The obvious aim of every business is to make money. The key here is to maximise income while minimising costs. In the wake of the 2020 pandemic, this has become so much harder for many businesses to achieve. One way to begin reducing costs is by looking at your bookkeeping. Sadly, you can't do away […]
One of the first hurdles a first-time entrepreneur would face is the whole process of employment. Hiring employees can be costly, time-consuming, and stressful if you do it incorrectly. Before hiring a new employee, it is important to know your legal responsibilities and obligations relating to pay, tax, superannuation, hours, entitlements, etc.
If your business is like most other businesses, your finance department spends the last few weeks of the year preparing the budgets for the following year. They forecast for the year ahead by using historical data to calculate projected income and costs. Every year, trading conditions and tax law evolve, meaning that this process looks […]
Small business owners face a variety of challenges when it comes to managing their finances, and debt management is one of the toughest. Customer debt can quickly spiral out of control if not managed effectively, which is why it’s important to follow effective debt management guidelines so that you can stay in control of your […]
Do You Ever Wonder If And When It's Time To Raise Your Prices? When to raise prices is a topic many of my clients struggle with. Typically, you should raise your prices anywhere between 5%-10% every year or year and a half. That sounds like a lot, and it can be. You have to take […]
Before starting a new business or expanding an existing one, you may want to create a business plan that outlines your current business model and future growth. The plan can give you a detailed map of where you are, how far you've come and where you want to be with your business. It's important to […]
These days there are numerous software programs which can help you to manage your business finances and submit your tax information to the Australian Tax Office (ATO). So, if you can do it yourself, do you need a bookkeeper? In fact, there are many good reasons why a bookkeeper is a valuable asset to you […]
Today’s market is constantly changing and evolving, and competition is fierce. Start-ups and small businesses have to work hard to gain and keep their competitive advantage. To know if your business is doing this effectively, you must keep on top of your finances. When you start your small business, having a bookkeeper or accountant to […]
To run a business successfully, you must master fiscal management. That means learning how to manage your cash flow to ensure your business grows well. Even in a challenging economic environment, there are things you can do to make sure that you're moving in the right direction. We have created a blueprint for optimising your […]
Hiring an employee can be a time consuming and expensive process as such businesses now are also considering the option were plausible to engage a contractor to perform the same work an employee would. However, a business wanting to engage a contractor instead of an employee must know the differences between the two and what […]
