The start of a new financial year is always a good time to look at financial plans and activities that will help grow your business over the next 12 months. Planning the financial year is even more important now, as businesses deal with economic challenges, high interest rates, and low consumer confidence. Commentators and economists have varying […]
For an SME, managing cash flow isn’t all about profits. Future profits are useless if you don’t have a steady cash flow to pay debts in the meantime. Rob Lamers, CEO of Oxford Funding, shares his expertise on managing cash flow and balancing the books with SME owners. The true success of a business comes […]
Accountants are an important part of an SME’s operations, but like the dentist, if business owners leave consulting an accountant until it’s too late, the pain can be excruciating. Gavin Dixon, CEO of Reckon Limited’s Business Division, recommends you regularly consult your accountant. For new businesses, select an accountant that best suits the company’s needs. […]
Whether it’s the end of the financial year, or not, you can always take some time out to reduce your tax liabilities. Take a look at this checklist to see how you can reduce your tax. Pay expenses before 30 June to get any tax deductions this year If payments for liabilities are made on […]
Small business owners are showing strong interest in self-managed superannuation funds and saving for retirement and for when they’re no longer working full-time. However, often, your self-managed super fund (SMSF) becomes your new ‘small business’. Read on to see how you can make the most of superannuation. Many businesspeople have been hesitant to start an […]
The changes to superannuation over the past two years have created an exciting opportunity for SME owners. Even if you’re nowhere near retirement age, you now have the ability to use superannuation to grow your business, control premises and provide for a comfortable retirement all at the same time. Recent changes relevant to SMEs, in regards […]
In the age of mass customisation, intense competition and globalisation, trade receivables management is increasingly complex. Today’s unstable economic environment means you’ve got a lot to worry about in terms of credit risk. So here’s how you can address and remove credit risk. The world of credit risk has many facets and events unfolding around […]
Australia has been benefiting from an economic boom for so long that we seem to have forgotten the low plateaus of economic downturn and recession. But does economic downturn necessarily mean recession? The generally accepted definition of recession is a period of negative growth over three successive quarters in an economy. Often tied to gross […]
Businesses now find foreign direct investment accounts for as much revenue as direct exports, but what is foreign direct investment and what does it entail for an exporter? Offshore investment has an increasing role in generating Australian revenue, found the latest Global Readiness index, conducted by the Export Finance and Insurance Corporation (EFIC). In fact, […]
Attracting capital investors is no mean feat, but there are a few ways you can convince investors to finance your business growth. Whether you’re looking to grow a business or start up a business, chances are you’re going to need capital investment at some point. But let’s face it, getting your hands on extra capital has never […]
