Author: Ewen Fletcher

You may have heard about the new rules which require directors of Australian companies to obtain a Director Identification Number (director ID). The new requirement to obtain a director ID also applies to individuals who have an SMSF or a trust with a corporate trustee, which is why I wanted to bring this new requirement to your attention.

Growing a business is incredibly challenging. It takes time, expertise, and good decision making across the board. One of the decisions management will need to make is when to hire a Chief Financial Officer (or CFO). Timing is key for businesses looking to grow and achieve their goals. So, when should a business consider a Virtual…

A quick look at news headlines over the past 10 months (since we published our Business Outlook for 2021) reveals the turbulence the Australian economy has experienced. On June 1, Reuters published “Australia’s economy booms to pre-pandemic levels as consumers, businesses spend”. 6 weeks later, a Reuters headline read “Australia faces first economic contraction in…

Although Regional Victoria has come out of lockdown, support has been extended for Victorian businesses. The Victorian government has announced a fresh $2.34 billion injection to its business support package that’s jointly funded by the federal and state governments in response to Melbourne’s ongoing Delta coronavirus outbreak. Link to confirmation of extended support here. Here’s…

Staff turnover is expensive, particularly for small businesses. When a team member leaves, you must spend time and money on rehiring and retraining them. In the meanwhile, you lose out on productive hours while your remaining team members scramble to cover their responsibilities. It’s possible (or even likely) that your customer service might slip during…

The Super Guarantee rate is set to change this financial year for the first time since 2014. But that’s not the only change to super this year. Here’s what employers need to know about the superannuation changes in 2021:  Is superannuation increasing in 2021? The rate of compulsory super is now 10%, up from 9.5%…

As part of the latest lockdown (Lockdown 5.0), the Victorian government has provided initial payments for a number of businesses. These payments were automatically paid if your business received a similar payment for Lockdown 4.0. Due to the lockdown now running into a second week, the Victorian Government has announced a further $282.5 million injection…

Our past few blog posts have focused on preparing your business for a period of increased demand as the pandemic-related restrictions and uncertainty ease. We’ve discussed strategies to adapt your business planning and overheads to the new normal, as well as the steps you should take to ensure you’re ready for increased demand. This post…

A new round of grants is now available to eligible Victorian businesses affected by the latest lockdown and restrictions. Grants of up to $5000 are available for eligible businesses that have been affected. Applications are open until 11:59pm on 24 June 2021. The Business Victoria website has more details on eligibility as well as a…

The Victorian Government has announced further support for Victorian businesses as the current lockdown is extended another week for Melbourne businesses. Download the latest Media Release here. In that providing regional COVID testing remains negative, as of 11:59pm tomorrow night (Thursday), restrictions will be eased in Regional Victoria. Download the Restrictions Table here. Also, the…

We heralded a post-pandemic business boom in our Business Outlook for 2021 article late last year. With vaccines being rolled out, travel bubbles opening, and a more hopeful future ahead of us, now is the time for businesses to prepare to meet growing demand. Here’s what you should be planning for: 1.    Getting the right…

Eligible employers are now able to apply to access wage subsidies to help with costs for taking on new and eligible employees, funded by Jobs Victoria. The wage subsidy amount available depends on each employee and whether the job is full-time (up to $20,000) or part-time (up to $10,000). Eligible employees must be from one…