If you run your own small business, you will have come across several different ways to evaluate your profitability. One strategy to increase your business profit margin is to use gross profit and gross profit margin. While they’re not likely to be the only figures you are using to health check your business, they are […]
8 strategies to increase your business’ profit margin Read More »
It is tax planning time! In most instances, tax planning happens in the final quarter of the financial year between April and June. 30 June is fast approaching, so now is a great time to plan and forecast for the end of and new financial years to ensure you’re in the best possible tax position.
6 tax planning strategies to minimise your tax Read More »
An employment contract is an agreement between an employer and employee that sets out the terms and conditions of employment. It is not necessary to specifically agree on a contract for one to exist. The fact that an employee starts work for an employer brings with it certain fundamental implied terms, such as the right
The importance of employment contracts, workplace policies and procedures Read More »
The answer to the question of how profitable your business should be is: it depends.
How profitable should your business be and how to get there Read More »
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.
Why you should invest in a marketing strategy and how to decide on a budget Read More »
If your business has employees, then paying superannuation on time is undoubtedly a topic you know much about. The government’s superannuation guarantee requires employers to pay a superannuation contribution equal to 10% (2021/2022) of an employee’s ordinary time earnings if an employee is paid $450 or more before tax in a month. If you use
The importance of paying superannuation on time Read More »
When introducing new technology to your accounting process, you want the best software and apps to streamline your bookkeeping.
The best software and apps to streamline your bookkeeping Read More »
From 1 November 2021, there will be a key change to employer obligations for employee superannuation when setting up a new employee’s super fund. If a new employee doesn’t specify a super fund, there will be an extra step to ensure they comply with government requirements. What is the change? If a new employee does not specify
Super stapling: Key change to employer obligations for employee superannuation Read More »
There’s no doubt that starting a new business has risks. While it may be tempting to remain positive and ignore them, you need to know how to reduce the financial risks when launching a new business. Risk management is the process of identifying and assessing risks and developing strategies to mitigate them. A risk management
Reducing the financial risk of launching a new business Read More »