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 … Continued
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One classic mistake business owners make when money gets tight is to stop marketing or cut their marketing budget. At first glance, it seems logical to cut down your expenses during tough economic conditions. However, in reality, it’s the opposite of what you should do. When your business is struggling, cutting your marketing budget will … Continued
Read More >>Directors Gather personal details Do they ordinarily reside in Australia (you need at least 1) Can they act as director Are they a bankrupt Is directorship subject to professional or licencing rules Do they hold assets in their own name Will assets be exposed to business risk Shareholders Gather personal details Is the person a … Continued
Read More >>Companies and the formation thereof are governed by the Corporations Act which in turn is administered by the Australian Securities and Investments Commission or ASIC. To find out more about the Corporations Act see https://www.legislation.gov.au/Details/C2018C00424 or visit the ASIC website at https://asic.gov.au to find out more about what they do or the resources they have. … Continued
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The Federal Treasurer, Mr Josh Frydenberg, handed down the 2021–22 Federal Budget at 7:30 pm (AEST) on 11 May 2021. The Australian economy has recovered faster than expected from the COVID-19 recession, with the budget presenting a deficit of $161 billion, which is $52.7 billion lower than expected. Focusing on recovery, the budget this year … Continued
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Small business owners know that to find a loyal customer base, they have to stand out from their competitors. One of the best, and easiest, ways to do that is to have outstanding customer service. How you treat your customers reflects your entire business. People think positively on companies that treat their customers and clients … Continued
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There are many people who believe that when it comes to investing, nothing beats real estate. This may be true, but you still have to be smart when making your real estate investment decisions. Although investment properties can be a savvy financial move, there is plenty that can go wrong if you don’t fully … Continued
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Generation Z are the largest generation ever, comprising around 20% of Australia’s population and almost 30% of the world’s population. Globally there are almost 2 billion of them. According to mccrindle, they will make up 25% of the workforce by 2025, and work 18 jobs across 6 careers and live in 15 homes in … Continued
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At face value, it seems like a great idea. I you’re a small business owner with just a few employees, you probably think that hiring a payroll specialist is an expense that you can avoid. You feel that you can handle it yourself. You have the best intentions to keep your staff paid right and … Continued
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Some small business owners find themselves in the difficult position of running a business that appears to be profitable, but still having no money in the bank. It’s an important situation to address. After all, a lack of adequate cash flow is one of the main causes of small business failure. Here are three reasons … Continued
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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. If you charge too much and you could scare away potential customers, charge too little and you could run yourself out of business or face liquidation or bankruptcy. … Continued
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Nobody wants their business to fail. Although it’s impossible to predict the future with 100% accuracy, a cash flow forecast is a tool that will help you prepare for different possible scenarios in the future. In a nutshell, cash flow forecasting involves estimating how much cash will be coming in and out of your business … Continued
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What is it? Illegal phoenixing involves the transferring of an entity’s assets, thereby denying creditors’ access to those assets to meet unpaid debts. This usually happens when company directors transfer the assets of an existing company to a new company without paying true or market value, leaving debts with the old company. The old company … Continued
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Having total control over your finances can give you an amazing sense of freedom. However, it takes a lot of discipline and hard work for you to be able to achieve this. In this article, we will share some of the most useful tips that you can start now to live a better financial life. … Continued
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Everyone wants to achieve financial independence. However, until you have enough income-generating assets, you are unfortunately dependent on someone else such as your employer. Investing in properties, when done right, can provide an ongoing income stream and a cash lump sum when you decide to sell it. If you are a first time property investor, … Continued
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Everyone wants the best for their family, and this includes being financially sound.. This doesn’t mean it’s just about having money– it is about wealth in all aspects of life. In this article, we will share some life lessons you must teach your kids while they’re young to help them grow into adults who can … Continued
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Most investors would love to be the next Warren Buffet, arguably the most successful investor ever, and yet many investors ignore his investment methods. Instead, they follow simple tricks and use simple definitions that miss undervalued stocks primed for growth. Successful investors such as Buffet take a broader view of investing and consider many commonplace investment … Continued
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When you’re an entrepreneur, your to-do list is often long and constantly growing longer. There are an overwhelming number of things you need to do, and it can feel like they’re all urgent. In such cases, it’s easy to push important tasks to the side and focus on less-vital activities, but that often means you … Continued
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If you’re like most people you’ve probably gone for periods of time without really thinking about how you spent your money. Maybe you even avoided looking at your bank statement so you wouldn’t see how much money you spent and how little you saved. It’s something a lot of people do, especially nowadays when we … Continued
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As you well know, the COVID-19 pandemic is not just a public health issue, it’s also caused lockdowns and resulting financial worries on a global scale. As restrictions lift around the country, and in particular Victoria opens back up for business, now is the time to foucs on recovery. Small businesses are not strangers to … Continued
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