Choosing the best loan
Getting a good loan can save you thousands of dollars in fees and interest, so it is important to shop around for the best deal. There are many considerations when choosing a… Read More
Making the most of your tax refund
Getting your tax refund back is exciting, but as tempting as it is to splurge, consider other ways you can put that money to good use. Consider the following options: Add to… Read More
Quick financial tips to make your money go further
There are no steadfast rules for saving money. Everyone’s financial situation is different; people earn different amounts, need to save different amounts and have varying expenses. Luckily, the following tips can apply… Read More
Strategies for getting out of debt
Getting into debt is not usually something you plan for; you may have an emergency fund but sitting down and planning how to pay off debt may not be something you have… Read More
Small business budgeting tips
Budgeting in relation to your small business can make the difference between business success or business failure. A budget helps you keep a better eye on your expenditures and hence your profit… Read More
Top tips for term deposits
Term deposits are an easy and secure way to invest your funds. But it is always a good idea to do your research and shop around first to find the best return… Read More
Cash flow tricks you should be practising
The ability to manage cash flow is a critical tool for business owners. Incorporate the following cash flow tricks to keep the money coming in and the business running smoothly. Make payment… Read More
Handling pushy salespeople
Rejecting a sales pitch can be difficult when dealing with a persuasive salesperson – however, having additional time to think about their offer is much more beneficial in the long run. Salespeople… Read More
Containing business costs effectively
Saving money should be a priority in any business. The ability to cut costs on the overheads involved in running a business is a skill that can set you apart from others… Read More
Saving on overhead costs
Owning a business will, especially for new business owners, entail a number of fees and costs that can reduce profits. Luckily, there are many ways to save money on overhead costs. Below… Read More
What is an interest-only loan?
Interest-only loans have grown considerably in Australia over the past few years. However, a recent crackdown from the Australian Prudential Regulation Authority on this type of lending highlights the risks of these… Read More
Weighing up unit trusts
Unit trusts are a way of holding assets and are most commonly used as a form of investment strategy. A unit trust is a particular type of trust that allows individuals to… Read More
Successful business borrowing
With banks conducting careful research to determine a business’ risk factor, it is more important than ever for businesses to maintain a good relationship with their bank in order to safeguard their… Read More
How to cost-effectively drive business sales
Making more business sales, especially through slow periods, can seem difficult. With rising overheads and limited cash flow, increasing sales is likely to be high on the agenda. Fortunately, business owners can… Read More
Do you have unclaimed money?
In Australia, there is currently $1.1 billion worth of unclaimed money. Unclaimed money usually eventuates as a result of people moving often or moving internationally, and some people simply forget or do… Read More
Managing your finances
The ability to be smart with your finances in order to make more money is not always easy. We live in a society where we are encouraged to consume, and we often… Read More
Understanding credit scores
Credit scores are an impact factor in determining an individual’s credit worthiness. When an individual applies for a loan, such as a mortgage or car loan, a credit provider will use a… Read More
What investors will look for when funding a startup company
Ultimately, every investor is different. However, when looking to invest in any startup company, there are a number of boxes you will need to check regardless of who decides to invest in… Read More
How to increase prices without deterring customers
Although, some business owners may be apprehensive at the thought of increasing prices, it is an inevitable and necessary part of business survival. While most customers may not be thrilled by the… Read More
Tips to prevent business fraud
Business fraud is a significant and growing issue for small business owners. Although fraud is not completely unavoidable, there are ways businesses can protect their private and confidential information. Here are five… Read More
Understanding financial ratios
Financial ratios are useful tools for business owners to monitor, analyse and improve their business performance. A financial ratio contains one or more financial figures and is expressed as a ratio, rate… Read More
Budgeting for growth
It may seem obvious that business growth can only occur when there is money available for reinvestment. However, many businesses do not consider this when budgeting and planning their long-term finances. One… Read More
Tips to get out of debt faster
An overwhelming majority of people will face debt at some point in their life. Uncontrolled debt can easily snowball and severely impact an individual’s lifestyle and financial freedom. Fortunately, debt is manageable… Read More
Tips for improving cash flow
Maintaining appropriate cash flow is a critical component of running a successful business. Despite this, running out of liquid capital is one of the most common reasons that small businesses fail. Monitoring… Read More
Personal insolvency agreements
Individuals with high debts can see bankruptcy as a solution to their problems. However, being declared bankrupt has some serious long-term consequences and should be seen as a last resort. A personal… Read More
Improving your accounts receivable
Freeing up working capital can help businesses fund growth, reduce debt levels and lower costs. One way to improve working capital is by managing your accounts receivable. Many businesses fall into the… Read More
Increasing sales revenue
