As a small business owner, it’s important to pay yourself a regular wage – and it’s just as important to make sure you pay the right amounts of tax and super too. Here’s your quick-start guide to paying yourself in your business. Step 1: Start with your business structure The way you pay yourself depends on the structure of your business. We have...
Small businesses in construction may feel pressured to quickly sign on the dotted line to secure work. But being unfamiliar with certain terms and clauses in contracts can lead to you working on unprofitable jobs or worse — paying out your client when things go wrong. Celia Jordaan, procurement consultant from Ichiban Commercial Consulting joined...
Do you feel like a vehicle you purchased for your business has been more trouble than it’s worth? No one likes the idea of having purchased a lemon, especially given the expense of buying a vehicle and your expectation of how it will save you time and money. As warranty periods can be limited, especially for second hand vehicles, the most important...
Great news! You don’t need to provide an on-site video arcade, unlimited holidays or free pet-sitting to be an employer of choice. With these simple ideas, you could create the kind of workplace and culture your team will love. You might spend a lot of time and effort attracting customers to your business – but how much have you invested in...
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...
There can often be confusion and disputes when you’re exiting a commercial lease and need to meet a number of ‘make good’ obligations. The make good clause in your lease will outline the condition the building must be in when the lease comes to an end. Here is a summary of the top make good obligations that most often lead to a dispute, and some...
It’s an unfortunate fact that small business owners are regularly the target of scammers – trying to take their money, business contacts, or business or personal identification details. Scammers often pretend to be from a government agency, like the Australian Taxation Office (ATO), or a well-known company you may have heard of, such as Telstra...
If you renew your business trademark through a private organisation, rather than IP Australia, you could end up paying three times more than required.
If you have never ventured into the world of business ownership before, you may be wondering how different it will be from being employed by someone else. We put together some details on how owning your own business can be a different experience from being someone else’s employee. Flexibility No matter how adaptable your employer is, it’s hard to...
If you’re one of the many small business owners across WA facing rising costs, uncertain economic conditions and the impact of inflation, you’re not alone. While you can’t control these factors, you can take action to help put your business in the strongest position possible. We asked one of our experienced business advisers, Brian Childs, for some...
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...
Running a business is challenging, and while many business owners are focused on optimising sales, marketing and accounts, essential information technology (IT) requirements can be easily neglected. Here are five IT areas that are easy to do and can give your business a big boost. 1. Maximise your web presence When was the last time you gave your...