James from Ballarat asks about stage three tax cuts. He earns around $90,000 annually and wants to know how it will affect him. In response, we explain that under the proposed Labor changes, he’ll initially be about $800 better off. However, as his income grows over time, surpassing $120,000, he’ll start paying a higher tax…

Discover how optimising your gross profit margins can positively influence cashflow and bolster financial stability for your business. Uncover actionable tactics to elevate profitability and maximise returns on sales. Understanding Gross Profit Margins Your gross profit margin represents the residual amount from total sales revenue after deducting variable costs. Calculate your gross profit margin to…

Recent news highlights the prosecution of self-managed super fund promoters by ASIC, marking a crucial step in safeguarding unsophisticated investors from fraudulent schemes. These promoters targeted individuals unaware of their deceptive practices, promising lucrative returns while misappropriating funds for personal gain. In one case, investors lost a staggering $25 million to a cryptocurrency investment scam,…

In recent news, there’s been significant discussion surrounding the stage three tax cuts, particularly with the Labor government’s decision to modify them. Originally intended to address bracket creep for individuals earning up to $200,000, these tax cuts were agreed upon by both sides. However, the proposed adjustments by the Labor government aim to allocate these…

Explore how assessing your debt and capital structure can lead to reduced interest charges and significant cashflow improvements for your business. Discover actionable strategies to consolidate debt, optimise capital injections, and manage personal expenses to alleviate cashflow pressure. Debt Assessment Begin by compiling a comprehensive list of existing debts, including bank loans, mortgages, finance company…

Learn how optimising your inventory turnover can alleviate cashflow challenges and enhance financial stability for your business. Explore actionable strategies to convert stock into cash faster and improve overall profitability. Learn why inventory turnover is important here. Understanding Inventory Turnover Calculate your inventory turnover by dividing your cost of sales by your average inventory or…

Explore how your accounts payable process can impact cashflow and financial stability for your business. Learn about the importance of reviewing Terms of Trade and implementing spending budgets to manage cash outflows effectively. Spending Budgets Establish yearly budgets to regulate spending and ensure alignment with financial goals. Control spending by monitoring department budgets and authorisations…

When it comes to business, profit and cash flow are not one and the same. While profit reflects the revenue generated from your work or sales, cashflow is the actual money flowing in and out of your bank account. One of the primary culprits of poor cashflow is what we call “cash lockup.” Cash lockup…

Ewen shares an update on the self storage industry’s trends over the past 12 months, including lower occupancy rates and increased revenue, as well as his predictions for the next year in this brief video. If you’re looking to prepare your self storage business for the upcoming year, don’t hesitate to reach out – Ewen…

Maintaining a full “well of happiness” is not just a luxury; it’s a crucial aspect of sustainable business success. Similar to the airline safety instruction to secure your oxygen mask before assisting others, you must prioritise your well-being continuously in business. Consider the activities that replenish your well-being – those that revive your energy and…

Just as you keep a close eye on your dashboard while driving, your business should have its own set of essential metrics to regularly monitor business progress. Creating a business dashboard involves a simple four-step process: Choose Impactful Key Performance Indicators (KPIs) Identify three to five KPIs that hold significant influence over your goal achievement.…

Referrals are a powerful means of securing new business, and one effective way to generate them is by building strong networks. Networking and referrals offer a cost-effective strategy for business growth, with a potentially significant return on investment. Here are five ways to maximise referrals from your networks: Calculate the Lifetime Value of a New…