Our guide to business credit scores
Do you know what your business credit score is, and how it can impact your finances? Your business credit score is a numerical representation of the company’s creditworthiness. In other words, how financially reliable the big credit agencies believe your company to be. In essence your credit score is a measure of your risk to […]
What to look out for when buying a business
Buying an established business is a great way to enter the business world, or to expand your existing business empire. But purchasing a company isn’t something to enter into lightly. Becoming the prospective owner of a new business means doing your homework, researching the business you plan to acquire and working closely with a team […]
Small Business Skills and Training Boost 2023
The Small Business Skills and Training Boost was announced on 29 March 2022 and became law on 23 June 2023. This initiative provides small businesses with a bonus tax deduction to help them train new staff and upskill existing staff. What do you get? Additional Tax deductions. Who is this for? Small businesses, check if […]
Small Business Technology Boost 2023
The Small Business Technology Investment Boost was announced on 29 March 2022 and became law on 23 June 2023. This initiative allows eligible small businesses to claim a 20% bonus deduction on technology expenditure to help digitise their business. What do you get? Additional Tax deductions. Who is this for? Small businesses, check the ATO […]
Understanding Your Profit and Loss Statement
Your profit and loss statement (P&L) helps you understand your business performance and profitability over time. It’s sometimes called an Income statement and its main purpose is to list income and expenditure. Whereas a balance sheet is a snapshot in time, the P&L shows transactions over a specific period of time. This can be a […]
Do you need to improve the cash flow position for your business?
Keeping on top of the financial management of your business can be hard work. It’s possible to have a profitable business that is struggling to find the cash flow to pay expenses and fund growth. Likewise, you could have positive cash flow but are not turning a profit, particularly if you are scaling. Turning a […]
2023 Federal Budget Highlights
The Federal Treasurer Jim Chalmers handed down the 2023 Federal Budget on 9 May 2023. The following is a list of highlights from a tax and superannuation perspective. Businesses Individuals Multinationals Superannuation Tax administration GST and indirect taxes If you would like to know more information about any of these measures, please do not hesitate […]
Using data analytics to give your business a competitive advantage
Data analytics is rapidly changing the way businesses are operated. By making use of your financial and non- financial data, you can quickly start to gain a deeper insight into your operations, performance and financial management. Data-driven decisions are quickly becoming the norm, for even the smallest business. Data analytics helps you spot the patterns, […]
Stepping back: Do you have an exit strategy for your business?
Owning a business can be brilliant, but you might not want to do it forever. Whether you’re ready to retire, want to cash up, or you just need a break, at some point you will probably want to move on from your business. Even before that time comes, you’ll need a plan for stepping back. […]
Getting your bookkeeping ready for a digital future
Keeping up-to-date records of your business transactions isn’t the most glamorous part of being an entrepreneur, that’s for sure. But having accurate and up-to-date bookkeeping is actually one of the core ways to keep your finances (and your business) under control. Digital bookkeeping is the future of your finance. The digital age has revolutionised the […]
