Small businesses can grow in boom times as well as periods of difficulty by working smarter and taking advantage of opportunities. Put these effective business growth tips into practise in your business. 1. Utilise new technology Modern technology can save you time, improve productivitym reduce your operational costs, and contribute to your overall business growth. […]
So you’ve set up your business and sold some products and services. Now, you have to send an invoice to collect your payment. But what should you include on your invoices in order to get paid faster? Even if you’ve been running your business for a while, you might be missing other information that you […]
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Many small business owners tend to handle their own bookkeeping, especially when they’ve just started out. However, keeping track of the finance-side of the business– everything from income to expenses to tax compliance– can be overwhelming. Mistakes can happen quite easily and can have costly consequences to your business. Below are five of the most […]
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The Federal Budget was released on Tuesday 6th October. This article has a good summary of the “Winners and Losers” of the Budget. You’ll also find a recap of the key points below. Key Points This budget is based on economic assumptions including that there will be a COVID-19 vaccine rolled out by the end […]
Re-Engage with the ATO If your business has been impacted by COVID and deferred lodgements or payments, now is the time to re-engage with the ATO. Even if your business is still feeling the impact of COVID, the ATO is looking to re-engage to work out the next step. It may be that a […]
Most small businesses experience cash flow problems from time to time and urgently need working capital. Many business owners immediately think of the bank or loans when they’re short of money. But there are other resources you can tap before you ask for that expensive overdraft or overdraft extension. The money you need might already […]
If you don’t fit into the JobKeeper basic term for reduced turnover, you may qualify by using an alternative test. The ATO has released Alternative Tests for the JobKeeper payment which expands eligibility from the initial basic test. This is good news for many businesses, particularly startups, those affected by last year’s droughts and those […]
Our world seems to be changing every day; here’s the latest COVID-19 updates. Rental waivers and deferrals for commercial tenants Prime Minister Scott Morrison announced some new measures for landlords and tenants this week (Tuesday 7th April). The new mandatory code will apply to tenancies where the tenant or landlord is eligible for the JobKeeper […]
As we try to catch a breath from all the chaos going on with Coronavirus, the Australian Government has released their latest stimulus package called the JobKeeper payment. This package is aimed at helping businesses keep their staff, which will be a lifeline for many people over the coming months. Here a quick overview of […]
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Over the course of a few weeks nearly everyone’s business and life has been turned upside down with COVID-19. It’s been a crazy time with toilet paper shortages, businesses forced to close, an overload of information (and mis-information on social media). With the recent disruption in mind, we wanted to help support you however we […]
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It’s hard to escape the news of the Coronavirus, as it continues to have a huge impact on people across the world. Closer to home, the Morrison Government has announced a stimulus package in response to the anticipated economic downturn. This package includes a number of economic stimulus measures for the 2019/20 and 2020/21 income […]
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Do you have employees? Then you need to be ready for Single Touch Payroll! By now you may have heard the buzz around Single Touch Payroll. It’s a pretty big deal for any business that has employees. So…what do you need to know and how does it affect you? Keep reading to find out. What […]
If you’re a small business owner whose company hasn’t gone through hard times, that’s great but it’s likely to happen at some point. As much as we dream about being brilliant enough at business that we’ll never face slow times, there are many things beyond our control that can negatively affect our business. Here are […]
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Business systems are crucial for the long term success and profitability of your business. Most small business owners can’t afford to think small. They always need to keep their mind on growth strategies to help them achieve long-term goals and profitability. But becoming profitable in the first place often requires business owners to work long […]
Most small business owners who use Xero quickly master the basics. They automate processes like invoicing and payroll, track expenses and view real time financial reports. This helps to manage cash flow and make better business decisions. But what many business owners don’t take advantage of are key insights that can improve customer care and […]
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