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
As a small business owner, you’re likely already wearing many hats. But the hat of a financial analyst might seem a little oversized, particularly if your background isn’t in finance or accounting. However, understanding financial ratios can be a game-changer for your business, helping you assess your business’s financial health and make informed decisions. Financial ratios: what are they? Think of financial ratios as a thermometer for your business’s financial… Read more
Retirement is a significant milestone that brings with it the need for careful planning and financial security. A well-planned retirement ensures that you can maintain your desired lifestyle without worrying about running out of money. One of the key components of successful retirement planning is seeking good financial advice. Obtaining professional financial guidance can contribute to a secure and comfortable retirement. The Benefits of Good Financial Advice Tailored Retirement Planning… Read more
Among those activities, financial reconciliation plays a vital role in keeping your finances–and your business–on track. Here’s what you should know about financial reconciliation and how it can help your business. What is financial reconciliation? Financial reconciliation is a process of ensuring your financial records are consistent and accurate. Basically, when you conduct a financial reconciliation, you review financial statements and compare them with your bank statements, credit card… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Economist predicts rising interest rates will soon finally ease Independent economist Saul Eslake predicts that interest rates will settle somewhere around 2.5% by the end of the year. Vegetable prices set to get back on track Growers are reporting that they are starting to catch up after flooding devastated… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Business Council suggests rebranding to entice overseas workers To help weather the storm of high inflation, supply chain issues, and a skilled worker shortfall, Business Council of Australia released a paper proposing we “rebrand” to convince foreign workers to relocate here and help the economy. Economy in trouble as… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Mortgage payment struggles lie ahead for homeowners RBA Deputy Governor Michelle Bullock estimates that 30 percent of homeowners will struggle to make mortgage payments as interest rates rise. Payment increases of 40 percent may be seen among homeowners who took advantage of record low fixed rates just five years… Read more
