When deciding to structure your business as a Pty Ltd Company, it’s important to understand exactly what protections operating under a company structure does and doesn’t offer. An incorporated company, often recognised by the addition of Pty Ltd after the company name, is one of the structures you may consider for your new business. A company is a...
If you’re working full time but are considering starting a business, here are four top tips to help you make the transition. Step one: Do your research Before you take a leap of faith, learn as much as you can about your selected industry. (It’s surprising how often we meet clients who are planning to start businesses in industries in which they...
Buying a franchise can be a great pathway to running your own business. Before signing on, make sure you’ve sought advice and considered these seven key areas.
Should you borrow money from your family? Questions to ask yourself before getting loved ones involved.
How can you impact your profit as a small business owner? For most small businesses, making a profit is one of the most important goals. Profitability relies on a simple accounting equation: Income – Expenditure = Net Profit In other words, net profit is your business's profit after all business expenses have been deducted from your revenue...
Problems and delays getting invoices paid can be an issue for all types of business – and contractors and subcontractors in the construction industry can be hit particularly hard. Many subcontractors and suppliers have to spend considerable amounts of money to pay for the materials and labour they need to complete a project. Issues and delays...
If you have a great idea for a new product, you’re at the start of an exciting but complex business journey. From developing your idea to testing demand in the market and finding the right manufacturer, here’s your guide to the steps involved in turning your idea into a new product available for sale. Step 1: Develop your idea Developing any new...
We’ve all heard the saying that ‘cash is king’, but despite the popularity of this phrase cash flow is an area of business that is often neglected. Being able to effectively manage your cash flow is key to the long term survival of your business. It will also allow you to maintain enough working capital to operate through quiet periods. Your cash...
If your business sends SMS reminders, don’t miss the window to register your SMS Sender ID to help avoid your messages being blocked in 2026. If you run a service based business, you might rely on SMS appointment reminders to help your schedule run smoothly. The Australian Communications and Media Authority (ACMA) is introducing sender ID...
In 2015, Claudia Franke started her IT consulting business in her spare time while still working in an office-based role. After two years of building her business, she resigned from her IT day job to focus on providing IT consulting, support and training services for small businesses. The move to create her own business, Fraulein Tech, allowed...
A business plan is a valuable document for business owners as it helps you clarify your thinking, set a tone and direction for your business and gain a deeper understanding of your market.
Small business lottery agents have had a win that will help their long term sustainability. The Western Australian Government has announced a suite of initiatives to help newsagents and lottery retailers, including an increase in the commissions they receive for selling Lotterywest products. The 10.8 per cent increase, effective from December...
