Investing in new fixed assets such as machinery, vehicles, technical equipment, or property can be a critical step in growing your business. You’ll generally need to choose between using cash reserves or seeking finance. While using cash avoids interest costs, financing allows you to spread the cost over time, keeping your cash available for other business needs. Using cash reserves or finance If you have surplus cash that isn’t earmarked…  Read more

Know when a new logbook is required Keeping a car logbook may be required to accurately calculate the business-use percentage of vehicle expenses (e.g., fuel, registration, insurance and depreciation) for tax deductions. Taxpayers can keep the same logbook for their car for five years, but there are circumstances where they may need a new one during that period. Relying on a logbook that no longer represents a client’s work-related travel…  Read more

Many businesses need to raise extra capital or funding at some stage in their growth. The first task is figuring out how much you need, and what it’s for. For example, you could be aiming to increase capacity by investing in new equipment or expanding your facilities. Or you might be planning to buy a competitor. Whatever the reason, the first part of your business case is to clearly define…  Read more

Running a small business comes with constant challenges, from changing customer demand and rising costs to market shifts and economic uncertainty. Sometimes, these pressures mean that parts of your business may no longer contribute to long-term growth. In these situations, restructuring can be a practical way to protect your business, refocus resources, and build resilience for the future. Audit and be honest The first step is to understand what your…  Read more

An online scam is any scheme delivered through digital communication channels that aims to steal personal information or defraud people of money. Being aware of potential scams is essential to protect your business, yourself, and especially your employees. Cold calling scams These scams involve callers attempting to impersonate a legitimate organization or government agency to extract personal or business payment details. They may try to sell fake products or services,…  Read more

$20,000 instant asset write-off extended The Government recently passed legislation to extend the $20,000 instant asset write-off for small businesses by 12 months to 30 June 2026. Taxpayers should note that if their business has an aggregated annual turnover of less than $10 million, they may be able to use the instant asset write-off (‘IAWO’) to immediately deduct the business portion of the cost of eligible assets which cost less…  Read more

Running a successful business requires you to make smart decisions about everything from who you hire to how you spend your money. There are many legitimate expenses to cover, but it’s easy to overspend in areas that aren’t helping you or your business. Spending wisely is key to owning a sustainable business. Here are four practical money saving tips for business owners. 1. Have a list of all your subscriptions,…  Read more

Many small business owners think they’re saving money by handling their financials themselves. While it’s a real asset to learn bookkeeping basics, cash flow management and your tax obligations, hiring an accountant to oversee your finances has many benefits. Leaving your books to a pro will free up time so you can focus on serving your clients and implementing plans for growth. Here are a few ways an accounting professional…  Read more

A business checking account is designed to separate personal and business finances. While some small business owners may be tempted to use their personal account when starting out, there are clear advantages to opening a dedicated business checking account, along with a few drawbacks to consider. Unlike a personal account, a business checking account is tailored for higher transaction volumes, integration with payment systems, and tools that support bookkeeping and…  Read more

When it comes to the overall success of your business, one of the most important decisions you’ll face is how to price for the work you do. Charge too much and you could scare away potential customers. Charge too little and you could run yourself out of business. Figuring out how much to charge is stressful, but it’s worth it. If your business doesn’t bring in enough money to pay…  Read more

Every business will have a particular way of tracking and measuring how its business is performing. If you can identify when key indicators deteriorate to a level that causes concern, you can take early action. The easiest cash flow warning trigger tends to be your monthly sales revenue; when it falls below a certain amount, you need to cover overheads or your growth target. The reason could be: The number…  Read more

Selling a business is more than negotiating a price with a buyer. It also involves meeting legal requirements, managing tax obligations, and structuring the sale to protect your interests and ensure a smooth transfer of business ownership. Whether you’re selling to investors, passing it on to employees, or transitioning to another owner, careful planning will minimize risks and help you move forward with confidence. This article focuses on Australian tax…  Read more

Running a business is much easier when you know what your financial reports are telling you. Three of the most important documents are the balance sheet, the profit and loss account (sometimes called an income statement) and cash flow statement. Think of these as your business’s health check-ups. What is a profit and loss account? A profit and loss account (P&L) measures how much money your business made and spent…  Read more

Stepping away from your business is one of the biggest decisions you’ll ever make. Whether you’re thinking about retirement, a career change, or simply want to free up more time, careful planning helps you stay in control and get the best outcome for yourself, your family, your team, and your future. Start with your personal goals Every business exit begins with your personal reasons. Without clarity on what you want…  Read more

Technology is changing the way businesses operate, from automating routine tasks to enabling smarter decision-making. Digital tools can save you time, reduce costs, and position your business for sustainable growth. When you bring the right technology on board, you can simplify day-to-day operations, strengthen collaboration, and make better use of your resources. Automate routine tasks One of the easiest ways to improve productivity is to eliminate repetitive manual work. Automation…  Read more

Running a small business comes with constant uncertainty, from market fluctuations and rising costs to natural disasters and changing regulations. For business owners, even a single unforeseen event can disrupt operations, affect cash flow, or threaten long-term survival. That’s why proactively reducing risk is essential: it protects your income, safeguards your reputation, and means your business can keep operating even when challenges arise. Strengthen the foundations A strong business will…  Read more

You started your business with plans of earning a living and being successful, but an unfortunate fact of business life is that companies suffer financial hardships. Whether those hardships are pandemic-related or linked to other urgent situations, the effect is still the same. Your finances are negatively affected and it’s up to you to lead the recovery. Here are 5 steps you can take to help your business recover after…  Read more

Mandating cash acceptance The Government recently announced that it was delivering on its commitment “to mandate cash acceptance for essential purchases by finalising regulations that require fuel and grocery retailers to accept cash from 1 January 2026.” The changes mean that, from 1 January 2026, most food and grocery retailers must accept cash for in-person transactions of $500 or less between 7am and 9pm. Small businesses with aggregate annual turnover…  Read more

In today’s fast-moving business environment, small businesses face increasing pressure to make well-informed decisions quickly. Whether you’re running a local café, a boutique agency, or an e-commerce store, having a clear and accurate picture of your financial position is crucial. This is where better financial reporting comes into play. While it may seem like just another administrative task, robust financial reporting can be a powerful tool for driving growth. Informed…  Read more

Running a small business comes with constant challenges, from changing customer demand and rising costs to market shifts and economic uncertainty. Sometimes, these pressures mean that parts of your business may no longer contribute to long-term growth. In these situations, restructuring can be a practical way to protect your business, refocus resources, and build resilience for the future. Restructuring is about more than cutting costs. It’s about examining every part…  Read more

You’re working hard, your sales are steady, and customers seem happy, but your profit margins aren’t where they should be. Many small business owners experience this frustration. Often, the issue isn’t one big problem, it’s a series of small, hidden leaks quietly draining your profits. Understand your true costs Profit margin leaks often begin with not fully understanding your actual costs. If you’re pricing products or services without accounting for…  Read more