Westwoods BGA, Author at Westwoods BGA Accountants & Business Advisors

How to track job and project profitability more effectively

Posted on 30/12/2025 (02/12/2025)

For service-based and project-driven businesses, success isn’t just about landing work, it’s about making each job profitable. Too often, business owners don’t know how much profit (or loss) they made on a job until long after it’s completed. Tracking job or project profitability more effectively helps you price better, schedule more realistically, and improve margins […]

Metrics to measure business progress

Posted on 23/12/2025 (02/12/2025)

Here are 5 important metrics to pay attention to when it comes to the success of your business, including ways you can improve them. 1. Gross margin Gross margin is the difference between what you pay for a product and what you sell it for. Increasing your prices. If it’s small enough, it may not […]

Competing and pricing confidently in a cost-pressured market

Posted on 16/12/2025 (02/12/2025)

Rising costs, tighter budgets, and more price-sensitive customers are challenging every business. When material, people and supply chain expenses keep climbing, and customers hesitate to pay more, the solution isn’t to slash prices. It’s to compete on value, not cost. The goal is to protect profit while strengthening customer trust. Start by understanding your true […]

What to do if you have a cash crisis

Posted on 09/12/2025 (02/12/2025)

Dealing with a sudden cash flow crisis, even if you’re working hard to avoid shortfalls, is hugely distracting. A formerly reliable customer might take much longer to pay than anticipated or a large consignment might fail to show up, leaving you out of pocket. If you’re starting a business, it could simply be taking longer […]

A guide for effective cash flow management

Posted on 02/12/2025 (02/12/2025)

An up-to-date business cash flow forecast can help you manage your business more efficiently. It’s an estimate of the amount of money you expect to flow in and out of your business. It includes all your projected income and expenses and usually covers the next year, though it can also cover a shorter period such […]

Deciding when to raise your prices

Posted on 24/11/2025 (02/12/2025)

Raising prices can feel risky. You may worry about losing loyal customers or damaging your reputation. But if your costs are rising, your services are expanding, or your margins are too tight, a price increase isn’t just a good idea, it’s essential for long-term sustainability. Recognise the right time to raise prices There are clear […]

Pricing mistakes that cost your business more than you think

Posted on 17/11/2025 (02/12/2025)

Pricing can make or break a business. Yet for many small business owners, setting the right price is more guesswork than strategy. Whether you’re undercharging, reacting to competitors, or failing to review prices regularly, common pricing mistakes can quietly erode your profits and stall your growth. Underpricing to win customers It’s tempting to keep prices […]

Lessons learned from global disruption and looking ahead

Posted on 10/11/2025 (13/11/2025)

While it may be challenging to predict what the future holds, history shows us that economies will eventually recover from major disruptions. It’s useful to reflect on how your business can adapt to global challenges, whether they stem from economic downturns, natural disasters, or unexpected changes in the marketplace. The goal is to prepare your […]

Your social responsibility to employees

Posted on 03/11/2025 (13/11/2025)

Businesses are increasingly aware of their impact on society as much as for their products and services. How businesses treat their employees directly influences public perception and attractiveness to skilled workers. By acknowledging your social responsibility to your employees you’ll have a more engaged and productive workforce. You’ll also have an easier time attracting and […]

Tips to improve your profit margin

Posted on 27/10/2025 (13/11/2025)

Increasing sales might make more profit for your business but consider increasing profit margins, especially if there is limited opportunity to increase sales. Growing your business can be achieved by building profit rather than sales. Focus on larger margins Concentrate on the products or services you sell that have the biggest margins. By selling more […]

From chaos to clarity – choosing the perfect job management system

Posted on 20/10/2025 (13/11/2025)

Running a business comes with countless moving parts. From managing projects and keeping the team on the same page to ensuring profitability, it can feel overwhelming. That’s where a job management system comes in—a single tool that can help streamline your operations, reduce errors, and boost overall efficiency. But how do you know if a […]

Driving sales and revenue

Posted on 13/10/2025 (13/11/2025)

Improving sales and revenue can resolve many business challenges. When more money comes in than goes out, your business stays solvent, giving you time to implement further improvements. Here are some actionable strategies to increase your revenue and drive growth. Sell to existing customers One of the most cost-effective ways to increase revenue is to […]

How to retain your best employees

Posted on 06/10/2025 (13/11/2025)

Employees are the face of your brand, guardians of your intellectual property and ideas, and the biggest driver of business growth. Not only is employee turnover disruptive, stressful and time-consuming, it’s also incredibly expensive. When an employee leaves your business, you’re left out of pocket until you hire and train someone else. There can also […]

Improving break-even

Posted on 29/09/2025 (23/08/2025)

If you need to sell more items than expected to reach your break-even point, there are several steps you can take to lower that point. Step 1: Develop premium products and services If you can increase the average value of each sale, you’ll widen the difference between the sale price and labour and materials. Developing […]

Restructuring if cash stressed

Posted on 22/09/2025 (23/08/2025)

Restructuring your business can feel like a daunting task, but in times of economic uncertainty or shifting markets, it can be the key to long-term success. The idea is to focus on what works and making tough decisions about what doesn’t. It’s how you can build a stronger, more agile business. Here’s how to approach […]

Stay alert from ATO scams

Posted on 15/09/2025 (23/08/2025)

Criminals are impersonating the ATO to steal identities, access bank accounts, and defraud Australians, often using highly convincing emails, SMS messages, and phone calls. There has been a dramatic increase in phishing scams that pretend to be from the ATO. These scams take advantage of the busy tax season to catch people off guard. Whether […]

Impact of discounting

Posted on 08/09/2025 (23/08/2025)

Be wary of discounting on a regular basis to gain sales. It can be a sound strategy if you are aiming to find new customers and sell loss leaders, or you have a cost or price advantage. Discounting can also work in certain circumstances, for example, selling off old stock or to release working capital […]

ATO tax debt to become more expensive from July 2025

Posted on 01/09/2025 (23/08/2025)

If you currently owe money to the ATO, it’s about to get more costly. From 1 July 2025, the two most common interest charges the ATO applies to late or underpaid tax will no longer be tax deductible. That means both individuals and businesses will soon face a higher real cost of holding tax debt. […]

Finding spare cash in your business

Posted on 25/08/2025 (21/07/2025)

Many businesses encounter cash flow difficulties every year, particularly during growth phases when expenses often rise faster than revenue. There’s a need for effective cash flow management and securing additional funding during challenging times. Start with a cash flow forecast A detailed cash flow forecast can help you pinpoint when you might run out of […]

Protecting your business online

Posted on 18/08/2025 (21/07/2025)

Whether you handle online payments, store customer data, operate remote teams, or rely on SaaS platforms to run your company, you’re exposed. From stolen credentials to ransomware, cybercrime can disrupt your business, cost you real money, and damage your reputation. It’s important to pay attention to anything the seems out of the ordinary, such as: […]

Author: Westwoods BGA

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