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Business

Are you a Slave to Your Business?

Your business is there to serve you; not the other way around. In other words; you should never be a slave to your business.

Being a slave implies a victim mentality - that the world has simply dealt you a bad hand, that you have no say in the matter. Perhaps you hear yourself thinking you’re a slave to your business because your clients need you, or your team can’t cope without you,

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How to Plan For a Holiday From Your Small Business

Whether you’re heading into a holiday period, or just planning to take a break (and congratulations, because a healthy business means work-life balance), it’s important to keep your cashflow under control. This means pre-planning and being proactive.

When you’re not in the office, there are still overheads and salaries that need to be sorted. If taking time off means t

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Here’s how to better understand your risk profile

Whether you’re getting into investing for the first time, or looking at how you might expand your existing investment portfolio, it’s important to understand your risk profile. Once you have this key insight, discovering the kinds of investment that will help you meet your goals will be more straightforward.

What is investment risk?

The risk when you make any investment is that you wo

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The weakest link: Why security is everyone’s responsibility

For many of us, the internet is not just an intrinsic part of our lives, it’s integral to how we do business. It enables businesses to connect to global markets and complete transactions in minutes.

As we take advantage of the opportunities the internet has to offer, online security becomes a priority. This means being vigilant about keeping sensitive data and information secure from hacker

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What you need to consider before you take your business overseas

A globalised and digitally connected world means that your business isn’t restricted to one country. Expanding your business overseas gives you access to new audiences and a little protection should anything happen to destabilise your home market.

But, as with all things in business, proceed with caution. While the saying ‘no risk, no reward’ holds true, it’s important to

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Set your business up for success with the right structure

The structure of your new business has repercussions in terms of tax, costs and the protection of your assets. When you decide on what structure you’ll use, keep in mind your future plans, because this may impact your decision.

There are three main structures you could consider.

Sole trader:

If you’re operating on your own, this may seem an obvious choice. It’s a quick one to se

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Is your business attracting the right talent?

When people talk about ‘brand’ they often think solely from a customer perspective. However, a strong 'employer brand' is also critical, in order to attract the right talent to your business. A company’s employer brand is twice as likely to drive job consideration as its company brand. With a shift in skill-set requirements across most industries, and Gen Y entering the workforce,

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Creating a small business budget

Small business budgets are empowering. They give you the knowledge and insight to eliminate wasteful spending and get to profitability faster.

When setting a business budget, you need good numbers. Don’t guess at what’s coming in and what’s going out. You could be making assumptions that just aren’t true. Take the time to look into your accounts and dig out the real figures

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What does an accountant do?

The best accountants can do much more than just tax and compliance work for your business. They’re troubleshooters and strategic advisors for small business. Basically, having an accountant means that you can operate your business with more clarity and confidence.

Whether you’re working to get a startup off the ground, or taking the reins of an established business, you’ll see va

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5 key things to get right when starting a business

Starting your own business is a BIG leap of faith. Will you find any customers? Will you make enough income? These are questions that any founder will ask themselves.

But with the right planning, preparation and support, you can set the best possible foundations for your new enterprise, and take some of the guesswork out of becoming a business owner.

Building the right foundations

So, if you&rsqu

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Using LinkedIn to boost your business

LinkedIn can be a valuable networking tool for business owners and job seekers. Use the site to increase brand awareness, attract top talent, acquire new customers, promote events, and engage with influencers in your industry.

Here are five basic ways to use LinkedIn to create a business advantage:

1. Create a company page.
Help potential and existing customers and team members learn about your bus read more...

Professional networking 10-step checklist

Networking can get your business noticed. It can lead to referrals, valuable business opportunities and increased sales. But it can be daunting to put yourself out there, and tricky to get right. Remember that professional networking is a social activity. It’s about building relationships – so leave the hard sell behind. Instead, be open and get to know people.

Here are 10 things you c

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Ever wondered what Influencer marketing is all about?

With more choice than ever in consumer goods, brands are turning to individuals who will promote products to their large social media fan base.

Each new trend is often an iteration of a previous way of doing things. Companies have long used celebrity endorsement to advertise their brands to customers, but influencer marketing is a bit different.

Made possible through social media, the influencer i

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What’s in the forecast?

When we set out on a fishing trip or hike, we always check the weather forecast.

It’s no different in business. The forecast tells us if there’s bad weather (poor cashflow) in store based on the direction we’re heading.

Your forecast will tell you:

  1. Whether you have enough sales in the pipeline to give you the desired level of profit you want for the year.

  2. Whether your margin

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Delighting your customers for better referrals

The most simple and cost-effective way to grow your business is so often overlooked; happy customers become your strongest advocates. They talk to their friends, family, and associates and refer business to you.

Here are 10 ways to delight your customers:

  1. Meet with your customers more often and take a genuine interest in how they’re doing.

  2. Run customer events. Put on a few drinks, get in

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Planning for Seasonal Dips in Cashflow

Seasonal dips in income can be highly challenging when you’re a small business. But there are proactive ways to predict, plan for and overcome these dips in revenue.

