Australian businesses cash flow woes

Cash flow problems may come as a shock to small business.
Act now and save your self from surprises.

The recent CPA Australia Small Business Survey has highlighted that many businesses are not even aware that they could be facing cash flow problems. The survey found that 41 percent of respondents never preparing cash flow forecasts and 25 percent never chased up late payments.

CPA Australia business policy adviser Gavan Ord said, 'In the current economic climate especially, business owners don’t want to be caught short by not knowing what's going on. This survey reinforces the need for businesses to have relatively simple processes in place in order to manage their finances.”

At Businessmaster David Egerton-Warburton, Managing Director, concurs with the CPA survey results:

“We see many people who struggle because they focus on historical financial data rather than improving their business process to gain access to current information,” said David.

“That’s why we have introduced Businessmaster. It provides the daily access to the type of financial information that you need to make informed business management decisions, while still managing your daily financial needs.”

With features that include cash flow to actual comparisons, cash flow projections and a dash board snap shot of your current financial status Businessmaster provides a true window on your business.

To find out more read our FREE Reference Guide on managing  your cash flow or request an online demo or speak to the people at Businessmaster about how your business will benefit from better cash flow management.

Note:
The CPA Australia Small business survey was conducted in May 2008. It comprised a nationwide sample of 500 small businesses (up to 20 staff) and 200 CPA Australia members in public practice with small businesses as clients. A complete copy can be downloaded from the CPA Australia website.