Finding safe harbour when business is rough
Australia’s economy is growing at a slower pace than many would like, with small businesses in some sectors doing it tough. Recognising the warning signs of potential insolvency is key to trading through difficult times.
5 signs of a well run business
Every small business owner wants their business to thrive, but it can be tough to keep the money coming in the door while staying on top of all the necessary paperwork.
One way to ensure success is to understand the behaviours that separate a well-managed business from one that’s just muddling through.
Surprising as it may sound, the ATO is keen to help small business owners prosper and to share its insights on running a successful business.
Decoding real estate agent speak
First-home buyers (and even second- and third-home buyers) are often baffled by the jargon used by real estate industry professionals. This can result in expensive misunderstandings unless you take the time to learn the lingo.
Here are some frequently misunderstood terms and concepts you should familiarise yourself with before you begin searching for your dream home.
Tax and your website: What can you claim?
Most small businesses and independent contractors have a website these days. If you are planning to launch a new website or refreshing an existing one, it’s important to understand the tax implications. As with all things tax, it’s not always easy.
Small financial steps add up
Sometimes, when thinking about your long-term financial goals, they can seem so big as to be insurmountable. But the truth is, those that achieve financial success don’t usually do so by encountering a sudden windfall. Rather, they have in place a set of small habits that allow them to work towards their dreams. And by investing small amounts over the long-term, they see big outcomes.
Is your dream retirement in reach?
Planning your dream retirement can be an exciting time. The chance to travel overseas or around Australia without having to rush back to work, time to pursue new hobbies, learn a language or spend time with the grandkids. The possibilities are endless, but what will it cost?
Keep your cash flowing
As we head into the Christmas holiday season you are most likely looking forward to some relaxing times ahead, but one thing that should not be taking a break is your cash flow.
Invariably there will be a blowout in your personal spending over the Christmas period on food, presents and holidays, while the normal household bills keep rolling in.
It’s much the same for businesses. It can be all too easy in the busy lead-up to Christmas to let chasing bad debts and invoicing clients take a back seat. But if you don’t act now, you may not see any cash until February. Meanwhile your regular bills will still be coming in and wages will also need to be paid.
So what can you do to make the holiday season financially stress free?
How to avoid unwanted ATO attention
Nobody wants to attract unwanted scrutiny from the ATO. Tax audits can be stressful and potentially costly.
Young invincibles – the importance of insurance
When you are young, healthy and just starting your working life the last thing on your mind is life insurance.
Weighing up the cost of risk – insuring your business
Running your own business can be rewarding, but there is also risk involved when you put your own money and reputation on the line. What would you do if your shop was destroyed by fire, a client sued over advice you gave, or your business was disrupted for months in the aftermath of a freak […]