The importance of business planning

When you are setting out and everything is moving so quickly, it’s easy to deviate from where you intend to be. If you don’t have a business plan, you might compromise growth or miss out on opportunities by sweating the small stuff and not focusing on what matters most. Having a clear business plan from … Continued

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Advantages of digital signing

Electronic signature software offers small business a number of time and cost-saving benefits. If you’ve considered going paperless but haven’t yet made the plunge, here are 6 excellent reasons to start using digital signatures today. 1. Get paid faster Digital signatures make it easy to close a sale on the spot, turn around contracts faster, … Continued

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How business dashboards can help you drive your business

As a business owner, you may appreciate the importance of monitoring key performance indicators but feel overwhelmed by the process—especially if you need to sign into to various applications to access a wealth of unconsolidated data. A business dashboard provides an at-a-glance view of your business intelligence, so it’s quick and easy to make sense … Continued

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Tips for keeping your business data secure

It’s no secret that data loss can be a costly nightmare for a small business, with recent estimates citing the total cost of data breaches exceeding $2.1 trillion by 2019. Unfortunately, cyber attackers increasingly target small businesses because they are less likely to have security protection in place. Accidental loss or loss due to a … Continued

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The three most important financial reports

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 … Continued

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Bookkeeping Basics for Small Business Owners

On average, small business owners spend 10 hours each week recording, organizing, and processing financial transactions – everything from accounts receivable and payable, to employee payments, expense receipts and supplier invoices. While the process may be time-consuming (and tedious!), effective bookkeeping is the foundation of sound financial management – which in turn, is the lifeblood … Continued

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Tax Issues to Consider When Buying a Business

In a corporate acquisition, different tax issues flow from the choice of acquiring shares or buying assets and assuming the debt of a target business. The decision can significantly alter the after-tax return for both the buyer and the seller. This article looks into several key issues that affect the value of the transaction. Satisfying … Continued

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Hosting Christmas Parties – Key Points for Employers

Festival season is upon us and no doubt many an employer’s attention is drawn to hosting an end-of-year party to celebrate the year’s achievements with staff. However, employers need to be aware of considerations such as tax obligations and health and safety regulations when it comes to hosting events such as a staff Christmas party.

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Bitcoins are Property Not Money, Says ATO

Bitcoin Image

The ATO recently released guidance about the application of various tax laws to Bitcoin transactions. The guidance was in the form of Draft Taxation Determinations TD 2014/D11 to TD 2014/D14, Draft GST Ruling GSTR 2014/D3, and a guidance paper. Australian Bitcoin businesses and users have been eagerly awaiting the ATO’s decision.

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Using KPIs to monitor & improve business performance

KPIs

The key performance indicators (KPIs) for one company will invariably be different from the KPIs of another firm.  What both hypothetical companies share however, is the challenge of selecting which KPIs are best suited for measuring the goals and progress of their particular business model.

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