Debt financing vs equity financing
Gathering funding is a challenge that almost all business owners face at some point. Financing can come in two forms – debt financing and equity financing. Debt financing is money that you… Read More
How to keep employees safe as they return to the workplace
Enforcing health precautions is an essential step to creating a safe workplace and giving your employees peace of mind, especially during the current pandemic. Businesses looking to invite their employees back into… Read More
What to consider before opening another business location
Expanding your business to open in multiple locations can offer more opportunities and profitability. However, managing one location can be challenging enough, so it is crucial to examine and prepare for the… Read More
Why businesses should consider flexible workplace arrangements
Businesses working from home due to social distancing restrictions can take the opportunity to learn from the experience and consider new work structures coming out of COVID-19. This could mean increased flexibility… Read More
Options to consider before declaring bankruptcy
Businesses struggling with debt may feel like declaring bankruptcy is their only option. Premature bankruptcy is an unfortunately common scenario but there are ways businesses can deal with unmanageable debt before declaring… Read More
How to improve your hiring process as a small business
Small businesses coming out of COVID-19 may be looking to expand and grow as quickly as possible to prepare for a changing economy. One of the ways you can effectively grow your… Read More
Reviewing your business’ progress
With the current economic slowdown, now is the perfect time to review your business strategy and conduct a business “health check” to come out the other side improved and ready to go.… Read More
How to support your employees through COVID-19
Supporting your employees during chaotic times as an empathetic leader will improve your relationships within your business and boost personal confidence. Here are some ways you can support your employees mentally and… Read More
Increasing workplace flexibility
Businesses now working from home can take the opportunity for employers to learn from the experience and consider new work structures coming out of COVID-19. This could mean increased flexibility for employees… Read More
What should you do when contracts, sales or purchases are cancelled?
Contracts, sales or purchases are bound to be cancelled with financial uncertainty plaguing the economy as a result of COVID-19. To help you get through this, the ATO recommends making a goods… Read More
What to consider when dismissing employees due to COVID-19
Despite unprecedented circumstances, employers still need to consider the requirements of dismissal under the Fair Work Act when ending employment to avoid legal action against them. When dismissing or standing down employees… Read More
Eligible for the JobKeeper scheme? Here’s what to do now
Businesses wishing to use the JobKeeper payment scheme may find themselves running into many logistical uncertainties, as claiming the JobKeeper payment scheme can be a complicated and risky process. Here are the… Read More
What the NSW $1.6 billion coronavirus stimulus package will mean for you
As a result of the coronavirus outbreak in NSW and a decline in economic activity throughout the state, on 17 March 2020, the NSW government announced its own $2.3 billion coronavirus stimulus… Read More
New JobKeeper payments for employers
The Federal Government introduced a third COVID-19 support package of $130 billion on 30 March 2020. The package includes additional support for businesses, including a new JobKeeper payment to help businesses retain… Read More
Increased cash flow support for businesses as COVID-19 continues
The Australian Government has increased support for businesses to manage cash flow challenges under the ongoing COVID-19 circumstances. The Boosting Cash Flow for Employers measure announced on 12 March 2020 will be… Read More
Business loan vs business credit card
Business loans and business credit cards are the most popular financing options, but there are key differences between the two that you should consider to help you make the right choice for… Read More
What does the coronavirus stimulus package mean for businesses?
Amidst the chaos of the COVID-19, better known as the coronavirus, and concerns for Australia’s weakening economy, the Morrison government most recently released a “coronavirus stimulus package” largely targeted at stimulating the… Read More
AUSkey is getting replaced this month. Are you prepared?
With a quarterly business activity statement (BAS) due next month, it is important that you have updated your lodgement options according to the new system. From 27 March 2020, AUSkey, including Manage… Read More
Tips to incorporating career mentoring into your business
A career mentorship program involves partnerships between employees to develop professional skills and gain industry knowledge. Career mentoring programs are often seen as powerful development tools for cultivating both leaders and employees… Read More
Are you responsible for unfair dismissal of employees?
If you are a small business employer wishing to dismiss employees, you must do so according to the Small Businesses Fair Dismissal Code, as breach of the code could result in legal… Read More
Things to consider before rebranding your business
Rebranding your business can seem like a daunting task, as it can involve a range of arduous tasks such as changing designs, updating clients, retraining staff and changing your marketing strategies. However,… Read More
Keeping your virtual team on track
Managing a virtual team can offer challenges that you won’t experience in-person teamwork. It can be harder to schedule meetings, show demonstrations and build connections. However, having a virtual team offers convenience,… Read More
Why you need business interruption insurance
With many small businesses often being the livelihood for their entire families, owners should consider taking out business interruption insurance in order to safeguard against financial loss experienced as a result of… Read More
Things to consider before hiring an intern
Hiring an intern can sound like a win-win situation; the intern gets an opportunity to learn and boost their career, you get some extra help generally at a lower wage rate than… Read More
The importance of keeping business records
Businesses operating in a fast-paced and dynamic environment, the task of keeping records can fall secondary to everyday business operations. However, failing to efficiently keep up-to-date and comprehensive records can hurt your… Read More
Can you change your business or company name?
