Dealing with risk is an inherent aspect of business management. The way you prepare for risk is the most important factor in determining the longevity of your enterprise. Businesses of all sizes have to contest with the possibility of unexpected events occurring, but it’s how you plan for and react to such scenarios that influence your handling of them. These five methods of controlling risk will provide you with the… Read more
It takes time, energy, and continuous effort to build a brand that attracts loyal customers and is rewarded by word of mouth referrals. Without a doubt, the good name you worked so hard to earn is one of your most valuable business assets; in addition to your solid customer base and positive employee relations, it is what is known in business as “goodwill.” If you’re like many small business owners,… Read more
ATO lodgement and due dates for February and March 2025. February 2025 21 February Lodge and pay December 2024 monthly business activity statement for business clients with up to $10 million turnover who report GST monthly and lodge electronically. Lodge and pay January 2025 monthly business activity statement. 28 February Lodge and pay quarter 2, 2024–25 activity statement for all lodgement methods. Pay quarter 2, 2024–25 instalment notice (form R, S or T). Lodge the… Read more
According to recent research, a staggering two thirds of US millionaire-owned businesses are operating without a succession plan—and even fewer small business owners around the globe are prepared for their CEO’s eventual exit. No matter whether your company has one employee, a hundred or a thousand, a succession plan is essential to minimiz\se the risk of financial loss. Read on to help prepare for a stress-free transition when it’s time… Read more
On average, small business owners spend 10 hours each week recording, organizing, and processing financial transactions – everything from accounts receivable and payable, to employee payments, expense receipts and supplier invoices. While the process may be time-consuming (and tedious!), effective bookkeeping is the foundation of sound financial management – which in turn, is the lifeblood of your business. Feeling overwhelmed by mountains of paperwork and complex calculations? Here are three… Read more