements that make up its cost.
Manufacturing business loans support an important sector of Australia’s economy. Although you might have read about the decline of Australian manufacturing, the figures paint a different picture. As of November 2017, 885,000 people were employed in manufacturing in Australia. This accounted for 7% of people employed, making manufacturing the sixth largest employer. The manufacturing industry also plays a pivotal role in innovation, with 5% of sector value invested in research and development in Australia.