#Revenue
Let’s Talk: How do I forecast cash flow more accurately when revenue is lumpy?
Irregular income is a common cash flow issue for Australian SMEs, but it’s rarely discussed. This week’s Let’s Talk asks experts how to forecast better when revenue doesn’t come in consistently.
6 out of 10 Australian SMEs report losses up to 75 per cent
Business Australia reported that 6 out of 10 Australian SMEs reported sales losses up to 75 per cent this year. Only 18 per cent reported consistent revenue and a mere 9 per cent experienced a growth in sales during the pandemic. Richard Spencer, Chief Customer Experience Officer at Business Australia, offers a list of suggestions […]
Afterpay doubles revenue and partners with Worldpay to go global
Despite the global economic slow-down, the shift to online spending and move from traditional forms of credit have boosted Afterpay’s position domestically and internationally. Afterpay announced today that it had doubled its revenue to $519.2 million. This is a 97 per cent increase from the 2019 financial year. Net losses are also down to $22.9 […]
6 tips for building millions in revenue
Former HR Manager, James Trenerry turned a $40,000 debt into a successful KX Pilates franchise enterprise, generating a revenue stream of $2.5 million. Here are his tips for business success. Define your vision A clear vision and strategy is essential to reach your goal This sets the tone for your business direction, objectives, and […]
Businesses are using parking to ramp up revenue
The new Parkable app is making use of empty business spaces A new shared economy platform is connecting businesses who have vacant parking spaces with people looking for parking… and businesses are making the most of it. Businesses are able to list their vacant parking spaces on a very flexible basis using the new innovative app […]
Six ways to keep Costs Down and Revenue Up
With less than three months to financial year end, here’s some big questions to help you prepare before and after 1 July. If you are wondering, like me, where this calendar year has gone, it may be little surprise to you that we are less than three months away from the end of the financial […]
Why do only 2 per cent of female business owners earn over $1 million in revenue?
Did you know that only two per cent of female business owners exceed $1 million in revenue? As a business owner myself, when I found this out recently, I found it absolutely staggering. What that means is that most female entrepreneurs toil away without the big gains. Never really progressing past side hustles, start-ups or […]
Has your business planning outgrown Excel?
Microsoft Excel enjoys global superiority as the go to electronic spreadsheet for financial management and data collation. This status is well deserved as the business application has given in excess of 30 years of admirable and loyal service in helping companies track, forecast, analyse, and manipulate a wide range of business data. Despite its excellent […]
Selling a business is simple, right? Avoid these seven common mistakes to take the edge off
Many business owners spend years building their business to only receive a fraction of what it is worth when it comes time to sell. Although there are many more, here are seven of the most common mistakes that could impact you significantly. Inadequate preparation Sellers who get the best deals are those who have left […]
MYOB to buy a slice of Reckon for $180m
Cloud accounting provider Reckon is selling a 120-person division to rival MYOB for $180 million as it looks to – in the words of Group CEO Clive Rabie – “narrow [its] focus on the small business accounting software market”. Subject to regulatory approval by the ACCC and the NZCC, MYOB will acquire the assets of […]
Finding hidden revenue in your business
Customer sentiment holds the key to unlocking hidden revenue in your business. As a retailer, eCommerce platform or marketplace, you’re likely to value customer sentiment — however being able to turn that sentiment into a successful business strategy to improve your business from a revenue or operations perspective is way more challenging. Customer’s experience, product […]
Two in three Victorian startups are exporters
A new report into Victoria’s startup landscape reveals that a majority of ventures are revenue positive within the first two years but are not giving thought to an exit strategy. Commissioned by LaunchVic in collaboration with Startup Victoria and dandolopartners the report – titled Mapping Victoria’s Ecosystem – defines a startup as any business with […]
Financial literacy, not gut feelings, key to female founders scaling past the $1m mark
Women have ‘boundless potential’ to lead multi-million dollar businesses but many are being held back by a lack of financial literacy, says Tanya Titman, the founder of Acceler8 Academy, a growth program for female-led SMEs, and Consolid8, Xero’s 2016 Accounting Partner of the Year. Having assisted over 200 female founders to scale their businesses through […]
Why an Annual Business Review is Essential
When was the last time you reviewed your business? Every owner should conduct an extensive review at least once a year to stay on track. It doesn’t matter if you’re running a small firm or a large corporation – every business benefits from a solid plan of attack. Annual reviews allow you to evaluate what […]
A permanent $20,000 instant asset tax write-off for businesses tops SME wishlist, MYOB finds
Seven in ten small businesses want the $20,000 instant asset tax write-off to continue past 30 June, this year, when it is due to expire, according to accounting software provider MYOB. The latest MYOB Business monitor, a bi-annual survey of more than 1,000 small businesses, asked operators what policies they would and wouldn’t vote. MYOB […]
AI adoption fuelling revenue growth: report
A new study offers a business case for adopting artificial intelligence (AI), finding that organisations that are further along in their AI maturity were more likely to have enjoyed faster revenue growth over the past three years. Commissioned by Infosys, the research report, Key findings from Amplifying Human Potential: Towards Purposeful, Artificial Intelligence, polled 1,600 […]
SMEs not buying recession talk: MYOB survey
Talk of a looming recession is being shrugged off by SME operators, according to the latest Business Monitor from accounting software provider MYOB. The bi-annual survey of more than 1000 SME operators found that 26% expect the economy to improve over the next year, while a further 33% expect it to remain the same. The […]
Escaping the paper vortex and embracing digital tech is a sign of business maturity
The digital revolution has impacted almost every facet of our lives, from how we socialise, exercise, bank, and work. Although business is now conducted largely through smartphones, tablets and laptops, many workplaces are still cluttered by mountains of paper. Given the indisputable benefits of embracing digital technology, businesses are fast running out of excuses for their stubborn […]
Reinvigorate and boost sales with ‘smarketing’
It’s a tough time for retail sales, with Australian Bureau of Statistics (ABS) data showing this key driver of economic growth is stalling. Traditional sales tactics are becoming less effective due to the wealth of information freely available to people today and, thus, the rise of the savvy consumer. Trends globally echo this sentiment, with 57% of retailers agreeing buyers are less […]
SMEs pessimistic about economy but start-ups forecast revenue growth: MYOB survey
Despite federal election promises of greater support for SMEs, businesses owners remain pessimistic about the Australian economy, with two in five expecting it to worsen in the coming year, the latest MYOB Business Monitor revealed. The bi-annual national survey of over 1,000 SME operators found that 42% believe the economy will decline over the […]
Unlocking your business growth with sticky revenue
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 […]
Six tips to help start a business on a budget
Successful entrepreneurs have lots of things in spades – great ideas, the passion to bring them to life and the guts to turn them into a business. But budgets are tight in the startup world and an entrepreneur also needs to be great at managing them. Couple this skill with the right mix of work […]
Cash flow is a whole of business system, not just an invoice and collect system
Remember, you may be invoicing business to business, but there are real people at the other end of the process and their emotions can and will affect how quickly you get paid.
Simple steps you must implement to improve your cash flow
Cash flow is the lifeblood of any small business – when it’s pumping your business is healthy, but when it dries up the results can be disastrous.