Changing your business or company name can be an exciting leap. You can find yourself thinking about things like redesigned logos, rebranding and new customers, but before that, you have to think… Read More
Don’t delay new business ideas
Many business owners have exciting ideas about where the future might take their company. These ideas may be concerning new products, internal improvements or new market segments. It is, however, an unfortunate… Read More
Closing the office for the holidays
As the holiday season approaches, the workplace often gets more relaxed as things wrap up. However, closing the business for the holidays usually isn’t as simple as turning the lights off and… Read More
Doing market research for your business
Market research is key to developing relevant and effective business strategies as it helps you understand your industry, customers, competitors and market trends. Undertaking both primary and secondary market research can allow… Read More
Pros and cons of hiring an intern
With so many eager school-leavers looking for employment opportunities, hiring an intern can seem like a good way to offer work experience to someone without the risks of a long-term commitment of… Read More
What to include in a business partnership agreement
Entering into a business partnership can come with conflicts and misunderstandings between you and your new associate. This is why having a written agreement that clearly outlines your rights and responsibilities is… Read More
CGT concessions for shares and trust interests
For taxpayers wishing to access the small business capital gains tax (CGT) concessions for shares in a company or interests in a trust, they must first meet the standard requirements as well… Read More
How to avoid non-paying clients
Running a business is hard enough without having to chase up payments from your customers. Here are some measures you can take to prevent yourself from having to deal with the profitability… Read More
Moving your business online
In order to keep up with the growing demands of digital accessibility and convenience, many businesses decide to partially or completely move their business online. This can help with extending customer reach… Read More
The ATOs ABN cleanup
The ATO has announced that in October 2019, they will be focusing on the bulk Australian business number (ABN) cancellation program. This program will be cancelling ABNs that the ATO is confident… Read More
Contractor obligations for business owners
Contractors bring with them different obligations that business owners need to comply with. Employers that incorrectly classify employees and contractors can face hefty penalties and charges as well as claims for entitlements… Read More
Knowing when to cut a product
Businesses looking to improve their profitability may need to consider cutting under-performing products and services. How a product contributes to growth strategy, brand management and production efforts can help you determine whether… Read More
What employment type is best for your business?
An employment contract establishes the terms and expectations of an employee before they start work. It outlines everything the employee has to know about working for you, including employee rights, working hours… Read More
Budget-friendly ways to promote your small business
Promoting your business can seem tricky to navigate and expensive, especially when there are budget and staff restrictions to think about. However, there are a number of ways to promote your business… Read More
Dealing with a bad day at work
Bad days can happen to the best of us, but that doesn’t stop work from needing to get done. Whilst working when you’re feeling down is the last thing you want to… Read More
Hiring working holiday makers
In Australia, there are approximately 100,000 working holiday makers employed each year. Any employer can hire working holiday makers provided they meet the requirements to do so. Employers must confirm the working… Read More
When do you need an ABN?
An Australian business number (ABN) is a unique 11-digit number that the Australian Business Register issues to all businesses, identifying your business to the community and government whilst also making it easier… Read More
Are they an employee or a contractor?
