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
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. Australia Starts Fourth Quarter on Stronger Economic Footing Flash Australia PMI signals faster output growth in October as COVID-19 restrictions loosen. The IHS Markit Flash Australia Composite PMI, covering both manufacturing and service sectors, increased from… Read more
It’s very rare these days that people just happen to find your business and become a client or customer with no work on your part. Your business has to grab people’s attention, turn curious visitors into leads and then convert those leads into sales. This means that the more solid leads you have, the greater your chances of making a sale. Solid leads are those contacts who are engaged in… Read more
Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Lately, economists have been talking about a “K-shaped” recovery from the current recession. As this article in The Conversation explains, this kind of recovery happens when different parts of the economy recover at different rates. White-collar workers who can more easily work remotely may have an easier and faster path to recovery than… 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 update. Proposed Superannuation Reform Measures The Government has announced that it will spend $159.6 million over the next four years to implement a number of reforms to the superannuation system that will save fund members $18 billion in fees and other costs between now and 2030. The key… 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 update. Federal Budget 2020 Released The Federal Budget was released earlier this week. Here’s a quick rundown of the key points: This budget is based on economic assumptions including that there will be a COVID-19 vaccine rolled out by the end of 2021. Asset write off – businesses… Read more