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Your business may be small but that doesn’t mean the financial risks are. Here are five tips to help anticipate and minimise the risks that can affect micro businesses. Read more
Comments: 1The sign on an abandoned business that reads “Landlord taken possession” usually hides a pile of pain and distress. Read more
Comments: 1If you are starting a business with one or more others, choosing a partnership business structure might seem like the logical option. But there are both advantages and disadvantages you must be aware of before making the choice. Read more
Comments: 1Choosing new accounting software can be daunting, but this systematic approach will help you decide which option is best for you and your business. Read more
Comments: 2As the simplest form of business structure to set up and relatively inexpensive to start and maintain, being a sole trader definitely has perks. But is it really right for your business? Read more
Comments: 0What might seem like a cash version of a common cold could be a sign of something more serious. Here are some key symptoms your business finances are genuinely unwell, and what to do about it. Read more
Comments: 5Before purchasing a new accounting package, it’s essential that you identify exactly what you need it to do. Read more
Comments: 6You’ve decided you want to start your own business. One of the key decisions you now need to make is which structure will work best. Read more
Comments: 0Are you still managing your finances on an Excel spreadsheet? Perhaps it’s time to switch to a more sophisticated system. But where do you begin? Read more
Comments: 16For many business owners, the decision about which business structure to choose can be confusing. Here are four common business structures and some essential things to consider when making the choice. Read more
Comments: 3As with any business, going out on your own comes with a number of financial risks. Some of these can be offset with the right approach to lending, insurance and superannuation. Read more
Comments: 0Having a clearly defined, full-of-enthusiasm reason for wanting to make more money will go a long way to making it happen. Read more
Comments: 2With the festive season fast approaching, now is the time for your business to start preparing its finances for this period. Read more
Comments: 2Taking the leap from a full-time job to running a solo business is a life-changing event, so it makes sense to get your life insurance in order when you do. Read more
Comments: 0Talking about money with your spouse can sometimes be difficult for micro business owners, especially if there’s a big difference between your and your partner’s income. Here are some tips for broaching this sensitive subject. Read more
Comments: 6The first few years after starting your own business can be tough on your finances, so it’s good to know what small business government benefits are available to help you out. Read more
Comments: 3There’s one mistake small business owners make with money that has a huge impact on their Money Mojo. The good thing is: it’s easy to fix. Read more
Comments: 6If you’re like me and love the control that self employment provides, there is every chance that a Self Managed Superannuation Fund (SMSF) will provide the flexibility and control over your retirement assets that you have become accustomed to in your work Read more
Comments: 4Ensuring you have steady access to cash in your business is critical for its long-term survival. Here are five tips to help you with managing cash flow. Read more
Comments: 1Get the most out of your accounting software – and save time and money – with these handy accounting data processing tips. Read more
Comments: 2Avoid unnecessary costs from your accountant or bookkeeper by getting these ten basics of accurate record keeping right. Read more
Comments: 1Wondering how the 2012–13 budget will affect your business? While there are a few benefits for SMEs, on the whole it leaves much to be desired, writes Michael Quinn. Read more
Comments: 2Getting paid on time is essential to minimising cash flow problems, especially for new businesses. Here are seven simple techniques to help you to manage your cash flow and avoid roadblocks. Read more
Comments: 7Keeping good small business records involves more than just knowing which records to keep and for how long. It could mean the difference between the failure and success of your business. Read more
Comments: 0Every penny you don’t spend in your business adds to your bottom line. Here are twenty tips to help you cut costs. Read more
Comments: 2Building wealth and gaining financial independence is something many strive to achieve, but very few accomplish. Why is wealth creation so hard? And how can you join the wealthy minority? Read more
Comments: 7Understanding how much it costs you to provide your product or service to your customers is vital to running a profitable business. This case study will help you understand why small business costs are so important. Read more
Comments: 4Having the right business structure is fundamental to both the initial success of your business and its ability to grow, remain flexible, be tax-effective, protect assets, and minimise your costs. Read more
Comments: 2Every time you provide goods or services before you receive payment, you’re extending credit to another party. Having a credit policy in place will help make sure you get paid. Read more
Comments: 0Profitability and cash flow are everything in business. What can you do to improve yours? This handy checklist is sure to give you some areas to think about. Read more
Comments: 3What steps do you take when your bank balance is shockingly low? Here’s how to survive a financial drought whereby not only do you come out of it in one piece, but you come out of it on top. Read more
Comments: 1When all other strategies fail to get a debtor to pay up, you may need to take the dispute to court. Here’s what you need to know about going to court. Read more
Comments: 3Business owners tend to focus on the bottom line: the profit we are going to make. But a business can have $100,000 in profit AND an overdrawn bank account. Why? Because of poorly managed cash flow and no cash flow forecast. Read more
Comments: 3For most soloists, business activity statements (BASs) are a fact of life. Here’s what you need to know about them. Read more
Comments: 1Issuing a letter of demand is the first step in initiating legal action when a customer hasn’t paid, and can sometimes motivate them to open their wallets. Read more
Comments: 2There’s no point being in business if you’re not making money and keeping some of it for yourself. Could any of the following ideas improve profitability or cash flow for your business? Read more
Comments: 0Don't throw your hands up in frustration when your debtors don't pay. Take action. One option available is alternative dispute resolution. Read more
Comments: 11Keeping proper tax records means you’ll save on accounting bills and be able to claim the maximum deductions. These bookkeeping tips will help get you organised! Read more
Comments: 5The issue of getting paid has always been troublesome for micro businesses. Here's a checklist to help you develop your credit terms. Read more
Comments: 3If you import or export, you need to understand how currency fluctuations affect your profitability. Here’s a beginner’s guide and glossary of key foreign currency transactions terms. Read more
