Cashflow crunch coming with 30% of small businesses unaware of payday super

SMEs face cash flow pressure ahead of payday super changes

Australian SMEs should be preparing for the introduction of payday super. However, new data from a Prospa-YouGov survey shows many are unprepared. From July 1, employers will be required to pay superannuation contributions alongside wages, replacing the current quarterly payment cycle. The change is expected to affect working capital for businesses managing ongoing cost pressures. Beau Bertoli, co-founder and chief revenue officer at Prospa, sai…

Cashflow crunch coming with 30% of small businesses unaware of payday super

A cashflow crisis is looming for small businesses unaware of payday superannuation reforms, according to multiple industry reports showing few SME employers are fully aware of the July 1 transition. The post Cashflow crunch coming with 30% of small businesses unaware of payday super appeared first on SmartCompany.