The critical issues for small business – February and March are traditionally the worst cashflow months for small business – the Christmas rush is over, the Business Activity Statement is due, and payments slow down with a dip in consumer spending. You might be ok but your customers could be under pressure and often whoever wields the most influence gets paid first.
The money people owe, in comparison to the money they earn has almost tripled in Australia over the last two decades, with average household debt currently sitting at around $245,000[1].