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What's New At Credit Matters?

What's New At Credit Matters?

First, our apologies for the late supply of our September newsletter, a little technology glitch caused the problem which has since been fixed.

At the moment, due to a change of circumstances, all good, we are working on the development of a new format and operations for Credit Matters. This process will take a little time.

In the meantime, we will continue to send our monthly newsletters and if you would like to promote your business services you can still contact Kim at

In addition, Kim is still available to help with your questions and concerns if you need any assistance. After all the real recession, although it is not the “officially recognised recession” one, is gaining momentum and therefore it may be wise to contact Kim to see if he can assist.

Please note it doesn’t hurt to make contact if you have any questions or realise you need help. It will hurt however, if there are actions you could have taken but didn’t because you didn’t ask for help, or ask the questions that are worrying you.

Attached are two more important reports from The Australian Small Business and Family Enterprise Ombudsman.

Quote Of The Month

Quote Of The Month

The death of democracy is not likely to be an assassination from ambush. It will be a slow extinction from apathy, indifference, and undernourishment. Robert M. Hutchins

Monthly Business Observation

Monthly Business Observation

You might well ask what this quote has to with business? The answer, the theme of this saying, also relates to protecting the rights and assets of your business,

Many businesspeople and managers only think of the negatives of having their customers sign properly prepared trading contracts with strict payment terms. The negatives include:

(i)         the cost of having the documentation prepared by a suitably qualified lawyer;

(ii)        to ensure the documents have been properly signed by the customer; and

(iii)       if the documentation is not properly signed, the associated time and emotional issues on whether it is worth the risk of having the documents signed properly;

(iv)       deciding and then insisting that the documents be signed and returned before any goods or services are supplied.

In addition, there are the emotional and dollar costs which need to be paid when it comes to enforcing the contract if the customer does not pay. These negative factors are:

(i)         wasting time in first sending the customer’s account for debt collection because the supplier doesn’t want to “upset” the customer, and then if the account is not paid;

(ii)        whether or not to commence legal action because of the perceived lack of success of forcing the customer into paying the debt by legal action.

What is often forgotten by management and business owners, is that these actions are all focused on asset protection. When this aspect is forgotten, and your business’s rights are not enforced, then this means all the previous costs to the final stage are wasted. In addition, over time debtors also learn they can steal from your firm with a minimum of cost to themselves.

The similar nature of not protecting democracy and your business’s rights, are therefore the same. If you don’t fight and understand the need for protecting either, you cannot complain when they are lost.

Monthly Business Conundrum

It is the attention to details plus identifying what is right or wrong with a situation or process which is often the indication that all is not well.

Unfortunately, and all too often, the employee who discovers all is not well in the business, is often ridiculed for bringing the problem to the attention of management and for asking awkward questions.

There any many reasons for the above responses by management, and this discussion is for another occasion. The important point I wish to make in this article, the situations and awkward questions highlighted by these “annoying employees” should never be underestimated.

The two main reasons for not acting with interest and concern are as follows.

First, if a problem is highlighted and acted on, it may lead to substantial cost savings, or the identification of, or in preventing a fraud in the first place.

Second, if management treats the information provided incorrectly with ridicule or without due respect, the “annoying” employee may stop providing valuable information which leads to further unnecessary costs. Worse still, if the employee feels aggrieved enough, they may just exploit the situation for their own benefit.

It would be wise therefore, if management learnt to deal properly with those employees which others may assume to be annoying and a problem. After all, it doesn’t matter the source of the information, every opportunity highlighting a potential problem, is necessary to save costs and prevent fraud.

Monthly Business Conundrum
This Month's Business Inconvenient Truth

This Month's Business Inconvenient Truth

Many fraudsters and criminals are better businesspeople than mainstream businesspeople trying to operate legally.

If fraudsters and criminals generally are the great businesspeople, what can we as mainstream businessowners and managers learn from them?

The first factor, which is the stumbling block for most people, is that crime involves theft and deception with a good possibility of going to jail. It is these factors, coupled with the upbringing of many people, are amongst the reasons why mainstream businesspeople overlook the fact that criminals are also businesspeople.

As a result, mainstream businesspeople often overlook the factors that make crime such a profitable business enterprise. Not for one minute am I advocating that you become a criminal, what I am advocating is that you study criminals “business behaviour and attributes”.

So why are criminals so good at what they do? A review of their key attributes and operating practices of criminals includes the following.

  1. They are rarely afraid of the consequences of their behaviour.
  2. They are resilient and a knock back does not stop them trying something new.
  3. They learn from every mistake.
  4. Every act focuses on all businesses and people as potential “customers”.
  5. They understand human behaviour, and in particular, the strengths and weaknesses of their “customers”.
  6. They use the best of technology and marketing practices.
  7. They never seem to run out of cash to invest in their business.

It is these factors which make criminals such good businesspeople and are lacking in so many mainstream businesspeople these days. Make no mistake, the best of businesspeople who don’t resort to criminality, also adhere to the above attributes without going to jail.

The Australian Small Business and Family Enterprise Ombudsman are a great resource facility for Australian micro, small and medium sized businesses at

theBankDoctor offers free banking and finance advice to help small business owners get the best business banking set-up.

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Credit Matters is a financial risk management resource centre for the Australian business community. If you are in business, Credit Matters is your ideal source of financial risk management solutions.

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Future Opportunities & Possibilities

Credit Matters is continuing to grow and provide marketing and knowledge about financial risks to the Australia business community.

Futhermore, we invite marketing and knowledge ideas from our readers and contributors on how we can assist our respective firms grow. If you have any ideas, please contact me at

If you are interested in finding new ways to reach your marketplace, why not try Credit Matters. Our prices for advertising are very reasonable and advertising packages are on offer to make any cost, even more affordable. So if you are interested in reaching your customers at the right price, please contact Kim at for options.