The Australian Taxation Office (ATO) has announced it won't take action on late directorID applications if you apply by 14 December 2022. Find out more. From 1 November 2021, you will need a director Identification Number (directorID) if you are the director of a company or want to become one. What is a directorID? A directorID is a unique 15 digit...
When an epic overseas trip in 2012 sparked an idea for a side hustle, Josephine, her husband Vince and business partner Michael embraced their entrepreneurial sides by importing and selling unique luxury tiles. Initially targeting qualified tilers for commercial projects, the team started selling out of a shipping container. They soon realised they...
Problems and delays getting invoices paid can be an issue for all types of business – and contractors and subcontractors in the construction industry can be hit particularly hard. Many subcontractors and suppliers have to spend considerable amounts of money to pay for the materials and labour they need to complete a project. Issues and delays...
If you have a great idea for a new product, you’re at the start of an exciting but complex business journey. From developing your idea to testing demand in the market and finding the right manufacturer, here’s your guide to the steps involved in turning your idea into a new product available for sale. Step 1: Develop your idea Developing any new...
Did you know that your average Australian small business signs eight standard form contracts per year? This is why it’s so important to know your rights when entering into a standard form contract, or providing a contract to others. While protection for consumers entering into a standard form contract has existed for many years, in 2016 similar...
If you accept cash payments, make sure you know how to spot fake banknotes so you don’t find yourself out of pocket. Counterfeit money, in particular fake $100 notes, can often creep into circulation in particular during festive and holiday periods. Remember: you’re within your rights to refuse to accept a banknote If you suspect it's counterfeit...
If your business has been affected by a skills or labour shortage, here are some ways you can take action to keep your business thriving. An ongoing challenge many businesses are facing is the shortage of skilled or available workers across many industries. Some workers may have changed careers or industries, others may have moved away or perhaps...
Cheaper prices can certainly make your products and services attractive to some customers – but are they are a sustainable business strategy? We’ve spoken with a pricing expert to debunk some common pricing myths. If you’re like most small business owners, setting your prices can be difficult. While you want your products or services to appeal to...
When it comes to social media, it’s negative comments and reviews that cause the greatest concern to small and medium business owners according to the 2020 Yellow Social Media Report. Negative reviews can have a significant impact on your business, not to mention the frustration and anxiety they can cause. Fortunately, like complaints made in...
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...
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 . Launching, running and growing one business is an achievement that takes a considerable amount of time, enthusiasm and effort. In Pat McCarthy’s case...
Most business owners who’ve worked hard to establish their business, want to see it continue to thrive after they leave. A succession plan, or exit strategy, determines the best way to leave a business, whether that’s by sale, passing it onto other family members, introducing new management, or simply reducing your role in the business. Succession...
