Secrets to Keeping Your Employees Happy

Traditionally, employers have relied on giving employees raises as a way to retain their staff and reward them for being hard-working and loyal. Raises can get expensive, and there is often an upper limit for what you can offer when it comes to increasing salaries and wages. Keeping your employees happy makes business sense. You want to keep your good employees, and it costs money to find, hire and train…  Read more

Business Update – 18 May 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Changes to company tax rates are in effect Companies, corporate earning trusts, and public trading trusts may be eligible for a reduced tax rate this season. Learn more about the changes and find out who qualifies here. STP Phase 2 requires more information when submitting payroll Single Touch Payroll…  Read more

4 Tips for Positioning Yourself as a Market Leader

Small business owners often feel that they have to do something to stand out from the crowd and attract an audience. If that’s how you feel, you’re definitely not alone. Many business owners try to stand out by creating fancy websites that grab attention. Those may work in the short term, but it’s worth considering other ways to market yourself as an industry leader and build relationships with your ideal…  Read more

Business Update – 11 May 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. GST fraud attempts circulating on social media lead to extra security measures Due to a significant number of GST refund fraud attempts, legitimate businesses may face extra steps to receive their refunds as extra security measures are put in place. Tighter controls around ABN and GST registration have been…  Read more

Paying down debt

Debt can be a crippling problem for small businesses wanting to grow or just break-even during difficult times. By reducing debt you’ll improve the value of your business, its financial situation, and its ability to continue operating into the future. Assess your debt situation Take a detailed look at all of your debts – both current and long term. Evaluate which ones are more urgent and which can be parked…  Read more

Business Update – 4 May 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. More Australians turning away from home ownership A new study suggests that younger Australians are choosing to invest their money in stocks over buying a home. Around 43 percent said they would choose to invest their money instead of spending it, and 38 percent of those saying they would…  Read more

How to Choose the Right Software for Your Business

These days, businesses have plenty of options when it comes to choosing software. There are hundreds of developers creating and perfecting new products designed to help you more effectively and efficiently run your business. With so many options available, it’s important to focus so you know where to start looking and how to make the best decision. Here are some factors to keep in mind when you choose software for…  Read more

Business Update – 27 April 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Xero Report: Small Business Creation at Record Levels Landmark research from Xero has revealed new small business registrations in Australia are at unprecedented levels, growing 34% from 225,000 in 2019 to over 300,000 in 2021. Over the next 10 years, an estimated 3.5 million small businesses are expected to…  Read more

4 Reasons to Switch to Cloud-based Accounting

If you’ve been considering making the move to a cloud-based accounting system, you’re not alone. Cloud technology has impacted many business functions, including making managing financial aspects of your business easier and more efficient. Cloud-based accounting moves your accounting from being hosted on your computer’s harddrive to an online platform. Cloud-based platforms like QuickBooks and Xero offer important features that save you time and money, freeing you up to focus…  Read more

Business Update – 20 April 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Latest Changes in Travel Rules The requirement for people travelling to Australia from overseas to test negative for COVID-19 before arrival has been lifted. A ban on international cruise ships coming to the country and a rule preventing rapid antigen testing price gouging have also ended. You can find…  Read more

5 Steps to Setting Up Your Business Processes for Success

When a business first starts out, it’s natural for the owner to be a jack-of-all-trades. You may not have the capital to hire specialists or access to the technology that can help you. As your business grows–or as you look to take a smaller role in your company–you may find the business has become over-reliant on you, which makes it difficult for you to take a step back. Here are…  Read more

Business Update – 13 April 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Mask Mandate to be Dropped in South Australia South Australians will be spared from wearing masks in most public indoor spaces from Good Friday, but will still be required in high-risk settings such as hospitals, aged care or residential disability facilities, on public transport and in ride-sharing vehicles. Business…  Read more

Setting and Achieving Financial Goals

Financial security, whether that’s for a business or an individual, requires planning. You need to know where you want to be, where you are now, and how to cross the gap between the two places. Having goals and a plan makes it more likely that you’ll achieve financial security–whatever that means to you. Here are some steps to setting your financial goals. 1. Be specific with what you want It’s…  Read more

Business Update – 6 April 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Central Bank Opens Its Door to Interest Rate Hike The central bank dropped its previous pledge to be “patient” on policy, signalling a step towards an eventual tightening. While the Reserve Bank of Australia (RBA) kept its cash rate at 0.1%, it noted inflation had picked up and was…  Read more

4 Tips to Improve Your Business Negotiation Skills

Owning your business requires many skills, and among the most important might be the ability to manage negotiations. As a business owner, you could find yourself negotiating in many circumstances, such as: Salary and job expectations with a potential employee Financing terms with a lender Payment terms with a supplier Lease or property agreements Equipment agreements. Your ability to negotiate will have an impact on your financial situation, which is…  Read more

Business Update – 30 March 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Federal Budget 2022 Find out how the Federal Budget 2022 affects you. ABC News offers a summary of Treasurer Josh Frydenberg’s latest budget, indicating who’s getting a cash boost and who’s not. Bonus Tax Deductions for Small Businesses The Technology Investment Boost allows small businesses to claim 120% of…  Read more

How cash flow forecasts can help you

Managing cash flow is a vital part of running a successful business. Some business owners think managing cash flow simply means keeping track of how much money enters and leaves their business, but there’s actually more that goes into it. Cash flow forecasting, for example, is an incredibly valuable tool that helps you anticipate cash flow issues, plan for days when your cash flow is limited, and show the bank…  Read more

Business Update – 23 March 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Australia to Produce Its Own mRNA Vaccines Moderna’s Covid-19 vaccines and other mRNA jabs will finally be made in Australia after the government finalised a production deal with the US company. Moderna will build a new production facility in Victoria and supply the country with 100 million doses a…  Read more

6 Tips to Improve Your Delegation Skills

When you run your own business, it’s tempting to take on every responsibility. There are many reasons for doing so: because you want something done a specific way, because you don’t have the time to explain how to do it, or because you’re not sure someone else can handle the task. Delegating saves you valuable time and energy. Sharing duties with your team also fosters a sense of responsibility, engages…  Read more

Business Update – 16 March 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Entry Ban for Cruise Ships to Be Lifted After two years, the government announced that it would lift its entry ban for international cruise ships next month. This could potentially boost a tourism industry impacted by COVID-19 restrictions. New Zealand Opens Borders to Australians Fully vaccinated Australians will be…  Read more

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