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 […]
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: 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 […]
How to keep your small construction company on track
The Australian construction sector is currently navigating difficult times. With escalating costs, labour shortages, and an increasingly demanding economic environment, the number of construction businesses facing insolvency is on the rise. According to Inside Business, approximately 1,400 construction firms declared bankruptcy in the latter half of 2023 alone. Beyond financial constraints, sole traders and contractors […]
Forecasting: taking the guesswork out of your finance strategy
As a business owner, it is becoming increasingly difficult to navigate the changing economic environment and manage the financial uncertainties of running a business in 2024. Recent statistics from the Australian Securities and Investments Commission (ASIC) indicate that 11,053 companies entered administration in the 2023-24 financial year. The ability to anticipate future financial conditions would […]
How to add value and secure your future when selling your business
Selling and exiting your business is a milestone in your business journey. To maximise your return on investment (ROI), it is critical to have a well-thought-out exit strategy and to focus on enhancing the business’s value as you approach the sale. Strategic planning in advance of a sale is essential. It is commonly advised that […]
Key techniques for improving payment times
Late payments to Australian small businesses are on the rise, placing additional pressure on cash flow and making it more challenging to meet operational costs. Recent data from OptiPay indicates that the average number of days outstanding for invoices has reached 38 days, creating significant financial strain for many smaller enterprises. When customers delay payments, […]
Planning for seasonal dips in income
Seasonal declines in revenue can present considerable difficulties for small businesses. However, there are several proactive measures you can implement to predict, prepare for, and manage these fluctuations in income. The key to managing seasonal downturns is understanding when they are most likely to occur and having strategies in place to distribute your income more […]