The key to dealing with seasonal dips is to know when they’re most likely to occur, and to have measures in place to spread your income and revenue pipeline over the course of the year.

Understanding seasonality in your se

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New Rules for Salary Sacrificing Super

Salary sacrificing to super allows an employee to forego part of their salary or wages and have the employer contribute this amount to their superannuation fund instead of paying it as cash. It reduces the taxable value of salary or wages, and is therefore beneficial to the employee in both reducing tax payable and increasing superannuation.

Up until now, employers were allowed to calculate super

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Set the right growth goals for your business this year

If you’re going to grow your company in the right way, pinning down your goals and having a clear vision for the business from the outset is vital.

You may want to increase profits and create an income that supports your lifestyle, or you are looking to increase market share and aim for hypergrowth. You may even be aiming to increase the overall value of the company to get the best return wh

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How healthy is your working capital?

We all know that cash is king when it comes to business success, but what exactly is ‘working capital’ and how does this financial metric help measure the health of your business?

Working capital is made up of the cash and assets that are available in the business to fund your operations and keep you trading. It’s worked out by taking your current assets (the things you own) awa

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COVID-19 Update

We would like to update you on our position with the developing COVID-19 (Coronavirus) situation, and the preventive measures we are undertaking.

 

As COVID-19 continues to circulate, we are monitoring and actively changing required processes as needed, based on relevant recommendations provided by the Australian government.

 

We will continue our work as usual, and we have already taken

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More Covid-19 Releif for Business

Over the weekend, more relief was announced for business including:
 

Deferral of Loan Repayments 
A little over a week ago, the Australian Banking Association announced a six-month deferral of all loan repayments for small businesses hit by the coronavirus pandemic.
 
On the weekend, this relief has now been extended to all businesses that have loans of up to $ read more...

NSW businesses set to receive $10k grant

The NSW government has now pledged $750 million to help small businesses across the state deal with the economic impact caused by the coronavirus pandemic.

The grants of up to $10,000 must be used for funding unavoidable business costs such as utilities, overheads, legal costs and financial advice.

To be eligible, businesses must be “highly impacted” by the Public Health (COVID-19 Rest

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JobKeeper Payment - rules announced

The JobKeeper payment is for businesses and not-for-profits that are significantly impacted by the Coronavirus pandemic, and the measures in place to restrict it.

The government package will give eligible employees $1,500 per fortnight for 26-week period, running from 30 March to 27 September.

The treasurer has now released rules governing the scheme. We will keep you informed as these are update

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JobKeeper eligibility for 16 and 17 year old employees has changed

From the fortnight commencing 11 May 2020, JobKeeper Payment eligibility for employees aged 16 and 17 years has changed.

If you have claimed, or intend to claim, JobKeeper payments for employees who were 16 or 17 years old on 1 March 2020, they need to have been independent, or not in full time study on 1 March 2020 in order to remain eligible.  

Your 16 and 17 year old employees will need to

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Reduce debtor days and improve cashflow

Managing the gap between the receiving money into your business and paying money out of your business is vital for sustaining viability.

Debtor days is the average number of days taken for a business to receive payment for goods or services. Keeping track of the average number of days for a business to receive payment is important in understanding the cashflow gap you might experience and the impa

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When should you offer casual employees a permanent position?

Recent court cases involving casual workers have increased attention on casual worker classification, which means your workers may be more aware of the ability to convert to a permanent position.

The law has not changed; however, these cases are good reminders for employers to be aware of the rules around converting casual employees to permanent positions.

What Makes an Employee Casual?

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The Fundamentals of a Business Budget

A business budget is one of the essential tools in managing your business finances and actively building your business.

A budget shows what you plan to do with your cash over the next year.

For a complete picture of your business health, you need to review the profit and loss statement, the balance sheet, the cash flow forecast and the budget. Taken together, these reports allow you to make infor

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Thinking of Buying a Business? Things to Consider

Buying an existing business can be a great way to get started as a business owner, or to expand operations if you are already running a business successfully.

Established businesses have already done the hard work of setting up a business, so you can get up and running on day one without a lengthy formation process.

Things You’ll Need

  • Why is the business for sale? - It’s importan
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Track and understand customers' shopping habits using cookies

You know what chocolate-chip cookies are, but what about the ‘cookies’ that websites ask you to accept and that are somehow linked to digital marketing?

HTTP cookies, to give them their full name, are small packets of information that are stored on your computer when you use a web browser. So, when you visit your favourite websites, you’ll have downloaded certain cookies onto you

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Restructuring or selling your business? We can help

This time last year, you might have been pondering Christmas bonuses or booking your summer holiday, but with a completely different business landscape in front of us, your head is no doubt filled with different questions.

I’ve decided to restructure. What’s the best way to do this?

Restructuring is never easy but if it’s necessary to keep your business afloat, there’s a pr

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Finding a business idea that fits you

Every business starts with an idea. It might be a crazy concept that’s never been done before or a twist on a common product or service. It might be something everyone will want, or it might fill a tiny niche in the market.

There’s no single way to find the best business idea – it’s about finding the one that suits you best. So how do you do that?

Find your passion

The best

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