In part one and two of this series of articles we identified the fact that there is no secret formula or magic potion that guarantees financial success in business, however, there are some key ingredients that successful businesses have in common.  In part three we look at the importance of building a great team, having a lead generation website (including video content) and building a customer database...    …


Wishing all our clients and their families the very best for the Festive Season and a safe & happy 2022. Please note we will be closed from Friday 24th December and re-opening Monday 10th January 2022. In the meantime, and in case you missed it, check out our latest Business Accelerator Magazine, full of articles and news about growing and nurturing your business. This edition includes our second article in a series on What are the Key Ingredients for a Successful Business? As well as articles on the ATOs new Stapled Super Fund rules, an examination of why start-ups fail and info on the rules around the newly introduced Company Director ID Number… …


Most people for one reason or another contemplate starting their own business. While there’s no magic potion or secret formula that guarantees business success, highly successful businesses have some common characteristics that we will explore across a series of articles. In this instalment, we look at the importance of marketing and systemisation... …


Are you a Company Director? The new Director ID regime is now law and existing company directors have until 30 November 2022 to apply but new directors appointed as of 1st Nov 2021 have just 28 days from appointment to apply and directors appointed 5th April 2022 onwards must apply prior to appointment... …


The COVID-19 pandemic has impacted the way we live, work and play. While the pandemic has posed a threat to lives and livelihoods, there’s clear evidence that people have struggled to balance the hybrid work model particularly when combined with home schooling duties. After 18 months of uncertainty people are doing a lot of soul-searching and a chunk of the population are re-evaluating various parts of their lives including their employment and some are considering self-employment. In this article we examine the perils and pitfalls of going out on your own, and importantly, how to avoid them... …


It's an emotional moment when you finally make the decision that it's time to sell your business. All those long hours, customer dramas and financial risks will loom large in your mind but the buyer isn't interested in how much work you've put into your 'baby', they want to see financial proof that the asking price is justified.... …


Don’t miss our latest edition of the quarterly Business Accelerator Magazine, full of articles and news about growing and nurturing your business. This edition includes the first part in our series on The Key Ingredients of Business Success as well as looking at whether COVID-19 Grants are taxable and the ATO’s data-matching programme targeting lifestyle assets… …


Most people at some stage of their lives, for one reason or another, contemplate starting their own business. While there’s no magic potion or secret formula that guarantees business success, highly successful businesses have some common characteristics that we will explore across a series of articles... …


The State and Federal Governments have provided business owners with a range of grants and subsidies through the pandemic including the Cashflow Boost, COVID-19 Disaster Payments and JobKeeper. While you might think all government support is tax free, this is not the case... …


Classifying your customers could make a real difference to your business. It could be the difference that means you won't spend every waking hour at work thinking about it! It could literally improve quality of life for you and your team. You see, we all have customers we just don't like to deal with. Well, why do it? Those customers who give us grief, never pay on time, complain consistently, or are generally unfriendly and uncooperative really don‟t have to be a part of our lives. This information is designed to give you insight into what classifying your customers means, why it's important, and how to do it successfully. …


The Victorian Government has announced the reintroduction of the Commercial Tenancy Relief Scheme. Businesses with an annual turnover of less than $50 million and who have experienced a decline in turnover of 30% or more due to the pandemic will be eligible as well as most ACNC registered charities that have experienced a decline in turnover of 15% or more… …


You see after purchasing a product or service, a customer will be happy or dissatisfied and will act accordingly out there in your marketplace. Statistics show that happy customers tell some people, whereas unhappy customers tell almost everyone and anyone who will listen. As such how a customer feels after a purchase is almost as important as before! ‘Post-purchase dissonance’ literally means that the customer becomes unhappy with the purchase afterwards. Ever bought something and then for some reason felt like you’d done the wrong thing only days later? That’s post-purchase dissonance and most people have experienced it at one time or another. For some, it happens almost instantly.  …


In this blog, you’ll find out just how important it is to truly differentiate your business in the eyes of your potential customers. And you’ll find out what a ‘Unique Core Differentiator’ is and how important this could be to your business. Important because it’s a critical tool to help your potential customers clearly understand the differences between your business and your competitors—in an instant. What are people really looking for? …


