Profit vs cash

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. Sales. Profit increases when you increase sales; cash increases when you collect the money from…  Read more

Building a Better Business in 10 Steps

What are you doing to build yourself a more successful business? There’s no magic bullet, it’s about taking small steps every day to get a bit better than the day before – it all adds up. You’re in business, congratulations, that takes courage and commitment. It’s not easy, and at times you might find yourself questioning why you’re even doing it, but you’re here because you had a vision. You…  Read more

Are you a slave to your business?

Your business is there to serve you; not the other way around. In other words; you should never be a slave to your business. Being a slave implies a victim mentality – that the world has simply dealt you a bad hand, that you have no say in the matter. Perhaps you hear yourself thinking you’re a slave to your business because your clients need you, or your team can’t…  Read more

Are you playing in the growth game?

Business growth doesn’t need to mean more risk, more hours and more headaches. To be successful, start by identifying the opportunities for growth in your business and industry. Then you and your team can take the first step to achieving it. What’s your business growth looking like and where were you 12 months ago compared to today? If you haven’t given it much thought it is probably because you’re always…  Read more

Is your business eligible for a $30k asset write-off

The Federal Government boosted the threshold on the Instant Asset Write-off Scheme earlier this year in a move designed to stimulate growth for small and medium-sized business. The program is for businesses with an annual turnover of up to $50 million (up from $10 million previously), and it can be used multiple times for multiple assets. The scheme also allows business owners to immediately write off depreciable assets that cost…  Read more

How to give your SME a health check

The beginning of a new financial year is a great time to perform a health check on your small business to identify any problems and ensure all of your systems and procedures are working optimally.  However, if you still have this on your “to do” list, now is a good a time as any to get it done! The costs of not doing such health check can be high. There…  Read more

Setting goals and measuring performance

Want to get in control of your business performance? We’ll work with you to set your strategic targets, track the right numbers and monitor the important KPIs.  Goals are what drive the long-term performance of your business. Agreeing on clear targets, and measuring your progress over time via key performance indicators (KPIs), helps you to understand exactly where the business is going. But how does this kind of performance management…  Read more

Getting your business idea off the ground

You may have a killer startup idea, but do you know WHY you’re going into business? We’ll work with you to define your vision and get your business idea off the ground. A great idea is the starting point for any business – and these ‘lightbulb moments’ drive the ambition and entrepreneurial spirit of the start-up community. But before you bring your idea to market, you need to know WHY…  Read more

You need a plan for your business!

Starting a new business? Then you need a plan! Outline your vision, set goals, define funding and budget, forecast sales and cashflow, set timelines. Talk to us to create a watertight business plan.  ‘Fail to plan, plan to fail’, as the saying goes. If you’re going to create an effective, successful and profitable business, you need to create a solid strategic plan Your business plan is the route map that…  Read more

Access to finance and funding your growth

Looking to fund the next stage in your growth? We’ll help you kick your financials into shape and get access to the right finance for your business.  You might have self-funded the early days of your business, but to expand, grow and scale you need access to the right level of outside funding. But how can you access this finance, and how do you impress your potential private investors and…  Read more

4 ways to get in control of cashflow

Does your business need to improve its cash position? Poor cashflow is a problem for many businesses, whether you’re a start-up or an established family business. Talk to us about how you can get proactive with cashflow management. It’s a well-worn phrase, but cashflow really is the lifeblood of your business. When your cash inflows are greater than your cash outflows, that puts you in a positive cashflow position –…  Read more

Set your business up for success with the right structure

Before you start a new business it’s essential to make sure you’re choosing the right structure for the long term. The business structure you choose can have big implications down the track, so it’s best to set up for success from the beginning. The structure of your new business has repercussions in terms of tax, costs and the protection of your assets. When you decide on what structure you’ll use,…  Read more

Teaching kids about money

Every parent or grandparent has the same worry: will our young ones manage their money properly when they grow up? Australians’ median wealth is the highest in the world. So, a young Australian can look forward to having access to more material resources than their counterparts in every other country. If they can manage this money well, their life will be much easier. Here are our top 7 tips to…  Read more

What is a Defensive Asset?

As we wrote last week, investment assets are usually divided into one of two types: growth or defensive. Last week we discussed growth investments. This week, let’s look at the other kind. As the name suggests, defensive investments are used to preserve existing wealth. The aim isn’t to make money so much as to not lose it. Whereas property and share investments form the bulk of the growth investment class,…  Read more

What is a Growth Investment?

You have probably heard the terms ‘growth investments’ and ‘defensive investments’. What do they mean, exactly? All investments are divided into one or the other of these two categories. A growth investment is one that is expected to grow in value over time. People purchase growth investments in the hope that doing so will increase their wealth in the medium to long-term. Common types of growth investment include shares and…  Read more

When to review or update a Will

Many clients complete a Will and then fail to revisit it for years, and it is concerning that some never do. However, an estate plan is not static; it cannot be set and then forgotten about. It is not difficult, or necessarily expensive to change a Will – it can be amended, modified, updated or even revoked at any time which we will see in the scenarios below. For example,…  Read more

All you need to know about single touch payroll

Single touch payroll regulations may require you to make some changes. Automation or outsourcing will make compliance less of a time burden for your business. We can help.  Single touch payroll (STP) is a new regulation that changes when and how small businesses report payroll activity to the Australian Tax Office (ATO). Businesses used to report this information to the ATO once a year. Now, they need to send a…  Read more

End of Financial Year Checklist

There are just a few more sleeps before the end of the financial year. We know, financial advisers are the only people who get excited about that. But you should too. So, while there’s not a lot of time, there is some time. Here is our to-do list of essential items to tick off before June 30. Many of these things have bits that need to be ticked off. So, we encourage…  Read more

Buy the robots!

This week, we would like to introduce some basic investment theory. We promise it will be useful! We all generate our income by contributing to the production of goods and services. There are four ‘factors of production’ that combine together to produce economic output. These factors are land, labour, capital and enterprise. Land and labour are pretty simple concepts. If a business needs space, then it will buy or rent…  Read more

Co-Contributions. You can get something for nothing!

If you have a spare $1000, you might consider making an extra contribution to your super fund. If your income is otherwise low, the Commonwealth government will give you up to an extra $500. This policy, which has been around for a long time, encourages people with low incomes to save for their own retirement. The most efficient way to save for retirement is to use superannuation. But putting extra…  Read more

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