Post Type: Article

Every business has a finite lifespan. Some may last for decades, while others may only last a few years. As a business owner, the life of your business is likely to be strongly aligned with your own life goals and personal plans for the future. When the time comes to sell, it’s important to know…

Imagine if you were suddenly unable to run your business tomorrow. How smoothly would things continue for your operations and those who depend on them? We share why a business succession plan is important to your overall business strategy. Securing Your Business’s Future Succession planning isn’t just about retirement. In the event of an unforeseen…

Selling your business is a significant decision, reflecting years of dedication and hard work in building its success. When the time comes to sell, boosting your business’s value and securing its future becomes critical. Five Steps to Prepare Your Business for Sale Preparing to sell a business is rarely a quick process. Most owners start…

A succession plan is about maximising the value of your business to achieve a better outcome when it’s time to exit. Many business owners don’t consider a succession plan until they are ready to sell. However, defining and executing an effective succession plan takes three to five years (minimum). That’s something to keep in mind!…

The Federal Treasurer, Dr Jim Chalmers, handed down the 2024–25 Federal Budget at 7:30 pm (AEST) on 14 May 2024. The key tax measures announced in the Budget include extending the $20,000 instant asset write-off for eligible businesses by 12 months until 30 June 2025, introducing tax incentives for hydrogen production and critical minerals production,…

Generally, an exit strategy is implemented years before the planned exit date. This gives you time to work on your sale plan, deal with any succession issues, and, crucially, add additional value to the business before a sale. Understanding Your Business’s Sale Value Every business has its unique sale value based on size, asset worth,…

Owning a business can be brilliant, but you might not want to do it forever. Whether you’re ready to retire, want to cash out, or just need a break, at some point, you will probably want to move on from your business. Even before that time comes, you’ll need a plan for stepping back. Options…

The world is evolving at an unprecedented pace. Industry changes, global trends, and environmental factors will influence the timing and strategy behind your succession plan. The Need for Change and Innovation A successful and profitable business can’t afford to stand still. Unmanaged change and disruption can erode your business’s value—consider how online shopping transformed retail.…

Succession planning involves preparing for the future transfer of ownership of your business. It ensures a smooth transition and helps minimise stress, maximising the outcome during a potentially challenging period. Read more about succession planning here. Why Succession Planning Matters Succession planning is about defining your vision for the future and the steps needed to…

With the end of the financial year upon us, it is imperative to take action to maximise tax savings for your self storage business. To help keep more money in your pocket, here are seven essential strategies to consider: 1: Bad Debts Consider writing off outstanding customer accounts that are unlikely to be collected, such…

Late payments can wreak havoc on a small business’s cashflow, causing unnecessary stress and financial strain. If you are struggling with overdue invoices, fear not! We can help you optimise your cashflow. Here are six straightforward tips to expedite payment processing and get your cash flowing smoothly: Invoice Without Delay: Don’t wait to send out…

In business, cashflow equals confidence and resilience. Take charge of your financial future with these strategies to help you manage cashflow in your business: Establish Clear Payment Terms: Set clear Terms of Trade outlining payment expectations for each customer. Ensure prompt payment by clearly defining payment deadlines and consequences for late payments, as outlined in…