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Financial Habits of Healthy Businesses

  • On October 31, 2019
Most young businesses are ambitious and focused on their goal of creating brand awareness and product launches. Often, what they end up neglecting are the business finances, especially if the founders are not business graduates or financial specialists. Startups and new businesses are most prone to run into bankruptcy in their first year. A major […]

Making data meaningful for your business

  • On October 20, 2019
Three steps to ensuring data is meaningful for your business Raw data describes the facts and figures that business processes every day. Over time, every business hoards a certain amount of data and it only becomes meaningful to a business after it has been processed to add context, relevance and purpose. For example, in a […]

What’s in the Forecast

  • On October 7, 2019
When we set out on a fishing trip or hike, we always check the weather forecast. It’s no different in business. The forecast tells us if there’s bad weather (poor cashflow) in store based on the direction we’re heading. Your forecast will tell you: Whether you have enough sales in the pipeline to give you […]

Dividends and paying yourself as a director

  • On September 20, 2019
As the director of a limited company, dividend payments are the usual way for you to take money out of the company – and see a financial return on your investment into the company. Dividends are payments made to the company’s shareholders when the business has made a profit. What’s not re-invested into the company […]

Automation can ease your business workload

  • On September 15, 2019
Small and medium-sized businesses are spending on average 120 hours a year on admin tasks, according to recent research into productivity at UK SMBs. If your people are spending 120 hours wading through tedious and unproductive admin, that’s bad for the business and for your overall efficiency. Fortunately, technology and software automation can go a […]

Tax Deductions for Tradies

  • On September 15, 2019
No one likes paying taxes, but with a little proactiveness, one can end up easing the tax burden. Tradies busy in meeting vigorous work targets and tough deadlines hardly get a chance to learn about any tax deductions they may be entitled to. But in order to avoid an excruciating tax bill, they must take […]

Cash vs Accrual Accounting – It’s All About Timing

  • On September 2, 2019
What are the two methods? Understanding cash and accrual accounting comes down to timing. In a cash-based accounting system you recognise income and expenses when they happen, that is, when the money arrives into or leaves your bank. In an accrual-based accounting system, income is recognised at the date the customer is invoiced and expenses […]

Tips for Buying an Investment Property in Australia  

  • On August 20, 2019
Without a doubt, purchasing an investment property continues to be one of the most popular ways for individuals to invest in Australia. And this is evident from the country’s tax data where 10 per cent of the taxpayers are landlords who have been continuing to invest in properties.    One cannot undermine the significance of investing […]

Are you playing in the Business growth game?

  • On August 15, 2019
What’s your business growth looking like and where were you 12 months ago compared to today? If you haven’t given it much thought it is probably because you’re always stuck in the day-to-day operations. But it is worth spending some dedicated time to do some reflecting and planning. Growth doesn’t need to mean more risk, […]

The importance of tax planning for directors

  • On August 8, 2019
Paying tax is something you’re likely to see as a necessary (but not hugely enjoyable) part of running your business. But are you doing enough to plan your own personal tax liabilities? As a director, you’ll pay your income tax annually on a self-assessment basis. But there are plenty of ways to make this a […]