Credit Insurance – A backup plan for Tradies

Credit Insurance

It is common in business that clients may sometimes delay in paying what they owe you or even fail to pay up. The question then is, what can a tradie do in a situation where a customer fails to pay. One way to protect your business is to demand payment up front which can work for some clients but then you might end up losing business to other businesses that offer better payment terms. However, another means of protecting your business against bad debts is to get credit insurance. Credit insurance covers your business, so that you still get paid even if they go under or fail to pay you.

In growing your business, Risk Management, small business, finance, success, business advice, strategy, consulting

How To Check the Financial Health Of Your Trade Business

Understanding every aspect of your business not only ensures that you are in control of your business but also enables you to forecast and prepare it for the future. Tradies that are hands on usually focus on getting the actual work done, however, the financial side of the business needs equal attention.

In Financial Reporting, Financials, growing your business, Profit and Loss, small business, success, strategy, consulting

QBCC Licence: New Requirements

As a QBCC licence holder, you may have received a letter from the Queensland Building and Construction Commission (QBCC)  notifying the licence holder of the new annual reporting requirements. 

In Compliance, QBCC, builders