SEPTEMBER 2009

Survey Reveals Poor Cash Flow Tracking

Tim Reed, MYOB Australia

MYOB Australia's latest Small Business Survey shows that two companies in five are facing challenges because of the economic downturn, two are doing about the same as previously and one is doing better. But a common problem is failure to track cash flow properly, which could lead to financial disaster. Some small business people are also slow to seek professional help, because they're too busy or too proud. Many businesses have reduced their credit terms from 30 to 15 days or less. Fuel prices, pressure on margins and cash flow are seen as the biggest inhibitors to growth in the year ahead.