Fun fact of the day! How many gallons of fresh water does a good-sized iceberg (3,000 x 1,500 x 600 feet) comprise? Approximately 20 billion gallons. If 1 million people each used 10 gallons of water daily, then 20 billion gallons would meet the needs of 1 million people for more than five years. Now, imagine if you could easily transport an iceberg. That’s a lot of supply to help people who struggle to access fresh water!
Today marks International Women’s Day, a day for celebrating the wonderful social, cultural, political and technical achievements of women. Women in tech have always been pretty underrated, be it feeling pushed out of the fields of innovation, or not getting the recognition they deserve for the contributions they’ve made. So, to celebrate International Women’s Day, we wanted to do our part to recognise and celebrate these great tech pioneers, and their inventions that changed the world.
Lions love to hunt. It’s not just the “ROAR!” when they attack that motivates them, as one of my heroes Dr. Eric Thomas once said “They love the process …just as much as they love the prize.”
It’s this patient stalking of the prey, the preparation and waiting for the right moment, long before the attack which makes the hunt successful.
And so it is with selling your business. If you run a fast growing company, and are thinking you may want to exit in the next 2-4 years, your hunt begins now. That’s right, the hunt to maximise the price your business sells for begins now.
But let’s take a step back – How are businesses valued? And what can you do to increase your value?
KPMG have released their quarterly ‘Pulse of Fintech’ report for Q4 of 2016. Despite a decrease in global fintech M&A, it remains historically high with further market consolidation expected. The report has a positive outlook on both the current state, as well as the future of global fintech.
Earlier this year, Woolworths assembled a task force to look at putting all of its suppliers on 60 day payment terms. Most of their suppliers were paid on 30 day end of month terms (receiving payment on average 45 days from invoicing) and this would now be pushed out to 60 days end of month (75 days on average). Coles and Woolworths are also notorious for their penchant to drag out payments and regularly pay up to 90 days late.
Just like Nostradamus hundreds of years before us, we too look into the future to see what exciting technologies are on the horizon. We know that fintech in Australia is currently experiencing a huge period of growth, and we’re incredibly excited for what the future holds. Here are our predictions for what 2017 is going to bring for Australian fintech.
Mars have recently extended payment terms from 90 - 120 days and in doing so have done their suppliers a big favour. Why? SCF is why! While undertaking their terms extension project, Mars have wisely implemented a supply chain finance (SCF) program which they are offering to suppliers to sweeten the bitter pill that is, longer terms. SCF acts as a buffer by allowing suppliers to get paid early, in some instances as early as 12 days after invoice date. That’s 108 days before Mars is due to make payment.
With interest rates in Australia at an all-time low, many investors are understandably looking for alternative places to invest their hard-earned capital. Low returns and high fees mean every percentage point and basis point makes a difference. The growth in peer-to-peer (P2P) or marketplace lending (MPL) has firmly taken hold in many countries, including Australia, empowering investors to invest directly in non-traditional assets. Across many industries disintermediation has become de rigeur and, for investors, P2P lending the modus operandi.
Small business owners generally don’t take advantage of all the really cool (read: free) bits of software floating around the internet. If there is a need for it in your business, chances are some genius has already written the program that does it and is likely to be giving it away for free. Here’s a list of our favourite apps:
Ah! Christmas! It can be a tricky time of year for businesses, with some industries seeing exponential sales whilst others struggle to keep the lights on. Being underprepared for busy periods can be irreparably damaging to your business growth and leave customer satisfaction levels at a low. Conversely, not preparing adequately for your quiet period can see your costs running rampant and out of control. This can leave your business to be mown down like Mufasa by the stampeding wildebeest that is uncontrolled spending! With that in mind, let’s look at how not to get caught off guard.