Comments: 9Good planning for retirement now could make your retirement years smooth sailing – but you need to make sure that your plans take your unique circumstances and goals into account. Read more
Comments: 2A good cash flow cycle is one in which the period between paying your expenses and getting paid by your debtors is as short as possible. Here are some strategies to tighten yours up. Read more
Comments: 1Bookkeeping is one of the most routinely outsourced business functions, but it’s critical that you retain overall control. Here’s what you need to know. Read more
Comments: 6Using the wrong small business accounting software can reduce the efficiency of your business, increase your operating costs and make controlling your operations more difficult. Read more
Comments: 17When you run a small business, you need to know where your money is at all times, not least when times are tough and credit dries up. Here are eight simple lessons to increase cashflow in your business. Read more
Comments: 10Bookkeeping is a vital part of running a business, but can also be overwhelming, especially if you’ve never done it before. These DIY bookkeeping tips will point you in the right direction. Read more
Comments: 6For small business owners, debt collection can be an evil necessity; it’s something many of us would really rather not do, but must if we want our businesses to survive. Here are some helpful debt collection strategies. Read more
Comments: 11If you think financial ignorance is bliss, you’d better be prepared to be blissfully broke. Knowing your financial position is very important. Read more
Comments: 6Working with a good tax accountant can be critical to the success of your business. So how do you find an accountant that is right for you? Read more
Comments: 12Minimising expenditure is a critical component of business survival and cash flow. Follow these practical expense management guidelines to help keep your business expenses under control. Read more
Comments: 7Choosing accounting software for your business can be difficult. Consider these important questions when you’re investigating your options. Read more
Comments: 14Thoughtfully set-up profit and loss statements generate meaningful data that can inform your business decisions. Here’s how to de-clutter yours and make it more user-friendly. Read more
Comments: 8If you’re sick of dealing with the shoebox full of receipts it could be time you considered hiring a bookkeeper. Here are ten questions to ask before you do. Read more
Comments: 22Are you one of the many business owners whose numbers look good yet you never have enough cash to cover your wage, supplier invoices or BAS? Here are some simple ways to improve cash flow. Read more
Comments: 11Professional Accountants can be critical to the ongoing success of your business. They can provide advice on company structure, financial management and legal tax avoidance. But their fees can be exorbitant! Read more
Comments: 25I recently had my first non-paying client as a soloist. And, if I may share, it hurt. As someone who likes to go on about the importance of building great client relationships, this really stung. Read more
Comments: 35Gone are the days when the last couple of tax returns would suffice to get a business loan. The banks, spooked by the credit crunch, now require precise information before lending you money. So what sort of shape are your business accounts in? Read more
Comments: 2Those who’ve attempted to get new lending or renew an existing loan will know how hard it is right now, so how do you grow your business without borrowing? Read more
Comments: 13If you can keep your cool while economic mayhem abounds, you could set up your business for not just survival, but for greater profit and cashflow when things improve. Here are some money management tips to thrive and survive in the downturn. Read more
Comments: 6Welcome to money savers anonymous. Hi! I am Heather Smith and I love to save money. I like to find a bargain, but what excites me even more than money saving is when I get something for free. Read more
Comments: 27A budget is a guide to financial performance of the business and a way to quickly identify overspending and potentially loss making situations. Here are answers to the most common questions asked about small business budgeting. Read more
Comments: 2Over the years I’ve trialled different ways of managing the paper flow in my own office. I’ve found managing invoices to be something that needs extra care. Read more
Comments: 4An age-old question accountants get asked by business clients is “How come I’ve made a profit but I don’t have any cash?”. Solving cash-flow problems is an issue for many businesses. Read more
Comments: 7After years of working in Management Accounts, the same invoicing errors keep cropping up. So I'd encourage you to print out a copy of your business invoice and discover whether you’re guilty of delaying your own cash flow! Read more
Comments: 19Although you may not think business cost managment is the most exciting topic, it is something you need to consider if you want to make sure your business is not leaking money! Read more
Comments: 21Accounts Payable may seem like a dull subject but when handled properly it can provide many opportunities to improve your cashflow and profit. This article discusses how to use your Accounts Payable to your advantage. Read more
Comments: 7Recently I wrote a piece that generated quite a discussion. It was about a soloist who was uncomfortable with money. Here's a summary of your excellent money management tips. Read more
Comments: 3In my last article I discussed ways to improve business invoicing and steps to avoid bad debts. In this article I'll discuss recovering money and ways to speed up payment after the invoice has been sent out to your customer. Read more
Comments: 14Oh, no it’s happened again. I’ve just finished a conversation about money management skills with yet another person who’s allowed money to wreak havoc. Read more
Comments: 79How well you handle business invoicing can make or break your business. There are a number of different methods, so let’s look at some of the key factors in running a successful accounts receivable process in a typical small business. Read more
Comments: 8As an accountant, at this time of year people start arriving at my door with a shoe box stuffed full of receipts. Some of you may be chuckling in disbelief while others are blushing with recognition of their own small business record keeping! Read more
Comments: 28Working from home gives us freedom that is hard to find in an office environment. It’s easy though to forget about the importance of understanding insurance and ignore the possible consequences of a stolen laptop or an injury sustained while at work. Read more
Comments: 11How can a business making plenty of sales possibly go bust, you may wonder? The answer is cash. Your cash can be in a surprising number of places other than where it belongs - in your account. Read more
Comments: 12What is a trust? How can a trust help protect your personal and business assets? As for business asset protection, is it something you need to know about? Here are the answers, delivered in a straightforward manner. Read more
Comments: 7*Both options +GST. Join for a year and score a free copy of our book!