Written by Kelsey Miller
In this article, DelayPay co-founder Kelsey Miller discusses why he started the business and his passion for helping Australian farmers.
It’s a well-used statement, but I believe it holds true, “one of the biggest issues facing small businesses is cash flow”. In Ag this is even more so due to the lumpy nature of cash flow.
When Dwain and I first met, we instantly got talking about the issues facing the Ag sector. He was adamant this issue of cash flow was becoming bigger and bigger, especially for businesses looking to take on new opportunities that required a quick investment before a return could be locked away.
After spending 12 years in banking, I was no stranger to this. It’s no secret that it’s more difficult than ever in many business sectors to access funds, especially if you need them quickly. I had seen first-hand the endless paperwork and angst that time-poor small businesses were required to go through to access short term funding.
So at that first meeting, Dwain and I landed on common ground: we both felt it was far harder than it should be for Ag businesses to buy the things they need when they need them. And to have the time to make a return before they paid them off.
We decided to join forces: with my financial service knowledge and Dwain’s deep understanding of trading in the Ag space, we managed to put DelayPay into market – only six weeks after starting the concept.
Why DelayPay?
Twelve months on, we have learnt a lot about this business. My two biggest take-aways to date are:
- how vital service and industry knowledge are when it comes to enabling small businesses to execute something quickly, and
- how significant an impact 180 days can have on the ability of a business to take on a new opportunity.
Undoubtedly, the highlight for me has been the number of conversations I’ve had with our customers on the positive impact DelayPay has had on their businesses. I look forward to hearing plenty more, and I am pleased that an idea Dwain and I had after an animated chat one year ago is making a difference in the world of Australian Ag.
Have a chat with Dwain or Kelsey today to find out how they can help you get ahead!
Dwain: 0427011900
Kelsey: 0409117730