The SBDC’s own Facebook group, ‘I’m a small business owner in Western Australia’, was created in 2014 to provide an active online community in which local business owners could network, ask for advice and share knowledge. The group recently hit the 15,000 member mark, and has proved to be a highly appreciated asset for small business owners to...
Regularly reviewing your business costs and raising your prices is good practice to stay profitable. Follow our three steps to see if it is time to review pricing for your business.
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...
Find out more about the key changes taking effect from 1 July 2024 that are likely to have an impact on small business owners in Western Australia. New minimum wages The minimum wage for both the national and state industrial relations systems will increase from the first pay on or after 1 July 2024. National minimum wage increase If your business...
The start of a new financial year is often that time when changes to national or state legislation is introduced. Here is a run-down of the key changes taking effect from 1 July 2022 that are likely to have an impact on small business owners in Western Australia. New minimum wages The minimum wages for both the federal and state industrial...
If you’re a business owner, it’s important to understand your obligations to provide a safe and healthy workplace. This includes keeping up with changes to health and safety legislation. The Department of Energy, Mines, Industry Regulation and Safety has introduced new Work Health and Safety (WHS) laws for Western Australia. Here are seven things...
If you’re like most small businesses, you’ve been using Single Touch Payroll (STP) since it was introduced by the ATO in 2019. Now, it’s time to plan your transition to STP Phase 2 reporting. STP reporting was introduced to streamline the way businesses report their employee’s payroll information such as tax and super. STP Phase 2 has been rolling...
Here’s your guide to what to do if a product you make, sell, import, distribute or otherwise work with in your business is recalled for safety reasons. Every business has a responsibility to make sure their products are safe for consumers, no matter where you are in the supply chain. This means that whether you manufacturer, import, distribute or...
A bad credit rating isn’t helpful in your personal finances – but did you know it can impact your business finances too? While your business may experience fluctuations in cash flow for a range of reasons, it’s worth ensuring you can pay your bills and debts on time to protect your credit rating. Here’s what you need to know about your credit...
You’ve probably heard of phishing, where cyber criminals send texts, emails or social media posts which appear to be from individuals or organisations you think you can trust. Business email compromise takes phishing one step further. Using phishing techniques, cyber criminals can steal information such as log in and financial details by...
Free financial counselling services are available to help small business owners who need information about managing debt or are in financial distress. Financial challenges are often cited as the biggest cause of anxiety for small business owners. An Australian Government Department of Industry, Science, Energy and Resources report Small Business...
Accessing the free advisory services available from state and federal governments can help small business owners avoid the costly mistakes others have made when it comes to wages and underpayments. Celebrity chefs and national convenience store franchises have done much in the past few months to throw the issue of staff wages and underpayments into...
