Business Update – 01 May 2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Australia’s economy ‘turned out stronger’ than expected AMP Chief Economist Shane Oliver says Australia’s economy has “turned out stronger” than expected. Annual inflation dipped to 3.6 per cent in the year to March.  It is down from 4.1 per cent in the 12 months to December. Economists say the result…  Read more

Business Update – 24 April 2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Unemployment is better than expected, dampening hopes of an early rate cut Australia’s unemployment rate has risen slightly to 3.8 per cent after 6600 jobs were lost in March, a stronger-than-expected result that will likely end any chance of a mid-year interest rate cut. Macquarie Bank slapped with $10m fine after…  Read more

Business Update – 17 April 2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Australia’s economy: A mixed bag with signs of slowdown Amidst a backdrop of economic intricacies and evolving market dynamics, Australia’s fiscal landscape is both nuanced and volatile. As the Reserve Bank of Australia (RBA) maintains a cautious stance, retaining the cash rate in its recent deliberations, the nation’s economic…  Read more

Employee vs Contractor – What You Need to Know

Depending on the nature of your business, you may have workers who are employees or contractors, or you may have both. Each has its merits, but it’s important to review which are which to meet your tax obligations. When you have an employee, you must withhold income tax as well as report on additional benefits. Contractors generally look after their tax obligations. It’s against the law to treat an employee…  Read more

Business Update – 10 April 2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Startling images reveal the truth about who owns most major brands found in the big two supermarkets A compelling illustration by a graphic design enthusiast has revealed the sheer concentration of ownership of popular brands found in Australian supermarkets. Strolling through the aisles of a Woolworths or Coles, shoppers…  Read more

The importance of budgeting, forecasting, and setting goals for your business

If you’re like many business owners, you may find yourself struggling to understand what your finances mean or how you can use your financial information to make decisions for your business. Often we get into business because we love a product or service we want to provide. It’s not as common that we love managing the financial aspects of our business.  As a business owner, you have the best chances…  Read more

Unlocking the secrets to stellar customer service

Customer service is the heartbeat of any successful business. It’s the unsung hero, that transforms a potential disaster into an opportunity, and a mere transaction into a lifelong relationship. In the narrative of customer loyalty and retention, service is the protagonist. Your approach to customer service has the power to attract and retain customers. Why stellar customer service is key The importance of customer service for loyalty and retention cannot…  Read more

Business Update – 27 March 2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Australia’s job boom sees unemployment rate fall Australia’s unemployment rate has fallen to 3.7% in February, according to data released by the Australian Bureau of Statistics (ABS), with around 116,000 people starting jobs in February. Resilience of Australian Households and Businesses In its latest Financial Stability Report released today, the…  Read more

Business Update – 20 March 2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Cost of living relief coming, just not a big budget cash splash Australians can expect some fresh cost of living relief in May when the federal budget is unveiled, but Treasurer Jim Chalmers has ruled out a big cash splash. Business conditions improve in February February saw an uptick in business conditions as the…  Read more

Marketing your business: where to start and how to make it easier

Marketing can feel like a daunting task for small business owners. If you’re new to the game, or maybe you’ve been in business for a while and just haven’t quite cracked the code, navigating the world of marketing can be overwhelming. But it doesn’t have to be. Your business deserves to be seen, heard, and thriving – and with the right guidance, you can make marketing work for you. Let’s…  Read more

Business Update – 13 March 2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Australian economy grows ‘a little but not a lot’ Australia’s economy grew by 0.2 per cent in the December quarter, the smallest increase in more than a year but one that nonetheless pushed the nation to nine successive quarters of growth. Almost 1 million Australians are working at least two…  Read more

What The 2023 Australian Federal Budget Means For You and Your Business

The Australian Government has introduced its annual budget for the year, with the goal of stimulating economic growth, addressing long-term challenges, and enhancing social services. The budget is primarily focused on assisting with the cost of living by providing tax cuts to middle and low-income earners, while also allocating funds to areas such as health, education, small businesses, and various other sectors. If you have any inquiries regarding the impact…  Read more

Unlocking the Secrets of Small Business Cash Flow

Small business cash flow is the movement of money in and out of a company over a certain period of time. It is an essential aspect of a small business’s financial health, as cash flow issues can severely impact a company’s ability to operate and grow. Many small business owners struggle to manage cash flow effectively, which can lead to financial difficulties and even bankruptcy. Unlocking the secrets of small…  Read more

Avoiding BANKRUPTCY: Top Reasons it Happens and Ways to Prevent it

Small business bankruptcy occurs when a business is unable to pay its debts and is forced to declare bankruptcy. There are several reasons why this can happen. Bankruptcy can be devastating for small businesses, leading to closure, loss of jobs, and damage to personal credit scores. With good planning and strong business practices, you can avoid the pitfalls and drive your business to financial success. Learn the top reasons why…  Read more

5 Common Payroll Implementation Errors You Can Easily Avoid

Upgrading or changing your payroll system comes with a ton of wonderful benefits. Saving time and money, making everyone’s lives easier, and better integration are all good reasons to consider a change. But if the switch is mishandled, the results can be catastrophic and lead to long-lasting problems. Read on for some tips on how to avoid a disastrous payroll system migration. 1. Give the project the time it needs…  Read more

Business Owners: How Seasonal Employees Can Benefit Your Business

When it comes to hiring temporary staff, business owners can be divided into two categories. Some eagerly embrace the idea, recognizing that seasonal workers are necessary during specific business seasons. Others view it as a necessary inconvenience to cope with heavy workloads when the regular workforce is lean. Unfortunately, there is often a prevailing attitude that temporary employees are less skilled and knowledgeable compared to permanent employees. It’s time to…  Read more

Business Owners: When to Raise Your Prices

It’s an inevitability in every business – you have to raise your prices to continue making a profit. There are many factors that go into deciding how much to charge, all of which are dynamic. The rising cost of goods, inflation, and a changing market are just a few reasons why any small business has to reevaluate its rates regularly to stay competitive (and to stay in business). While it…  Read more

4 Signs You’ve Found the Right Financial Advisor for You

Most people need some help when it comes to financial planning and investing. That’s when we turn to financial advisors. With many options available, it’s important to ensure you choose a financial advisor that you can trust and feel comfortable with. So what are some signs that a financial advisor is a good fit for you? Here are some things to look for when deciding who is best for you…  Read more

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