The expression “cash is king” has been around for years. Now, more than ever, as times are more difficult for business, business operators must ensure that they protect this critical asset of their business structure.
Depreciation has been made simpler for small business in the 2012-13 income year. There are three primary changes and they may impact your timing of asset purchases.
Growing a business is a lot like raising children: it will need a lot of nurturing and care to be healthy and self-sufficient. So, when was the last time you sat down to spend some quality time making plans for your business?
They say there aren’t too many benefits of ageing, but a scheme called the Transition to Retirement Pension allows for bit of nifty restructuring that can reduce wages and increase cashflow – two benefits not to be sniffed at.
Sales is the lifeblood of any small business. To become sales rockstars and keep up with changing consumer wants and needs, business owners must review some basic do’s and don’ts of the selling process.
The word “budget” can evoke a range of different feelings: dread and disappointment or pride, a sense of direction and achievement. However you might feel about them, the truth of the matter is budgets are a highly underrated business tool.
Thanks to changes outlined in the 2012/13 budget, business owners need to be aware of a number of superannuation contribution changes due to come into effect on July 1. Use this expert advice to ensure you don’t break the law.
Having your business annual financial reports completed can be met with the same level of enthusiasm as a visit to the dentist. But there are number of very good reasons, beyond preparing a tax return, as to why business owners need to keep on top of their reporting.
A large part of business efficiency is ensuring that any expense incurred is spent in the best way possible to progress the business. The idea of cutting expenses endlessly may well not prove the best way forward – instead, expenses should be carefully monitored at all times.
Results matter in a small business, after all it’s your bank account we’re talking about, and the way to achieve good results is to take some time to think creatively about your marketing strategies.
