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...
Crowd Source Equity Funding is a relatively new way to raise the funds needed to expand your business or to kick start a new venture. First things first. CSEF stands for Crowd Source Equity Funding. It’s a relatively new way to raise funds to expand your business. CSEF is evolving here in Australia with the introduction of the Corporations...
Our Small Business Commissioner, David Eaton, is calling on small business tenants and landlords to work together during this difficult time.
The way you’re feeling can often be aligned with how well your business is doing. The thought of whether you can pay the bills or wages, or whether your business can actually continue, are burdens that can weigh heavily on any business owner. There are a number of ways you can manage any stress and anxiety you are feeling. Unfortunately due to...
Landing a big client is generally cause for celebration as a small business owner. If you’re signing a contract to supply a client with your products or services, you might be asked to commit to an exclusivity clause. An exclusivity clause means you are being asked to restrict your supply of products to just that client, industry or geographical...
There’s more to offering a discount than simply reducing your prices. Offering discounts is a popular promotion technique to help increase sales and attract new customers, particularly if business is slow or you’re just starting out. Before you start offering discounts across the board, some careful planning, and considering other ‘value add’...
Withholding retention payments in construction can affect subcontractors’ cash flow and profitability. Often used in the construction industry, retention is a fixed percentage of the total payment due for a contract, withheld for a period after the work is completed. It’s there to make sure that the contractor or subcontractor properly completes...
Everybody loves music. Playing some tunes in your workplace can help create a positive working environment for your staff or help set the mood for your customers while shopping, dining or working out. Some studies have even shown it can influence people to buy more! But did you know that if you play music in your business, you’re required to have a...
We regularly hear from small business owners who have been asked to pay for government information or services that are actually available free of charge, or become aware of cyber scams that duplicate existing government services. Government websites are some of the most trusted and used resources for small businesses, and scammers are ready to...
There’s a common myth in small business that it’s a waste of time and effort to register for goods and services tax (GST) before your business generates $75,000 in revenue each year. Here’s the truth behind that myth and why you might need to consider GST registration sooner than you think. When you’re just starting out or coming through a tough...
Find out more about the pros and cons of short term leases and one could be right for your business.
It can be a lonely road when you work from home. Here are our tips on how to beat the isolation for the benefit of your wellbeing and your business.
