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Five states in lockdowns After months of keeping the coronavirus under control, five out of eight Australian states and territories are battling the highly infectious Delta variant. In order to prevent the spread, lockdowns in three large cities have been implemented, affecting more than 20 million Australians, or about 80% of the population. From Tuesday, Queensland imposed a three-day lockdown in Brisbane and neighbouring regions as well as Townsville, while…  Read more

Too many businesses fall over because the owner has not established efficient business systems. This typically happens because the business owner is so caught up in the day-to day running of the business that the fundamentals of good business management get forgotten. Often too it must be said that the owner simply doesn’t like bookkeeping or other administrative tasks, so these get put on the back burner.   The symptoms…  Read more

Every business experiences slow periods when the market for their goods or services lessens and sales drop. Business owners might be tempted to view down times as unproductive or wasted, but there are ways you can make the most of your business during these seasons. Here are four ways to ensure this time isn’t wasted. Take a good look at your business When things are busy it gets easy to…  Read more

A Quick Overview The Superannuation Guarantee (SG) is scheduled to increase to 10% from 1 July 2021. If you have employees, you need to be ready for this legislated increase. What is Superannuation Guarantee? The Superannuation Guarantee is the minimum super an employer must pay to their employees super fund. The current SG percentage rate is 9.5% of employees Ordinary Time Earnings, but this is changing. Ordinary Time Earnings or…  Read more

Treasurer Josh Frydenberg has released the 2021 Federal Budget and confirmed Australia’s economy is performing more strongly than was expected six months ago. This article has a summary of the “Winners and Losers” of the Budget and we’ve compiled a recap of the key points below. Get in touch with us if you have any questions. A Quick Overview This budget assumes our international borders won’t reopen until mid-2022. $1.9…  Read more

Many entrepreneurs operate with their business processes and systems in their heads. They know what they need to do each day and the way they want to get things done. Unfortunately when a business grows and staff need to be hired – or the owner needs to take time away from the business – it’s a real liability not having processes and systems documented in one place. Read on to…  Read more

Inventory is the lifeblood of your business. It is the largest asset on your balance sheet and your company’s biggest revenue-generator. It goes without saying that poorly managed inventory can do serious damage to your bottom line. Businesses without clear strategies for streamlining the in and out flow of goods will have trouble meeting their customer’s demands and will see mismanaged stock corrode their profits. Follow these tips to ensure…  Read more

Most small business owners can’t afford to think small. They always need to keep their mind on growth strategies to help them achieve long-term profitability. But becoming profitable in the first place often requires business owners to work long hours on a shoe-string budget. They don’t always have time to implement systems that will support them when they’re ready to scale. It’s not uncommon for entrepreneurs to use free or…  Read more

Often small business owners worry unnecessarily when it’s time to hire employees. They fear because they can’t offer the same high salaries and impressive benefits of a large company, they won’t be able to attract skilled workers. Fortunately, for many young workers these days, the ideal job doesn’t necessarily come with a big salary. Often it’s the opportunities and experiences a smaller company can offer that will pique their interest…  Read more

Making a few good local business connections can go a long way helping your business grow. Networking can spark mutually beneficial partnerships, lead to new opportunities, and attract more customers through word of mouth. In the age of social media, small business owners may think networking isn’t as valuable as it used to be. On the contrary, it’s just as important for people to get to know your face out…  Read more

It’s no secret that data loss can be a costly nightmare for a small business, with recent estimates citing the total cost of data breaches exceeding $2.1 trillion by 2019. Unfortunately, cyber attackers increasingly target small businesses because they are less likely to have security protection in place. Accidental loss or loss due to a natural disaster can be just as harmful to a business, with recovery efforts and delays…  Read more

We now look at eight characteristics important to successful businesses. International researchers who have studied many small businesses have found that these characteristics consistently play a part in the success of small companies. The eight characteristics are: Owners leading by Example Having a simple business structure Information sharing among employees Staff are carefully chosen Staff commitment and loyalty A unique product or service A specific Customer focus Prompt follow up…  Read more

Don’t be left up in the air by traditional IT solutions. Check out the top 9 advantages for small businesses switching to cloud computing. Cloud computing is fast becoming the norm because storing information and using software hosted on the Internet has many advantages. 1. Save money Traditionally, a small business spends money licensing software or buying packages to install or download onto individual computers. Cloud computing, on the other…  Read more

Trans Tasman Travel Bubble to Begin 19 April Australia and New Zealand will create a quarantine and COVID-testing free travel bubble starting 19 April. However, flights to and from some Australian states may cease if there are future outbreaks. Australians made up 1.5 million or 40% of arrivals to New Zealand in 2019 before the pandemic, and it was expected that arrivals will reach 80% of that level by early…  Read more

When it comes to the overall success of your business, one of the most important decisions you’ll face is how to price for the work you do. Charge too much and you could scare away potential customers. Charge too little and you could run yourself out of business. Figuring out how much to charge is stressful, but it’s worth it. If your business doesn’t bring in enough money to pay…  Read more

Brisbane Looking at Easter Lockdown Extension While the decision on the lockdown extension will not be made until Wednesday night, the spread of the UK variant of the coronavirus has increased the possibility of an extended shutdown in Greater Brisbane over the Easter weekend. State border closures and disruptions to flights could continue with fears Brisbane’s lockdown could spread to the Gold Coast, a popular holiday destination around this time.…  Read more

While many small business owners prefer brainstorming new ideas to pouring over financial reports, getting a handle on financial analysis can be remarkably empowering. Taking the time to regularly review financial statements can help you assess and improve current performance, avoid risk and make scalable plans for future growth. Protect your company’s financial health by learning your way around these three financial reports. Cash flow statement The cash flow statement…  Read more

Phase 1B of Vaccine Rollout Begins Phase 1B of Australia’s COVID-19 vaccination rollout plan started this week to further cushion the health, social, and economic impacts of the pandemic. Priority groups in Phase 1B include: elderly adults aged 80 years and over elderly adults aged 70 years and over health care workers not vaccinated in Phase 1A Aboriginal and Torres Strait Islander adults over 55 adults with a specified medical…  Read more

Digital signing, versus the traditional “wet” signature, has become increasingly popular in recent years.  More and more countries across the globe have endorsed the legal validity of digital signing, enabling businesses to digitize entire workflows and further optimize management processes. Whether you’re preparing an employee work agreement, finalizing a new client contract, or submitting an invoice, digital signing can prove beneficial in a number of ways. Here are just three…  Read more

Phase 1b Vaccination Roll Out to Commence on 22 March 2021 Phase 1b vaccinations will commence on 22 March 2021, and more than 1,000 general practices will join the COVID-19 vaccination program from next week to further strengthen the capacity and ensure an efficient distribution of vaccines across the country. Phase 1B includes vulnerable groups, such as older people and people with certain underlying medical conditions. Those eligible for Phase…  Read more