Succession Planning: A will for your business
The unfortunate reality is most business owners don’t take proper holidays. Usually this is because their business relies on them and they don’t have the support to keep the business running without them. As a business owner, have you ever considered what would happen to the business if you had to take a six months […]
Why Smart Business Owners Never Stop Marketing
One classic mistake business owners make when money gets tight is to stop marketing or cut their marketing budget. At first glance, it seems logical to cut down your expenses during tough economic conditions. However, in reality, it’s the opposite of what you should do. When your business is struggling, cutting your marketing budget will […]
The home and the castle
Have you noticed how we are becoming fixated by the idea of other peoples’ wealth? Or rather, how the media is driving us to towards the hobby of watching the wealth and riches of the few. But its not so few. Now we have reporting of suburbs where everyone is a millionaire. Oh, how we […]
How to Build an Effective Financial Plan for Your Business
Every business needs a financial plan. Your financial plan gives you a way to monitor and review your cash flow, make adjustments to your spending, and anticipate any upcoming financial issues. It can also make you more prepared to request funding or find investors so you can bring more money into your business. Although many […]
Cash Flow Advice for Small Businesses
Solid cash flow management is vital to ensuring your business survives, but not everyone understands what cash flow is or how to manage it. That’s likely what makes it a leading cause of stress for small business owners. In fact, a Capital One study found that 42% of small business owners say cash flow management […]
3 Consequences of Avoiding Your Bookkeeping
If you ask 100 business owners what they like least about running a business, chances are good that bookkeeping will rank high on the list. It’s an annoying and frustrating chore that takes up a lot of time and is easy to put off until tomorrow. Avoiding your bookkeeping is dangerous, however. Not knowing your […]
3 Tips to Make the Most of the End of Financial Year
Preparing your End of Financial Year (‘EOFY’) information often feels stressful—there are receipts to sort out and reports to review, and you need to make sure you have all the necessary information about your income and expenses. It can be overwhelming, and it can make the EOFY feel daunting. The end of the financial year […]
The past is always with us
It is hard to read a newspaper today without being told about suburbs where everyone is a millionaire, or a 9 year old who has just sold an app for billions. The world, it seems, is sitting back and the good times are rolling. Marketwatch’s eye was caught by an article in the Wall Street […]
6 Vital Money Management Tips for First-Time Entrepreneurs
Financial management is a vital part of running a successful business, but often entrepreneurs start their business with little understanding of how to make solid financial decisions. Managing your finances is about more than bookkeeping and paying taxes—although those are also important to a sustainable business. It’s about managing cash flow, preparing for income fluctuations, […]
Important Change for Employers: Superannuation Guarantee increasing to 10% on 1 July 2021
A Quick Overview The Superannuation Guarantee (SG) is scheduled to increase to 10% from 1 July 2021. If you have employees, you need to be ready for this legislated increase. What is Superannuation Guarantee? The Superannuation Guarantee is the minimum super an employer must pay to their employees super fund. The current SG percentage rate […]