Advice
After spending years getting yourself up and running, working on sales and the front end, it’s likely that the back end – accounting practices and accounts receivable – have been somewhat forgotten. With more and more companies defaulting on payments, going into administration and getting wound up by the ATO, now more than ever is the […]
Growing a business is a special talent, part science, part art and doing it well can be one of the most rewarding life experiences. It can also spell financial disaster from which it is very difficult to recover, when things don’t go well. In this article we discuss 5 common mistakes made by businesses. Cash Flow Cash […]
Starting a business is all about communicating the benefits of your service or product to the appropriate audience. Although fairly straight forward in principle, the complexities of executing this vary for every business. To get up and running, most service businesses begin by undertaking project based work. They tender for a job, set a price […]
It’s easy to believe that workplace accidents happen to ‘other people’. The reality is that workplace accidents can, and do, affect a great range of people and the impact on workers, families and businesses can be devastating. Fortunately, credible legal support is available. By utilising the services of a law firm that specialises in worker’s […]
This article will focus on the best internal collection practices for your small business. This article assumes your business already has a credit policy in place and a collection policy in place. Also keep in mind that this article is focused on commercial as opposed to consumer collection matters although there are similarities between the […]
The end of a calendar year marks a moment in time when we consider the goals we set for ourselves and measure them against what we achieved. We reflect on what went well and what needs improvement and we use those reflections to set our goals for the year ahead. What we don’t often do […]
As a business owner, you are in charge with making sure that your company’s productivity is at its maximum capacity. You don’t want to catch yourself waiting for things to happen – as an entrepreneur, it is your duty to have things well rounded-up and functioning. There are many ways to make sure things are […]
Setting ambitious growth targets for the new year can ensure you hit the ground running, but the effort could be wasted without the cash flow to fund them. The coming Christmas and New Year break is the perfect time for businesses to assess this year’s results and set priorities and growth targets for 2016. A […]
There are two kinds of startups – those who succeed and others who constantly try. In Britain, at least half the companies fail to last more than five years and in the US, three out of four startups are going bust without managing to turn a profit. The team and leader define the success of […]
In global terms, Australia is an expensive place to do business. Wages, rents, taxes and regulation combine to make conditions here tougher than in many other countries. As a result, Aussie small and mid-sized businesses are constantly on the lookout for ways to keep a lid on operational costs. By identifying areas in which savings […]
You want to grow your business but you’re struggling. Perhaps you’re out of ideas, or the ones you have are stale, and you’ve got a limited marketing budget. One option, which can be a win-win-win in terms of exposure, partner and customer relations, is to hold an event. Not only does it get your brand […]
For many SMEs, the question around innovation isn’t if or when, but how. Andrew Pearce Partner at McLean Delmo Bentleys, provides tips for SMEs looking to innovate within their business. Most SMEs are keen to ensure their business not only stays relevant but it thrives in an ever-changing, digitally- driven environment. In fact, almost a […]
Family is one of the most important units of society. These are the people we’re closest to. We share history. We love them. We trust them. We spend a lot of time with them. Starting a company together can be a great idea. And a great risk. There are many successful family businesses. Many small […]
There may be times in your business where as a small business owner you may have to look for a new accountant. This could be because you are setting up a new business in itself or in conjunction with your existing businesses, and would like advice on tax planning. It could also be because you […]
The digital age has given us a lot to be thankful for. With the ability to transfer information freely and quickly, we have never been better connected with information, resources and people. It’s easy – with only a few touches of a keypad, we need not speak, travel or put on our best corporate attire […]
Surviving in the crazy busy modern workplace has resulted in our adoption of some new strategies designed to save us time. The problem is no one appears to have done the necessary checks that these actually work. The one strategy most widely adopted has turned out to be the worst performance enhancing strategy ever, because […]
Business owners can be cautious thinkers, looking out for every possible roadblock their business may encounter. It is a both a blessing and a curse, as there are situations when it can serve a business owner well and other times, being ultra conservative can be a hindrance. Being over cautious is often the case when it comes […]
The majority of small to medium sized businesses (SMEs) are not sale ready to take advantage of maximising the sale price when they sell. Approximately 50 per cent of businesses that have sought advice are not in a position to do so. In 2014 middle market mergers and acquisitions increased by 21 per cent according […]
If you’re a business, the lifeblood of your business comes down to one thing – cash flow. If you have bottlenecks in cash flow, it makes life tougher and it can be hard to catch up. When cash flow is tight, you may feel that necessary asset purchases such as cars or equipment need to […]
Small businesses are the heart of the Australian economy, but how do they compete with the big end of town? The big end of town is big businesses that have been successful for a reason and have learnt not only from peers, but also their mistakes. To rise amongst the over two million businesses operating […]
