Three tips for managing construction industry cashflow

Xperion

Owning a small business in the construction industry can be incredibly stressful. In addition to the long days and difficult working conditions, you have to worry about cash flow issues. It can take a long time to collect on payment from your clients or contractors who hired your business, and in the meantime you have to pay employees, cover fixed expenses, buy supplies and pay your own subcontractors. Here are…  Read more

Essential Tips to Help You Sell Your House Quickly

Bizink

Once you’ve made the decision to sell your home, chances are you’d like to do it as soon as possible. While some houses sell almost as quickly as they hit the market, others sit for a considerable amount of time without generating any offers from prospective buyers. Fortunately, there are several steps that you can take to increase the odds that your house is in hot demand and sells quickly.…  Read more

The three most important financial reports

Bizink

While many small business owners prefer brainstorming new ideas to pouring over financial reports, getting a handle on financial analysis can be remarkably empowering. Taking the time to regularly review financial statements can help you assess and improve current performance, avoid risk and make scalable plans for future growth. Protect your company’s financial health by learning your way around these three financial reports. Cash flow statement The cash flow statement…  Read more

Five Undesirable Customer Types

Bizink

Every businessperson knows that not all customers are created equal. Some customers are loyal, while others will stray if they’re offered a slightly lower price elsewhere. Some clients are demanding, while others only call when they wish to place an order.   Every business must deal with a variety of customers. But there are certain types of customers who do more harm than good to your business – they drain…  Read more

5 Cheaper Ways to Advertise Your Business

Bizink

Advertising is an essential component of success for any business. Proper advertising ensures more sales, but if you choose the wrong options, it can be a very expensive proposition. Let’s look at five ways you can reduce your business’s advertising expenditure without affecting your results.   Referrals A referral program encourages your current customers to send their friends to your site, and to earn rewards for their efforts. It’s a…  Read more

What are the warning signs of employee fraud?

Bizink

Billing schemes. Skimming. Check tampering. Employee fraud is a real risk for entrepreneurs of fewer than 100 employees. In fact, according to the Association of Certified Fraud Examiners 30% of fraud cases take place in small businesses. This article will help you identify the most common signs of fraudulent activity before an unscrupulous employee destroys your business. Identifying high risk employees When an employee has something to hide, their conduct…  Read more

Tips for getting rid of slow moving stock

Bizink

Stale inventory is a costly nuisance for any business owner. Ideally the rule of thumb is to sell the goods taking up space on your sale floor within 90 days; after the three month mark stale inventory becomes dead inventory. Products are much harder to move and nearly impossible to get top dollar for. Fortunately there are a number of ways to recoup at least part of your investment on…  Read more

How to Avoid Costly Inventory Problems

Bizink

Inventory is the lifeblood of your business. It is the largest asset on your balance sheet and your company’s biggest revenue-generator. It goes without saying that poorly managed inventory can do serious damage to your bottom line. Businesses without clear strategies for streamlining the in and out flow of goods will have trouble meeting their customer’s demands and will see mismanaged stock corrode their profits. Follow these tips to ensure…  Read more

Tax Season Tips for Small Business Owners

Bizink

Preparing for tax season is really a year-round endeavor. Tip number one for SMB owners is to update financials on a monthly basis, using a streamlined software or cloud-based system. This way, come tax time, everything you need is all in one place. And well organized SMBs are better positioned to minimize their tax bill while avoiding penalties associated with missing or inaccurate information. Here are four more ways to…  Read more

Eight Characteristics of successful small businesses

Bizink

We now look at eight characteristics important to successful businesses. International researchers who have studied many small businesses have found that these characteristics consistently play a part in the success of small companies.   The eight characteristics are: Owners leading by Example Having a simple business structure Information sharing among employees Staff are carefully chosen Staff commitment and loyalty A unique product or service A specific Customer focus Prompt follow…  Read more

The importance of documenting processes and systems

Bizink

Many entrepreneurs operate with their business processes and systems in their heads. They know what they need to do each day and the way they want to get things done. Unfortunately when a business grows and staff need to be hired – or the owner needs to take time away from the business – it’s a real liability not having processes and systems documented in one place. Read on to…  Read more

