In the world of small businesses, positive cash flow is king. It’s the driving force that keeps your business engine running smoothly, covering all your liabilities. But what happens when outflow exceeds inflow? Cash flow problems ensue, threatening the survival and growth of your business. These cash flow problems can originate from a variety of sources including macroeconomic issues like recessions, natural disasters, and wars, as well as microeconomic issues…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Unemployment better than expected, dampening hopes of early rates cut Australia’s unemployment rate has risen slightly to 3.8 per cent after 6600 jobs were lost in March, a stronger-than-expected result that will likely end any chance of a mid-year interest rate cut. Macquarie Bank slapped with $10m fine after failing to…  Read more

The power of a well-crafted email signature is often underestimated by professionals and businesses alike. Your email signature is essentially your calling card: it’s where you can share information about yourself and your company, like your website and social media profile links.  It can also include the company logo and highlight current promotions or links to products you want to boost sales of. Here are 4 tips for creating your…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Australia’s economy: A mixed bag with signs of slowdown Amidst a backdrop of economic intricacies and evolving market dynamics, Australia’s fiscal landscape is both nuanced and volatile. As the Reserve Bank of Australia (RBA) maintains a cautious stance, retaining the cash rate in its recent deliberations, the nation’s economic…  Read more

If you’re like many business owners, you may find yourself struggling to understand what your finances mean or how you can use your financial information to make decisions for your business. Often we get into business because we love a product or service we want to provide. It’s not as common that we love managing the financial aspects of our business.  As a business owner, you have your best chances…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Startling images reveal the truth about who owns most major brands found in the big two supermarkets A compelling illustration by a graphic design enthusiast has revealed the sheer concentration of ownership of popular brands found in Australian supermarkets. Strolling through the aisles of a Woolworths or Coles, shoppers…  Read more

How to claim working from home expenses Taxpayers who have been working from home this financial year, and who consequently incurred work-related expenses, have two ways to calculate their work from home deduction: the actual cost method; or the fixed rate method. Using the fixed rate method, taxpayers can claim a rate of 67 cents per hour worked at home. This amount covers additional running expenses, including electricity and gas,…  Read more

When you run your small business, you have a lot on your plate. That makes it tempting to let some tasks slide, especially tasks that are related to finances, which can be challenging and is often outside your preferred skill set or experience. There are some tips you can follow that keep your finances healthy and enable you to thrive. Here are some financial best practices for managing your business,…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Australia’s inflation rate comes in lower than expectations in February at 3.4% ABS data shows consumer price index is stabilising, which will feed into the RBA’s next interest rate decision in May. Inflation has held steady for the second month in a row, as cheaper meat and seafood helped offset…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Australia’s job boom sees unemployment rate fall Australia’s unemployment rate has fallen to 3.7% in February, according to data released by the Australian Bureau of Statistics (ABS), with around 116,000 people starting jobs in February. Resilience of Australian Households and Businesses In its latest Financial Stability Report released today, the…  Read more

If you’re considering selling your business, the process should begin long before you put the ‘For Sale’ sign up. Selling a business is not just a major financial decision but a life-changing one that requires meticulous planning and a strategic approach. In order to get the maximum return on your investment, you need to understand what potential buyers are looking for and make your business as attractive as possible. Step…  Read more

Customer service is the heartbeat of any successful business. It’s the unsung hero that transforms a potential disaster into an opportunity, and a mere transaction into a lifelong relationship. In the narrative of customer loyalty and retention, service is the protagonist. Your approach to customer service has the power to attract and retain customers. Why stellar customer service is key The importance of customer service for loyalty and retention cannot…  Read more

Marketing can feel like a daunting task for small business owners. If you’re new to the game, or maybe you’ve been in business for a while and just haven’t quite cracked the code, navigating the world of marketing can be overwhelming. But it doesn’t have to be. Your business deserves to be seen, heard, and thriving – and with the right guidance, you can make marketing work for you. Let’s…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Cost of living relief coming, just not a big budget cash splash Australians can expect some fresh cost of living relief in May when the federal budget is unveiled, but Treasurer Jim Chalmers has ruled out a big cash splash. Business conditions improve in February February saw an uptick in business conditions as the…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Australian economy grows ‘a little but not a lot’ Australia’s economy grew by 0.2 per cent in the December quarter, the smallest increase in more than a year but one that nonetheless pushed the nation to nine successive quarters of growth. Almost 1 million Australians are working at least two…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Inflation remains flat at 3.4% in January, fuelling hopes of RBA interest rate cut Inflation remained flat in January at a two-year low, helped by falling prices for meat and seafood, stoking hopes the Reserve Bank may bring forward interest rate cuts. NAB CEO on the economy, simplification, and…  Read more

Let’s talk about your phone habits. It may not be a pleasant topic to discuss, but it does matter. How you use your phone can have a huge impact on your life and on your business. Sounds dramatic? Not at all. These mini pocket-sized computers are with us all the time and the constant flow of notifications can interrupt our workflow incessantly. Your mobile habits significantly impact your concentration span.…  Read more

Welcome to our Weekly Digest – stay in the know with recent news updates relevant to business and the economy. Employer audits to surge, ATO warns The ATO has warned businesses of an increase in employer audits, as it plans to double the number of audits for 2023. The surge is due to a focus on Super Guarantee (SG) compliance. The ATO emphasised the importance of businesses meeting their SG…  Read more

As a business owner, you’re the architect of your business’s vision and culture. But in the hustle to develop products, chase sales, and keep the lights on, some of the foundation often gets lost in the mix. Core values—those guiding principles that shape your company’s identity—are more than just words on a wall or a statement in a handbook. These aren’t just buzzwords to sprinkle throughout your website – your…  Read more

When was the last time you felt that you had a week’s worth of energy to pour into just four days of work? As COVID-19 has reshaped our work-life balance and continues to redefine what is essential in our professional world, the concept of a shorter workweek is gaining traction. With proposed legislation in various states and countries, and the ongoing conversation among professionals, it’s evident that the discussion around…  Read more

For a business to thrive and grow, it essentially needs two things: a strategic plan and an ability to continually find new customers and tap into promising markets. Here’s how you can do that. The untapped potential in existing markets Start by re-evaluating your existing customer base. Profiling them will help you to more accurately define who your target consumers are. Explore different distribution channels that could be more effective…  Read more