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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?
The JobKeeper wage subsidy scheme is being extended into March 2021. Before you jump for joy too much, there’s a few changes that you will need to be across.
JobKeeper 2.0 again requires businesses to qualify on decline in turnover. You can again use the JobKeeper Alternative Tests if you don’t satisfy the Ordinary Tests.
Don’t leave your business’ future to chance.
If you are seeking wise start-up advice for a new business, you might well wonder what the headline for this blog is talking about. Bear with us while you consider these two possibilities…
– Should you start up a business doing something you’re good at?
– Should you start up a business doing something you enjoy?
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.
Every business transitions through phases of insufficiency and surplus. Keeping consistent and accurate records help in gauging the status of your business. However, once you realise your business is not following your laid out plan, craft a restoration plan as soon as possible. Here are four tips to help you reclaim the situation.
