Post Type: Article

Cash is the life blood of any business. In fact, even profitable businesses can and do fail because of poor cashflow. What’s important is that you understand your key drivers of cashflow. Improving cashflow is often all about changing your business’s processes, for example, how you order stock and pay for it, how you bill…

Did you know that you still have to pay tax on your debtors, even if you haven’t yet collected them? This is because you pay tax on your sales figures, whether you’ve collected the cash or not. So, how do you collect your debtors faster? Don’t procrastinate on your debtors. Establish clear payment terms and…

The impact of COVID-19 has shown us that even profitable businesses can go broke if they run out of cash. Understanding and managing your cash conversion cycle frees up your cash and helps you build a cash war chest to get you through tougher times. Your cash conversion cycle is the number of days your…

Many Australian business owners have engaged in little to no exit planning. This is true even for owners with most of their assets tied up in the business. Unfortunately, this is a recipe for disaster when it comes time for you to leave the company – whether that’s due to retirement, an accident or illness,…

Do you understand the difference between profit and cash? Are you improving your profits but not seeing an improvement in your bank balance? We can help you increase both your profit and your cash! There’s a massive difference between profit and cash. Let’s explore the differences to make a better plan to increase both. 1.…

One question we’re often asked is how businesses can leverage strategic planning to achieve their key overarching strategic outcome. Read on to find out how you can use your overarching strategy to succeed:  Strategic Planning for Business vs Business Planning Business plans are often confused with strategic plans. In fact, these terms are sometimes used…

Stop wasting time on things that don’t matter.  Business leaders can use the Pareto Principle to drive focus, improve productivity, and change how they do business for the better. In this post, we discuss the 80/20 rule and outline how you can use it to stop wasting time on things that don’t matter. What is…

With the advent of the internet and cloud-based solutions, many in the financial services and accounting industries suggest that the distance between them and the client is irrelevant. While this is true to some degree, you may ask yourself, what are the benefits of working with a tax accountant near me? Benefits of Working With…

There will always be tax payable when selling a business. But there are legal ways to minimise or defer the taxes from the sale. The best way to achieve the best financial outcome from the sale of a business is to speak with your tax professional as early as possible in the process. Read on…

Superannuation is one of the most significant assets many Australians have. Yet, we see many individuals (including business owners) who see superannuation as a compliance requirement – instead of the enormous opportunity it represents. Find out how to make the most of the superannuation contribution benefits and opportunities in this blog post. Voluntary Superannuation Contribution…

The way you structure the sale of your business matters. Selling your business as a going concern, for example, can come with significant tax benefits since GST is not usually payable on the sale of a going concern. In this article, we’ll outline what you need to consider before selling your business to take advantage…

Your company’s early hires have the potential to shape your business. They can improve operational capacity and efficiency while freeing you to focus on the work that builds value. So, while the hiring process can be difficult and daunting, it is also necessary to grow your business. In this blog post, we’ll answer some frequently…