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2. Cash is like oxygen

Every business sector has unique challenges and complexities. Although it might sound obvious, most businesses that fail simply run out of money.

Consider:

  1. Maximising returns on any surplus funds across business accounts, using a high interest, at call, online savings account
    .
  2. Streamlining your business banking by managing your everyday business finances online - helping reduce staff administration and giving you greater control 
    .
  3. Fully utilising all customer payment methods like EFTPOS, BPAY and Direct Debit; you'll enjoy faster access to your cleared funds. And provides your customers access to their preferred payment methods - making it easier to do business with you
    .
  4. Borrowing against your business sales invoices rather than your fixed assets so your financing facility can grow as fast as your business grows
    .
  5. Preserving your capital and keep your assets up to date, with many options around leasing vehicles and equipment
    .
  6. Controlling and monitoring your expenses by issuing business cards to staff
    .

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NAB's 7 principles for a successful busines