Small business owners with a business tax debt are encouraged to work with the Australian Taxation Office (ATO) to help manage it through a mutually acceptable plan. Dealing with financial stress while running a business can be difficult, and a tax debt notification from the ATO can be something you’d prefer to ignore. While it is often tempting to...
The impact of an unexpected event, such as a fire, flood or major building damage, can have a devastating effect on a small business. When these situations occur, it can often be difficult to know what to do first. If your business has been disrupted by an unexpected event, here are some steps to follow to help you assess the situation, minimise...
Having a healthy cash flow is crucial for the success of your small business – but it can be a challenge when clients and customers don’t pay you on time or implement long payment periods. When you’re running a small business, getting paid late – or needing to wait for your payment over a longer payment period – can be a major challenge. Payment...
Invoicing - something every business owner needs to know how to do, but are you getting it right? As a business owner, you’re required to provide proof of purchase within seven days and a tax invoice within 28 days of it being requested or having supplied goods and/or services.. Getting your invoicing right will not only save time, but will also...
Have you found yourself in a situation where you’ve finished a job only to discover you’ve only just broken even or perhaps actually lost money due to underquoting? First of all, don’t beat yourself up. Most small business owners discover at some point, particularly when starting out, that they have underquoted. Here are some tips to help you avoid...
Using the Personal Property Securities Register (PPSR) can protect you when you’re buying, selling, leasing or hiring business assets.
Being aware of the early warning signs that your business may be in trouble will provide you with the best opportunity to take action and turn things around.
If your business is involved in some kind of a dispute, you’re not alone – and help is available. Here are some of the most common disputes in small business, followed by what you can do about them. Contractual disputes A common example of a contractual dispute is when you may have paid upfront for services that you haven’t yet received, such as a...
While some businesses have their peak season over the Christmas and New Year period, other businesses experience a lull or schedule a shutdown. If December and January are usually quiet for your business, you can plan ahead to make the most of your downtime. At the end of a busy year, it’s important to take some time to relax and recharge when...
'See you in court' might be an easy way to resolve disputes in your favourite legal series – but the reality of legal proceedings is much more complicated, expensive and potentially stressful for small business owners. Whether you’re handling a dispute with another business, your landlord, or an individual or organisation, it’s always worth...
As you dive into the new year in small business, it’s important to take stock of your achievements during the past 12 months and to set your business goals for 2025. We have put together a few tips to help ensure smooth sailing in the year ahead. Get on top of your finances Take some time to put your finances in order by reviewing your financial...
On a national and local front, there are strong signs of economic and business recovery as we head towards the end of a challenging year. Two publications released over the past month report very positive signs of recovery for our small business sector in WA. On a national level, the Small Business Counts report was released by the Australian Small...
