Business recovery may not be the first thing you think of as you start your business day, but it should certainly be on your agenda as we come into another year of uncertainly. The COVID19 pandemic is not just a public health issue, it’s also caused lockdowns and financial worries on a global scale. Small […]
We’ve heard this before: the COVID-19 pandemic is an unprecedented global health and financial crisis that has caught many off guard. While the threats to human life are very real, the damage to the health of businesses is really just starting to show. The seriousness of the disease has prompted governments around the world to […]
Read More… from Finance Tips for Business: Battling Through COVID-19
On average, business owners can spend countless hours each week recording, organising, and processing financial transactions – everything from accounts receivable and payable, to employee payments, expense receipts and supplier invoices. While the process may be time-consuming, effective bookkeeping is the foundation of sound financial management – which in turn, is the lifeblood of the […]
Read More… from Bookkeeping Basics for Small Business Owners
Debt can be a crippling problem for small businesses wanting to grow or just break-even during difficult times. Paying down your debt in a timely manner will help you improve the value of your business, its financial situation, and its ability to continue operating into the future. Assess your debt situation and pay them in […]
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 […]
Read More… from 8 things your invoice needs in order to get paid faster
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 […]
Read More… from 5 Most Common Bookkeeping Mistakes That Could Hurt Your Business
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 […]
Read More… from JobKeeper payment makes up Government’s 3rd stimulus package
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 […]
Read More… from Useful information and resources on COVID-19
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 […]
Read More… from What the Coronavirus Stimulus Package means for you
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 […]
Read More… from 4 Tips for Getting Your Business Through Tough Times
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 […]