Employers that incorrectly treat employees as contractors can face hefty penalties and charges as well as claims for entitlements and superannuation contributions. Even if employers are only hiring someone for a few… Read More
Quick fixes to boost email marketing
While email marketing remains one of the most effective platforms for businesses to reach clients on a personal level, it does not always deliver the results you may be after. If you’re… Read More
Evaluating risks in business
Business owners are faced with constant challenges and tough decisions to make on a day-to-day basis. Risk-taking is often necessary to achieve more in the business, but owners need to make informed… Read More
Deduction rules for small businesses
Spending on capital assets usually cannot be deducted immediately. Instead, small businesses claim the costs over time in accordance with the asset’s depreciation. There are many different processes that businesses can employ… Read More
Boost employee productivity
All businesses need to look at ways to increase the productivity of their staff. When your employees get more work done, it will ultimately lead to the business making a bigger profit.… Read More
Supporting mental health in the workplace
Business owners have a responsibility to look after their staff and ensure they have a healthy working environment. This extends to mental health as well as physical. With one in five people… Read More
Managing business growth
It can be exciting and reassuring when your new business venture achieves growth and success. However, it can also become hard to manage and keep under control. When things reach a certain… Read More
What makes a successful business plan
When starting a new business, there are many elements you need to consider. Careful planning is essential to ensuring the longevity of your business, but what exactly goes into a good business… Read More
Improving the efficiency of your business
As a business owner, making the most of your day to optimise productivity is crucial to your success. The most efficient businesses are those that can create more with less and are… Read More
The art of reinvention
Small businesses often rebrand or reinvent themselves to keep up with marketplace trends. Knowing when to let go of an idea so you can grow is a smart trait for a modern… Read More
How bullying brings your workplace down
Bullying is a serious issue in workplaces and can affect your business on many levels. Workplace bullying is where repeated and unreasonable behaviour is directed towards an individual or group of employees.… Read More
Good record keeping practices
Starting your business with a good record keeping system can help you track your business performance, meet reporting responsibilities and access financial history with ease. Since different rules apply to different types… Read More
Building the right team for your business
While hiring the right staff is a key element when running a business, to be successful you will need to build a strong team. Here are some tips on turning a group… Read More
Startup essentials to help your business succeed
Starting your own business can be as daunting as it is exciting. There are many aspects that need to be considered when making the change to becoming your own boss. Here are… Read More
How to get the most out of business meetings
Conducting meetings is a regular way of communicating what needs to be done around the office, but if nothing gets accomplished it can be discouraging. Business meetings that don’t produce results can… Read More
Choosing the right business location
When setting up your business, choosing a location can be a critical factor in its success. Unless you are completely home-based, you will need to decide where you will conduct your business… Read More
Common mistakes to avoid when launching a business
Starting a new business is an exciting time for many entrepreneurs. However, there are 5 common mistakes many new business owners make. By being aware of these mistakes, you will increase your… Read More
Handling negative feedback
Customer complaints are an inevitable part of running a business. How you handle negative feedback can help or hinder retaining existing customers. Complaints can be a great learning tool for businesses looking… Read More
Accounting during every stage of business
Professional help with accounting and financial decisions is useful at every stage of business. Accountants can assist with a variety of tasks during different periods of operation within your business to improve… Read More
How collaboration can help grow your business
In a market that is full of entrepreneurs and small businesses, collaborating with a business that complements yours can be a powerful tool to share your marketing budget and be introduced to… Read More
2019 Budget: A business growth based Budget
The 2019 Federal Budget focuses on building a better tax system for Australian businesses in order to create a stronger economy. Instant asset write-off:The instant asset write-off threshold will be increased from… Read More
What employee benefits apply for FBT
When an employer provides certain benefits for their staff, they are required to pay Fringe Benefits Tax (FBT). Employers pay FBT on the benefits they present to employees and their families or… Read More
Cashless business
Advancements in technology continue to digitise our world in many ways, including financially. In recent years, more businesses and events are turning to cashless systems. Whilst cash still remains popular in businesses… Read More
Raising early stage capital in your business
Raising capital is a step that every startup faces. When a business is brand new, the question of how to get money must be addressed. If you intend to launch a business… Read More
Before selling your business
Deciding to move on from your business can impact a lot of different people. When selling your business, you will need to consider the effects on all areas of operation from the… Read More
Challenges your business can face
Owning and running a small business comes with positives and negatives that maintain a balance. When the negative elements start to outweigh the positives, you have a problem. Every business will face… Read More
What advertising avenue is best for you?
