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Debt management tips for business owners

As a business owner, managing finances can be a daunting task. Keeping track of expenses, payments, and cash flow can be overwhelming, especially if you’re dealing with debt too. A business loan, line of credit or a business credit card can help your company add to your team, purchase inventory, purchase equipment, and finance growth, […]

Outsourcing payroll – 5 ways it can help you

When you start a business, you’re typically your only employee and payroll is about as simple as it gets. But as you grow, you hopefully find yourself in the position of needing to take on more team members. Before you know it, what was once a very straightforward task becomes a giant undertaking that’s sucking […]

Managing Stress and Burnout

In July 2021 I had a heart attack. It wasn’t due to the usual causes of high blood pressure, high cholesterol, excess weight, etc. It was caused by stress. Yes, stress literally can kill you! I was your typical over thinker, over stresser, with a little anxiety thrown in for good measure. But after seeing […]

Superannuation Guarantee Increase – 1 July 2023

For small business owners and payroll managers, staying up-to-date on the latest superannuation changes is essential. And, with the Australian Superannuation Guarantee increase happening from 1st July 2023, it’s important to understand what this means and how it could affect your business. As an employer, this increase, and subsequent increases, will have an impact on […]

A Beginner’s Guide to a Cash Flow Forecast

Nobody wants their business to fail. Although it’s impossible to predict the future with 100% accuracy, a cash flow forecast is a tool that will help you prepare for different possible scenarios in the future. In a nutshell, cash flow forecasting involves estimating how much cash will be coming in and out of your business […]

What the 2023 Federal Budget means for you

The Australian Government unveiled its annual budget this week, which aims to stimulate economic growth, address long-term challenges, and improve social services. The budget is focused on helping with the cost of living, with tax cuts for middle and low-income earners, while also allocating funding to health, education, and small businesses. If you have any […]

Unlocking the secrets of small business cash flow

When it comes to running a small business, maintaining small business cash flow is essential for sustainability and growth. Your business can be incredibly profitable but still ultimately fail because of improper cash flow management. To prevent that from happening, here are some best practices that can help you better manage your cash flow and […]

What is a balance sheet and how does it help me manage my finances?

You’ve likely heard the phrase “in the black.” Your balance sheet is the tool that shows you whether your business is indeed “in the black.” Your balance sheet includes a section for your assets (things you own or will receive that have value), your liabilities (what you owe to others) and equity (retained earnings and […]

6 tips to reducing personal debt in 2023

2023 is expensive. The cost of living is higher than ever, interest rates keep rising, and it keeps getting harder to stay afloat, let alone get ahead. As a result, carrying debt has become commonplace. But, with the challenges of the past few years, many of us have more debt than we’re comfortable with. How […]

Tips to increase holiday engagement

The holiday season is typically busy. Take this opportunity to show clients how much you appreciate their business. After all, it’s less expensive to retain existing clients than it is to attract new ones. And, while every day is the right day to show your clients you care, the holidays might have more meaning because […]

Business tips for the end of the year

The end of the year tends to be a bit chaotic for business owners, but it’s actually a good time to get some extra housekeeping done for your business. Read on for some tips to help you finish the year neatly and feel prepared to face the new year. Review your goals and KPIs A […]

3 simple strategies for team and client retention

After my husband’s near death experience when my youngest boy was just 2 months old, our parenting philosophy became all about creating memories as a family because you just never know what’s around the corner! So we became a camping family. Before COVID threw our calendar into disarray we would take a 3-day long weekend […]

Protect yourself against theft and fraud

We’re a camping family and during a recent road trip we stopped for a couple of nights in Dubbo. We had such a cool time riding our bikes around the Dubbo zoo! But I digress… as soon as we unhooked the van at the caravan park our neighbour came to warn us about the high […]

How a heart attack improved my business

In July 2021 I had a heart attack that nearly killed me! It’s not the first “near death” experienced our family has endured but it was definitely a wake up call for me. The worst part of the 10 days in ICU wasn’t all the invasive testing, nor the uncertainty of what was happening, nor […]

What you need to know about Australia’s director ID rules

There’s a very important deadline coming up on 30th November. The ATO is urging those who haven’t yet applied for their director identification number (Director ID) to do so ASAP. The consequences for neglecting this task are severe. What is a director ID? The director ID is a mandatory 15-digit identification number given to a […]

How to register for your myGovID

myGovID is your Digital Identity and makes it easier to prove who you are online. You can use your myGovID to access participating government online services. Now don’t get confused between myGov and myGovID. myGov is where you can securely access government services online in one place including Centrelink, Medicare, Child Support, and more. Whereas […]

5 common payroll system upgrade errors to avoid

Undertaking a payroll system upgrade comes with a ton of wonderful benefits. Saving time and money, making everyone’s lives easier, and better integration are all good reasons to consider a change. But if the switch is mishandled, the results can be catastrophic and lead to long-lasting problems. Read on for some tips on how to […]

The different methods of paying your employees

There are a few different methods of paying your employees, and while they may have similarities, they each also have their own implications for your business and its employees. On top of that, there may be a blended model at play, in which you offer two types of compensation at once, such as a wage […]