Credit Matters

Your cashflow defence against profit robbers

The world has become far more complex since we first started in 2001 and getting paid quicker with less cost has never been so important.

As we have increasingly articulated over the years, Financial Risk Management is so much more than good accounting and debt collection practices. It also encompasses: Fraud Protection, Cyber Crime, Avoiding Sales & Marketing Blunders, Identifying Risk Factors such as Bad Business Practices– and so much more. Each of these factors are the Profit Robbers which destroy cash flow and profitability.

If in doubt on how to identify the Profit Robbers in your business and how to eliminate them, Credit Matters is the right starting place for you.

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Credit Matters Blog

These blogs are designed to motivate business people and other professionals to improve their business operations to better understand financial risk management issues.

Improving the way you manage your financial risk management obligations, will assist to improve sales, cashflow and profits, whilst enhancing stakeholder relationships.

Latest Blog Post:

Time is of the essence if you want to be paid and keep the funds

Kim Radok 27 October 2020

Never has it been so important to raise valid invoices promptly and get paid as quickly and effortlessly as possible. This blog provides a number of reasons and ideas to help you get paid as quickly as possible; and to keep the funds.

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Reviewing a Recession - A Calendar of Events

Reviewing a Recession
A Calendar of Events

Yes, the recession is now here and declared. However the full effects are not yet clear for every business. Despite the huge cost in commercial, social and people terms, there are always opportunities to minimise the damage or to perhaps survive and grow.

The purpose if this feature is to simply and briefly document the major events which are occurring in the hope we can all learn from this event. After all, there are many aspects of this recession which can benefit our commercial endeavours if only we can keep our minds open and emotions in-check

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A Conversation About Digital Money And The Cashless Society

Digital Money and
The Cashless Society

For some years, there’s been argument for the elimination of cash as a transaction medium. There continues to be a rightful fightback against the principle of a digital, cashless society.

Both sides of the argument have their share of highly derogatory detractors using false or misleading information. This discussion is about presenting their respective cases in a clear manner, devoid of prejudices and to review the information from a risk management perspective. After all, for many people, cash is their only and cheapest transaction medium. It is a sobering thought, that as the current recession deepens post COVID19, cash may be some peoples’ only affordable form of payment transaction medium.


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Credit Matters Information & Members Area

Free Members Area

The free Members Area includes special features which may not be available to the general public.

The fundamental purpose of our Members Area is to build an environment where business people and students can learn and understand the issues associated with financial risk management in the business environment.

Members Benefits

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Buying or Taking Over Another Business?

Taking over another business

Buying or Taking Over
Another Business

Don’t ever forget Caveat Emptor - buyer beware - always applies when buying or taking over an another business.

As a risk management professional with 50 years of experience in the world of business, I have been involved with a number of business take-overs, and started 4 businesses on my own or in partnerships

This feature is a product of my experiences and observations.

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Key Factors for Surviving the Recession

In this feature blog series we will cover what you need to do in order to survive the current recession.

Each week we will bring you practical advice and discuss a range of key factors to move your business forward in the changing economic climate.

Latest Episode:

Surviving COVID19 Recession

Episode 11. 10th Key Factor – Legally Putting Your Competitors Out of Business

Kim Radok 02 July 2020

There is no honour, or social kudos in putting your competitor out of business illegally. There may even be negative financial and legal implications if you have acted illegally.

Does that mean there are no other means to put your competitor out of business? Of course not. For instance, it is not your fault if your competitors operated improperly over the years and as a result, they go out of business.

It is also perfectly legal and practical, particularly as the recession proceeds, to want to see your competitors go out of business. After all, the number of your respective customers will likely decrease and the fewer competitors you have, the greater chance you have of making a sale. Now, I am not suggesting you deliberately target your competitors. Your primary focus must always be on survival and growth. Focusing on deliberately eliminating one or more competitors means you are not focused on your major objective of staying viable.

