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
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
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
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
You can be great in your job but the hard truth is that without customers there won’t be any work. Many tradie businesses experience hard times or fail before they even start not because there is a lack of clients looking for the service, but simply because clients do not even know the business exists. In this blog, we look at simple marketing strategies to get more tradie jobs. 1.… Read more
Whether your small business is business-to-business (B2B) or business-to-consumer (B2C), you likely deal with some level of customer churn, especially given the COVID-19 pandemic. Even customers who love your business and your products may have lapsed for a variety of reasons. Whatever their reasons for leaving, it’s still a great idea to try to win them back. Why? Mainly because winning back a lost customer still has a higher success… Read more
The unfortunate reality is most business owners don’t take proper holidays. Usually, this is because their business relies on them and they don’t have the support to keep the business running without them. As a business owner, have you ever considered what would happen to the business if you had to take a six months break because of a serious illness or injury? Would the business survive? How would the… Read more
When embarking on your own business venture, it is crucial to have sufficient capital to cover expenses until your company becomes profitable. The amount of funds required will vary depending on the nature and size of your business, potentially amounting to thousands of dollars per month to cover overhead costs. If you are seeking sources of funding for your business start-up, there are several options available to you. Each option… Read more