In our high-tech world, the quantity of our communication is greater than ever before, but the quality of our messages is being lost. The huge distractions caused by technology in our lives can cause a strain on productivity in the workplace. The most common distractions that people can encounter include: Social media: the temptation to…
One of the first and most important steps to take when you consider selling your business is to determine the value of your business and its assets to potential buyers. It is a sad fact, but less than half of business owners in Australia are aware of how much their business is worth in monetary…
Downsizing during retirement can help you reduce costs and put some more money in your pocket so that you feel more secure about your finances during retirement. Downsizing by selling your property has advantages and disadvantages, which you should evaluate before making this decision. Advantages Increased cash flow: Downsizing should reduce your mortgage payments and…
Poor cash flow management is one of the main reasons 50% of small businesses fail during their first five years. For small businesses that have faced challenges over the last few years, that might seem like a scary statistic. But cash flow management doesn’t have to be complicated. Setting clear targets, promptly invoicing clients and…
A Binding Financial Agreement (BFA) is the Australian equivalent of a prenup, covering financial settlement, spousal maintenance and any other incidental issues. BFAs are used to agree in advance on how a couple’s property and other assets would be distributed should their marriage or de facto relationship break down. They can be entered into at…
Australians can experience a range of natural disasters, such as floods, bushfires, tropical cyclones, severe storms and even earthquakes. These events can cause devastation to communities and financial hardship for individuals and businesses. While FBT may not be at the forefront of your mind when helping your employees after an emergency, it can result in…
Natural disasters, be they floods, fires or cyclones, can impact many parts of Australia. When they strike, your tax obligations (personal or business-related) are probably not a top priority. If your records have been lost, damaged or destroyed in a natural disaster, such as the recent flooding events, there are many ways you can reconstruct…
Dealing with the death of a parent comes with legal and financial obligations that need to be addressed, such as dividing up the assets of an estate. This can often cause sibling disputes over a Will, which may result in lengthy and expensive legal proceedings. When an estate is split between children, disputes can arise…
Setting the right salary level for your employees is essential to finding the right people to help you run your business. However, it can be difficult to determine the most appropriate level based on your business and what it can afford while also being attractive to prospective employees. When setting pay levels, particularly for advertising…
Many businesses simply renew their existing insurance policies each year. This can be a costly mistake. You may be paying unnecessarily high premiums based on outdated information, miss out on a better deal that has become available, or may be failing to cover your business against new risks that have arrived with growth. Here are…