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The Sales and Capital Cost Replacement Calculator

Sales Capital Cost
Replacement Calculator

Due to our current circumstances around combating the COVID-19 outbreak, it’s totally reasonable to expect, or at least prepare for, a global slowdown – and even recession.

Two factors I've constantly encouraged business owners and managers to focus on – after cashflow – have always been the costs of bad debt write-offs and the cost of fixing mistakes.

Credit Matters has a produced THE SALES and CAPITAL COST REPLACEMENT CALCULATOR to identify the cost of replacing capital lost when the account is written-off or mistakes have to be processed.

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Sales cost calculator

Articles of Interest

Articles of Interest

In this forum we give you the opportunity to ask a question and have it answered In this resource section the articles on financial risk management help you understand, learn and use in your business.


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A Guide to Help Business Tradies Get Paid

Help tradies get paid

A Must Read Guide For all Tradies Operating or
Thinking of Starting a Business

on key terms and insights is both
informative & helpfulfor all tradespeople.

Get your FREE compact e-book
for your mobile or ipad today.


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This is certainly needed and valuable advice, so well done!

Having reviewed “A Guide to Help Business Tradies Get Paid”, I believe this could be a useful tool to consider for any tradie wanting to start a business.

It is easy to understand and user friendly. It provides a good guide to jump start your business and relevant topics to consider before and after starting your business.

Having this document in your phone would be a good quick reference guide.

I have been in the building industry for over 40 years and would recommend this guide.

The information included in setting up a company is really accurate. The more planning and consultation you can do before starting up the better.

Having been in business for over 40 years, I certainly agree with all the set up advice.

This is such a valuable document for any tradesperson contemplating starting a business.

It is full of information vital to establishing a business from scratch including one of the most vital aspects of business, getting paid.

I wish I had access to this information at the start of my career.

The Bureaucratic Business

The Bureaucratic business lost its way

The Bureaucratic Business
A business that has lost its way

It used to be said that there were businesses which were too big to fail. We have seen in recent times that this old saying is not always true. Today, it is sometimes seen that the bigger the business, the more likely it is to fail.

- Kim Radok

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Country Economic Update


The Country Economic Updates were first shown on Credit Matters in December 2019. As of March 2020, it would at first appear that this information will be almost meaningless moving forward. We will continue to show this information for another three months in any case. We believe it may still help you as you reflect on what improvements are required to make your business more viable in the future.

Credit Matters has put together a very basic listing of economic updates for the major trading countries and those for which have seen a change in their circumstances. The information provided is not to be relied upon on its own. It is basically a starting point if you currently do, or intend to do business with a company from an overseas country. After all, we make no comment about the influence of customs, business norms or how the legal systems operate in these countries and they may also affect your business relationships.

Country Updates

19 December 2019

Australia is said to be doing OK, albeit there are issues which affect people differently.

There is a push to make people spend more to prop up the consumer market, however Australian households are the most indebted in the world. Obviously, when you need to repay debt, you do not have the funds to spend on non-essentials.

The RBA has recently reduced the interest rate against the wishes of many business people, ordinary Australians and even a number of economists. Despite the best wishes and thinking of the RBA, people are not spending. The effect of reduced interest rates seems to be having the opposite effect to that intended. Many borrowers for instance are reducing debt instead of spending. Other people which are not spending include savers, consumers who are already overcommitted, and many other individuals who are frightened about the future.

The mining community seems to be doing well, however manufacturing is battling survive except for specialist manufacturers. The most serious problems for agriculture are the drought and bushfires. These factors are impacting negatively on income due to reduced production which affects sales both locally and internationally.

The cost of employing people is becoming prohibitively expensive, both from a direct cost and regulatory perspectives. As a result, many businesses are not employing any more people than they have to survive.

As a result, it appears the use of contractors and freelancers will probably increase, much to chagrin of the ATO and other authorities with vested interests. The use of contractors and freelancers must obviously be completed carefully and within the law.