Stagnant sales can quickly plummet a business’s profitability. Business owners must constantly monitor sales and customer behaviour to reflect their market’s needs, or risk falling behind. Fortunately, there are ways to increase… Read More
Setting sales targets
Setting realistic sales targets is a key factor in improving performance and maximising profits. Realistic sales targets can help improve cash flow, increase motivation of sales staff and meet your overall business… Read More
Fixed vs variable loans
When choosing between a home loan with a fixed rate of interest and a home loan with a variable rate of interest, it is important to take both your personal and financial… Read More
Understanding home equity
A home’s equity is the difference between the market value of the property and the amount the owner still owes on their home loan. For example, if the home is worth $800,000… Read More
Lenders’ mortgage insurance
Lenders mortgage insurance (LMI) is a common type of insurance used by individuals who don’t have a large enough deposit to buy a house but would still like to enter the property… Read More
Taking out a chattel mortgage
Taking out a chattel mortgage to finance the purchase of a business vehicle is an attractive option for small business owners from a tax-saving perspective. A chattel mortgage is a mortgage on… Read More
Creating your own emergency fund
Individuals may want to consider creating an emergency fund to prepare for unexpected financial shortfalls such as accidents and disasters. While an emergency fund is a great asset to have, building one… Read More
Seasonal cash flow management
Seasonal businesses can confront many cash flow problems if it is not accurately forecasted and monitored. The cyclical nature of seasonal businesses makes them prone to cash shortfalls as they rely on… Read More
Self-employed money management tips
When you are self-employed or run a home-based business, it is vital that you have a business plan that outlines your goals and financial information. Unfortunately, statistics show that many home-based businesses… Read More
Ways to spring clean your finances
When it comes to your money, whether it includes loans, insurance, savings or superannuation, nothing about it is ‘set and forget’. From time to time, it is quite important to consider looking… Read More
Meeting cash flow needs in retirement
Working out the right cash management strategy for a self-managed super fund (SMSF) is a critical component of its success. Retirees usually spend more in the first few years of retirement because… Read More
Short-term vs long-term financing
Maintaining healthy cash flow can be challenging; between ongoing expenses and bills, poor cash flow can severely impact your customers, staff and bottom line. Business owners need to understand the differences between… Read More
Considerations before selling your business
The sale of a business is a complex process; there are often unforeseeable issues that may arise between buyers and sellers, along with financial and tax implications to take into account. Here… Read More
The difference between debt and equity financing
Business owners now have a variety of financing resources they can utilise to build their business. But what one is the best option? Sources of funding sources are usually divided into two… Read More
Making sales calls
There are a few aspects of running a small business are as intimidating as actually making sales calls. Nevertheless, making sales is a vital part of any business. Regardless of whether or… Read More
Speed up customer payments
Managing debtors is often a cause of frustration for many small business owners. Unpaid invoices can seriously disrupt cash flow. Between chasing late payments and keeping track of invoices, debt collection can… Read More
Boosting you business’ cash flow
For small businesses to remain afloat they require healthy cash flow. Improving cash flow may sound simple; earn more and spend less, but managing cash flow can be far more challenging than… Read More
Lease or buy business equipment?
Business owners, at some point, will be faced with the decision whether to lease or buy their business equipment. Both leasing and buying provide different advantages and disadvantages, and depending on the… Read More
Building your customer base on a budget
Businesses starting out will often be challenged by the need to generate brand awareness but with a limited marketing budget. Minimising costs will often be at the forefront of business owners minds… Read More
Effectively managing inventory
Without an effective inventory management system, businesses can tie up a lot of capital in stock often resulting in cash flow problems. Besides cash flow improvement, effective inventory management can help businesses… Read More
Establishing your salary as a business owner
Although business owners and entrepreneurs get to decide on their own salary, determining the amount can be one of the hardest decisions to make. Striking the right balance between paying yourself too… Read More
Investment basics for businesses
Small business owners often spend all of their time trying to provide value to customers and overlook the importance of looking after the product of their business’s success; their personal wealth. But… Read More
Making big profits in small markets
Even though most businesses want everyone to be their customer, this is not necessarily the right approach to making a profit. Instead, it is often best to think small in order to… Read More
Simple ways to improve your business public relations
If there’s anything else small businesses want more than customers, it’s publicity. While many strive for as many mentions, references and links as possible from media publications, many more often fail to… Read More
Factoring for cash flow
Businesses facing a slowdown in cash flow due to tied up capital and slow-paying customers may consider using a factoring service to increase their liquidity during cash-poor times. Factoring is the sale… Read More
8 steps to creating the perfect invoice
Invoices tell customers a lot about a business. Therefore, they should always be accurate, well designed and professional. Every invoice a business generates sends a message about that business. And when customers… Read More
