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Ilang negosyanteng may matumal na kita, nag-aabono dahil sa hindi pa bayad na invoices
SBS Filipino
04:44
Unpaid invoices dampen the Christmas spirit.
That’s how Richard Labrador, insurance broker and risk advisor feels every time the Yuletide season rolls out. He blames client negligence or inattention as the culprit to unsettled invoices.
“I know they’re also busy with their holidays and they’re prioritising that. I understand that, which is why we end up with emails and calls to follow-up,” Labrador says.
Unpaid invoices make you feel cheated
However, if you’ve rendered the service already a few weeks ago and you don’t hear from them, it feels like you got cheated.
"I thought our dealings were good and suddenly you don’t want to pay for it. It's not a good feeling."
Labrador is part of almost half of (46%) Australian Small and Medium Businesses (SMBs) who experience financial pressure due to unpaid invoices.
Damien Greathead, Head of the Accountant and Advisor segment at Intuit Australia shares,” We have research that shows that there is a potential $22B in invoices expected to go unpaid before 25th December. This adds to the financial pressures of SMBs.”
Aside from that, almost a third of SMBs (32%) will resort to using their personal funds to offset cash deficits to keep the business afloat during the Christmas season.
Labrador wishes he would be an exemption to this, given that he just moved into a newly purchased home with a newborn in the picture. It’s a good thing, he prepared for the off-peak business season which includes the months of December and January.
"I’m spending more than what I'm earning; [but good thing is] I budgeted for the whole year and I saved up for the lean season."
An ongoing relationship
But for others SMBs that are struggling with their cash flow this Christmas season, Greathead offers this advice, ”Make sure you have a really good accountant or bookkeeper in your corner. 29% of businesses use accountants at tax time but not as an ongoing relationship throughout the year.
"There‘s a lot of value that an accountant or bookkeeper can add to your business. It will help you understand the numbers. It will help you put a cash flow plan together. Make sure you make the most out of the tools you’re using to run the backend of your business.”
