Working in the local economy means TCS is always abreast of local economic challenges and the issues impacting Tasmanian business.
We understand the challenges you and your business face, which is why we aim to provide articles to share our knowledge with you and assist you and your business to make the best credit related decisions and lessen the risk of incurring bad debt where possible.
When relevent news comes to hand, we’ll be sure to sure it with you through our blog, below.
“Australian home builders are still struggling to complete the enormous pipeline of work they accumulated over the last two years,” stated HIA Economist, Tom Devitt.
The ABS today released its building activity data for the June Quarter 2022. This data provides estimates of the value of building work and number of dwellings commenced, completed, under construction and in the pipeline, across Australia and its states and territories.
“There were only 28,898 detached houses completed in the June Quarter 2022, 6.3 per cent down from the previous quarter,” added Mr Devitt.
“In contrast, […]
This statement might go against the popular opinion but it is worth discussion.
Taxes are not inherently bad for society. However, a lot of people mistakenly believe that there are only negative connotations associated with taxes. The reality is that taxes are a mechanism that can be used to help shape the direction of the economy and society.
Here we can see the top 5 reasons why taxes are good.
* You are in a business or company if you:
We ask for this information for the last 5 years for bankruptcies and personal insolvency agreements and 2 years for debt agreements.
Notes:
Total bankruptcies are comprised of bankruptcies by debtor’s petition and sequestration order.
State/territory “Other” includes records where no address is stated, records coded to Other Territories and […]
What is your role at TCS?
General Manager
How long have you been with the business
I started with the business in 1979 so its 43 years this year!
Tell me about your role
I’ve been fortunate to work in every area of the business and that has given me invaluable insight to assist me in my role today.
I am responsible for improving efficiency, developing strategy, setting budgets, managing contracts with our larger clients, submitting tenders, and generally overseeing operations. I have the best team of skilled people in key areas of the […]
BNPL has exploded in popularity as millennials shun credit cards in favour of the products. Globally, the BNPL industry is estimated to be worth around $US157 billion, according to the Global Payments Report, and in Australia, the BNPL market was worth around $14.2 billion in the financial year ending 2021, according to UBS.
BNPL products allow customers to receive goods and services up front, while paying for them over time. The BNPL companies usually cover the cost of the purchase and require the customer to repay the amount in instalments.
A global alliance of consumer groups […]
Strong personal loan growth constrained by decreased demand for BNPL, credit cards and auto loans. Consumer credit demand eased in Q4 2021, as factors including supply chain issues and a resurgence in COVID cases impacted consumer spending behaviour.
Equifax Quarterly Consumer Credit Demand Index: Dec 2021
Early, personal & consistent contact are our mantra for effective telephone recoveries at TCS. The earlier a problem is actioned the easier it is to resolve. Whilst there is no doubt that letters, emails and texts have their place in contacting customers for overdue payments, making the contact personal allows for honest and open communication that doesn’t rely on the same interpretation that written text does. Following up in a timely & consistent manner, when you say you will, sets the expectation that the issue is not going away […]
Kathy Waddington joined TCS in 1977, and after 45 years of diligent and exemplary service we bid her farewell and happy retirement today. Kathy will leave an indelible mark on our work family, having trained many of the staff. A friend to all, and our resident morning tea pâtissier, she will be missed but we are pleased to see other experienced staff step up to ensure coverage for all our valuable clients. Happy retirement Kathy – we will miss you!
The Australian economy is at a crucial point in its post-COVID-19 recovery. According to the March 2022 Creditor Watch Business Risk Index (BRI), Australian business activity is finally showing some signs of recovery. B2B trade activity has increased for a second month in a row – up 55 per cent on its January low (though still down 35 per cent year on year). Credit enquiries were also positive, rising 45 per cent over the last quarter. But there are also negatives. B2B trade payment defaults and court actions have […]
Often times businesses might delay their call to a professional debt collector for fear of upsetting or losing the relationship with their customer. However, generally speaking the sooner you call in the professionals the better the outcomes. As debts get older and older, we generally find that it gets harder and harder to collect, so our advice is – don’t delay, get in early!
As a first step, consistent management of your debtor’s ledger will ensure that you are aware of any issues earlier rather than later. The next step […]