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There’s some new rules coming into effect from 1 November for ‘Stapling’ of superfunds to employees, and as an employer there are a few things you may need to do to get ready. But before we get into that, let’s take a look at what “Stapling” actually is. Put simply, Stapling is an Australian Government superannuation reform that means an existing super account is linked, or ‘stapled’, to an individual employee so that it follows them as they change jobs.
The scorecard becomes the marching orders of the organisation, a simple set of metrics that gives clear focus and direction of the business. Despite it being over 20 years since the BSC was first devised, this remains a powerful tool to have in your business toolbox.
Is a ‘cost-plus’ pricing strategy the best for your business?
There are many pricing strategies and the one you select should align with your greater business strategy. Get to know which option suits your goals best.
As a business owner, it’s critical to have a good understanding of how your business is performing. After all, keeping a close eye on the health of your business is how you’ll determine whether your current strategies are working, or if you need to adopt new ones. Key Performance Indicators (KPIs) are metrics that will help to determine this.
In an effort to make Queensland the place to be for small business, three new grants programs worth $25 million over two years have been announced by the Queensland Government. The announcement comes during Small Business Month; the theme of which is ‘bounce back better’.
Only twelve months ago we were in the thick of a Covid recession, but according to Josh Frydenberg “Team Australia” is bouncing back. It comes with the announcement of the 2021 Budget, which promises $30 billion in tax cuts. Here’s some highlights for small-medium business owners, as well as families.
Determining your business structure is one of the first decisions to make as a new business owner. And it’s also one of the most important. Each structure comes with its own set of benefits and liabilities. So, understanding how they will impact you day-to-day is key to building a solid foundation for your new business.
A Partnership business structure is made up of two or more people or entities. Most small business Partnerships are what is termed ‘General Partnership’ – this means that all of the partners are equally responsible for the management of the business, and each has unlimited liability for the debts incurred.
A Trust business structure is where there is an obligation imposed on a person (Trustee) to hold property or assets (such as business assets) for the benefit of others (Beneficiaries). The trustee is legally responsible for the operation of the Trust and you may have a company act in this role.
