Five steps to better cash flow
Need assistance managing cash flow? You’re not alone. The key to improving cash flow is ensuring your invoicing is accurate and timely. Invoice your customers as soon as possible, and utilise tools such as Xero’s invoice reminders to help expedite payments. Here are some additional simple strategies you can implement to better manage cash flow […]
Tax measures proposed by the re-elected ALP
Following its majority win in the 2025 Federal Election, the Australian Labor Party (ALP) has been returned to government. During the election campaign, the ALP outlined a range of tax and economic measures, some of which have already been legislated or announced as part of the 2025 Federal Budget. Below is a summary of the […]
Making your business work for you: making enough to retire
As a business owner, you may take great satisfaction in running your enterprise. However, it is important to acknowledge that, eventually, you will look to sell the business and transition into retirement. In today’s uncertain economic environment, ensuring that your business can be sold for a strong value is critical to securing your financial future. […]
Understanding Your Profit and Loss Statement
The Profit and Loss Statement (P&L), also known as the Income Statement, is a fundamental financial report that outlines a business’s income and expenditure over a defined period. Unlike the Balance Sheet, which provides a snapshot of a business’s financial position at a single point in time, the P&L offers a dynamic view of financial […]
Trump’s tariffs: what they mean if you export to the USA
For Australian small businesses exporting to the United States, the recently imposed US tariffs represent a significant and immediate shift in trading conditions. These are not merely political manoeuvres—they are tangible cost increases that may directly affect your bottom line. Understanding the Tariff Introduction As part of his renewed ‘America First’ policy, President Trump has […]
The Fundamentals of a Business Budget
A well-structured business budget is a critical tool for effectively managing your financial position and driving sustainable business growth. A budget provides a forward-looking view of your expected cash inflows and outflows over the next financial year, allowing for strategic planning and informed decision-making. To gain a comprehensive understanding of your business’s financial health, it […]
Reducing the uncertainty: financial forecasting and planning
Uncertainty can significantly impact financial planning, making it challenging to make informed decisions regarding operational budgets, investment strategies, and growth funding. By leveraging financial forecasting and scenario planning, businesses can enhance their financial management, anticipate challenges, and mitigate potential risks. Financial reports—such as cash flow statements, profit and loss reports, and management accounts—provide valuable insights […]
Coping with the skyrocketing cost of living
With the rising cost of living impacting Australian households, from fuel prices to supermarket bills, it’s essential to find ways to manage these pressures. Across the OECD, the prices of essential goods and services have continued to increase. To better cope with these rising costs, here are 12 practical steps you can take: Increase Your […]
Get in control of cashflow
It is often stated that cashflow is the lifeblood of a business, and this holds true in practice. Maintaining a positive cashflow position—where cash inflows exceed cash outflows—ensures the liquidity necessary for day-to-day operations, business improvements, and sustainable growth. Conversely, when expenses exceed income, cash reserves can become insufficient. This may lead to increasing debt […]
Understanding Your Balance Sheet
To assess the financial position of a business at a specific point in time, refer to the balance sheet, also known as the statement of financial position. Together with the profit and loss statement, and potentially other reports such as the statement of cash flows, these financial statements provide a comprehensive overview of both the […]