How to Run a Small Business: 6 Tips to Manage Your Finances

The most effective way to achieve optimal business operations can simply be by educating yourself on the ins and outs of running a business. With that in mind, one of the critical areas that is important to focus on is your small business’s finances.  Running a small business requires hard work and effective multitasking. But as a business owner, I’m sure this isn’t news to you! I’m sure you also…  Read more

How Business Owners Can Take Advantage of Tax Loss

For most people, when it comes to dealing with taxes, it can quite literally be taxing. Tax management requires a certain level of focus, expertise and organisational skills.  If you are running a business, tax management can become even more complicated. If you are an aspiring entrepreneur, you’ve probably encountered the term ‘tax loss’ more than once. Understanding tax loss and using it to your advantage can be challenging, but…  Read more

Understanding Australia’s Director Identification Number

In its 2020 Budget Digital Business Plan, the Australian government announced the full implementation of the Modernising Business Registers (MBR) program. The program is designed to both establish the new Australian Business Registry Services (ABRS), and enhance how businesses register and manage their information with the government. Although the ABRS rolls out progressively between 2021 and 2024, one of the immediate changes is that business directors must obtain a director…  Read more

Business Update – 27 October 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Australia-Singapore Travel Lane Begins on 8 November Australia and Switzerland will join the eleven countries – including the United States, the United Kingdom, Spain, Italy and France – that have signed on to Singapore’s vaccination travel lane arrangement that replaces quarantine with COVID-19 testing pre-departure and on arrival. The…  Read more

3 Cost-cutting Ideas to Minimise Small Business Expenses

The key to building a successful, stable, and capable small business all boils down to one fundamental task: saving money.  Setting a business up is one thing, and continuously raking in customers and revenue day after day is a good sign of success. But as you look over your financials, you may realise that you’re not retaining enough of the money that comes in because of your unnecessary expenses.  This…  Read more

Could a 4-day work week be better for your business?

The pandemic has acted as an impetus for reflection, with many workers and business people reassessing the hours they work and the priority that work has in their lives. A survey from Slack showed that 72% of respondents would prefer a hybrid approach to work – i.e. a mix of remote and office work. But there’s also a growing belief that we should be working fewer hours too and aiming…  Read more

3 Tips for Working Smarter and Gaining Personal Time

You’ve probably heard the maxim that it’s better to work smarter than harder. Working smarter means allocating your time, energy and money so vital tasks get done more efficiently, freeing up your personal time. Too many business owners think they must keep working harder—taking on more responsibilities and working longer hours—to be successful. It makes sense, because you’re responsible for your business, but that route leads to work overload and…  Read more

The perfect time for planning?

Being in lockdown is frustrating. There’s so much you can’t do. But is it the perfect time to do some business planning? Business planning constantly gets bumped to the bottom of the to-do list. It never feels urgent, especially when sales are strong and you’re dealing with challenges like finding new staff, or product shortages. However, a business plan can really pay dividends in the long run. It can not…  Read more

Is cyber-security a focus for your business? It should be

We live in a digital world where our company’s data and (crucially) our customers’ data is under constant attack. Hackers are always looking for new ways to break into your systems and databases – and this has resulted in many significant data breaches in recent years. When your security is breached, and your data is compromised, this isn’t just an IT issue, however. It’s a breach of trust between you,…  Read more

How to Write Winning Business Proposals

A written proposal should be provided to a customer following a discussion where you gained conceptual agreement for the business deal and its general terms. “A proposal should be a SUMMATION, not an EXPLORATION.” – Alan Weiss Providing a proposal allows the customer to reaffirm what you have already discussed, get clearer on the options that can meet their objectives and the fees associated with these. Most importantly, a proposal allows…  Read more

Double-Entry Accounting for Modern-Day Businesses: What to Expect

When your company gets to a certain point in size where it becomes more viable for incorporation, several changes will have to be made in its operations. To accommodate the ever-growing list of responsibilities and adjustments that businesses face, certain structure tweaks and accounting strategies must be carried out.  Among the different parts of your business that are expected to change as it grows, thrives, and takes on a new…  Read more

Business Update – 18 August 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. We’re thinking of everyone affected by lockdowns around the country and encourage you to reach out if you have any questions about your business during this time. Read on for assistance that may be available to you. Tougher COVID-19 Restrictions in Melbourne New stricter COVID-19 restrictions came into effect…  Read more

NSW Government Support Packages – Small to Medium Businesses

There are 3 different types of support for Small to Medium Business. The type of support available will depend on: business income is above or below $75,000 Whether you are sole trader or non employing business who is already receiving support in the form of the COVID-19 disaster payment.   Covid 19 Business Grant Key features A one-off grant for business that have been impacted by Covid 19. This grant…  Read more

Business Update – 11 August 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. We’re thinking of everyone affected by lockdowns around the country and encourage you to reach out if you have any questions about your business during this time. Read on for assistance that may be available to you. NSW Expands COVID-19 Lockdown New South Wales has expanded the COVID-19 lockdown…  Read more

The NSW COVID Small Business Grants

The NSW Government has recently announced grants available for small businesses who have been impacted by the NSW Government Lockdowns. This is available to all businesses that can show a downturn of at least 30% for a 2 week period between 26 June 2021 and 26 July 2021 compared to the same period in 2019. Businesses that are not within the “Lockdown Zones,” will have additional requirements to meet before…  Read more

Business Update – 21 July 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. South Australia Announces Shutdown, Victoria Extends Lockdown South Australia moved to a full lockdown yesterday after the number of local COVID-19 cases grew to five. The lockdown will last for at least a week to contain the spread of the Delta variant. This article outlines the COVID-19 rules on…  Read more

NSW and Federal Government Combined COVID-19 Support Package

This week the NSW state and Australian Federal Governments announced a combined support package to help households and businesses during the ongoing COVID-19 lockdown. The COVID-19 Disaster Payment will be expanded and increased under this agreement. The payment will increase to $600 if a person has lost 20 or more hours of work a week or $375 if a person has lost between 8 and less than 20 hours of…  Read more

Building a Personal Financial Plan – Essential Tips from Our Advisors

When it comes to understanding the fundamentals of money and managing your finances, it can be intimidating to begin if you don’t know where to start. Most of the time, however, money management can be relatively simple.  At the end of the day, you don’t have to be a financial genius to handle your finances, nor do you have to spend all your time and energy on knowing what to…  Read more

Business Update – 7 July 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Delta Strain Leaves States on High Alert Tasmania and the ACT remain the only Australian jurisdictions with no active local COVID-19 cases as NSW continues to battle a growing cluster that originated in Sydney’s eastern suburbs. Lockdown extended for Greater Sydney Greater Sydney, including the Blue Mountains, Central Coast,…  Read more

Business Update – 23 June 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. NSW Records 16 New Local Cases, New Restrictions Reimposed NSW recorded 16 new cases of COVID-19 since the last time health officials spoke at 11 am on Tuesday. There’s also one mystery case where authorities still haven’t identified the source of COVID-19 detected in a nine-year-old child from Sydney’s…  Read more

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