More than half a million small businesses stand to benefit from tax cuts included in the 2017-18 NSW Budget, according to Treasurer Dominic Perrottet. In a statement, released yesterday, the Treasurer announced: “From 1 January 2018, the NSW Government will abolish insurance duty for small businesses on commercial vehicle insurance (including aircraft), professional indemnity insurance, […]
The Australian Small Business and Family Enterprise Ombudsman has encouraged small business operators to take advantage of the Government’s instant asset write-off extension. More businesses are now eligible to buy equipment (new or second hand) up to $20,000 and write it off immediately after legislation passed the Senate. Multiple claims can be made under the […]
If “location, location, location” is everything in real estate, then “preparation, preparation, preparation” is equally important when selling a small business. There are many reasons why a small business owner might decide to sell, but preparation is the one common ingredient that can make the difference between a sale and a fail. The single most […]
Businesses with an annual turnover of up to $10 million will benefit from the $20,000 instant asset tax write-off scheme for a further 12 months, the Government announced in the Federal Budget. The extension has generally been welcomed, although there have been calls to make the measure permanent and increase the write-off threshold to benefit more businesses. […]
By extending payment times to small businesses in the supply chain, large Australian and multinational organisations are effectively using them as ‘a cheap form of finance’, according to a new report by the Small Business and Family Enterprise Ombudsman (ASBFEO). The report, which responds to the Ombudsman’s inquiry into payment times and practices, highlighted the […]
Competition reforms tabled in Federal Parliament this week backs small businesses to grow, innovate and create more jobs, according to Small Business Minister Michael McCormack. He said the Competition and Consumer Amendment (Competition Policy Review) Bill 2017 implements a number of recommendations from a landmark review of Australian competition policy to help small businesses to compete […]
Coinciding with the anticipated release of the Small Business Ombudsman’s report on its inquiry into payment times and practices, American Express has released research showing mid-sized Australian businesses owe $8 billion in outstanding payments to suppliers, with more than $2 billion currently overdue. According to Martin Seward, VP, Small & Medium Enterprises at American Express Australia, […]
The numbers are in and the news isn’t great for Australian small business owners. Research undertaken for the latest Scottish Pacific SME Growth Index * shows more than half of SMBs cite cash flow as a major barrier to growth (56%). Less than one in ten are content with their cash flow and around three-quarters of growing […]
The South Australian sole trader behind sustainable mini-garden start-up Fleurieu Gifts was crowned the winner of the inaugural PACK & SEND Small Business Logistics Grant on Thursday night following an all-female final. Charlene Maney, who quit the corporate world in 2014 to found Fleurieu Gifts, prevailed over seven other female entrepreneurs to win the prize. She […]
A small business is more than a bottom line for an owner; it is often their heart, soul and passion. By taking the plunge and setting up and running a small business, all your time and energy becomes focused on making your life’s dream a success. However, with all of your energy invested in your […]
