Menu
Social
Over the course of the Pandemic in Australia, the Government provided support to businesses such as Job Keeper payments and The Australian Tax Office (ATO) paused its debt collection activities to avoid penalising businesses dealing with temporary lockdowns and trading restrictions. Banks provided collateral waivers, extended repayment plans, and provided long grace periods for repayment plans. The strategy worked well, reflected in the low insolvency statistics and reduced trade credit insurance claims. Many companies used this opportunity to revisit their practices and improve their operations, while others continued to accumulate debt and delayed winding up activities – with major consequences for creditors and staff.
In 2021, the ATO announced plans to resume debt collection (a record amount of $55bn as of 30 June 2021) in Victoria, NSW, and the ACT. As a result, we expect to see the prevalence of insolvencies and winding up practices increase over the year ahead. With that in mind, understanding whom you are doing business with is more important than ever. Instead of trading based on trust, access to accurate intelligence is essential in identifying the risks your clients may carry.
Protecting cash flow, guarding against late and/or non-payments from customers, and securing your company’s own creditworthiness is critical to business sustainability. This article looks at two key ways you can limit your liquidity risks: credit reports and trade credit insurance.
In 2021, the ATO announced plans to resume debt collection (a record amount of $55bn as of 30 June 2021) in Victoria, NSW, and the ACT. As a result, we expect to see the prevalence of insolvencies and winding up practices increase over the year ahead. With that in mind, understanding whom you are doing business with is more important than ever. Instead of trading based on trust, access to accurate intelligence is essential in identifying the risks your clients may carry.
Protecting cash flow, guarding against late and/or non-payments from customers, and securing your company’s own creditworthiness is critical to business sustainability. This article looks at two key ways you can limit your liquidity risks: credit reports and trade credit insurance.
In 2021, the ATO announced plans to resume debt collection (a record amount of $55bn as of 30 June 2021) in Victoria, NSW, and the ACT. As a result, we expect to see the prevalence of insolvencies and winding up practices increase over the year ahead. With that in mind, understanding whom you are doing business with is more important than ever. Instead of trading based on trust, access to accurate intelligence is essential in identifying the risks your clients may carry.
Protecting cash flow, guarding against late and/or non-payments from customers, and securing your company’s own creditworthiness is critical to business sustainability. This article looks at two key ways you can limit your liquidity risks: credit reports and trade credit insurance.
In 2021, the ATO announced plans to resume debt collection (a record amount of $55bn as of 30 June 2021) in Victoria, NSW, and the ACT. As a result, we expect to see the prevalence of insolvencies and winding up practices increase over the year ahead. With that in mind, understanding whom you are doing business with is more important than ever. Instead of trading based on trust, access to accurate intelligence is essential in identifying the risks your clients may carry.
Protecting cash flow, guarding against late and/or non-payments from customers, and securing your company’s own creditworthiness is critical to business sustainability. This article looks at two key ways you can limit your liquidity risks: credit reports and trade credit insurance.
