Mastering expense management in your business
The effective management of business expenses is vital for sustaining growth and maintaining profitability. Whether you are a start-up or an established enterprise, controlling your finances is often the determining factor between success and failure. Below are eight strategic measures to enhance expense management and ensure the smooth operation of your business. Effective expense management […]
Is your bank truly supporting your business?
In the past, your bank manager was a pivotal figure in the success of your business. However, in today’s digital era—where banking is increasingly focused on online transactions rather than personal relationships—is your bank genuinely supporting the sustained growth of your business? The latest Australia Business Banking Customer Report from Publicis Sapient offers key insights […]
How to optimise your business: six areas to focus on
We are undoubtedly navigating uncertain economic conditions. Yet, it remains imperative to refine your business model, enhance value, and explore opportunities for growth. Instead of allowing your business to merely sustain its current operations, why not take a proactive approach to improving and strengthening your business model? This will not only enhance profitability but also […]
Selling your business: getting a good deal
After dedicating years to growing and enhancing the value of your business, the time may come to sell and realise the equity you have invested. Securing the best possible deal requires strategic planning, meticulous preparation, and expert guidance. In this article, we outline essential steps to maximise the value of your business. Selling a business […]
Accepting cash may become mandatory for Australian businesses
Australia is rapidly moving towards becoming a cashless society, though certain groups—particularly the elderly and those with lower incomes—continue to rely on cash for their transactions. To address this, the Federal Government is considering new legislation that would make it mandatory for businesses to accept cash for essential goods, including groceries and fuel. This initiative […]
Cutting costs or increasing your prices?
As many businesses anticipate reduced profits this financial year, proactive planning for uncertainties is essential. Effective expense management is always beneficial, and in some cases, revisiting your pricing strategy may help enhance profit margins. Practical Steps to Optimise Cost Control Cash flow has posed significant challenges for many businesses recently. When revenue streams are constrained, […]
Selling your business: planning your exit
Building a successful business often requires years of dedication, and for many, it is a lifetime’s work. When the time comes to sell, ensuring you receive the best possible return on your investment (ROI) is crucial. Realising the full value of your business is not an overnight process. Most owners begin planning their business sale […]
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 […]