Sole Trader business structures are quite easy and inexpensive to set up. As a sole trader, you are personally responsible for all of the operations (including debts) of your business. You also pay tax personally on the profits at your marginal tax rate.
When running a small business it can be easy to fall into the trap of feeling like you have to do it all, which can be overwhelming for even the most seasoned business minds. But while we may be used to wearing multiple hats, the question we must ask ourselves as small business owners is… how well are we wearing those hats?
We’ve been looking at how visualising your business numbers can help you make strategic decisions in your business. In this article we’re looking at how to decide where you should grow your sales.
For many businesses, the two major costs they experience are: Cost of Sales and Wages. Understanding how each of these main costs impact your business means that you can make better decisions to move your business to the next level.
Free cashflow is the lifeblood of business, not only is it a sign of profitability but also provides a resource to help you grow your business into the future. Free cashflow is what’s left after all your expenses – think rent, wages, finance repayments, taxes. Having enough free cashflow in your business eliminates one of the most common business owner headaches – and taking control is not so difficult – it just requires a little planning, enlightenment and system changes.
It’s no secret that cash flow is the life-blood of any business. Discover simple ways to generate more cash flow into your business quickly.
Business owners always want more cash and time; find out 10 ways to get both in your business.
We often have business owners approach us saying that they are working hard, doing all the right things but feel like they aren’t making any money. Their existing advisors keep telling them that they’re making a profit, but despite looking everywhere they can’t seem to find it. The real crunch comes at tax time when they have a tax bill but no cash to pay it.
Discover how cloud applications can benefit your business by giving you the information and data you need to make more accurate decisions.
As a business owner you have a number of responsibilities to various Government Organisations and also to the public. You are bound by laws from local, state and federal levels as well as organisational bodies. In this blog we will cover your main obligations to the Australian Taxation Office (ATO) and Australian Securities and Investment Commission (ASIC) for a business owner and specifically a Director of a company.
