Michael Derin
Surviving the government’s small business tax crackdown
The recent news that the Federal Government is pushing the National Tax Summit to October and will not be covering key tax issues such as GST, the proposed carbon tax and the mining tax is worrying.
Beware the Ides of March! Loyalty and leadership
How important is loyalty and leadership when getting a business up and running? In this blog post Michael Derin explores some lessons from history.
Is your business suffering from financial disconnect?
Have you ever wondered why it takes so long to have your tax return completed each year? Do you confidently know how your business is performing and what its financial position is? Do you suffer from not having accurate and financial information on hand to make important business decisions? If you answered yes to any of these questions then your business may be suffering from a financial disconnect.
How to optimise working capital for your business
2011 has begun with the same uncertainty we saw in the last quarter of 2010. Market reports on business performance continue to contradict each other, the economy persists to operate at two distinct speeds and consumer spending remains tepid.
How is 2011 looking for small business?
Reading the December/January issue of Dynamic Business I couldn’t help being drawn to the article on the New Year resolutions of the featured businesses.
How to break the micromanaging cycle
As an accountant and a virtual CFO, I work with a lot of small business owners and one of the most common mistakes they are often guilty of is micromanaging their team and working ‘in’ the business rather than ‘on’ the business.
How to avoid getting squeezed by interest rate rises and reduced lending
When it comes to interest rates, small businesses have had a rough time lately. They’ve had to cope with tough lending conditions from the big banks and now another interest rate rise.
How exporters can soften the blow of a high Aussie dollar
There has been much talk and speculation recently with the Australian dollar hitting parity twice with the US dollar in the last month alone (the last time parity occurred was in July 1982).
What debt recovery costs your small business
I have been asked by a Dynamic Business reader (thanks to @djcoombes74) to discuss the costs associated with debt recovery. The collection of debt is an important topic for businesses and an area that is often poorly managed.
Lessons on attracting investors from the Dragons’ Den
One of my favourite shows lately is Dragons’ Den on BBC sees entrepreneurs pitching their ideas to a group of savvy investors in order to obtain financial backing to get their innovation off the ground.
Hold on to your profits; we could be in for a rough ride
As someone who works with small and medium sized businesses I frequently get asked, “How are SMEs faring?” At the moment my answer would be they are operating amid a great deal of uncertainty. However, despite this many small businesses are focused on growth.
Engaging your team pays off
As a virtual CFO I’ve seen quite a few businesses undervalue the importance their team plays in having input in the strategic growth and direction of a business. Employees strive for more than just a pay check at the end of the month.
Why accurate figures matter
It’s been a busy few weeks in the Azure Group offices. Unusual for most accountants, but for us, it’s a time when our tax team and accounts teams combine to work on reconciling our client’s accounts, record year-end tax journals as well as collecting and collating compliance files for our clients.
So you want to be an entrepreneur?
There’s no special formula that will guarantee you success. It’s mostly a determined belief in your product that will see you through. However, my three tips for entrepreneurs are:
Financial management #FAIL
The other day I was asked why some small businesses fail and others succeed and it got me thinking about the defining characteristics of Australian small businesses.
Will a change of government be good for small businesses?
Attending the COSBOA National Small Business Summit earlier this month, I had the opportunity to hear both major political parties address small business owners and supporters.
National Small Business Summit wrap-up
Last week, I participated in COSBOA’s National Small Business Summit, which was held at Brisbane’s Convention Centre. The Summit brought together about 400 people who work, own or are passionate about small business.
Too many burdens for small business to bear
It’s been tough going recently for small businesses in terms of initiatives introduced by the Government. While it may seem the Government is acting for the greater good, small business will bear the brunt of many of these changes.