Donating to charity
With so many charities competing for donations, it can pay to spend time researching to make sure your money is used for the cause you want to support. Just as important to… Read More
Anticipating cash flow problems
Managing cash flow begins with an understanding of the specific cash requirements of your business. Proper planning and forecasting of these requirements can help to avoid severe cash shortages. Business owners involved… Read More
Keeping an eye on cash flow
Every business owner wants to make more money. But surviving in business is not only about how much money you make, but when you make it and when you spend it. In… Read More
Make your savings work for you
If you work hard to save your money, you should be making sure your money works just as hard for you. Here are some strategies for taxpayers to get the most from… Read More
Cash flow statements
Contrary to what some business owners may assume, a cash flow forecast is different from a cash flow statement Cash flow forecasts look forward while cash flow statements look at the past… Read More
The importance of keeping track
Make sure you don’t ever have the wool pulled over your eyes by staying organised, up-to-date, and keeping track of all your paperwork. As some small businesses may have experienced, it can… Read More
Keeping track of your stock
Stocktakes are essential to stock control and are the best way to keep track of your business’s merchandise. Implementing an ongoing system for tracking stock and items that have been bought and… Read More
Choosing the right bank account for your business
There are many advantages associated with having a specialised business banking account. It allows you to keep track of your cash flow accurately, easily produce proof of expenses in the event of… Read More
Why your cash flow is out of control
Cash flow is one of the biggest obstacles facing small businesses trying to secure funds for their growth. On top of ongoing expenses and bills, poor cash flow strategies can negatively impact… Read More
Strategies to improve profit
To make a business more profitable, owners and managers need to look into ways to increase sales revenue, decrease costs and benchmark the business to see where money can be saved. Strategies… Read More
What are profit drivers?
Profit drivers are determinants that have a significant impact on a business’s bottom line. They are often categorised as financial and non-financial drivers. Financial profit drivers are directly connected with dollar figures… Read More
Tips for managing cash flow
Cash flow is essentially the lifeblood of your business, and it is about much more than being successful. In addition to raising revenue, a healthy cash flow is determined by organisation and… Read More
Tips to achieving business loans
Applying for a bank loan can be a difficult process. But despite the borrowing challenges facing small business owners, it is possible to have your loan approved. Bankers are not in the… Read More
Developing proactive financial procedures
An integral part of running a business is establishing sound financial procedures and systems so you can monitor the overall financial health of the enterprise, as well as ensure that you continue… Read More
Getting rid of products to improve profit
Businesses looking to improve their profitability may need to consider cutting under-performing products and services. There are a few simple ways to decide which products should stay and which should go. 80/20… Read More
Simple ways to save more money in 2016
Even the best of us can make foolish (and quite often avoidable) money mistakes from time to time. But simply looking at your spending behaviour objectively, altering your bad habits and even… Read More
Choosing a bank account
Differentiating between bank accounts can be a tedious task, and many people will simply choose an institution that they are familiar with. There is, of course, a lot to be said for… Read More
When is the best time to register for GST?
The Australian GST system can appear to be quite complicated for some small businesses just starting out, due to the different types of GST goods and services, such as input taxed, GST-free… Read More
Managing your cash flow over Christmas
The holiday period can account for a significant amount of sales for some businesses. For other industries it may be a challenging time of the year, particularly in terms of cash flow.… Read More
Lending options for your business
Whether your business is experiencing sudden growth or financially struggling, it is crucial to manage your cash flow effectively. Cash flow gaps or being unable to access extra funds can put a… Read More
Getting customers to settle debts
Good credit management is an important business strategy to maintain cash flow and stable finances. A cornerstone of managing credit is not only making sure an invoice gets paid, but gets paid… Read More
Choosing a bank account
Differentiating between bank accounts can be a tedious task, and many people will simply choose an institution that they are familiar with. There is, of course, a lot to be said for… Read More
Cash flow strategies for small businesses
Without profits and positive cash flow, a business is going to struggle to survive. This is why cash flow strategies should be taken seriously. Aim for long term financial stability When setting… Read More
Five ways to pay less FBT
Small businesses can achieve real dollar savings by efficiently managing and calculating the Fringe Benefits Tax on meals and entertainment. However, the challenge is often finding the best calculation. Many organisations struggle… Read More
Improving your elevator pitch
An elevator pitch is the short description you can give about your business in the time it takes to ride an elevator. Your elevator pitch must be brief. It must say enough… Read More
Offering credit to customers
Offering credit to customers can speed up their invoice payments, increase the amount of their spending, and even help businesses gain a competitive advantage in their market or industry. However, weighing up… Read More
