New Family Trust Tax Rules – Will it Impact You?
New Family Trust Tax Rules – Will it Impact You? If your trust pays adult-child beneficiaries, then you’ll need to know how the new ATO tax guidance rules could alter your beneficiary arrangements. The proposed changes won’t affect every small business operating through a trust arrangement. But it’s important to check that existing provisions meet […]
Your ABN: Is it Still Active?
Your ABN: Is it Still Active? Is your ABN still active? The ATO has brought in an automated cancellation notification service for potentially inactive Australian Business Numbers (ABNs). Suppose you haven’t had any business activity or are behind in getting your activity statements lodged. In that case, the ATO will review your ABN. Then they […]
New Startup? Marketing Tips to Grow Your Business
New Startup? Marketing and Promoting Your Business Even with the best products and services in the world, you won’t make many sales if your intended customers don’t know about your business. To raise awareness of your brand and kickstart your sales process, you need to start marketing and promoting the business. Sales and marketing don’t […]
New Startup? Establish a Mission Statement
New Startup? Establish a Mission Statement You’ve had your initial business idea and written a plan. But do you know WHY you’re creating this business or HOW you’ll deliver your end product/service? What will the company’s underlying purpose be, and how will your core values drive the business? To get these crucial elements ironed out, […]
New Startup? Define Your Business Idea
New Startup? Define Your Business Idea Having that Eureka moment when you cook up a great startup business idea is a great moment. You’ll be full of ambition and eager to begin building your startup. But once you’ve had that initial rough idea, how do you assess and plan out your business idea to make […]
New Startup? Need Funding?
New Startup? Need Funding? A great business idea is an excellent starting point for a company. But without startup funding to provide the necessary capital, your business idea could be dead before it’s even begun. To quote a well-worn phrase, ‘Cash is King’ means it’s critical to start thinking about funding as early as possible. […]
Compliance: Setting up the Right Foundations
Compliance: Setting up the Right Foundations To trade as a business, you need to meet the right compliance requirements. It’s certainly not the most exciting part of creating a business. Still, setting up the right compliance foundations ensures that you’re doing everything by the letter of the law. Let’s look at the main steps to […]
Are You Suffering from Business Burnout?
Are You Suffering from Business Burnout? The last two years have been demanding and exhausting for many business owners. Are you one of them? Could you be suffering from business burnout? The challenges have been relentless, and we know many small business owners have had to navigate unprecedented demands because of the pandemic and related […]
E-invoicing: How Can it Protect You?
E-invoicing: How Can it Protect You? Is your business using e-invoicing? It’s a fantastic way to protect yourself and your customers from invoice scams. It can also help you get paid faster. E-invoices replace emailed PDF invoices or links to online invoices. Instead, e-invoices are delivered securely to your clients, even across different accounting systems. […]
How to Improve Your Procurement Spending
How to Improve Your Procurement Spending One of your most significant areas of business expenditure will be buying the goods and services needed for the company to operate. Whether these are raw materials, wholesale goods, or cloud services, you need someone to control this procurement process. Managing your procurement spending is vital for keeping the […]