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

10 BIGGEST FINANCIAL MISTAKES BUSINESSES IN THE TRADE INDUSTRY MAKE

In Insider, Accountant, Management Software, Accounting, Bookkeeping, Brisbane Bookkeeping, Business, business growth strategies, Profit and Loss, Risk Management, sales, small business, Systems, Tradies Tax, finance, quote, business advice, strategy, quickbooks, quoting, preparation, changing accountants, profit margin, consulting, cloud solutions, industry update

Debt or Equity Finance?

Funding Your Business For Growth

Is your business starting to grow at a rapid pace and going into overdrive? Once the business experiences extreme growth, one problem that arises is cash flow or alternatively, the question of how to finance the growth. The business owner needs to look at getting capital through investment or using debt through a financial institution. This is how a business owner will finance their growth. Both debt and equity finance requires a solid business plan and a good adviser. This should include a strategy for the finance and also how the business will look 1 year down the track and 5 years down the track. Lets explore 2 options for funding business growth.

In debt, finance, equity