If your focus remains solely on revenue, you may be overlooking a crucial aspect of sustainable business growth. […]
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If your focus remains solely on revenue, you may be overlooking a crucial aspect of sustainable business growth. […]
Read More… from Are You Focusing on Revenue or Are You Focusing on Profit?
As a business owner, you need to manage your cash flow, keep a close eye on your expenses, and make sure you have enough revenue to keep the business going. Follow these simple steps to stress less about money in your business. […]
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The New Year is a time to set new goals and start fresh. As a small business owner, it’s essential to stay on top of your tax and super responsibilities. Here are five new year’s resolutions to help you keep your finances in order for 2023. 1. Know if you’re in business or not:If you’re […]
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As a business owner, it’s important to prioritise good planning and spend your time wisely to focus on areas that can help your business succeed. The Australian Tax Office (ATO) recognises this and is offering two webinars in January and February to help streamline processes and improve profitability. The first webinar, “Connecting Online with the […]
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Electric cars have been gaining popularity due to their eco-friendly nature and lower operating costs. As an employer, you now have the option to provide electric cars to your employees as a tax-exempt benefit. Previously, employers were required to pay Fringe Benefits Tax (FBT) on electric cars provided to employees, but as of July 1, […]
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With recent cyberattacks exposing millions of individuals’ personal information to the World Wide Web, now is the time more than ever before to strengthen your data from future attacks. With these 3 easy steps, you can prevent your data from being leaked. 1. Update your device and applications Updates not only provide new features to […]
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Gone are the days of paper based submission and lengthy processing times. Employees can complete tax file declaration forms using their myGov linked ATO account. Once your new employees are logged into the ATO portal, all they need to do is navigate to Employment > New Employment and complete the designated form. No input will […]
Director of companies in Australia have until the 30th of November to apply for their director’s ID number. Failure to obtain a director ID before the cut-off day is an offence under the Corporations Act 2001 and can result in heavy penalties of up to $13,200 criminally or $1,100,000 civilly. In the case of intending […]
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Advertising should be viewed as an investment that should generate a return, rather than a fixed cost. Many businesses spend money on the same kind of advertising each month without knowing what is working and what isn’t. Effective advertising builds profile, generates new business, and retains your existing customers. Poorly thought out advertising can create […]
Your current business model is the way your business earns money. A change in your business model can bring substantially more income – sometimes for less work and lower overhead costs. Technologies and markets change at an ever-increasing rate, opening new growth opportunities that may just require a shift in your thinking. First, identify your […]
If you’re in retail, there’s money to be made online and it’s important your new business finds its place in the online market. Survey your regular customers Many retail businesses are now offering online shopping features. Their keys to success involve measuring the market first to make sure their time, money and effort bring about […]
Running a successful business is a juggling act between cash coming in and cash going out. If you’ve built up a cash reserve, you’ll be better able to stay in business and handle short-term issues like falling sales. Build a cash buffer Businesses generally fail because they run out of cash. Cash in the bank […]
Cash flow – the lifeblood of any business. The aim of any business owner is to have more cash coming in than is going out. You’re in business to make money, and one of the most effective ways of doing this is to examine your cash flow and look for ways to improve it. You’ll […]
Taxes – there’s no avoiding them. But there are ways to reduce the amount you have to pay so that your business is more profitable. All it takes is some preparation, planning, and the advice of a good tax specialist. So one of the first things you need to do is talk to your accountant […]
If your customers owe you money, the faster you’re able to obtain it using effective collection tactics, the better. Ideally, you want to reduce the chance of bad debts and pressure on your business’s cash flow. It can be easy to neglect managing your debtors when you’re busy growing your business, but smart credit control […]
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