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3 finance and business tips for tradies
The number of tradies in training is on the decline, according to National Centre for Vocational Education Research (NCVER) data published this year. Construction enrollments are down by 11% while the number of other technicians and trades workers signing up are 14.7% lower than last year. While this isn't great news for the industry as a whole, it could provide more opportunities for existing tradies to grow their market share.
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3 tips for small businesses exploring trade finance options
Trade finance is a great idea for small importing businesses that need help with their cash flow. And it's not just small businesses - latest estimations by the World Trade Organisation indicate that as much as 90 per cent of global trade relies on this form of finance.
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6 ways manufacturing businesses can improve cash flow
In Australia, the manufacturing industry contributes $100 million to the national GDP and employs around 900,000 people, according to ABS (Australian Bureau of Statistics) data. With those figures to hand, it sounds like a profitable industry to be in. However, no matter how much money a manufacturing business earns on paper, it's good cash flow that really brings success.
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How to get ahead of your competitors in labour hire
As a labour hire firm, you need to make your mark quickly in order to get ahead of your competitors. Identifying common issues faced by both labour hire companies and the clients they serve is a crucial first step.
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Can you find the right buyers for the equipment you're selling?
When you're an equipment vendor, you want to have great customers - meaning those who will give you repeat business and pay the debts they owe.
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Can conducting due diligence on debtors improve cash flow?
Conducting due diligence is about gathering as much information as possible about the financial state of new clients. Understanding their ability to pay allows you to think about your own cash flow, and how you'll keep up with essential outgoings while waiting for them to settle what they owe.
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What can be used as security for small business finance?
No matter what type of loan you apply for, lenders or financial providers often require some form of finance security in case you default on repayments. Types of collateral accepted for small business loans range from real estate to machinery and equipment, but can be anything that the lender is able to sell on to minimise their financial loss.
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Can a small business upgrade its equipment without finance?
A small business can choose to upgrade its equipment with the working capital they have available in their accounts. However, using a finance solution protects cash reserves, ensuring the business can upgrade equipment without risking their investment power.
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Classic Funding Group joins the lending panel for Consolidated Finance Group and Platform Finance
Classic Funding Group is pleased to announce a new partnership with Consolidated Finance Group and Platform Finance as an Equipment and Business cash flow finance lender.
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How to identify your small business cash flow pressures
Identifying where your cash flow pressures are coming from is about digging deeper into your business to see what's actually happening - as opposed to what you planned for.
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