As a small business owner it’s hard to juggle your work and outside responsibilities. It’s important to run your business effectively and still have a life outside the office. You need a good balance between work and play for your health and well-being. Small business owners often fall into the trap of working too hard, ending up exhausted from the constant work demands associated with self-employment. Why you need… Read more
We are all in this together, let’s look out for each other. Stay Safe. Support for Victorian businesses As you have probably heard, the Victorian Government has announced updated restrictions for Melbourne and regional Victoria to help slow the spread of COVID-19. Stage 4 restrictions started from 6pm on Sunday 2 August for metropolitan Melbourne. Stage 3 restrictions are in place from 11:59pm on Wednesday 5 August for Regional Victoria,… Read more
As small business owners look to operations after COVID-19, there are some important business questions to ask. These questions will help you determine what adaptations you want to keep, whether your business model is working, and if there are additional changes you want to make to keep your company operational through future economic downturns. It’s not always fun to do this sort of examination, but the answers to these questions… Read more
We would like you to know, the HBF team is here to help answer questions. The road trip will have to wait a little longer. JobKeeper Changes Coming in September Last week the PM announced the JobKeeper wage subsidy scheme will be extended from September through to March next year, with some changes. Please be aware there are still plenty of “unknowns” surrounding the next steps, and these changes are… Read more
So the Morrison government gave a sneak peak at what JobKeeper 2.0 will look like from October 2020, and whilst most people are losing their minds, there are some good changes coming. How will you be impacted? What should you be doing now? And how can you prepare for life “post JobKeeper”? Well first and foremost, JobKeeper 2.0 is not legislation yet so we can’t tell you the exact impact… Read more
The government has announced changes to the JobKeeper scheme. The Treasury’s review found that the subsidy was still “needed” but required a “test to ensure that JobKeeper is well targeted”. Be prepared This means there will be changes to your current situation and your entitlements will be affected. The details of the changes are being announced now and we will ensure our clients are fully informed as to how this… Read more
We hope our clients and their families are coping okay with all the changes. Stay safe. JobKeeper Changes Coming in September This week the PM announced the JobKeeper wage subsidy scheme will be extended from September through to March next year, with some changes. This comes as businesses continue to struggle and as an increase in infections has been reported in the southeast. The JobKeeper subsidy has been extended to… Read more
Showcasing a business online is an increasingly effective tool for attracting new customers. Blogging is a great way to start to communicate with your target audience. Blogs are highly effective tools for sharing your expertise with others, increasing web traffic and brand awareness, and for attracting and interacting with new customers. WordPress and Blogger are free web hosting platforms that make blogging available to businesses of all sizes. What… Read more
Last year’s introduction of Single Touch Payroll (STP) means that tax time this year will be a little different. Employers are now required to report pays, taxes and superannuation information directly to the ATO each payday through STP. Employers that do report this way will not have to give you a payment summary as they usually would at this time of year. Instead, employees will get an end-of-year income statement… Read more
With the borders closing, we hope our clients with interstate customers are not as heavily impacted as our Victorian clients. We know this is not ideal, however, we know these measures are to restrict the spread of Coronavirus. We can’t wait for a HBF road trip when things are looking better. Next phase of JobKeeper to come after September PM Scott Morrison confirmed today that there will be a “further… Read more
Increasing efficiency and minimizing costs are essential to running a profitable business. Yet many small business owners waste countless hours on meetings that lack focus, run on too long, and pull staff away from more productive tasks. Follow these seven tips to make your meetings more efficient and cost-effective. What’s your goal? Every meeting should have a clear objective, and a reason the meeting is needed (versus an email or… Read more
It looks like restrictions are increasing in Victoria. We hope our Clients are managing well. We have a feeling that remote learning is headed back to Victoria. We feel for all working parents, juggling everything at once. State grants and support programs Each state and territory has announced various grants and assistance packages which you may be eligible for. You can find a roundup of these grants on the Government’s… Read more
Social media time management and web strategy concept with a clock and social network word and sign printed in multiple colors 3d render image. With social media, you can connect with business associates quickly and creatively. But this communication mode is not without risk. A thoughtless post can offend customers and other business partners and damage relationships rather than build them. By following a few ground rules you can be… Read more
End of financial year is a great time to start using accounting software, either for the first time or perhaps upskilling to ensure your current software is kicking goals for you. Maybe you need to upgrade your excel worksheet or shoebox of receipts to something a bit more robust. Perhaps you are still highlighting items from your bank statements and getting sick of spending hours on historical transactions. Getting organised… Read more
This weeks latest news on all things Covid-19, Coronavirus and government stimulus packages. Please note that restrictions for those in Victoria have increased due to a higher number of Coronavirus cases being reported. Heading into EOFY and school holidays, this was not a desired outcome, but necessary to curb the rise of cases. Second Round of Cash Flow Boosts If you received initial cash flow boosts, you’ll automatically receive additional… Read more
Business dashboards are a valuable business intelligence tool, offering an “at-a-glance” big picture view of a company’s performance. Most accounting software companies are jumping on the bandwagon, which is making your life so much easier to instantly see your business highlights. Some business owners use a dashboard to track KPIs relevant to just one aspect of their business, such as sales growth, marketing, or financial data. Others rely on an… Read more
We are steamrolling towards end of financial year and it seems any relief from the Coronavirus has been short lived. Cases are on the increase and many state borders remain closed for travel – not ideal news with school holidays fast approaching. Instant Asset Write-Off Extended Last week, it was announced that the Instant Asset Write-off has been extended for six months to 31 December 2020. Australian businesses with less… Read more
If you’re like most small business owners, there are never enough hours in the day to complete every task on your list. So how do you set good business habits to ensure the right things get done at the right time? Often you’re faced with prioritising what you need to do right now – deal with a customer, meet a deadline, attend an event – and the things you know… Read more
Good news for those business owners with the capacity to invest in assets this calendar year. This week the government announced that the Instant Asset Write-off has been extended for six months, taking the initiative to 31 December 2020. Australian businesses with less than $500 million annual turnover will be able to take advantage of the write-off and invest in assets to support their business. This government initiative is designed to… Read more
The start of the financial year is the perfect time to dust off last year’s business plan and set some new goals for the next 12 months. While some entrepreneurs love planning, others feel overwhelmed by the process. How do you decide on just a handful of goals that take priority, with so many moving parts that make up a business? These tips can help you get started brainstorming how… Read more