The advent of faster, cheaper mobile data is making it easier for SME’s to stay on top of their finances which might help to improve their cash flow.
Late Payments increased during the early stages of 2017, rising to their highest level since Q3 2014 and consolidating a trend of late payment times gradually moving higher.
Late Payment times rose during the fourth quarter of 2016, marking a fitting end to a year which saw late payment times track a jagged path following two years of sustained falls.
Managing the working capital in a business can free up cash and open up opportunities.
Average business time to pay a bill in Australia is at an historic low - now 44.8 days, but New Zealand businesses pay more quickly with an average of 34.9 days.
Many businesses have surplus cash sloshing around in their accounts and don’t even know it. Identifying this money and making it work is an easy way to improve the bottom line.
Westpac Markets Update: Martina Song
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