Networking: Top 10 Tips

Networking can get your business noticed. It can lead to referrals, valuable business opportunities and increased sales. But it can be daunting to put yourself out there, and tricky to get right. Remember that professional networking is a social activity. It’s about building relationships – so leave the hard sell behind. Instead, be open and get to know people. Here are 10 things you can do to get the most…  Read more

MyGov ID – All you need to know

What is MyGovID MyGovID is an app released by the Australian Government to allow business owner to access their online information with the tax office. This app is used as an authentication with the business portal and Australian Business Register (ABR), and a lot of other things in the future. Without this app set up, you will not be able to log into the business portal or ABR. How to…  Read more

Long Service Corporation – Building & Construction Industry

What is it? Scheme overview The Long Service Corporation manages a scheme which provides long service benefits for eligible workers in the building and construction industry in NSW. The scheme allows eligible workers in the industry to work for different employers or as contractors and qualify for a long service benefit that is paid for by a levy on building and construction work in NSW. The levy is collected by…  Read more

Understanding Your Statement of Cash Flows

The statement of cash flows, (also known as the cash flow statement), shows how your business has generated and used cash (and cash equivalents) within a specific time period. For each of the reporting categories, receipts and payments are listed (money in and money out), and this is reported as a net increase or decrease in cash held for that category. The net change in all categories is added to…  Read more

3 Questions to Ask Before You Refinance

With interest rates at record lows and competitive deals on offer, switching to a new loan or lender may be an appealing prospect, with the potential to make significant savings.
Since the Reserve Bank of Australia (RBA) began its latest round of rate cutting, lenders have been lowering mortgage interest rates across the board, with several now offering rates below the 3% mark.
But before you make the decision to refinance, there…  Read more

P is for purpose, not profit

Why does your business exist? Your purpose is roughly three to seven words explaining why your business exists for your customers. Your purpose should be about THEM, not you. It is a small statement, with immense power. EXAMPLES: Tesla: To accelerate the world’s transition to sustainable energy. Walt Disney: To make people happy. TED: Spread ideas. These may be big company examples, but a clear purpose statement is just as…  Read more

Understanding Which Home Loan Features Are Right For You

Buying a home is probably one of life’s most important milestones, so getting the right home loan tailored to your specific needs and circumstances is essential. When it comes to home loans, there are many factors to consider besides interest rates. Choosing the right home loan could not only provide flexibility as your financial situation changes but could also save you some money down the track. Here is an explanatory…  Read more

Your workspace can impact productivity

A great office space is about keeping your people happy, productive and working towards the key goals of your business. An office is more than a place to put your desks, it is the heart of your business and the space where your people will spend most of their working day. Your office needs to create the right atmosphere for your people and inspire productivity. A great workspace motivates your…  Read more

Finding Your Best Fit CRM

Is your Customer Relationship Management (CRM) system working for you? There are many applications available for different businesses. Whether you are looking to set up a new CRM for your business or improve on your current system, there are factors to consider that are unique to you. A great CRM can make or break your business by helping you close deals and maximise your profit from existing customers. Considering your…  Read more

What is Succession Planning?

Succession is what happens to your business when you ultimately decide you want out. Planning your succession allows you to transition your business to new ownership in a managed and systematic way, helping you to reduce stress and achieve a greater outcome at a potentially tricky time. Succession Planning is about clarifying what you want for the future and defining the steps required to turn that vision into a reality,…  Read more

Eight C’s to help your business during Covid-19

The information overload is real. The ramifications of Covid-19 on businesses are being felt and speculated upon every minute of each day – probably leaving you feeling like a rabbit caught in the headlights. Here’s eight simple words also beginning with C to help clarify your vision. 1. Cash. It’s the oxygen for your business, do what you can now to preserve cash for the unknown future state. 2. Credit.…  Read more

Getting ready to exit your business?

When you sell up, you want your business to have as much inherent value as possible – so you get a good price, a great return on your investment and the best possible payout. So, how do you take yourself ‘out of the business’ as the founder, add the best value and set up an effective and financially beneficial exit strategy? Adding value to the company Whether the goal of…  Read more

Concerned about servicing your loans?

If you are concerned about servicing your loan, we have experienced mortgage brokers who can help. As Australians everywhere take a close look at their financial circumstances, mortgage brokers stand ready to lend a helping hand. Whether experiencing financial hardship through job loss, a reduction in work hours, or business disruption, an increasing number of Australians may be struggling to balance their books as a result of the Coronavirus, and…  Read more

What is Business Growth Advisory?

Here at 123 Financial Group, we have set exciting goals to start the new decade off fresh. We don’t want to be known as your typical accounting firm. We want to be a firm that puts your needs ahead of our own, we want to provide you with the answers to the questions you hadn’t thought to ask. That’s why we are providing our clients with the opportunity to access…  Read more

Invoicing Tips

Invoicing is a critical part of running a business. Big or small, it is essential for many reasons. Although invoicing may often be a demanding and time-consuming process, many don’t realise the implications of poor invoicing. If you’re invoicing isn’t up to scratch, not only will your cashflow be dramatically impacted but there may be taxation audit issues if there are no proper record of sales. Record keeping An invoice…  Read more

What Being Registered for GST Means for You

If your business, company, trust, partnership or self-managed superannuation fund is registered for GST, that means that your annual turnover is $75 000 or more. Or if you are a. taxi driver or a ride-share driver you will also be registered for GST.   You may be asking yourself, what does being registered for GST mean and what is the point? It essentially means that your organisation will be collecting…  Read more

Is your small business ready for Single Touch Payroll?

Are you ready for Single Touch Payroll? For employers with 19 or fewer employees, single touch payroll (STP) legislation will be coming into effect on the 1st of July 2019. Are you ready? What is Single Touch Payroll and what do the changes mean for your business and who does it affect? What will you need to do to prepare, so that you will be compliant? What is Single Touch…  Read more

What does an accountant do?

The best accountants can do much more than just tax and compliance work for your business. They’re troubleshooters and strategic advisors for small business. Basically, having an accountant means that you can operate your business with more clarity and confidence. Whether you’re working to get a startup off the ground, or taking the reins of an established business, you’ll see value from making an accountant part of your team. When…  Read more

JobKeeper Packages and Registration

Contact Form NameEmail MessageCAPTCHAEmailThis field is for validation purposes and should be left unchanged. Related Posts 3 Tips for Working Smarter and Gaining Personal Time 3 Cost-cutting Ideas to Minimise Small Business Expenses Could a 4-day work week be better for your business?  Read more

The best of both worlds: mixed use property investment

Building a new home that looks and feels just right – or making big changes to the place you live – is a goal for many. But it can be a more complicated process and a very different experience to buying an existing property. And it can require a specific type of financing – a construction loan. Maybe you already know how a standard mortgage works. Broadly speaking, you take…  Read more

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