Could the surcharge ban on card transactions help your business?
For many business owners, the surcharges on customer debit card transactions represent an operational expense they would gladly eliminate. The Australian Government has signalled its intent to address this issue, announcing plans in October 2024 to ban debit card surcharges from 1 January 2026. This proposal is subject to consultation led by the Reserve Bank […]
Selling your business: adding value prior to sale
Achieving an optimal sale price for your business is a key objective when planning your exit strategy. A fundamental aspect of this process is the systematic enhancement of the business’s value to attract potential buyers and secure a favourable outcome. The dedication and effort invested in building your enterprise should be reflected in the sale […]
Christmas Parties and Fringe Benefits Tax
As the festive season approaches, many businesses look forward to celebrating with employees, clients, and loved ones. However, it is important to understand the potential tax consequences of such events. To help you navigate this, we have outlined the tax treatment for Christmas parties and gifts below. Christmas Parties Held on Business Premises Held Away […]
Data-driven decision-making: operations and inventory
Did you know that utilising data can greatly enhance the smooth operation of your business?As a significant portion of your operational processes is now managed through software, there is a substantial opportunity to analyse this data to uncover valuable insights and patterns. Every business strives for increased efficiency, productivity, and cost-effectiveness, and this is where […]
Business plant and equipment: Buy or lease?
When your business requires new plant or equipment, determining whether to purchase or lease can be a complex decision. The best choice will vary depending on individual circumstances; however, there are fundamental considerations to guide you through the decision-making process. Benefits of Purchasing Benefits of Leasing Conducting a Financial Analysis for an Informed Decision Choosing […]
Data-driven decision-making: growth and strategy
Utilising robust data insights enables your business to lay a solid foundation necessary for growth. Without growth, a business risks falling short of its full potential. Yet, establishing the pathways for growth can be challenging when crucial information isn’t readily accessible. Fortunately, the data you need may already reside within your software systems, awaiting consolidation […]
Do you have direct debits and online payments set up for your business?
Do you have direct debits and online payment methods set up for your business? Ensuring that your customers can easily pay you is essential for business success. With the simplicity of linking direct debits and alternative payment methods to your business today, there is no reason not to offer multiple payment options to your customers. […]
Data-driven decision-making: cashflow and financial health
In this article, we examine how the proactive utilisation of data can enhance the cashflow of your small business and contribute to the overall financial health of your company. Are you aware of the significant impact that data analysis can have on your cashflow? It is widely acknowledged that ‘cash is king’, yet managing the […]
Cash flow and cost control
In the prevailing economic climate, maintaining effective cash flow has become paramount for the sustainability of businesses, whether in a recovery phase or experiencing growth. Attention must be directed towards revenue, profit, and overall financial performance; however, the ability to maintain smooth operations constitutes the essential foundation of your financial strategy. Regular cash flow forecasts […]
Dealing with uncertainty – tips for business owners
Although inflation has shown signs of easing, considerable uncertainty continues to challenge business owners. The economic environment has remained difficult for several years, and determining the next course of action is a prevailing concern. It is well understood that your investment in your business goes beyond time and financial resources—it is part of who you […]