Small business

The Top 5 Excuses for Non Payment Heard These Before? If you’ve ever chased a late payment, you’ve likely heard one (or all) of these before: “It’s in the system.” “I never got the invoice.” “Our accounts person is away.” “Cash flow’s tight right now.” “We’ll pay you next week.”   Sound familiar? You’re not […]

Navigating Cashflow Challenges in the Australian Construction Industry Cashflow management is a critical aspect of running a successful construction business in Australia. The industry is characterised by long payment cycles, high upfront costs, and unpredictable expenses, making it challenging for businesses to maintain a steady cashflow. Research indicates that approximately 70% of Australian construction companies […]

Do you know the number 1 reason businesses fail? It’s not from lack of profitability. It’s not from a lack of customers. Or poor customer service, or bad marketing or even from negative reviews… Though all these things can contribute. No, the number 1 reason that businesses fail according to ASIC is from a lack […]

In this article we deep dive into the ideal onboarding process for new customers, why this is important, what to do and how this can impact your business.

Cashflow Masterclass – Cashflow Forecasting As part of our commitment to improving the financial wellbeing of our clients, we are educating business owners about the fundamental principles of cashflow management with our cashflow masterclass series. In this article we deep dive into cashflow forecasting, why it is so essential, how to produce a cashflow forecast […]

Cashflow Masterclass – The Cash Conversion Cycle As part of our commitment to improving the financial wellbeing of our clients, we want to educate business owners on the fundamental principles of cashflow management. In this article we deep dive into cashflow cycles and the Cash Conversion Cycle (CCC) – Why it is important, how to […]

Can you see the big picture in your business? Find out how to undertake a strategic review of your business.

For many Australian businesses, 30 June is the end of the financial year. Do you know what to do with your slow payers at EOFY?

Find out everything you need to know about the law changes regarding unfair contract terms (UCT’s) that came into effect on the 9 November 2023.

Small changes to your billing workflow can make all the difference. Tweaks to the billing process are one of the key things that can benefit businesses exponentially. The process itself can be set up to do a lot of the heavy lifting, working like clockwork to help your customers pay on time. Here are a […]

Successfully running a business is an impressive feat and challenges can be frequent, and testing. Yet through obstacles like these, you gain valuable learnings and insights into consumer behaviour, your market, and business in general. One area where you may run into hurdles is during debt recovery. Healthy cash flow is instrumental to running a […]

Managing your risk is really important. A change in a customer’s payment behaviour can be quite telling. Perhaps they have missed a payment, or you are noticing that payments that were normally timely seem to be lagging behind. When a customer’s habits do change it’s normal to have some concerns about being paid. It’s important […]

What is a Subcontractor Agreement? A Subcontractor Agreement is a legally binding contract between the head contractor and the subcontractors. This contract defines who is responsible for: The work Protection of people and property Control of employees and who pays them Materials and equipment Site cleaning Dispute resolution Programme of works and variations Insurance Licences […]

What Hire Agreement is right for your business? If you’re hiring out physical equipment, machinery or vehicles you’ll need to have a hire agreement in place, firstly to protect your assets and secondly to mitigate any risk. There are two types of hire agreements – dry hire and wet hire. To know what type of […]

Are you looking to get paid on time? End of month billing can be a daunting prospect, and there is no guarantee of on-time payment. However, by improving your billing workflow there is a greater chance of having a healthier cash flow. Here are some ways you can improve your invoicing processes. Outline your terms […]

At EC Credit Control, we’re lucky enough to work with a wide variety of businesses, big and small. From our debt resolution team to our Terms and Conditions of Trade drafters, we have borne witness to many stories of success and failure over the years. Consequently, we have some interestingly common threads. We want to […]

None of us can predict the future, however, there are plenty of practical ways to be ready. Are you looking at ways to prepare your business for the future? At EC Credit Control we tend to take a long-term view of things. By doing the same with your business and positioning it for the future, […]

They say an “apple a day keeps the doctor away”.  The same can be said for implementing good practices to keep your business thriving.  A healthy business is a successful business.   There is no one size fits all approach. However, there are proven ways to reach growth milestones. We have compiled a list of some […]

It’s not uncommon to feel uncomfortable when collecting debts. In this blog, we look at how businesses can remain professional when collecting debt. Use a digital, automated system. Using a paper system is an easy way to appear disorganised Find a system that has automated reminders Set up reminders for: Confirmation of order and payment […]

It happens time and time again. A customer has every intention of paying on time but suddenly life gets in the way and they miss a payment. Your debt recovery process is one of the key things that can benefit your business exponentially if it is jumped on early. The process itself can be set […]

Only last week, I was visited by a local lawn mowing business who was quoting to manage my property on an ongoing basis. We happily parted ways with a verbal agreement to take on the job, but I received no written quote and no terms of trade. How many times as a business have you […]

Privacy breaches are commonplace. As an organisation, you must ensure you are following procedures.  Ensuring your customer’s personal information is stored securely in addition to only using it for its intended purpose.  In this blog, we talk about the costly realities of a privacy breach, your responsibilities and how we can assist. Learn from others […]