Useful information and business resources on COVID-19

The last few weeks have been absolutely crazy. We’ve seen toilet paper shortages, businesses being forced to close, and an overload of information (and misinformation on social media). With the recent disruption in mind, we wanted to help support you however we can. We’ve seen a number of our clients already impacted by the virus and decided to put together some COVID-19 Resources to help you out. We’re always watching…  Read more

An Important Announcement – Office Closure

Our office is closed but we’re still here to help Like you, we’re watching the evolving situation with COVID -19 closely – grappling with both the human and health implications, and the associated financial and economic impacts it presents for people and businesses across the globe. As always, our key priority is the safety of our team members, clients, and our direct community. We want to assure you that we…  Read more

Is it the right time to take out a business loan?

In the lean, early years of running a business – that crucial time when most startups need capital – qualifying for a loan can be difficult. Step one is to build a solid credit rating, so a lender feels confident your company isn’t a high risk for repayment and can say “yes” to your application. Once you’ve established a positive credit score, the perfect time to take out a business…  Read more

Second Stimulus Package to combat COVID-19

The Federal Government has announced a second stimulus package as the initial package offered was not sufficient enough to target all the various types of Small Businesses in Australia. Sole Traders were inadvertently ignored – but this has now been addressed. Prime Minister Scott Morrison announced further assistance to support Businesses and Jobs for Australia. The package announced is estimated to be worth approximately $66 Billion and can be summarised…  Read more

Tips to Keep Your Business Finances in Order

If you’re like most small business owners, you spend the majority of your time managing daily operations, keeping customers happy, and looking for new ways to grow. Spreadsheets, cash flow analysis, and financial projections are probably not your first passion. However, measuring profitability, creating realistic budgets, and planning ahead for the future are crucial to your professional success. Follow these four tips to get a handle on the numbers, and…  Read more

COVID-19 Business Continuity Plan

I’m sure you are all concerned about the health and wellbeing of your loved ones during this current COVID-19 crisis. We as Australians need to all work together to get through this difficult period. At Westwoods BGA we have been working night and day, to keep all our business clients as up to date and informed as possible about all the Government stimulus packages available to support Australian Business owners.…  Read more

An update on Westwoods BGA’s response to COVID-19

Whether it’s on social media or the TV and radio, coronavirus or COVID-19 is a topic we simply can’t escape. As much as we would like to try and ignore it, we can’t, and it is having a major effect on people and businesses in Australia. We have already seen the panic buying around Australia, and as we enter a scenario of potential social isolation, we face the reality of…  Read more

How to choose a financial planner

No matter how much money you currently have in the bank, it’s a good idea to consult with a financial planner sooner than later. There’s no better way to start mapping out strategies for investing – and saving – so you can meet your short and long term financial goals. Financial planners are there to help you save time and money as you prepare to buy a house or commercial…  Read more

Finding money within your business

Most small businesses experience cash flow problems from time to time and urgently need working capital. Many business owners immediately think of the bank or loans when they’re short of money. But there are other resources you can tap before you ask for that expensive overdraft or overdraft extension. The money you need might already be there—locked up in inventory, assets or your debtors’ book. You can often free up…  Read more

Eight Characteristics of successful small businesses

We now look at eight characteristics important to successful businesses. International researchers who have studied many small businesses have found that these characteristics consistently play a part in the success of small companies. The eight characteristics are: Owners leading by Example Having a simple business structure Information sharing among employees Staff are carefully chosen Staff commitment and loyalty A unique product or service A specific Customer focus Prompt follow up…  Read more

Email: The productivity killer

Remember when email was new and novel, and everyone thought it would vastly improve communication while freeing up time? It did improve communication on some levels and freed up employee time at first. Now, however, email has become a productivity killer. Workers have to wade through hundreds of emails in their inbox each day, and many people choose to deal with email as it comes in rather than all at…  Read more

Two important reasons to have an up-to-date will

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

Getting the work–life balance right

As a small business owner it’s hard to juggle your work and outside responsibilities. It’s important to run your business effectively and still have a life outside the office. You need a good balance between work and play for your health and well-being. Small business owners often fall into the trap of working too hard, ending up exhausted from the constant work demands associated with self-employment. Why you need balance…  Read more

17 ways to get repeat business

Q. I am finding it tough. Sales are slowing but I can’t figure out exactly why. No-one seems to be unhappy with what we do, and no competitor has entered the market.  People seem to be buying less often and in lower numbers. Your existing customers are your most valuable asset. This is because it’s easier and far less expensive to get an existing customer to buy off you again…  Read more

Should you lease or buy equipment?

Many small business people wonder whether it’s better for them to buy or lease capital equipment for their businesses. Your options regarding leasing or buying depend upon the nature of your particular business, but there are nevertheless a few guidelines you can follow to help you decide what you should do. If you have the money available, and the item is really necessary to your business, then it will usually…  Read more

7 Ways to Improve Workplace Productivity

The success of any business, large or small, depends largely on nurturing an efficient, productive workplace. While improving employee productivity should be always be a priority when the ultimate goal is a sustainable and profitable business, the process is easier said than done. Below are some of the most effective methods of managing a productive, happy workplace while increasing output. Establish Accountability Productivity depends on every employee understanding that the…  Read more

How to Attract and Retain Top Talent

The best companies attract and retain top talent. Finding the best people takes time, but it is an investment that can save you money over the long haul. The more effort you put into finding the right people, the less likely that they will move on when another opportunity arises. Here are some strategies for attracting and retaining top talent. Give Yourself Time A senior manager has quit, leaving a…  Read more

Happy Holidays + Christmas closedown notice

We’re wishing all our valued clients, friends and colleagues a Merry Christmas and a Happy New Year from all of us at Westwoods BGA! Thank you for all your support again this year and hope 2020 is an amazing year ahead. Christmas Closedown We’ll be closed from 5pm Thursday 19th December and will reopen on Monday 6th January at 9am. If you’d like to chat to us about your business…  Read more

It’s official – we have a new website!

Our brand new site is now live! Welcome to our new website! We’re really excited to launch this site and we hope you like the fresh look. After a few months of planning and editing, we are really proud to reveal the results. The site features a crisp, new look, a showcase of our team and some of our videos…so it’s safe to say we’ve improved the design all round.…  Read more

6 Essential Accounting Terms for Small Businesses

Hiring an accountant is widely considered best practice for small business owners.  But delegating financial analysis and reporting doesn’t mean completely checking out of the process each month or quarter. On the contrary, it’s recommended that business owners work closely with their accountants throughout the year to better understand their financial position, and make smart plans for future growth. Want to increase your accounting knowledge so you can have more…  Read more

Want to grow your business? Our Free Resources will Help