How to handle nightmare debtors
Debtors can suck the cash out of your business and leaving you struggling to pay your bills.
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The implications of giving a personal guarantee
You’d be surprised how many business owners sign a personal guarantee with the bank without fully understanding the risks, which can be as extreme as loss of the business and the family home.
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Accountants – embrace the cloud or lose SME clients
A majority of Australian SMEs will consider replacing their accountant if they fail to make the transition to cloud-based computing software, according to new research by CCH.
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SMBs pessimistic about budget outcome
Latest Bibby Barometer survey found that small businesses are pessimistic about the outcomes of next month’s Federal Budget, with many hoping, but not expecting, reduced taxation and a cut in red tape.
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Cash is king
The expression “cash is king” has been around for years. Now, more than ever, as times are more difficult for business, business operators must ensure that they protect this critical asset of their business structure.
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For business’ sake: The top three sacrifices SMB owners make
Here’s a great lesson from June 20 on what sacrifices you might have to make as a business owner.
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Tax incentives for research and development – another reason to innovate
Recently, the Australian government acknowledged the importance of innovation by offering a new research and development tax incentive for innovative businesses, which allows business owners to claim up to 150% of their research and development expenses on their 2012 tax returns.
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What the mid-year economic outlook means for business
The Federal Treasurer has released the Mid-Year Economic and Fiscal Outlook (MYEFO) for 2012-2013, and it won’t come as any great surprise to SME owners that the economy, whilst not going backwards, is certainly not moving forwards as swiftly as the Treasurer would like. Here’s how the MYEFO announcement will impact small businesses over the foreseeable future.
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Why you should pay your invoices on time
Late payment is becoming an epidemic that is threatening the future of many small and medium sized organisations Australia wide. Australia often sees itself as an egalitarian society, the land of the fair go – well where is the fairness in not paying supplier invoices in a timely manner!
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SMBs unaware of beneficial tax rebates
More than half of small and medium businesses are not aware of important changes to the instant asset write-off scheme, according to a recent poll.
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Self managed superannuation – is it for you?
Most people know something about self managed super funds (SMSFs), the do-it-yourself version of compulsory superannuation. But for many people, the many benefits of SMSFs – as well as the potential costs – are unknown.
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Are your contracts leaking like an old tinny?
Have you completed your proper due diligence on your business contracts? It’s crucial to plug the holes in your business contracts before you find yourself sinking.
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Managing cashflow with the right GST registration
To optimise cashflow management for small business, it is imperative that Goods and Services Tax (GST) registration suits the business operations. This step-by-step guide will help you understand how to take GST reporting from cash to accruals basis.
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A look at the real value of outsourcing
Outsourcing aspects of your business shouldn’t be seen as failure. Rather, procuring the help of people who are better at doing those jobs than you are could be the key to your success.
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How to use superannuation to improve cashflow
They say there aren’t too many benefits of ageing, but a scheme called the Transition to Retirement Pension allows for bit of nifty restructuring that can reduce wages and increase cashflow – two benefits not to be sniffed at.
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A 2-step method for claiming car expenses
Claiming car expenses can be minefield for some business owners, as deduction methods vary depending on your work situation. This simple two-part method will help you decode whether you can claim vehicle expenses, and which methods will help you achieve the best deduction.
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How to be compliant this new financial year
Remember the changes announced in the Federal Budget in May? No? Well the beginning of the new financial year means that many of these measures have now commenced. Use this list of changes to ensure you’re compliant.
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A look at the business benefits of the humble budget
The word “budget” can evoke a range of different feelings: dread and disappointment or pride, a sense of direction and achievement. However you might feel about them, the truth of the matter is budgets are a highly underrated business tool.
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The 110 things that need doing before tax year-end
With only a week and a half to go, time’s running out to get your year-end actions in order. If you’re unsure whether you’ve missed any EOFY opportunities, here are 110 ideas to help you ensure you’ve got all bases covered.
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How to manage your own accounts: Five steps
Working for yourself means not only do you need to market your products and services and bring in new business, but you also need to manage your own financial accounts. You have to keep on top of the money coming in and out if you want to survive the first year in business. These five tips will help.
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