A 2018 ATO report found that illegal phoenix activity was costing the Australian economy up to $5.1 billion annually. ASIC estimate that bad debts for Aussie suppliers and businesses made up over $3.4 billion of this amount.
Illegal Phoenix Activity – How to Spot the Warning Signs Read More »
Businesses in all sectors usually find cash flow the hardest to manage around Christmas and the New Year. Historically this has meant that there is a sharp spike in insolvencies and bad debts in January and February. How can your clients best protect themselves? Getting paid over Christmas and the New Year is harder than
Rising Insolvencies and Bad Debts in Australia: Why Debtor Protect Is Your Best Defence In recent years, Australian businesses have faced a growing challenge: rising insolvencies and bad debts. As economic conditions fluctuate, many companies find themselves struggling to stay afloat, leading to an increase in insolvencies across the country. For business owners, this trend
Running a small business comes with its fair share of challenges, and one of the most significant issues many business owners face is getting paid on time. Late payments can cause severe cash flow problems, disrupting your ability to pay suppliers, cover expenses, and even make payroll. If late payments are a recurring issue
5 Strategies to Ensure Your Small Business Customers Pay You on Time Read More »
In the dynamic world of business ownership and management, maintaining a stable cash flow can often be a significant source of stress. The solvency of your clients is crucial, and any disruption in their ability to pay can have dire consequences for your business. This is where bad debt protection comes into play, offering a
In the world of Australian financial services, credit insurance emerges as a pivotal tool, especially within the high-risk construction industry. With the construction sector accounting for over 30% of insolvencies nationally, the strategic management of debt and credit risks is imperative. At Debtor Protect, we specialise in protecting businesses against these risks through comprehensive credit
The green line above represents the number of insolvencies in the last 6 months compared to previous years. Over 4,995 Aussie businesses have gone broke in that time. Bad debts are costing suppliers billions of dollars. The challenges in the Australian economy are well and truely having an impact on the survival of Australian businesses.
Debtor Protect Pty Ltd is a Corporate Authorised Representative of Insurance Advisernet Australia Pty Ltd. AFSL No. 240549 Corporate Authorised Representative No. 1261654. Visit the Insurance Advisernet website.
