Rise in the minimum wage: the impact for your business
On 3 June 2025, the Fair Work Commission’s Expert Panel handed down its decision following the 2024–25 Annual Wage Review. As a result, both the National Minimum Wage and modern award minimum wages will increase by 3.5%, effective 1 July 2025. View the official announcement. While the increase provides welcome relief for employees amidst persistent […]
Bringing your cashflow processes into the digital age
With economic uncertainty continuing, high inflation, rising energy costs and ongoing supply chain issues, many businesses are likely to face tighter cashflow over the coming year. To stay in control, it’s important to make use of the latest cloud accounting tools and financial apps. Why does cashflow matter so much? To keep your business running, […]
Business tips: Budgeting and managing cashflow
For businesses seeking to improve financial stability and drive growth, adhering to clearly defined budgets is crucial. Managing the ups and downs of project cash flow can be demanding—but becomes far more manageable when budgets are clearly set, regularly tracked, and actively managed. Use your accounting tools to: If you’re planning to expand operations or […]
Business credit score: how to build a good credit profile
When starting a business, access to finance is fundamental to your success. The ability to secure loans or attract investment largely depends on maintaining a strong business credit score and a healthy credit profile. Establishing a good credit history can be challenging for businesses that have only recently commenced trading. Let’s examine how you can […]
Keeping your business cash liquid – the difference between cashflow and profit
The primary objective of any business is to generate a profit. As a business owner, achieving sufficient sales at a healthy margin to yield a profit is a fundamental financial goal. However, it is essential to understand how profit differs from cashflow—and why effective cashflow management is critical to the ongoing viability of your business. […]
Reducing the uncertainty: performance monitoring and analysis
In today’s unpredictable economic climate, small businesses are facing increasing difficulty in planning for the future. Global financial developments can impact local markets overnight, creating considerable uncertainty and making it harder to maintain stability. Despite these challenges, business owners can take proactive steps to regain financial control. By closely monitoring key performance data and leveraging […]
Electricity prices are on the rise: how can you minimise your costs?
Small businesses located along Australia’s East Coast may experience an increase in electricity costs ranging from 4.2% to 8.2% in the near future, according to the Australian Energy Regulator’s (AER) draft determination for electricity pricing in the 2025–26 financial year. Electricity remains a significant overhead for most small businesses. As such, a notable increase in […]
Business credit: the importance of a good business credit score
Securing additional finance is often essential for business investment and growth. However, lenders rely heavily on your business credit score when assessing your suitability for credit. Maintaining a strong credit profile is therefore vital. Understanding Business Credit Scores: A business credit score is a numerical indicator of your company’s creditworthiness. It assesses the risk associated […]
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 […]
Recession-proof your retail business
The past few years have presented unprecedented challenges for businesses worldwide, and economic uncertainty continues to persist. Whether your business operates online, offers click-and-collect, or follows a more traditional retail model, there are practical steps you can take to strengthen your position and reduce the impact of future downturns. If you’re dealing with multiple pressures […]