Bank finance is less readily available after the Haynes Royal Banking Commission and many businesses are also restricting credit to only the best paying customers. This situation is further restricting business expansion and investment with the possibility of employing more people. As a result, many business people are looking at other financial options, many of which will cost more and bring further risk and problems not anticipated.

The stock sand housing markets seem to be overly expensive because many people see no other safe haven for investing. It makes sense why some people would want to repay debt or “blow” their money seeking their life’s dreams and desires at the moment. Alternatively, other people may lose all their savings as they chase more risky investment opportunities for a better return.

21 November 2019

There are a number of mixed messages coming out of China and not all are positive. The trade war is hurting both China and the US. The long term ramifications for China could be negative if suppliers from other countries build their factories outside of China or buy from other countries such as Vietnam.

In addition, China’s issues with Hong Kong are equally troubling and affecting Hong Kong’s reputation as a world class financial centre. Currently businesses are reviewing their position in Hong Kong and it appears a number are locating out of Hong Kong and headed towards Singapore. Tourist numbers are down and overseas students are fleeing Hong Kong. These factors are dramatically affecting the local business community negatively. Again, these factors do not bold well in the global scheme of things.

There are other negative issues in China as defaults are said to be on the rise as the number of orders from Western countries, the US in particular, are declining. The lack of business is starting to affect the viability of China’s manufacturing industries and employment numbers.

The situation within Hong Kong and China are not China’s only cashflow and image problem. The spending internationally as it seeks favours from smaller countries in the Pacific, Africa, and the Belt and Road Initiative, are also of concern.

Many governments in the Pacific were keen to take China’s money at first. The citizens in these countries however are not always so enthusiastic at the price they have to pay due to the influx of Chinese products which has decreased access to product diversity.

Finally, but not least, of equal concern is financial viability within China itself. There is much discussion on the status and worthiness of debt held by the major banks. This discussion includes the quality of the debt held within the shadow bank system and other finance providers which are less well regulated.

19 December 2019

India seems to be having a number of issues locally and globally at the moment as it seeks to protect its industries from a current downturn. The major concern for India is in the downturn within its construction industry and the ripple effect this has over its banks.

Notwithstanding these issues, India also has a large entrepreneurial population of business people willing to try and improve themselves.

Another advantage India has over many other countries is that many of its citizens and workers speak English, the global language of business. It also has workers which are not afraid to go to other countries because they are prepared to do the work the locals do not want to do and often fit in well with other cultures. These workers then send funds home to India which is another small but valuable income stream for the Indian community.

19 December 2019

Japan continues to struggle along under the burden of its Government and Central bank policies which are still not working. Nothing they seem to do is encouraging a growth in business and consumer confidence.

As the global economy slows down, the negative knock on affect is seen in the lack of business growth. The country has other issues dealing with an ageing population and less young women which are willing to give up their lifestyles and jobs to start a family. As a consequence, they are now allowing workers from other Asian countries into the country to do the work the Japanese don’t want to or cannot do.

19 December 2019

Singapore has not fully escaped the effects of the global business downturn.

It looks to be ideally placed however to take advantage of the problems currently occurring in Hong Kong. As a country which has a history of providing corporate and financial services, it has the most to gain from the problems in Hong Kong. In addition, as a stable environment, its tourist industries are likely to benefit from Hong Kong’s troubles.

All in all, these factors may help Singapore mitigate some of the its other issues which are causing concern as a result in the global downturn.

19 December 2019

The effect of Brexit on the United Kingdom's economy is obviously negative at the moment. Nobody quite knows what the end result will be and so businesses are reluctant to invest. With Brexit now a certainty sooner rather than later, it will be interesting to see what happens.

It may be the increase of spending to facilitate the move away from Europe, may boost economic and consumer confidence in the short term. Once Brexit happens, the business community will probably initiate more business investment because it is their nature to keep business operating properly. Business fully realises that you cannot succeed by doing nothing. Not all efforts will be rewarded positively however, but that is the price of being in business in any country.

