Angus Sedgwick is the CEO of leading Australian financing company OptiPay and has some great advice on avoiding cash flow challenges during the busy holidays ahead. Whilst some SMEs are preparing to wind down over the holiday season, for many Australian businesses this is their busiest time of the year and they’re preparing to make their biggest profits.
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The top 5 cash flow challenges facing Australian SMEs.
With access to bank finance tight and rising expenses, many small business owners are being forced to dip into their own personal savings to make ends meet.
Leading Australian business financing company OptiPay has revealed the top cash flow challenges being faced at the moment including slow paying customers and rapid expansion.
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The most appropriate source of funding to grow your start-up will depend on the stage your business is at but by exploring and utilising these different solutions, entrepreneurs can fuel their growth, drive innovation and achieve their aspirations of scaling their businesses to new heights.
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Chasing invoices is a chore for most businesses but there are simple tips to manage them effectively and take the stress out of late payments. Angus Sedgwick, CEO of leading finance solutions company OptiPay explains.
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In the USA, UK and Europe, invoice financing is one of the most utilised types of business finance due to its ease and flexibility of use, whereas in Australia it’s estimated that less than 5,000 SMB’s out of over 65,000 eligible businesses utilise invoice funding.
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