4 Payment Options Your Small Business Should Consider

When customers make a buying decision, they’re not just considering the quality and price of your products or services, they’re also evaluating the ease and convenience of the whole buying process. As a business owner, you should offer different payment options to provide the best customer experience and to ensure you receive timely payments Here are four ways your small business can accept payments in 2020: 1. Credit and debit…  Read more

COVID-19 Business Update – 21 October 2020

Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Lately, economists have been talking about a “K-shaped” recovery from the current recession. As this article in The Conversation explains, this kind of recovery happens when different parts of the economy recover at different rates. White-collar workers who can more easily work remotely may have an easier and faster path to recovery than…  Read more

COVID-19 Business Update – 14 October 2020

Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s update. Proposed Superannuation Reform Measures The Government has announced that it will spend $159.6 million over the next four years to implement a number of reforms to the superannuation system that will save fund members $18 billion in fees and other costs between now and 2030. The key…  Read more

Five Simple Marketing and Promotion Tips to help during COVID-19

In these difficult times, you may find your business slowing down and sales harder to come by. Given this trend, establishing and maintaining connections with existing and potential customers have become more important than ever. So here are some simple tips to help you step up your marketing game: 1. Strengthen your social media presence. With the extended lockdowns and social distancing rules in place, it is the perfect time…  Read more

COVID-19 Business Update – 7 October 2020

Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s update. Federal Budget 2020 Released The Federal Budget was released earlier this week. Here’s a quick rundown of the key points: This budget is based on economic assumptions including that there will be a COVID-19 vaccine rolled out by the end of 2021. Asset write off – businesses…  Read more

Federal Budget 2020: What it means for you

The Federal Budget was released on Tuesday 6th October. This article has a good summary of the “Winners and Losers” of the Budget. You’ll also find a recap of the key points below. Key Points: This budget is based on economic assumptions including that there will be a COVID-19 vaccine rolled out by the end of 2021. Tax cuts for workers – more money in pockets for more Australians. JobMaker…  Read more

Major Change to Bankruptcy Laws: What Does This Mean For Your Business?

It has been extremely difficult for many to keep their businesses afloat amid the COVID-19 crisis. Throwing a lifeline to small businesses, the government has overhauled bankruptcy laws to save thousands of jobs and companies on the verge of collapse. What Are The Changes? From the current ‘creditor-in-possession’ regime, Australia’s insolvency laws shifted to a ‘debtor-in-possession system’. Entities with liabilities below $1 million will be able to access the scheme.…  Read more

COVID-19 Business Update – 30 September 2020

Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s update. $800m Digital Business Plan to Drive Economic Recovery The Australian Government has announced a Digital Business plan to enable businesses to take advantage of digital technologies to grow their businesses and create jobs in the wake of COVID-19. PM Scott Morrison and Treasurer Josh Frydenberg announced the…  Read more

Why You Need a COVID-19 Financial Plan?

Countries in recession, unemployment rates rising, multiple economic indicators at their all-time lows, increased market volatility– these are just some of the economic impacts we’re seeing as a result of the pandemic. As we continue to battle the COVID-19 crisis, it is important for everyone, especially those who have had their income stream affected, to keep their finances in check and proactively find ways to navigate to recovery. By creating…  Read more

Supporting Apprentices and Trainees wage subsidy extended

The Australian Government has extended and expanded the Supporting Apprentices and Trainees wage subsidy, to include medium-sized businesses who had an eligible apprentice in place on 1 July 2020. This may be of particular interest to employers who are not eligible for the JobKeeper extension. What is the Supporting Apprentices and Trainees wage subsidy? The Supporting Apprentices and Trainees wage subsidy is part of the Australian Government’s COVID-19 Economic Response.…  Read more

Five Ways to Bring in More Cash for Your Business

Now is the perfect time to evaluate your financial position and come up with innovative ways to add revenue streams and generate cash. Here are five ways you might consider to improve your cash inflow: 1. Evaluate your current company assets. Take a look at your assets, both fixed and human. Could you make slight pivots to create a new form of income? For instance, if you run a coffee…  Read more

How to grow your network without networking events

Networking can be a key way to keep your business growing. Regardless of your industry or business size, it is hard to ignore the benefits of forming professional networks for potential partnerships, expanding your client base, and scaling up. However, while we are all constantly reminded about the importance of networking, reaching out to grow your network isn’t the same now thanks to the COVID-19 pandemic. Social restrictions to prevent…  Read more

Preparing for the end of JobKeeper

Since the government announced the $70-billion JobKeeper program to support businesses and their employees during the COVID-19 pandemic, many small- and medium-sized businesses and non-profit organisations heavily relied on this scheme to stay afloat. According to a recent survey by the Australian Institute of Company Directors on the impact of COVID-19, over 40% of the respondents reported reliance on JobKeeper payments. 47% of SMEs indicated that the JobKeeper Scheme had…  Read more

Finding money within your business

You can often free up funds from within your business by re-examining your business systems, and these funds might in themselves be sufficient for your immediate needs. Good management Even if the funds you free up from within your business are not sufficient, there is another payoff: the effort you make in searching for them helps to ensure that you are running your business in an efficient manner. To free…  Read more

Does “mindfulness” have a place in business?

According to Google, which offers employees a course on mindfulness meditation, and Lululemon, a company that keeps a Director of Mindfulness on staff, the answer is a resounding yes. Mindfulness, as American scientist Jon Kabat-Zinn defines it, is simply “paying attention in a sustained and particular way – on purpose, in the present moment and non-judgmentally.” Research has shown that practicing mindful meditation can lead to reduced stress, lowered blood…  Read more

Using KPIs to monitor and improve business performance

The key performance indicators (KPIs) for one company will invariably be different from the KPIs of another firm.  What both hypothetical companies share however, is the challenge of selecting which KPIs are best suited for measuring the goals and progress of their particular business model. Indeed, entrepreneurs have a vast array of reports and data sets from which to choose and select from, but that data needs to target those…  Read more

Five Undesirable Customer Types

Every businessperson knows that not all customers are created equal. Some customers are loyal, while others will stray if they’re offered a slightly lower price elsewhere. Some clients are demanding, while others only call when they wish to place an order. Every business must deal with a variety of customers. But there are certain types of customers who do more harm than good to your business – they drain your…  Read more

Growing your business without borrowing

Taking out a business loan may be your first plan of action for financing business growth. But there are excellent reasons to consider other options for finding capital to expand your business. For one, it can be very difficult for a small business to secure financing, especially in the early days. You’ll need to prove to a lender that you aren’t a high risk, with financial documentation that shows your…  Read more

3 Mistakes That Strangle Growing Businesses

Businesses want to grow and help a larger audience, but too many make mistakes that cripple their growth. Even worse, they keep repeating them! Don’t do the same; avoid the blunders outlined below. Hiring Toxic Personalities Businesses hire more staff as they grow. But if they expand too quickly, they will feel pressure to fill positions on their team, even if the job candidates have a few personality flaws. While…  Read more

AFR Fast Starters 2018 – Independent Reserve at #17

  Congratulations to our client Independent Reserve – The Cryptocurrency Exchange for their stunning debut on the AFR Fast Starters 2018 list at #17. Well done chaps – it’s great to see your hard work being recognised.     https://www.afr.com/leadership/afr-lists/fast-starters/financial-review-fast-starters-2018-the-full-list-20181029-h179kr https://www.independentreserve.com/news/media/independent_reserve_makes_the_afr_fast_starters_2018_list    Read more

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