8 Business Loan Myths Busted
Business loan myths can hold people back when they are looking for business finance. Here we'll take a closer look at these business loan myths and why they don’t stand up.
What Is a Factor Rate?
If you have researched the business finance options available, you have probably come across the term ‘factor rate’. A factor rate is a common way for pricing certain types of business finance, including short-term business loans and merchant cash advances. If you are considering a loan that is quoted using a factor rate, it’s essential that you know what it is and what you are really paying.
How to Get a Business Loan – Answers to Frequently Asked Questions
If you've never considered how to get a business loan, you probably aren’t familiar with the process or what’s required. If you are inexperienced when it comes to business loans, here we answer some of the basic questions that are asked regularly about how to get a business loan.
Commercial Loan: What Is It and How Does It Work?
Typically, a commercial loan is a large, long-term loan that can be used for a number of purposes, including buying equipment, hiring staff or purchasing commercial property. Here, we cover the details of commercial loans in Australia.
Cash Conversion Cycle: What Is It and How Can You Improve It?
The cash conversion cycle is a way to measure the amount of time it takes a company to convert its cash on hand to additional cash. The process includes purchasing or creating inventory, selling it and eventually getting paid. Here we explore how to calculate the cash conversion cycle and how to improve it.
Cost of Goods Sold and How to Calculate It
The cost of goods sold plays an important part in how your business is performing. Besides being used in calculating business profit, it can help you set prices for your products. Here we delve into the concept of cost of goods sold (COGS), how to calculate it and how to apply it.
Accounts Receivable Turnover Ratio and How to Use It
The accounts receivable turnover ratio is an accounting metric that shows how well a company collects its receivables from customers. Knowing how to calculate and interpret the ratio will help you benchmark your receivables functions and take steps to improve them.
Opportunity Cost: How Does It Impact Your Business?
Opportunity cost is a concept that considers the expected returns lost when one alternative is chosen over another. Have you ever wondered about how to calculate the benefits you are missing by choosing one option over another? This is a form of opportunity cost. Although it does not appear in your accounting transactions or financial statements, it’s important to understand what it means when making business decisions. Here we’ll explore the idea of opportunity costs and how to weigh potential returns against lost opportunities.
How to Collect Unpaid Invoices
If late payment of invoices is common for your business, you are not alone. SME owners say that 60 per cent of their customers don’t pay by the due date. If this describes your businesses, here are some tips on how to collect overdue invoices from your customers.
Federal Budget 2020: What are the Opportunities for Business Finance Brokers?
The Federal Budget for 2020-2021 released in early October included a number of developments designed to help small-to-medium businesses recover from the COVID-19 pandemic and grow. Some of these measures will motivate business owners to consider new finance options. Here we cover some of the budget measures and what they can create opportunities for finance brokers.