Good records save small businesses
According to the Australian Taxation Office (ATO) many small businesses fail due to poor record-keeping. Aside from the legal reasons, there are many financial reasons for making sure your books are in order.Read Full Article
Tax concessions favour small business
Every small business owner knows what it takes to turn a profit so when there’s an opportunity to increase profits by using tax deductions, grab it with both hands!Read Full Article
Getting Your Bills Paid on Time
Running your own business can be extremely rewarding but there will always be times when it will be quite the opposite. Depending on the business, many factors will determine the success or failure of a small enterprise however the most common is cash flow. Outlined below are three very simple solutions to cash flow problems to help make your business ownership more rewarding.Read Full Article
Do you really know how much your business is worth?
Many businesses for sale are listed at highly optimistic asking prices. Most business owners find it hard to be impartial because they have poured a lot of time and energy into the business and they may be relying on selling it to fund their retirement.Read Full Article
Small business owners - would your business stay afloat if you had extended time off work?
Imagine if you were in the unfortunate situation where you had to take many months or longer away from your business due to a serious illness or injury. Would revenue keep coming into the business… or would the revenue dry up without you there?Read Full Article
Small Businesses with outstanding tax debts should prepare for looming disclosure to credit reporting agencies.
In a move that could affect the credit rating of small business owners, the ATO has announced that they will be sharing data with credit agencies pertaining to tax debts from 1st July 2017.Read Full Article
Improve Your Cash-flow for a Healthy Business
Profitability is a vital component of a successful business, but without proper cash flow management your business is at risk of failing. The cycle of cash in and out of your business determines your business’ solvency. Read out top tips for maintaining a healthy cash-flow for your business.Read Full Article
How to safeguard your business if the unexpected happens
Read about how this trio of business partners navigated through the terminal diagnosis and death of one partner, and the consequences of not having adequate safeguards in place to avoid the associated problems that arose as a result of these unfortunate circumstances.Read Full Article
Running a Business? Don't let this happen to you!
Sebastian and Andrew each owned 50% of the shares in a successful manufacturing business when Andrew died suddenly. Andrew’s wife, Judy, inherited Andrew’s share of the business via his Will...Read Full Article