Late Payments and Cashflow Biggest Concerns For Tradies

By 17th July 2019News

Being paid on time, profitability and the ability to pay bills and manage their cashflow have been revealed as the top business concerns for tradies in new research from St George Bank.

The St.George Bank Tradie Economy Report released in July 2019 surveyed over 600 people across Australia who identified as a tradie. The report reveals that for both tradies starting out in the industry and industry veterans, the ability to source new customers, hire good workers, manage slow paying customers and gain better access to cashflow are crucial factors in the businesses being able to thrive and survive.

In a sign that Tradies are stressed about late payments and issues around cashflow, a quarter (24%) of respondents said they stop to think about their personal finances every day and almost half (49%) visit a financial adviser to discuss their personal finances regularly. 

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