As a business owner in Australia, it’s really disheartening to see more money go out than profits come in within a month or debts seems inevitably growing without experiencing growth in your small business.

These are worrying moments for any type of business, but there are ways to properly manage your money so you can ensure that your business is growing at a steady rate.

Here are some of the methods you should consider when it comes to smart money management in a small business.

  1. Regularly check your accounts

You should regularly reconcile your accounts because this can put you in a better spot where you can effectively manage the odd transaction and increase your cash flow before they start to impact your financials each month. If you know how much is coming in and out each month, then you’re better placed to resolve any issues, and you can readily make a plan to avoid problems before they happen.

  1. Have a contingency plan for big clients who don’t pay or stay

You must have a contingency plan for clients who might not stay or pay you because this can surely affect your overall income. It’s essential to have a plan, and the most ideal is to use a loan product called invoice finance where you can secure the payment of invoices as soon as they are issued.

There are also other products that can help you smooth the ups and downs of cash flow, so it’s always good to do some research and other funding sources that you can use in case something happens in your day to day operation.

  1. Don’t put your house on the line

If you’re looking to take out a loan, it’s not a good idea to place your house as the main collateral, because there are lots of credit applications that will require your personal property as a guarantee against your debt. In fact, this could put your home in jeopardy if your business fails.

You need to be aware that not all business loans require this. In fact, there are loans where you can set your vehicle or equipment as the collateral to your loan. With invoice finance, the total amount of value of the invoices can be set as the security for the loan.

It’s always good to talk to your loan broker today about unsecured finance options that are available to you.

  1. Always take care of your payment obligations

If you own a small business in Australia, it’s always a good idea to report and pay GST amounts on time to the ATO because this will let you avoid any late penalty fees. You can do this online via the ATO website.

You also need to ensure that your business’s tax liabilities are reported within the correct time frames. All the information regarding your tax liabilities can be found on the ATO website.

Another thing you should always check regularly is your insurance, and you need to ensure that all your premiums are paid on time.

Always remember, there are several finance products that can help you cover all these obligations, so you can effectively preserve your cash flow, and most importantly these loans will not require your property as collateral.

  1. Always preserve working capital

In any type of business, the more assets you have as compared to what your business owes can transform to more working capital available that you can readily use to run your business. More importantly, working capital can be used to grow your business.

Always check your working capital and make sure to preserve, and there are several finance products that can help you grow your business while maintaining your current working capital.

  1. Make sure that you comply with all your obligations

As a business owner in Australia, it’s a must to comply with various legal obligations, such as ensuring the company doesn’t trade with insolvent companies or those who are unable to pay debts. You should also ensure that you have adequate working capital available, so you can easily use it for any type of situation.

If you’ve just opened your business and you’re unsure of these obligations, then you need to seek some professional financial and legal advice.

  1. Seek the help of a licensed finance broker

It’s a must that you know the right finance option for your business and its importance to your day to day needs. You can also use the business loan to grow your business over in the long run.

You must understand that there are lots of finance products and lenders out there. That is why you need to seek the help of a professional finance broker because they will provide you a finance solution that is right for your business.

Contact today; we have brokers ready to help you with your finance needs.


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Russel needed an injection of cash to pay his employees while he was waiting to be paid. We were able to have the funds in his account 48 hours after he first applied.

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Max needed funds to renovate his restaurant in NSW. He didn’t want to put his property on the line to secure a loan with the bank. We were able to get him over 100k without offering any security.

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Anna needed funds to renovate her practice in Adelaide. We were able to get her the funds she needed with only providing her business bank statements and photo ID.



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  • Level 40, Northpoint Tower, 100 Miller Street North
    Sydney, NSW, 2060
  • 1300 617 673