I am pleased to see the ATO has recognised the potential impact of the STP initiative on small and micro businesses; and are considering extending the transition period, as well as, including alternate reporting mechanisms. Single Touch Payroll (STP) – an online payroll initiative designed to streamline the way employers report tax and...
Running a business from home provides several cost and lifestyle benefits, including a range of eligible tax deductions. Home based businesses provide an opportunity to save on rent, the time and cost of commuting while providing flexibility in your work hours. It can also provide valuable ‘breathing space’ while you grow your business. Eligible...
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...
Starting his business five years ago and completing nearly 20 of our SBDC business skills workshops so far, Laundon Peacock is someone who loves to learn! Here he shares some of his experiences and lessons from his videography business, LP Visuals. Laundon Peacock launched his small business, LP Visuals, while he was a university student. What...
Reaching out to the SBDC for advice was the key to helping Elizabeth Lang from Diversity Focus make the right decisions during her business journey. Diversity Focus is a research, consultancy and training business that was established in 2017, inspired by the vision to create a more equitable and inclusive world. Founder Elizabeth Lang said that...
Business benchmarking is the process of comparing your business’s performance, processes, or products against your competitors or industry standards. Whether you have a new or firmly established small business, here’s why benchmarking is worth introducing if it’s not already part of your business management practices. You’ve probably heard the...
Applying for a grant or tendering opportunities can involve formalising, adopting or reporting on practices you might not have considered before, such as sustainability practices, inclusion and diversity, and modern slavery risks. More than ever, government bodies and corporations are taking a formal approach to addressing climate change through...
Nobody likes an awkward conversation. As tough as it may be, it’s hard to avoid difficult conversations when you’re in business. Here are some tips to help you plan ahead and ensure difficult conversations run smoothly and calmly. Difficult conversation #1: A client hasn’t paid you When you spend so much of your time working to attract new clients...
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. Some industries, such as wholesale trade and accommodation and food services are more prone to feeling...
With spring in the air, now is the time to take stock of your business and get organised before the busy festive season
Is your goal to operate a business that has a purpose beyond profits? If you’re striving to create a positive change through your business activities, then you may be interested in the concept of a social enterprise. What is a social enterprise? A social enterprise is a business guided by a purpose. This could include solving a social problem...
On 1 July 2024, Business Local became SBDC Regional. While the name has changed, we’re still here providing you with free business advice and support in your area. Find your SBDC Regional provider . A free business advisory service is helping small businesses in regional Western Australia to realise their full potential, as the state navigates the...
