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Crunch time for SME’s – why March and April are critical months for businesses

CreditorWatch managing director, Colin Porter, told SmartCompany about the importance of the early months of the year in terms of cashflow for SME’s.
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Crunch time for SME’s – why March and April are critical months for businesses

5 April 2016

The main reason being tax returns are often due in March to the Australian Tax Office.

Many businesses rely on the large financial amounts for the purchase of higher cost essentials. “Tax returns are critical large payments that some businesses hope to finance through miracles,” Porter says.

Porter also added that the first quarter often presents cashflow issues if invoices in the months following the Christmas period have not been issued or paid.

“The Tax Office is generally a good creditor and will provide funding, however at certain times they won’t and don’t.”

On a personal level, business owners will usually spend the early months of the year evaluating the current state of their business.

“There can be a realisation that this is how my business is and with starting the year, they will consider what needs to be done,” says Porter.

There are a range of services that can help ensure you’re doing the right thing and fulfilling your employer obligations:

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