It takes time, energy, and continuous effort to build a brand that attracts loyal customers and is rewarded by word of mouth referrals. Without a doubt, the good name you worked so hard to earn is one of your most valuable business assets; in addition to your solid customer base and positive employee relations, it … Continued
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For small businesses, working with independent contractors can be a life saver. You can hand over tasks you don’t have time for – at a fraction of the cost of an employee. Unlike staff, you won’t owe a contractor payroll taxes, unemployment insurance, health insurance, or other employee benefits. Because contractors aren’t employees, however, they … Continued
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It’s been said that a business partnership is a lot like a marriage, and the comparison holds true when things go awry: the end of a partnership is a lot like divorce. Lawyers will be involved and assets will need to be divided. However, a separation need not be overly dramatic or unnecessarily painful. These … Continued
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If growth is your primary goal, take note of these two essential sales strategies: cross-selling and upselling. Why? Because it’s much easier to sell to existing customers than to acquire new ones. According to Marketing Metrics, the probability of selling to an existing customer is 60 to 70 percent, while the likelihood you’ll sell to … Continued
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In today’s fast-paced, digital world, interacting face to face with clients and prospects may seem passé. In fact, face time is more important than ever. For one, you’ll stand apart from your competitors who only touch base with their customers via email, social media, and virtual conferencing. And by hosting in-person events that attract new … Continued
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If you have any doubt that word of mouth referrals are important, consider these recent stats: According to Neilson, 92% of shoppers trust recommendations from friends and family more than traditional advertising 20% to 50% of consumer purchases are made because of a word of mouth recommendation 81% of buyers are influenced by their friends’ … Continued
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According to Google, which offers employees a course on mindfulness meditation, and Lululemon, a company that keeps a Director of Mindfulness on staff, the answer is a resounding yes. Mindfulness, as American scientist Jon Kabat-Zinn defines it, is simply “paying attention in a sustained and particular way – on purpose, in the present moment and … Continued
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Change in business is almost always a good thing, but often poor management means that the workforce becomes disengaged and the change process painful. In the worst cases, this results in irreparable damage being done. It doesn’t need to be this way. Follow these nine steps and empower yourself to successfully lead your people through major … Continued
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Buying a business or trust requires careful consideration of several issues. This article is a checklist highlighting common areas of due diligence involving tax considerations and information you need to review related to whether the acquisition is accomplished by buying assets or shares in a company or interest in a trust. When you have your … Continued
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Small businesses can grow in boom times as well as periods of difficulty by working smarter and taking advantage of opportunities. Put these following effective tips into practise to help grow your business. 1. Utilise new technology Modern technology can save you time, improve productivity and reduce your operational costs. Make use of Facebook, Twitter, … Continued
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Expansion plans are often driven by a desire to boost sales in the hope that higher profits will follow and sometimes that works. In other cases, sales do go up, but profit stagnates. In the end you wind up working harder and longer for nothing.
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The key to maintaining a healthy balance of money flowing in and out of your business is to understand the cash cycle and take steps to improve it. A major concern for many businesses is maintaining a healthy cash flow.
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Commercial Associates (CAAA) are extremely proud to be accepted as the Sydney member firm of INPACT International – acting as representatives for Sydney and beyond. INPACT International is an alliance of more than 140 accountancy firms from 60 countries worldwide.
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In recent years ASIC has dealt with numerous audit failures where financial reports did not properly inform the market as to the poor financial condition of entities. Here are some lessons from that process.
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Did you know that your business – even the smallest company – may have a credit score that can affect its success and may contain errors? If you are not nurturing your credit score, you could be losing opportunities for financing, new customers, and credit with suppliers.
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All companies big or small have a registered office, even those companies strictly serving family interest or operating from home. Section 124 of the Corporations Act 2001 governs this area of law and stipulates that all companies must have a registered office, being a fixed physical address where communications and notices can be sent to … Continued
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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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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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In this Special Issue we summarise the key announcements of the 2014 Federal Budget. A full copy of Thomson Reuters’ 2014 Federal Budget Report is available.
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Selling or purchasing a business will be made easier after the Coalition government has agreed to a simple approach to the tax treatment of earnout arrangements. On 14 December 2013, the Assistant Treasurer announced that the government will proceed with the long-standing proposal to provide “look-through” treatment for qualifying earnout arrangements.
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