COVID-19 Business Update – 20 January 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Australian Consumer Confidence Clouded by COVID-19 in January Survey The Westpac-Melbourne Institute index of consumer sentiment released today fell 4.5% in January, from December, when it rose 4.1%. This is due to new outbreaks of COVID-19 in Sydney and Brisbane, though the spread has now been contained with relatively…  Read more

5 Ways to Save Money for your Business

Looking for simple ways to cut costs? These tips will help you make a noticeable difference to your bottom line. 1. Reduce staff costs Without a doubt, having someone to help deal with routine tasks can greatly improve productivity. The rub is that hired help is often too expensive for small business owners. Internships can be a real win-win: a student gets hands-on experience assisting you with marketing, accounting or…  Read more

COVID-19 Business Update – 13 January 2021

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Queensland Orders Hundreds to Restart Quarantine After a cluster of the new COVID variant was discovered at the Grand Chancellor quarantine hotel, all those in the hotel will have to restart their quarantine period. According to Queensland premier Annastacia Palaszczuk, the remaining 129 guests are going to be moved…  Read more

Improving your business with better time management

When things are hectic, most small business owners wish they could find a way to get more than 24 hours into a day. Often, your ‘to-do’ list can get so long that you feel you never get to put as much attention into every task as you would like. It can also mean more time in the office or dealing with work issues after-hours – cutting into your free time…  Read more

COVID-19 Business Update – 6 January 2021

Happy New Year! We hope you had a relaxing holiday break and are raring to go in 2021. Our first weekly digest of the new year includes the latest updates and ideas to help us all move forward. South Australia Keeps NSW Border Shut South Australia has a hard border closure in place with New South Wales with no one from that state allowed to enter unless they are a…  Read more

How cash flow forecasts can help you

Managing cash flow is a vital part of running a successful business. Some business owners think managing cash flow simply means keeping track of how much money enters and leaves their business, but there’s actually more that goes into it. Cash flow forecasting, for example, is an incredibly valuable tool that helps you anticipate cash flow issues, plan for days when your cash flow is limited, and show the bank…  Read more

Ideas for business goals this year

The start of the year is the perfect time to dust off last year’s business plan and set some new goals for the future. While some entrepreneurs love planning, others feel overwhelmed by the process. How do you decide on just a handful of goals that take priority, with so many moving parts that make up a business? These tips can help you get started brainstorming how your company can…  Read more

COVID-19 Business Update – 23 December 2020

Thank you for your amazing support during this incredibly busy and challenging year. We hope you and your loved ones enjoy a safe and healthy festive season. We look forward to working with you next year! As usual, here are the latest updates and some ideas to help us all move forward. November Retail Sales Surge Preliminary data showed Australian retail sales jumped 7% in November from the month before,…  Read more

Planning the year ahead

The turn of the year usually prompts most people to think about some business planning for the year ahead. Here are some tips to make the planning more productive. Get your team involved Business planning works best when it’s a team effort. Involve your key staff and your advisors, such as your accountant, your mentor (if you have one), and others who can contribute meaningfully to the planning, such as…  Read more

COVID-19 Business Update – 16 December 2020

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. State-by-State Guide to COVID-19 Restrictions Ahead of Holidays As Australia plans to reopen in time for Christmas and the New Year, authorities are reminding people to follow the COVID-19 restrictions that remain in place. Over the…  Read more

The worst business advice to follow

When you’re a small business owner, you get used to people giving you advice. Sometimes you seek out their insights while other times they share whether you want them to or not. While the advice is almost always well-intended, it’s not always good. In fact, sometimes it’s downright awful. Here are some tips that well-meaning people give to small business owners that definitely should not be followed. 1. Never turn…  Read more

Update your business plan for a new year

As another year winds down, it’s a good time to reflect on your recent business successes – and consider what you’d like to achieve in the coming twelve to fifteen months. These tips can help you with the process of making plans to help guide your business to greater success. Set priorities Entrepreneurs are typically highly creative and optimistic; as a result, they often have difficulty narrowing down their ideas…  Read more

COVID-19 Business Update – 10 December 2020

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 Bounces Out of Recession As Economy Grows 3.3% Australia’s economy grew by 3.3% in the third quarter as it rebounded from its first recession in nearly 30 years. This rebound in Q3 GDP reversed around…  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

COVID-19 Business Update – 2 December 2020

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. South Australia Now Open to Victoria Since 12.01am on Tuesday, the border with Victoria has been reopened, allowing travel between the two states. Victorians entering South Australia are still required to fill in an online permit…  Read more

7 Practical Tips to Trim Your Overhead Expenses

Every small business owner knows how challenging it is to cut down expenses without somehow compromising internal or external quality. Regardless of the nature of your business, the first step to reducing your overhead costs is to take the time to go through every single expense you have. Next, assess which ones are necessary for your business to operate smoothly, what can be trimmed down, and what can be eliminated…  Read more

COVID-19 Business Update – 25 November 2020

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 Opens Up More Borders in Domestic Travel Australia will lift more internal state border restrictions in a boost for tourism as new COVID-19 cases slow to a trickle, while the first vaccines could be available…  Read more

Using KPIs to monitor and improve the performance of your family business

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

COVID-19 Business Update – 18 November 2020

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

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

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