In addition, one of the key factors which is causing concern is the effect Brexit will have on supply chains. It appears whilst British businesses are working to overcome the issues associated with supply chains, there is less effort in many European countries.

In the short term, the consumer environment will still be fragile at best. Business failures will continue to increase because many will be unable to survive until the benefits of Brexit filter through. No even the biggest firms will be exempt if their past bad business practices catch up with them.


Germany has looked to be the dominant business environment throughout Europe in the past. It now appears that it too has been negatively affected by the slowing global market as its customers in other countries gradually feel the effect of a downturn in their own countries.

Payment terms in Germany has stretched out which is unusual and a lack of trust in the commercial environment is increasing as a result.

21 November 2019

The situation currently in the US resembles a normal downturn where parts of the country are doing OK and the others less well. Business confidence however is not as strong as it might be if all was well.

The stock market is booming, however it appears to be unsustainable as it reaches new highs. Their Central Bank is also reducing rates again which is another sign the economy may be not as strong as it was earlier in the year. Again, as for central bank strategies in other parts of the world, the outcomes are not as positive as anticipated.

There are mixed messages regarding the US-China trade war. It appears there is some flow on negative effects for the US, despite small pockets of success and no positive outcomes appear likely in the short term.

19 December 2019

Of all the south east Asian countries, Vietnam seems to be doing the best of all.

Companies are taking their business out of China for a number of reasons and rebuilding their factories in Vietnam.

The main problem for Vietnam may be the conflict between its style of government versus that of Western countries. If it gets this process right, the outcome could be positive for Vietnam and those businesses which invest in Vietnam.

Professional Bodies

Professional Bodies

Joining a professional body shows you are interested in the development of your career. There will be many professionals which will not show a similar initiative. Today, you need every advantage in this very competitive business environment.

Professional bodies provide the following opportunities and advantages and an acceptance of your professional qualifications by your peers.

  • Training and conference opportunities to maintain and update your qualifications, mostly at a discounted rate to that of non-members.
  • Newsletters and magazines keep a professional in touch with current information and legislation applicable to their industry.
  • Networking opportunities enable you to meet your fellow peers and professionals from associated professions.
  • The joining fee and annual subscriptions are reasonably priced and an investment in your long-term career.

If you are not yet a member of a professional body, review the professional bodies listed with Credit Matters to add value to your career.

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Global Fraud Trends

Global Fraud Trends

In this podcast, the focus is about what finance professionals need to know about emerging global fraud trends, what they can do to protect themselves and their firms, and what the future of fraud might look like.

Fraud is on the rise across the globe. Criminals are exploiting the convergence of social media, technology, and social engineering to create more potent and widespread scams. No one, and no business, is completely safe from this new wave of fraud.

What you’ll learn from this episode:


  • The three types of fraud that are increasing around the world.
  • How criminals are exploiting data breaches to perpetuate a variety of fraud.
  • What firms should be doing to decrease their vulnerability to fraud.
  • Why insider fraud may still be a firm’s biggest risk.
  • What the future of fraud may look like.

Roger Darvall-Stevens, RSM (Melbourne)
A brief introduction to Roger Darvall-Stevens reveals he is the National Head of Fraud & Forensics Services and has over 25 years of experience in forensic investigations and forensic accounting, fraud, bribery & corruption control, related training, forensic IT, compliance (including foreign bribery and corruption risk), and corporate security.

Government Agencies

Government agencies

Government Agencies

Government agencies are a source of helpful and valuable information to mitigate some of the risks of operating and managing a business. The information is designed to help you operate within Government guidelines and Legislation. In addition, you will also find information to help you understand your rights in business.

In today's world, ignorance is no excuse.

Credit Matters has provided these access details to Government Agencies to keep yourself better informed and help you to better navigate the world of business.

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Credit Matters Testimonials