A back end refers to that part of your business that sits behind your ‘front end’! Your front end is the products or services your customers initially purchase from you. You might consider these ‘initial’ products or services the mainstay of your business. A back end creates the opportunity for repeat sales. It means your customers can come back to you again and again. This makes dealing with that customer far more profitable. Another great benefit is that it reduces your need to go out and win new customers constantly (far more expensive than selling to existing customers), but it does much more than that. …


As you can imagine, there are literally hundreds of variations on creating a system to capture referrals within your business. This information is designed to give you insight into some ways and means of putting together a great referral system. Find out just how powerful the 7 ways of gathering referrals can be for your business...  …


How many times have you heard it? A business owner complains about the government, the weather, any number of other reasons, for the failure of their business. In fact, for most businesses, the statistics you’re about to see tell a very different story. A story that’s important to understand so that you and your team know just how much your own actions ultimately affect the success or failure of your business in a much more significant way… …


Australian businesses are again feeling the pinch financially as the second year of the COVID-19 pandemic continues to unfold. Businesses along the east coast particularly are in a state of uncertainty - going in and out of lockdown like a swinging door. As a result, the Federal Government has expanded the range of financial support available... …


As we approach the end of the 2020/21 financial year, the Australian Tax Office has indicated that several types of costs associated with working-from-home will not be eligible as a tax deduction… …


Don’t miss our latest edition of the quarterly Business Accelerator Magazine, full of articles and news about growing and nurturing your business. This edition includes our Federal Budget roundup, articles on working ON your business, not IN your business as well as a Tax Return Checklist... …


Victorian Business Costs Assistance Program (Round Two) - with the snap lockdown commencing Thursday 27th May the Victorian State Government has announced Round Two of the Business Costs Assistance program which opened for applications today (Friday 4th June) and the Commonwealth Government has announced a Temporary COVID Disaster Payment for employees... …


In this fourth edition of our Recession Buster Newsletter we continue to examine the 4 Ways to Grow Your Business, specifically the 4th way – Improving Your System & Processes. In other articles we explore the importance of having a website. Other articles include the 3rd part of Ways to Turn Your Website into a Lead Generation Machine - this particular article looking at the importance of a good headline, Live Chat function, Social Proof (Testimonials) & Social Media Links - and finally we look at mining your customer database for gold... …


There is an old saying, ‘The most fertile source of insight is hindsight’. That being the case, what can business owners learn from the COVID-19 pandemic?  …


Every business owner wants to grow their business and their profits. While there’s no secret formula or recipe, the fact is, business growth and improved profitability are outcomes achieved as a result of processes including marketing, your expertise, customer service and your team’s performance... …


Victoria's business community has been greatly impacted by the COVID-19 pandemic and with the recent circuit breaker lockdown further impacting Victoria, the State Government has announced a further $143 million package to support impacted businesses...  …


In this third edition of our Recession Buster Newsletter we continue to examine the 4 Ways to Grow Your Business, specifically the 3rd way - Increasing the Average Sale Value. In other articles we explore the importance of measuring, monitoring & testing your business, Other articles include the 2nd part of ways to turn your website into a lead generation machine - this particular article looking at the importance of Lead Magnets & Calls to Action - and finally we examine the importance of goal setting and future planning... …


The JobMaker Hiring Credit system announced in the 2020-21 Federal Budget has now passed into law and if your business is eligible and you hired additional younger employees from 7th October onwards, you can now claim the credit (quarterly in arrears) from the ATO from 1 February 2021… …


With the media flooding us with COVID-19 information and governments around the world using vocabulary that is normally reserved for war time we know we are living in unprecedented times. Historically, business start-ups tend to surge when there are high levels of unemployment and middle management lose their jobs. Amongst all the uncertainty, is it the right time to start a business? …


As businesses reopen, we are being confronted with a new ‘normal’. More people are now working from home and increasingly, staff and customer meetings are being conducted online rather than face to face.  In the second edition we explore the 4 Ways to Grow a Business with a focus on the second way - How to Get Your Customers to Buy More Often. In other articles we look at how to turn your ‘electronic brochure’ style website into a lead generation machine and how to convert those leads into sales. Finally, we look at the importance of giving your customers a guarantee...  …

Recession Buster Newsletter Edition #1

Recession Buster Newsletter Edition #1

The COVID-19 pandemic not only triggered a global health crisis, it also plunged Australia into recession for the first time in three decades. As such, a lot of business owners are in unfamiliar territory and we are here to help you navigate your way through this extraordinary and challenging period...


