Simple Economics and Its Application to Australian Businesses Pricing is a critical aspect of any business, yet many business owners struggle to understand its full importance. Simple economics highlights that while price plays a significant role, consumers consider... read more
In the dynamic landscape of business, it’s imperative to recognise and rectify the leaks that can hinder growth and profitability. Four key areas that demand attention are: Sales down by bad debts, Slow to reduce labor, Expenses too high and Tax bills that... read more
Is inflation under control? The Reserve Bank of Australia AND the Australian Government like to think so, and the general public also want it. But is this RBA goal achievable? The short answer is no. The politically correct one is yes. This means you need to show... read more
Pandemic has grounded people use local business and buy Australian The global economy let us down, Being from Broken Hill we were taught to buy local. Buying local means Profits are kept local This allows employment in town creates more jobs Locals are better... read more
Plan or opportunity Based on skills and knowledge be patient, they come along. Reevaluate business every 3 to 6 months make changes. Discuss accountant Action not meetings: Meeting ego driven and people don’t listen save the time. Encourage truth from Staff You want... read more
Is it a rock, mountain or speck dust. In this case its speck dust because that’s how quickly it disappear. A Golden opportunity missed on productivity that’s were money should gone to get Jobs in that sector, Cars, Submarines, Rockets and Tanks, we need Australian... read more
Job keeper ends on 31st March. It has been huge success for small business. Given it’s expected 200,000 jobs might be lost, and Bill Gates said it will be long into the year 2022 before its normal, it is too early to stop it. Sure I know we can’t afford the argument... read more
Celebrating International Women’s Day 2021 Celeste is an award winning mentor that has been a strong supporter, on getting more women back into business and work. Celeste has been working within Accountants and More for over 20 years as Director and the Operations... read more
Recent challenges faced by business include: Corona virus (loss demand) Defeat Trump (Opportunity revivals’ Wall St lost) Slow moving Morrison and Boris Johnson governments on industrial relations. (no cuts labour cost or electricity industry uncompetitive) This... read more
Wow! What a year 2020. This doesn’t automatically mean it will get better this year in 2021. But start planning now, the best tool is the “Ho Shin the principles” I was involved in Ho Shin projects years ago, and saved in excess of 150 million dollars. It’s a second... read more
It’s always been best policy to support local business, it’s got a whole lot better to support them in recovery. They create local jobs in your area and money stays in your community. Make sure you buy goods services made locally Don’t go cheap or overseas remember... read more
The Government bill: To ban all cash transactions above 10,000, making it a criminal offence to assist the ATO’s drive to get rid of the cash economy has effectively been sunk. Given the Virus and recession there wasn’t much appetite to pass it. It’s been delayed, but... read more
If not getting job keeper payments make sure you get to see your accountant a lot more people are getting it especially with the extra 7 alternate tests. It’s possible we might get double dip recession so it makes it hard business who doesn’t get it. Of course you... read more
Make no mistake best defense for downturn is review operation every 3 months look at all aspects. Marketing Pricing Operation Financial Personel Do forecasts be realistic if sales falling work on that don’t fool yourself. Excel is perfect tool. In business you... read more
Look Job keeper 1 was easy they made job keeper 2 more difficult while some test are similar the 30 percent fall in turnover it applies to a tighter period range a three month block rather than any one of three months but on the positive it allows alternate tests... read more
Sadly of late it’s been brought to our attention of Competitors using fear and underhanded tactics to give you high accounting bill that you don’t need. They are: Charging large fees for access to online cloud accounting and clients being hit with a large end of year... read more
The Abbott government was the first government to reduce regulations for small business since the early Fraser Years. We have had 35 years of more regulations by the federal government. Little or any thought is given to reducing such. Although the Abbott government... read more
Conditions are building for a perfect storm in business in Australia, although some risk exists. Conditions favoring small business at the moment are: Lowest interest rates ever business has possibly the lowest rates in a very long term making loans easier to pay... read more
What make a leader we have had many famous leaders from Julius Caesar to Robert Menzies. What did they have that made them leaders? Presences when I got taken through old parliament house an old hand told me that there was only two Leaders, Ming the merciless and Paul... read more
I thought I would give everyone an update on Politics as i have seen a lot of articles on Australian politics to be honest with little substance and high in emotion. Firstly I have always followed Politics having done it at University so I’m well-read and ran a radio... read more
It might surprise everyone but trade between the two countries has increased dramatically… The last decade has seen a massive increase in two way investment. Export to US for goods were $13 Billion and $7 Billion for services, in 14/15 year. US is the biggest... read more
Tax laws favour two things in Australia: Dividend Imputation and Negative gearing Negative gearing is best applied to real estate so you have both working for you that is tax benefits and real property growth. It’s often said real estate doubles every 10 years but of... read more
Starting out today what’s my advice Make sure you have a good accountant, solicitor and bank manager. A good accountants worth 15%. Do Budgets every year and update them with every change. Ensure your financials are done quarterly. Make sure your product or service is... read more
Taxes fell in the GFC due to the collapse of many business worldwide. Prior to the GST Company’s paid 5% of GDP in taxes. Due to Globalisation and profit shifting this has fallen to 4.6% of GDP. The GFC clearly put pressure on business and its reaction was to shift... read more
As we all know the worlds competitive very, competition can come in lots of ways. To lessen the competition you need an edge. It puts you in a good position. Does your small business have an edge let’s look at it? Do you dominate a marketing area social media, point... read more
Small business is set to lose the benefit of a tax cuts to companies to Childcare following Shorten $3 Billion promise for families. This represents $1600 per child. Many small business have companies and these are the drivers of the current economy. Lower taxes... read more
SMALL BUSINESS lose on Submarine. Small business is set to lose badly due to not awarding the contract to Japan. The competitive tender process focused only on one thing sound in the tender process. No weight was given to Military alliance or economic benefit. Japan... read more
If you’re lucky enough to have a strong buyer for your business – and the price is right – you’re actually only halfway there. If the deal involves being paid an earn-out fee – whereby the full price will be paid to you only if you achieve future performance levels,... read more
Scott Adams remembers just how the game turned. He was young and improving at chess, but the masterful kid across the board would out-manoeuvre Adams until the game seemed a runaway. Now, this kid didn’t want to just beat Adams; he wanted to embarrass him. “So after... read more
Hidden risk in amending BAS By now, with the benefit of the many Worrells articles and Workshops on the topic, we should all be aware of the current provisions relating to Director Penalty Notices, regarding reported and un-reported ATO debt. But you may not... read more
Telephone scammers posing as Australian Taxation Office officers have sparked a warning to Canberrans, with some victims having already lost more than $100,000. ACT police say they are investigating a number of frauds reported over the past month, in which people... read more
Psychologist Sabina Read has five top tips to reduce stress and fire up your memory: Identify your own warning signs and triggers to help manage stress before it overwhelms you Typical warning signs and triggers vary from person to person so it is important to be... read more
