Does your Aussie small business have a succession plan?
Research from MYOB reveals that almost half of Baby Boomer SME owners intend to exit their businesses within the next one to five years, yet a significant number have not established a formal succession plan. Without a clearly documented strategy, the transition from a seasoned owner to a new and less experienced operator can be […]
Cash is not profit and vice versa
A business exists to generate profit – but profit and cash flow are not the same thing, and both must be understood to manage a business effectively. Net profit is calculated by subtracting all operating expenses from total revenue. To improve profit, focus on the areas that drive revenue or reduce costs. For example: Cash […]
Could your business survive without you?
Would your business continue to operate effectively if you suddenly needed to step away? Many business owners find it difficult to remove themselves from day-to-day operations, particularly when they are passionate about what they do. However, accidents, illness or family emergencies can occur without warning, and it is essential to have robust systems in place […]
Suspension of business postal deliveries to the US: what options do you have?
Australian exporters selling directly to US consumers should be aware of a recent change to US import regulations. Until recently, goods valued under USD $800 qualified for the de minimis exemption and were not subject to tariffs or import duties. This exemption has now been removed by executive order, effective 29 August. As a result, […]
Have you got a plan for growth in your business?
Growth does not necessarily equate to increased risk, longer hours, or additional complexity. More often, it begins with clearly identifying the opportunities available within your business and industry. Once these are defined, you and your team can determine the actions required to maximise these opportunities and manage the likely challenges. Some practical steps to consider […]
Liberating you and your business with AI: sales and marketing
Sales and marketing are critical to business success, but they are also resource-intensive. For many small and medium-sized enterprises, managing these functions manually can divert valuable time away from core operations. Artificial intelligence (AI) now offers practical solutions to streamline these activities, reduce costs and improve outcomes. Outlined below are five areas where AI applications […]
Should you buy or lease your business assets?
Certain items of equipment, machinery and vehicles are essential to the smooth running of your business – whether it’s a delivery van for a food service, or a digital printer for a print shop. When a critical asset is required, the key question becomes: should you purchase the item outright, or lease it and spread […]
The right to work from home: the potential impact for your employees and business
Working from home (WFH) has become a common feature of modern employment, providing savings in both travel time and personal expenses. While previously a matter of employer discretion, the Allan Government has announced plans to legislate a right for employees to work from home for two days per week. Key elements of the proposal: If […]
Interest rates come down: how could this affect your business finances?
The Reserve Bank of Australia (RBA) has reduced the official cash rate to 3.6%, down from 4.1%. This is the first time since April 2023 that the cash rate has been at this level. The reduction in interest rates has both potential benefits and risks for small businesses, so it’s important to understand the implications. […]
Can you build a viable one-person business?
The concept of a viable, fully functioning one-person business is no longer far-fetched. Sam Altman, co-founder of OpenAI, recently suggested that a single individual could realistically operate a billion-dollar enterprise by 2026–2028, leveraging GPT-5 and other generative AI tools to create and manage automated agents. What once seemed inconceivable—one individual generating such scale of capital […]