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...
When you first develop an idea you may decide to test it as a hobby but it’s important for tax purposes to know when an activity becomes a business
With prime position in the lobby of a busy inner-city building, Viaje Coffee was thriving under the management of Hugh Nguyen and his business partner Wayne Kang. “Before the pandemic, our business was going well,” said Hugh. “Viaje Coffee had a very loyal customer base and our business was growing. Then, COVID had a massive impact. The building...
Personal development is the ongoing process of assessing your values and goals, and developing skills and qualities to reach your potential. For small business owners, who often ‘are’ their business, ongoing personal development forms an important part of business success. However, without a formal personal development plan, developing your...
Buying an established business can represent a huge challenge – and a huge opportunity. Dr Vanessa Atienza-Hipolito bought a long-standing health business eight years ago and has discovered there is always more to learn. While many business stories begin as an idea that sparks a start-up, small business success stories can take other forms too. In...
Government agencies play an important role in our economy when procuring products and services. While big business is often in the headlines, small businesses account for most of the businesses in Western Australia — 97 per cent. They are major contributors to the economy, generating more than $50.1 billion in private sector activity each year. You...
Learn about the strategies you can put in place before 30 June to maximise your business’ tax return.
Food trucks have become a popular feature at many outdoor events. What do you need to know before starting a food truck business?
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...
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 . Nearly 10 years into their business, Maggie and Bryan Jacobs realised they were missing out on opportunities to expand their trade. The owners of...
Does taking a break feel like mission impossible? Here are some ideas to help you plan some time off without it impacting on your business.
Fiona Taylor is a health and wellness coach, running her business Choose Healthy while managing the demands of a separate day job. Fiona offers online food workshops, challenges, webinars and in-person workshops and presentations on food, energy and self-care. With 27 years of experience in the health and fitness industry, Fiona is well-placed to...