Without exposure, businesses would come and go very quickly. In this new digital age, there are even more options for how you want to advertise your business. There are a variety of… Read More
Creating a positive business culture
Business culture is a reflection of what your company stands for, it’s your voice. Employee relations are what establishes this voice and can always be improved. A work environment that everyone enjoys… Read More
What we can learn from ‘introverted’ people
Most of us fall somewhere in between the introvert-extrovert spectrum but our concept of a great leader often looks to someone who exudes characteristics we often associate with ‘extroverts’ – including being… Read More
Instagram for business
You may think that Instagram is only for millennials obsessed with photographing themselves or their lunch but really it is a whole new area of marketing and business opportunities to explore. Instagram… Read More
Effective Team Performance
Teams, like workplaces, are becoming increasingly diverse, dynamic and digital. But the principle behind managing teams effectively remains the same. Are you providing the right conditions for your team to thrive? Here… Read More
Challenging the use of country as a proxy for culture
Business managers are required to work in increasingly diverse environments, facing issues that are increasingly dynamic, complex and uncertain in the face of global economic, social, and technological shifts. The behaviours used… Read More
Hiring high potential staff
Your business is only as good as your staff, which is why you want to hire high potential employees. You may find it hard to spot a high potential candidate in an… Read More
Personalising your business brand
Personalising your business brand attracts new customers by establishing authenticity and a point of difference. Follow these tips to improve your marketing and create a unique brand true to yourself. Put a… Read More
How small business can compete with major corporations
Small businesses should not feel intimidated by their corporate competitors as they have many unique advantages that can help them gain a sizeable market share. Small business owners should focus on specific… Read More
Benefits and problems of niche marketing
Business owners thinking about specialising their products and services to target a niche market should know the benefits and risks of this business strategy. Niche marketing is the business strategy of targeting… Read More
Fostering healthy workplace competition
Bringing out your staff’s competitive side can lift the performance of the entire business and boost productivity. However, competition can turn any workplace toxic so it is essential to get the balance… Read More
Leadership mistakes to avoid
Leadership mistakes contribute to falling standards around the office due to a lack of motivation or inefficient management. Here are some leadership mistakes to avoid in the workplace. Being hypocriticalLeaders that do… Read More
How community involvement grows your business
Business’ that get involved in community reap financial, workplace and brand image related benefits. Whether your business is new or relatively established in your area, community involvement should be at the forefront… Read More
Picking the right business location
The decision of where the headquarters of your business should be will have a significant hand in determining your profitability and productivity. Consider the following checklist to ensure you make the right… Read More
Strategies to reduce staff turnover
Staff turnover leads to significant costs from recruitment and training processes. Reducing staff turnover is fundamental to boosting profits in your bottom line and indicates a higher level of employee satisfaction. Perfect… Read More
Use your business card effectively
When business networking is increasingly digital with LinkedIn and your business’ website a primary way of getting your name out there, the business card is still an integral part of your networking… Read More
Making the decision to rebrand
Rebranding can help you survive in a changing industry or open your business up to new profit-making opportunities. Sometimes it may be difficult to make the call, when there are significant costs… Read More
How to give constructive feedback to staff
Giving feedback to staff is a key to being a successful manager. Although feedback should be viewed as an opportunity to grow, staff may be sensitive you are criticising their work. That… Read More
Strategies to put an end to negative office gossip
Negative gossip in the office is something that is harmful both to your business and to the employees. Whether it encourages individuals to seek work in a less toxic environment, slows down… Read More
When to get a business partner
Starting and running a business can be a lot more fun when you are working with someone you like and respect. With a partner, you have someone to share the excitement and… Read More
Strong leaders ask for help
There is no weakness in a leader who asks for help. Maintaining success in your small business requires you to seek advice from your employees on a range of matters. However, it… Read More
Consider business structure
Creating a new business is an exciting time for any first-time entrepreneur, but it also comes with making big decisions – one of these will be when you must choose which structure… Read More
Negotiating like a boss
The ability to negotiate well is one of the most desirable skills in the business world. It can help you get the very best outcome from any professional deal. There are many… Read More
Inclusivity in the workplace
Creating a workplace environment that fosters inclusivity and belonging for all is important for the longevity of your business. When people feel safe and a sense of community, they are bound to… Read More
Launching a business: mistakes to avoid
Launching a new business for the first time is an exciting phase for every entrepreneur. However, it is important to increase your chances for success by being aware of and avoiding common… Read More
Cash-only business? Consider making the switch
The Tax Office has released further findings that reveal cash-only businesses could be missing out on a significant chunk of revenue simply by not offering customers the option of electronic payment. An… Read More
Engaging in effective negotiation
The key to success is remembering that everything is negotiable, and that to get a deal you must ask for one. Many people stop right there because negotiating makes them uncomfortable. They… Read More
Growing your small business
Has your small business hit a slump lately? It may be time to develop a growth-focused strategy that can take your business to the next level. Consider these ideas when designing your… Read More
Refund policies
Businesses have specific obligations under Australian Consumer Law (ACL) when it relates to refunds, returns, guarantees and warranties. It is important that a business’ refund policy complies with ACL. All businesses have… Read More
Building a solid startup
It is no secret that most startups will fail in their first three years of operation, so building a new business that can not only survive but thrive in the face of… Read More
Simplifying your marketing
Overcomplicating your marketing efforts in a bid to increase awareness and boost sales is a common trap. As the marketing industry continues to overcrowd and evolve with technology, businesses need to look… Read More
Communicating effectively with difficult people
Working with unreasonable people is inevitable for most individuals at some point in their careers. Whether it is an unhappy customer, difficult colleague or uncompromising community member – chances are you will… Read More
