Experts say the role of small and medium businesses in Australia’s economy cannot be underestimated.
Small businesses are one of the fastest growing segments of the Australian economy. They create employment for others accounting for over 44 per cent of total employment in the private sector.
The problem – slow payments
For people who run their own business, time is an essential ingredient and you can be robbed of time by outdated or slow payment systems.
Most small businesses only have about two months of funds in the bank, so if you have bad debts or you don’t invoice quickly or you’re slow on collecting, then your cash can diminish quickly.
The solution – smarter payment options are vital
By streamlining your payment systems you can free-up more time.
A recent bank survey found 17 per cent of business owners are using mobile applications in their business. This shows business owners are recognising the potential growth opportunities of embracing mobile technology.
Replacing clunky systems with faster, smarter programs lets you take control of your cash flow and ultimately frees you of those frustrating day-to-day financial worries.
What to do – speak to your bank today
Most banks have new payments systems that deliver modern payment solution to your business.
They usually consist of Apps and card readers that allow you to take payments, tracks sales and manage invoices at any time or any place.
Contact your bank today and ask them. If they won’t help you, we can give you more information. Click below to contact us….