Olivia Tedone still remembers the weight of setting up her business. Surrounded by steel scaffolding equipment, her newborn son in her arms, she and her partner Matt invested everything they had into Tier One Scaffold.

"Purchasing our first lot of gear was a really memorable moment," Olivia recalls. "We had just had our first son while it was happening, and it was a physical representation of our investment and how we started."

That leap of faith in 2019 marked more than just the beginning of their scaffolding business, it was the moment Olivia stepped into a role that thousands of Australian women now occupy: the backbone of the nation's trade industry.

The Hidden Statistics

Today, women manage or own roughly 1 in 3 of Australia's small businesses (about 35 per cent), steering multibillion-dollar cash flows. Yet their contributions often remain invisible, relegated to "just helping out" rather than being recognised as the business leaders they truly are.

That's why communities like TradieWives are so important and Westpac is proud to team up with Verity Hare and the incredible community at TradieWives. 

"This is a movement to empower trades and build stronger communities," says Anthony Mathews, National General Manager of SME & Small Business at Westpac. “Our experienced bankers are here to help navigate banking solutions and find what works best for each business, and we're supporting the TradieWives Business Academy with expert masterclasses on challenges like cash flow."

From what started as a Facebook group is now a 45,000-strong movement: running the business side of trade operations while their partners focus on the tools.

"It seemed like everyone else was feeling just like me, seeking advice, support and connection in a pretty lonely role," says Verity Hare, founder of TradieWives.

Verity notes that the biggest misconceptions are "that we don't really do anything aside from a bit of self-taught bookkeeping, and then the rest of the time we just swan around living our best lives and having coffee with friends.” The majority take an equal role where one partner can't run the business without the other.

The Cash Flow Challenge

Westpac research shows one-third of businesses struggle with cashflow issues, with 45 per cent losing time chasing late payments, a challenge Olivia knows all too well. Her scaffolding business deals with steel, a commodity with a price that fluctuates every couple of days.

"The minute someone pays you late it has a snowball effect," Olivia explains. "I've definitely been kept up at night from the knock-on impact."

The longest she's waited for payment? Forty-five days. "You just keep working and keeping costs low. It means we can't have more employees or subbies, it's harder on the core team."

"The majority of trades have 7-day payment terms, but we are seeing on average 2-4 weeks for payments to come in. In an increasing number of cases, some even up to a year," confirms Verity.

This is where strategic banking partnerships become crucial. "We understand that cash flow challenges are often the biggest barrier to growth for trade businesses," explains Anthony Mathews. "Our role is to provide the financial solutions and expertise that allow these businesses to weather the inevitable payment delays and continue growing."

The Power of Community

The TradieWives community provides both practical support and connection for Olivia, who found her accountant through their directory. The platform offers access to money management tools and webinars on business strategy and work-life balance.

"Many women in our group will say, 'my tradie has asked me to check with the trusted TradieWives for advice,'" Verity notes. "There's growing awareness that women are often the key decision makers."

Supporting the Supporters

The Westpac-TradieWives partnership addresses unique trade business challenges, from cash flow management to tailored growth strategies.

"These businesswomen are helping to build the economic foundation of their communities," Mathews explains.

The Future of Trade

For Olivia, looking back at that moment she put everything on the line for their first equipment purchase, the journey has been worth every sleepless night worrying about cash flow.

Verity’s advice is to “surround yourself with like-minded people. Having a supportive community of people who just ‘get it’ is invaluable. Another piece of advice is to outsource where you can. Do the parts you enjoy and outsource things that aren’t your strength, it saves money and sanity. Play to your strengths.”