Strategic Considerations For Selling Your Business
At a glance: Deciding when to sell your business is a pivotal moment—one that warrants careful analysis and strategic planning. Below, we delve into essential factors to guide your decision-making process: Motivation Assessment: Reflect deeply on your motivations for selling. Is it a desire for new ventures, retirement, or a change in personal circumstances? Ensure t...
A good credit score is important to your success. Here's why.
At a glance: A good credit score is critical to financial success regardless of your objectives. You could be: A prospective purchaser of businesses or real estate Self-employed OR An employee "In Australia, a good credit score is important to be able to obtain finance, competitive interest rates, and financial opportunities." says Daniel Walker, Director of Bon Voyage...
How much is a business worth?
There are three (3) dominant considerations that determine how much is a business worth. At a glance: How much is a business worth is largely a consideration of: Profits in the business The business potential for future profits The perceived risks in the business If you are a buyer, you may assign different weighting on the above considerations, and this will affect the price ...
EOFY checklist
Here are six ways in our EOFY checklist to potentially reduce your small business’s tax liabilities at the end of the financial year. At a glance: Here’s a snapshot of the advice from our interviewees: Getting tax-smart begins with keeping on top of your expenses and writing off any bad debt that won’t go away. Consider using investment accounts to reduce taxable ...
Paying off tax debt - Lodgement Penalty Amnesty Program
On 9 May 2023, the Federal Government announced the Small Business Lodgement Penalty Amnesty Program a part of the 2023-2024 Budget. The amnesty applies to overdue income tax returns, business activity statements, and fringe benefits tax returns that were due between 1 December 2019 and 28 February 2022. During the Covid-19 pandemic, the Australian Tax Office (ATO) restrained i...
Cash flow kills 90% of all small businesses
How poor business cash flow management kills 90% of all small businesses In small business, cash is king. Cash flowing in and out of a business is the lifeblood of any business. The lack of cash to pay for expenses as they fall due is a cash flow gap. Cash flow gap arises when business owners do not know its business needs. According to Account...
Foreigners buying real estate properties in Australia
There are many reasons for foreigners to snap up Australian real estate properties. If you are a foreigner, you might do so because of these reasons: Australian Real Estate has performed well over a long period, whereas other traditionally favourable investments such as US shares and European bonds have been much more volatile. To diversify your investment portfolios beyond your home shores...
Small business social media marketing for video
A practical guide to improving your social media marketing, plus examples of standout social video from real small businesses. At a glance Social video is on the rise – and small business owners should be across recent changes to key platforms. Instagram and Facebook are prioritising vertical videos of set specifications and limited time length. Use space wisely – and ...
Ways to manage energy price increases for small businesses
A business energy strategist provides her tips on ways to minimise the impact of energy price increases. At a glance: After an uncertain few years, rising energy prices have put salt into the wound for small businesses looking to stay afloat. Sharon Musker of WiseUp Energy says business owners should prepare for further uncertainty on energy costs – but that there are ways to min...
A State-by-State guide to small business grants and allowances in Australia
Navigating a changing economy isn’t always straightforward, but Australian small businesses are used to embracing new opportunities. Grants and allowances may be available for small business owners to lean on either in times of financial need or ahead of a growth venture. We’ve rounded up the essential details of a whole spread of funding and rebates from each state and territory in...