How profitable should your business be and how to get there
The answer to the question of how profitable your business should be is: it depends.
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Generational succession: Do your kids really want to take over your business?
Generational succession – handing your business across to your kids or family – sounds simple enough. But, many families end up in dispute right at the point when the parents, business, and children are most vulnerable. It’s important that generational succession is managed as closely and diligently as if you were selling your business to a stranger to avoid misunderstandings and disputes – you need to make sure that everyone understands what the transition will mean and everyone is aware of their role and responsibilities.
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Four common mistakes SMEs make with their data and how they can be avoided
Australian businesses are behind their international counterparts in employing data analytics, but this isn’t because they don’t want to. The unspoken problem is the lack of information provided informing businesses about how they can use their data correctly. Sadly, it isn’t as simple as analysing customer numbers, sales or demographics data. While this information is
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Why you should invest in a marketing strategy and how to decide on a budget
Investing in a clever marketing strategy and giving careful consideration to how much you want to spend will reduce stress and provide greater returns for you and your business.
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Ways to transform your business
Transformation of your business is more than just developing a strategy for growth or improvement; it’s about completely rethinking how you conduct business. The need to transform your business can be driven by changes in the industry, technological improvements, changes in regulations or responding to competitive pressures. Any innovation or transformation involves a marked shift
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What Everyone Selling a Property Valued at $750K or More Needs to Know
Every vendor selling a property needs to prove that they are a resident of Australia for tax purposes unless they are happy for the purchaser to withhold a 12.5% withholding tax. From 1 July 2017, every individual selling a property with a sale value of $750,000 or more is affected.
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Top tips for best practice payroll compliance
Payroll is a workplace function that usually occurs in the background and simply just “happens.” Any business who adopts these top tips for best practice payroll compliance, should find that payroll is invisible to the rest of the business. It does however remain one of the most preventable areas of risk for many businesses. With
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The best software and apps to streamline your bookkeeping
When introducing new technology to your accounting process, you want the best software and apps to streamline your bookkeeping.
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Stepped vs level life insurance premiums
Often there is a preconception that life insurance gets more expensive as you age. In some cases, this is true because as you get older, you’re more prone to injury or illness and can be riskier to insure. There is a choice with your premiums: you may choose a stepped or level life insurance premium.
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