Small business to face cash flow headache
RESEARCH from the Commonwealth Bank has revealed Australian small businesses are facing a multi-billion dollar cash flow headache.
According to the survey of over 750 small businesses, the average Australian small business that offers payment terms is currently owed $11,588 in overdue debts - almost two thirds (62 per cent) of all payments owed by customers - which means small businesses could be out of pocket to the tune of $10.4 billion nation- wide.
Queensland small businesses come in second, with 66 per cent of all debts overdue, equating to $1.9 billion.
To help businesses maintain a healthy cash flow, Commonwealth Bank teamed up with business expert Peter Switzer to create an e-book to give tips and advice.
Download your copy at www. commbank. com. au/ business/ betterbusiness/small-business-and-banking-experts/ small-business-ebook-series.html