Save time with appointment booking apps

Bizink

Like other time saving apps, tools designed to automate your booking calendar are a huge boon to busy small business owners. Put an end to time-wasting telephone tag and those endless back and forth emails with any of these 4 popular scheduling apps. Calendly Calendly is a popular app for consultants, coaches, solopreneurs, freelancers and other professionals who regularly book client meetings. With a clean intuitive interface, invitees can choose…  Read more

Social Media Etiquette: 12 Quick Tips for Professionals

Bizink

With social media, you can connect with business associates quickly and creatively. But this communication mode is not without risk. A thoughtless post can offend customers and other business partners and damage relationships rather than build them. By following a few ground rules you can be confident your comments and posts will be appropriate ones.   Abstain From Posting or Tweeting Certain Information If you aren’t sure it’s acceptable to…  Read more

Recent developments in payroll tax and medical practices

Xperion

Are you a general medical or allied health practice? If so, you are probably worried about the recent developments in payroll tax cases. What was the case that started it all? In Victorian case The Optical Superstore Pty Ltd & Ors v Commissioner of State [2018] VCAT 169, the Applicant (Optical Superstore) was the owner and operator of an optical clinic. The Victorian State Revenue Office raised amended assessments for…  Read more

Client of the month – January (Restaurant Dan Arnold)

Xperion

After spending 7 years working in Michelin star restaurants in France, Dan Arnold has returned to his home, Brisbane, to open his first restaurant – Restaurant Dan Arnold. Let’s just say that he returned with so much experience and his food speaks for itself. Dan arrived in France in 2010, worked at 3 Michelin star restaurant l’Espérance, and after was sous-chef of Serge Vieira, Bocuse d’Or 2005 and Two Michelin…  Read more

Common errors with GST withholding rules for property transactions

Xperion

GST withholding… The ATO has noticed some common errors made in activity statements since the introduction of “GST at settlement” on 1 July 2018.  These new laws require purchasers to withhold GST on settlement (and pay it to the ATO directly) generally when buying ‘new residential premises’ from developers. In particular, the new “GST at settlement” law does not affect a supplier’s obligation to lodge their activity statement and report…  Read more

Continued focus on the cash economy

Xperion

ATO Assistant Commissioner Peter Holt has announced that, in the 2019/20 financial year, the ATO will be visiting a further 10,000 small businesses across the country, including up to 500 small businesses in Tasmania. He further said that businesses that advertise as ‘cash only’ and businesses that are operating outside of the ATO’s performance benchmarks for their industry will be especially targeted for a visit from the ATO. “Businesses that…  Read more

Real estate agents and commissions only remuneration

Xperion

Hopefully all of you know about the changes that happened last year, in April 2018. It is now though, 12 months later that you need to look back and ensure that you comply with the Fair Work and Real Estate Industry Awards and that your staff that have been on commission only, can continue to do so. What were the changes introduced? New broad-band classification structure The old job titles…  Read more

Client of the month – March (Mums4Hire)

Xperion

We were so excited when Nitha, one of our favourite clients and the one with a successful recruitment business, decided to setup another business purely focusing on amazing mums returning to workforce. This is what she has to say about her WHY: “Our goal is to give mums a helping hand back into the workplace through flexible work arrangements with employers who support mums. Our employers understand how challenging it…  Read more

Client of the month – September (Apromo Trading)

Xperion

For over 30 years Apromo has been supplying quality European patisserie ingredients, Belgian couverture, semi-finished products, gourmet foods and frozen Danish and desserts – to chocolatiers, patisseries, restaurants, hotels, bakeries, and caterers. That’s right, Apromo Trading has been operating in Sydney since 1987! That just proves that we all love chocolate! Their core business is twofold:  To supply high quality European ingredients and semi-finished products to Australia’s leading chocolate manufacturers,…  Read more

Client of the month – March (Pinnacle Properties Qld)

Xperion

Our client of the month for March is Von and John Barnes from Pinnacle Properties Qld a real estate agent located in Enoggera. Pinnacle Properties had its official launch last month which was formally opened by the Honourable Teresa Gambaro MP Federal Member for Brisbane. Xperion assisted Von and John in a number of areas for their new business venture, including; putting the right business structure in place setup and…  Read more