Treasurer Josh Frydenberg has released the 2022 Federal Budget ahead of a Federal election in a few months. This article has a summary of the “Winners and Losers” of the Budget and we’ve compiled a recap of the key points below. Get in touch with us if you have any questions. A Quick Overview Due […]
If you want your business to grow, at some point you’ll have to think how to scale your business. Scaling it isn’t exactly the same as growing it, though they are often used interchangeably. Growth refers to adding resources and increasing your revenue in a linear fashion. You double your number of offices to double […]
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Many entrepreneurs operate with their business systems and processes in their heads. They know what they need to do each day and the way they want to get things done. Unfortunately when a business grows and staff need to be hired – or the owner needs to take time away from the business – it’s […]
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If you ask 100 business owners what they like least about running a business, chances are good that bookkeeping will rank high on the list. It’s an annoying and frustrating chore that takes up a lot of time and is easy to put off until tomorrow. Avoiding your bookkeeping is a bad idea, and we’re […]
In its 2020 Budget Digital Business Plan, the Australian government announced the full implementation of the Modernising Business Registers (MBR) program. The program is designed to both establish the new Australian Business Registry Services (ABRS), and enhance how businesses register and manage their information with the government. Although the ABRS rolls out progressively between 2021 […]
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It’s that time of the year again! As we approach the end of the year, many businesses host Christmas parties and give gifts to their employees as appreciation for a year of hard work. However, some business leaders don’t understand the fringe benefits tax (FBT) implications of such. In order to avoid significant costs to […]
There’s a lot of data supporting the idea that it’s less costly, easier and more efficient to encourage repeat customers than bring in new ones. Among the stats Hubspot lists are that a 5% increase in customer retention is responsible for more than 25% increase in profit; repeat customers are 9 times more likely to […]
One classic mistake business owners make when money gets tight is to stop marketing or cut their marketing budget. At first glance, it seems logical to cut down your expenses during tough economic conditions. However, in reality, it’s the opposite of what you should do. Learn the strategies in marketing now. When your business is […]
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Starting your own business requires enough capital to ensure you can pay your bills until your company turns a profit. Depending on the type and size of your business, you may need thousands of dollars monthly to cover overhead. There are plenty of things that can help including these 5 funding options for start-ups. If […]
You’ve probably heard the maxim that it’s better to work smarter than harder. Working smarter means allocating your time, energy and money so vital tasks get done more efficiently, freeing up your personal time. Don’t miss the change to learn the 3 tips for working smarter now. Too many business owners think they must keep […]
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If you’re looking to grow your business, read the things to consider before service offerings. Adding additional services is a good way to increase your profitability, diversify your income and expand your market. But there are important things to consider before adding to your income streams. Here are 4 important things to consider before service […]
Every business needs a financial plan. Your financial plan gives you a way to monitor and review your cash flow, make adjustments to your spending, and anticipate any upcoming financial issues. It can also make you more prepared to request funding or find investors so you can bring more money into your business. Read the […]
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Running a successful business requires you to make smart decisions about everything from who you hire to how you spend your money. There are many legitimate expenses to cover, but it’s easy to overspend in areas that aren’t helping you or your business. Read the 4 money saving tips for business owners that will help […]
How to recover the business after a financial setback? You started your business with plans of earning a living and being successful, but an unfortunate fact of business life is that companies suffer financial hardships. Whether those hardships are pandemic-related or linked to other urgent situations, the effect is still the same. Your finances are […]
Your business needs cash. Cash is what keeps your company in operation and enables it to grow, so you should know how much cash your business needs to survive. Although many people think the answer is linked solely to operating expenses, this isn’t the case. There is no single factor that determines how much cash […]
Your 30s are an exciting time. You’re typically making more money than you were in your 20s and you’re looking to the future to determine the type of life you want to live. Your 30s are also a great time to take control of your finances, so you have more security and flexibility in the […]
Solid cash flow management is vital to ensuring your business survives, but not everyone understands what cash flow is or how to manage it. That’s likely what makes it a leading cause of stress for small business owners. In fact, a Capital One study found that 42% of small business owners say cash flow management […]
COVID-19 support packages are available. With COVID-19 still causing havoc around the country and with the safety net of JobKeeper no longer available, there are a number of support packages on offer by state, territory and federal governments. COVID-19 Support Packages for NSW Business The NSW Government will be offering financial support to businesses or […]