Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s updates and some ideas that will help us all overcome this crisis. 6-Day Lockdown Ordered in South Australia The state of South Australia will begin a 6-day lockdown at midnight on Wednesday, with schools, universities, bars and cafes closed. Only one person from each household will be allowed… Read more
Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s updates and some ideas that will help us all overcome this crisis. No locally acquired cases for the first time since Feb! Great news this week for Victoria who recorded 12 days with no new COVID-19 cases, and the rest of the country as Australia recorded its third… Read more
Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s updates and some ideas that will help us all overcome this crisis. Victoria Reports No COVID-19 Cases For Fifth Straight Day Victoria, Australia’s coronavirus hotspot, reported zero COVID-19 cases for the fifth straight day as states started easing regional border restrictions. This increases the prospects for a faster… Read more
Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s updates and some ideas that will help us all overcome this crisis. Australia Starts Fourth Quarter on Stronger Economic Footing Flash Australia PMI signals faster output growth in October as COVID-19 restrictions loosen. The IHS Markit Flash Australia Composite PMI, covering both manufacturing and service sectors, increased from… Read more
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
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
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
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
Welcome to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s update. Package for Victorian Businesses The Victorian government is investing $3 billion in cash grants, tax relief, and cashflow support to aid businesses hit by the tight restrictions and help them prepare for COVID Normal. The types of support included in this package are divided into three categories: Business… Read more
No one really likes talking about their death, which makes updating—or even writing—a will an unpleasant experience. Often, people put off thinking about their will for another day, assuming they have a lot of time to deal with it. Having an updated will, though, is vital for ensuring your wishes are followed after you die. It makes the process of sorting through your life much easier and less stressful for… Read more
Keeping track of sales, earnings, expenses, and purchases is fundamental to the overall health and sustainability of your business. Effective bookkeeping produces the data you need to evaluate your current practices, anticipate challenges, and set attainable future goals. But despite their proven importance, many business owners dread and avoid accounting tasks. In fact, 40% of surveyed entrepreneurs claim that bookkeeping is one the worst parts of running a business! Wondering if it’s… Read more
Most small business owners who use accounting software quickly master the basics. They automate processes like invoicing and payroll, track expenses and view real time financial reports to manage cash flow and make better business decisions. But what many business owners don’t take advantage of are key insights that can improve customer care and increase sales. Here are some smart ways you can use your accounting software to help boost… Read more
Your balance sheet (now more correctly called a Statement of Financial Position) reveals a great deal about your business, including the total value of your assets – the things you own; how much you owe to others – your liabilities; and the level of your solvency. These three aspects will be studied carefully by lenders and investors − and by buyers if you intend to sell your business. But they… Read more
Inventory is the lifeblood of your business. It is the largest asset on your balance sheet and your company’s biggest revenue-generator. It goes without saying that poorly managed inventory can do serious damage to your bottom line. Businesses without clear strategies for streamlining the in and out flow of goods will have trouble meeting their customer’s demands and will see mismanaged stock corrode their profits. Follow these tips to ensure… Read more
Too many businesses fall over because the owner has not established efficient business systems. This typically happens because the business owner is so caught up in the day-to day running of the business that the fundamentals of good business management get forgotten. Often too it must be said that the owner simply doesn’t like bookkeeping or other administrative tasks, so these get put on the back burner. The symptoms are… Read more