As business owners, we need to learn from experience because history has a habit of repeating itself. Going forward we need to have a contingency plan in the event there is another virus outbreak or some other catastrophe … …


The Government’s Stimulus Packages have given thousands of businesses a lifeline during the Coronavirus crisis. Unfortunately, with many businesses back in lockdown in Victoria, some businesses just won’t survive this time around. As accountants, our mission is to ensure you survive but if all avenues have been exhausted and it’s the end of the road, there are a number of things that need to happen to wind a business up… …


The ATO has announced a rise in the cents per kilometre deduction rate for motor vehicle expenses for the 2020/21 financial year. Effective from July 1, 2020 it will be 72 cents per kilometre. The tax office is expecting to see a drop in work related car expenses claims due to the COVID-19 travel restrictions in the last quarter of the 2019/20 financial year ...  …


Businesses have been forced back into lockdown, for some maybe for the first time under the current stage 3 restrictions in Victoria (Stage 4 in Melbourne) and one thing has become clear, it’s no longer ‘business as usual’. The world as we know it has changed and we have been forced to rethink our daily routines, spending habits, exercise regimes and social interactions. Many businesses will be in dire circumstances, but is this the time to be trimming your marketing, or just the opposite? …


Sadly, many Australian businesses are a long way from trending back to 'normal' as we approach 27 September 2020, the original date that the JobKeeper Payment was set to end. Thankfully the Government has announced an extension of the JobKeeper Payment with reduced rates and additional turnover qualifications... …


The coronavirus has been labelled the biggest global crisis for three generations. The economy came down 50 floors in the ‘elevator’ and it will be much slower and harder going back up via the staircase. To help your business survive and prepare for the period of regrowth we have put together this list of items to consider …


As part of the Government’s response to the coronavirus and its financial impact on individuals, there is a temporary opportunity for individuals to withdraw up to $10,000 from their superannuation funds before June 30   …


If you are one of the thousands currently working from home during the COVID-19 ‘shut down’, you may be able to claim a deduction for some of the expenses for your ‘office’ area. There are two parts to this, those employees working from home and businesses where their principal place of business is their home – effectively running their business from home. …


American business magnate, Warren Buffet said, “Only when the tide goes out do you discover who’s been swimming naked.”  When the economy is booming, we tend not to worry about our level of debt or expenditure on non-essential items. As the shock of the coronavirus wears off, it’s time to move into the planning phase and develop a clear strategy. The following checklist serves as a useful action plan ... …


As the end of this quite extraordinary financial year approaches, we have created a Tax Planning Guide which highlights some end of year tax planning opportunities to help you minimise tax and take action on any items required pre June 30.    …


Pivoting is something business owners normally do when they sense the business needs a change of direction. The COVID-19 pandemic's arrival with little or no warning has caused most Australian businesses, both big and small, to effectively go into hibernation. The question is, could your business benefit from pivoting in the current environment?     …


The coronavirus has been labelled the biggest global crisis for three generations and has stopped the economy in its tracks. Thousands of businesses have gone into hibernation and self-isolation rules have changed the way we live. Business owners face never seen before challenges and to help navigate your way we provide a checklist and other resources to help our clients   …


There is a lot of confusion about the JobKeeper enrolment process for employers. Last week some 800,000 employers lodged an expression of interest for the JobKeeper Payment System, but this DOES NOT mean you are enrolled.   …


The Government have announced a ‘Job Keeper’ Program that provides wage subsidy payments to Australian businesses who have seen their turnover reduce significantly as a result of the coronavirus. Registered employers will receive a flat $1,500 each fortnight for each eligible employee, including those that have been stood down or recently rehired. …


Our clients are looking for help as the COVID-19 pandemic tracks towards being the greatest social upheaval the world has seen since World War II. The updates and announcements are coming at a breakneck speed. With some industries more severely impacted than others the question is 'What to do next?' In response, we have put together this action plan checklist    …

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