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
Online reviews are an important marketing tool for many small businesses. They give potential customers and clients a chance to see how effective your goods or services are, how responsive you are to your clients, and what other people’s experiences of your business have been. The vast majority of people check online reviews before making a purchasing decision. When reviews are great, that’s a fantastic thing. It’s when you get… Read more
Welcome back to our Business Update! WA Small Business Lockdown Assistance Grants Program The Western Australian Government has announced targeted grants to help small businesses affected by the recent lockdown in the Perth and Peel regions. The program will provide grants of $2000 to small businesses in industry sectors most severely impacted. The intention is to help small businesses offset some of the direct costs of the lockdown and business… Read more
Welcome back to our Business Update! Australia- New Zealand Travel Bubble Now Open The long-anticipated travel bubble between Australia and New Zealand started on Monday, marking the first step towards the gradual reopening to the rest of the world. Since October, Australia allows New Zealanders to arrive without going into quarantine, but New Zealand has taken a more cautious approach. The start of this travel bubble comes ahead of the… Read more
Welcome back to our Business Update. 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… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. COVID-19 Vaccination Drive On Track, Says PM Prime Minister Scott Morrison said the vaccination drive against COVID-19 is on track to meet the target of having everyone inoculated by October, despite delays. As of 7 March 2021, the total number of people who have been vaccinated stands at 86,369.… 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
Nobody wants their business to fail. Although it’s impossible to predict the future with 100% accuracy, a cash flow forecast is a tool that will help you prepare for different possible scenarios in the future. In a nutshell, cash flow forecasting involves estimating how much cash will be coming in and out of your business within a certain period and gives you a clearer picture of your business’ financial health… Read more
Welcome back to Business Update. Read on for the latest updates and some ideas to help us all move forward. Second Shipment of Pfizer Vaccine Arrives in Australia The second shipment with about 166,000 doses of the Pfizer-BioNTech COVID-19 vaccine arrived late Monday, as Australia entered the second day of a nationwide immunisation drive. Total weekly doses will be increased to 80,000 next week, from 60,000 doses this week. When… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Australia Set for 10th Day of No Local COVID-19 Cases Australia is on track for its 10th consecutive day of no new local COVID-19 cases, with NSW hoping to ease restrictions this week after controlling a fast-spreading cluster. Meanwhile Victoria, which is hosting the Australian Open tennis tournament, has… Read more
Having total control over your finances can give you an amazing sense of freedom. In this article, we will share some of the most useful tips that you can start now to live a better financial life. Build multiple sources of income Whether it’s through your business, a side hustle, or investing, building your income network can help you secure your financial future. Starting early means you can compound over… Read more
Everyone wants the best for their children, and this includes being successful. Being successful is not just about money– it is about wealth in all aspects of life. In this article, we will share some life lessons you should teach your kids while they’re young, to help them grow into adults who can build financial wealth, meaningful relationships, and an overall happy life. Lead by example Children learn from their… Read more
Thank you for your amazing support during this incredibly busy and challenging year. We hope you and your loved ones enjoy a safe and healthy festive season. We look forward to working with you next year! As usual, here are the latest updates and some ideas to help us all move forward. November Retail Sales Surge Preliminary data showed Australian retail sales jumped 7% in November from the month before,… Read more
Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s updates and some ideas that help make doing business easier. Australia Bounces Out of Recession As Economy Grows 3.3% Australia’s economy grew by 3.3% in the third quarter as it rebounded from its first recession in nearly 30 years. This rebound in Q3 GDP reversed around 40% of… Read more
Casual Employment Updates November 2020 Last month there were significant changes made to Casual Employment. Do you know if your business was affected? Some of the updates will mean changes to overtime pay rates for casual employees in some awards. If your award was affected and you have not updated your systems, you may be at risk of underpayments! To find out if your award has been updated you can… Read more
As business owners, we are always trying to find ways we can increase revenue streams. Adding a recurring revenue stream (or two, or three!) can provide a predictable, ongoing source of income which can increase profits., and, it’s a great way to provide a buffer for any unexpected sales dips. Here are three simple ways to start earning recurring revenue for your business. Auto-renew subscriptions The most tried and true… Read more
Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s updates. Australia Opens Up More Borders in Domestic Travel Australia will lift more internal state border restrictions in a boost for tourism as new COVID-19 cases slow to a trickle, while the first vaccines could be available in March. Queensland will allow visitors next week from New South… Read more
Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s updates. 6-Day Lockdown Ordered in South Australia The state of South Australia began a 6-day lockdown at midnight on Wednesday, with schools, universities, bars and cafes closed. Only one person from each household will be allowed to leave home each day, and only for specific reasons. Under this… Read more
Every small business owner knows how challenging it is to cut down expenses without somehow compromising internal or external quality. Regardless of the nature of your business, the first step to reducing your overhead costs is to take the time to go through every single expense you have. Next, assess which ones are necessary for your business to operate smoothly, what can be trimmed down, and what can be eliminated… Read more
Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s updates and some ideas that will help us all overcome this crisis. Australian Business Confidence Highest Since 2019 Australian business confidence in October rose to its highest level since mid-2019 as the economy showed more encouraging signs following the steep decline brought by the pandemic. According to NAB’s… Read more