Financial management
Your small business’ handling of financial management can make or break your success. This section includes a wealth of tips for better financial management covering topics including business invoicing, small business record keeping, cash flow forecasting, money saving, understanding insurance and steps to create your budget. And for when things don’t go according to plan we also look at recovering money. Need help calculating your hourly rate? Try this hourly rate calculator. Check out our step-by-step course to solo success.
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Financial management
Smashed by drought, bushfires and pandemic…but the economy does “okay”
The Australian economy shrank just 0.3 per cent in the March quarter… pretty good when you consider drought, bushfires and the start of the pandemic. By comparison, the US economy shrank 5 per cent in the March quarter; the UK fell 7.7 per cent; Germany fell 8.6 per cent; and China fell 33.8 per cent.
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Financial management
The surprising benefits of running a business from self storage facility
Don’t think of self-storage units as being entirely limited to temporary storage space between moving homes. Instead, see it as the business opportunity that it is, writes Kirsty Morbidelliis of U-Store-It.
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Financial management
3 easy ways to save money
The COVID-19 pandemic has affected Australian households in many ways, but one of the biggest has been our personal and family finances. If your own income has been impacted, it could be worth seeking out ways to cut unnecessary costs you may be unaware of to save yourself some cash in this time.
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Financial management
Where is the sharemarket going?
Another big on the the Australian sharemarket. But the big question is have we beaten the virus when it comes to markets?
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Financial management
Tax Practitioners Board warns of Covid tax scams
The TPB says businesses should take extra care when seeking outside assistance in accessing the government’s COVID-19 stimulus measures as unregistered tax operators and online scammers are attempting to capitalise on many small business owners lack of know-how.
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Financial management
It’s time to renegotiate your rent… or lock in good tenants
‘The investment property market is being hit hard by the pandemic which is seeing a huge increase in residential properties up for rent which is pushing down rental income. Inner city Sydney and Melbourne are the hardest hit.
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FROM THE FORUMS
How much is this store worth?
Who says it makes $7000 a week? If it’s the owner then definitely half that and get everything checked professionally . The owner has done that so no reason for…
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Financial management
What’s your COVID-tude?
Never in our past have we all had so much uncertainty. The world is collectively and separately negotiating one of the toughest times. Each of us is also uncovering our own attitudes towards the situation – our own COVID-tude (attitude towards this crisis). People, and businesses, are in various states of stress, grief, uncertainty and fear. The speed of change has been phenomenal.
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Financial management
My 15 minute challenge to get you through this recession
Here’s a challenge. We want you to spend 15 minutes a month thinking about your money. Doesn’t sound much but how many people, or couples, actually sit down and think or talk about their finances. No, we’re not talking about paying bills, checking the credit card statement or doing the banking. That’s managing your money and very different to being informed and thinking about your money in the big picture.
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Financial management
VIDEO 5/5: How to market your business during a crisis
In our final video for our COVID-19 pandemic playbook for small business series we're speaking with Andrea Atzori, founder of Digital Content Marketing Agency, Ambire about the best marketing strategy to implement for our small business during a crisis.
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Financial management
The tax tips you need to keep afloat during COVID-19
The pressure COVID-19 has put on small and medium businesses is staggering. In less than a month following Australia’s new trading and social distancing laws, two-thirds of the country’s SMBs have already reported a slump in revenue, with one in ten businesses grinding to a halt all together.
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Financial management
It’s your superannuation… it’s your money
I’ve become increasingly annoyed at how superannuation funds have been waging a war on Australians against accessing their money in times of financial hardship…like now.
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Financial management
How to navigate finance through the coronavirus pandemic
Right now, Australia is in the grip of the global COVID-19 pandemic, and so much has changed in a short space of time that some of us are finding it hard to keep up, writes Reuven Barukh, CEO of LIVE Group.
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FROM THE FORUMS
Transition from Sole trader to P/L: FTB, CSA, Austudy
Hi Julian, Assuming your still on this site, and you manage to see this... (10 years on) did the rude, unprofessional accountant shut-down your business venture…
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Financial management
VIDEO 4/5: How to pivot your business during a crisis
Has COVID-19 challenged the way you look at the future of your business? Deciding what to do next is not easy. In this interview with Vonto Managing Director, Elliot Cousins we look at how making good use of business data can help you make informed and inspired choices about the future or of your business.
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Financial management
How could my wife help our business?
In an earlier "Tell Me Straight" post, I outlined the situation my wife is in with her employer refusing to pay her Jobkeeper. I am a pretty good "The Writing's On The Wall" type of guy and I wouldn't mind saying this could be the beginning of the end for her job because she is hesitant to continue working for people that obviously don't wish to support her.
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Financial management
Worried about bill shock? Here’s what working from home will cost you
Energy Networks Australia has today released a fact sheet outlining what additional electricity costs customers may face when working from home.
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Financial management
Survey finds small businesses already doing it tough before COVID-19
A study has revealed 1.2 million Aussie businesses were already making sacrifices to stay afloat prior to the shutdowns instigated by the Australian government in an effort to stem the spread of coronavirus.
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Financial management
Coronavirus update: unemployment to rise above 10%, testing expanded, the curve flattens but restrictions continue
Australia is set to hit double-digit unemployment rates for the first time in 26 years. The Treasury reports the partial economic shutdown has put more than 700,000 Australians out of work with estimates the figure will rise to one million before the end of the June quarter.
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Financial management
This stimulus package website has everything you need to know about government help for small business
Having trouble wrapping your head around what you’re entitled to from the coronavirus stimulus package – this new website could help.
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Financial management
VIDEO 1/5: How to get maximum benefit from the stimulus for sole traders with Ben Nash
It’s normal to be feeling very overwhelmed right now - even by how much information there is. Let’s get stuck into the essentials. Starting with the financials: getting to the bottom of what the recent government stimulus packages can offer us as sole traders. Ben Nash, founder of Pivot Wealth is here to help.
