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...
Once you’ve developed your business plan, successfully launched your business and are starting to enjoy life as an entrepreneur, you may be thinking about the best ways to take your business to the next level. Whether you work from home or from other premises, one way to get more done in your business is to hire some extra hands to help. Hiring...
If you’re a small business owner with limited resources, recruiting new staff can be a demanding exercise. To help you get through the process in a timely manner, we’ve put together tips to help you sort through job applications, run interviews and, most importantly, find the right person for the job. Identify the skills required Write down exactly...
Personal services income (PSI) can be earned in just about any industry, and can attract special tax rules. PSI is defined by the Australian Taxation Office (ATO) as income that is mainly a reward for your personal efforts or skills. It can be earned in almost any industry or job and can affect the tax obligations and the deductions you can claim...
Trying to promote your product or service to everyone can be costly and can miss the mark. Knowing who your ideal customer is (based on certain characteristics) will help to focus your marketing efforts on those who are willing to pay for your product or service. It will also help you to work out if there are enough of your ideal customers to make...
If you’re running a tow truck business, you may be impacted by new industry regulations. As part of the Towing Services Bill 2024, a range of towing industry reforms are being rolled out in a staged approach. The first stage of changes, which relates to capped fees and maximum charges, took affect on 10 January 2025. New requirements for tow truck...
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...
Having a written cancellation policy is a must for businesses that offer services, to protect your business and stay on the right side of the law.
Whether you’re an employer or a person who considers themselves self-employed, it’s important to know the difference between what the Australian Taxation Office (ATO) sees as an employee and a contractor to ensure you are meeting your tax and super obligations. Many people believe that a worker is automatically a contractor if they have specialist...
Using an unregistered agent to lodge your tax return or business activity statement (BAS) can put you and your business at risk. An unregistered tax or BAS agent may not have the appropriate qualifications or skills needed to handle your BAS or tax requirements. If the agent is negligent with your return, you will not be protected by the safe...
The Shire of Augusta Margaret River has recently become the first certified ECO Destination in Western Australia, and has partnered with the Margaret River Chamber of Commerce and Industry to launch a Local-Is-More program to encourage the community to buy locally. The Shire of Augusta-Margaret River joined the SBDC’s Small Business Friendly...
The Small Business Development Corporation (SBDC) has been working with State Government agencies and local governments to raise awareness of small business’ role in providing amenity and vitality to the community; and the importance of ensuring practices that minimise the impact of construction on their operations. We have developed guidelines...
