Starting a business is an exciting journey filled with lucrative opportunities, growth, and the chance to pursue your passion. One of the most common ways to open a business is under a company structure, which provides a range of unique benefits, such as limited liability and the ability to raise capital. However, with this structure…
As a business owner, you have a lot of responsibilities. Not only do you need to worry about tax obligations and payroll, but you also have to stay on top of financial reporting. Although it can be a lot to keep track of, it’s important to make sure that your business is compliant with all…
It is not uncommon for new sole trader or partnership businesses to operate at a loss for the first few years as they grow. To keep the business growing, sole traders and partners often have to cover the loss with other forms of income, usually salary income. Typically, in the initial stages of growing their…
When most people think about starting a business, they imagine a long and complicated process that requires a significant amount of money. And for many entrepreneurs, that is enough to put their dreams on the back burner. But what if you were told that starting a business in Australia could cost as little as $650?…
Starting your own business can be an exciting and rewarding experience, and one of the simplest ways to do it is by becoming a sole trader. As a sole trader, you’ll have full control over your business and be solely responsible for its debts and liabilities. But, while it may seem like the most straightforward…
The end of the financial year is around the corner, which means it’s time for small businesses to save some money on taxes. Let’s be honest – no small business wants to pay more tax than they have to. Fortunately, the Australian Tax Office (ATO) recognises the vital role that small businesses play in the…
As of 27 July 2022, the Australian Government is introducing the Treasury Laws Amendment (Electric Car Discount) Bill 2022 to exempt cars that are provided to employees for private use with zero or low emissions from fringe benefits tax (FBT). These include battery electric, plug‑in hybrid electric, and hydrogen fuel cell electric cars.
When running a small business, it’s important to ensure you’re taking advantage of all the tools and resources available. While your mind might immediately go to software or marketing automations, this also includes finding the right people to help your business grow. A common question we get asked when our clients start building their team…
Sitting around wondering why cash flow is important for your current venture? With financial issues a common painpoint for Aussie businesses, it’s more crucial than ever before to know why your money management is the be all and end all. As a business owner, getting a handle on your cash flow is mission critical for…
Operating a small business in Australia comes with many risks and responsibilities. While passionate owners pour their hearts and souls into building their enterprises, the reality is that unforeseen events can derail even the most promising ventures. A major lawsuit, accident, or natural disaster can rapidly transform minor hurdles into existential threats. Without proper contingency…
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