Family-run businesses form an essential part of the economy. Tradition, success, history, and their unique dynamic can create a thriving business that many may wish to see continue. However, as with any business, the conversation about succession and how to continue the business into the future needs to be had. With only 1 in 4…
Feel like your business is stuck in a rut? Unable to solve a problem that you know is going to cost you in the long run? It might not be financially tanking, and, likely, your revenue stream isn’t down, but if you’re not sure what direction to take, it could also mean that you need…
Starting a partnership may be a high-yielding decision whether you are in the business game or setting your sights on a new business venture. A partnership business structure is an incorporated business with 2-20 owners. The individual owners work together to achieve the business’s goals, sharing responsibility and profits. In a partnership, control or management…
Overcomplicating your marketing efforts to increase awareness and boost sales is a common trap. As the marketing industry continues to overcrowd and evolve with technology, businesses must look for ways to break through the noise and send their audiences a clear message. Here are three tips to simplify your marketing: Avoid Attempting To Master All…
Starting a new business is exciting, but it’s critical to structure your business correctly to maximise tax benefits. If you’re just getting started, you might want to consider registering as a sole trader, which is essentially an individual running a business. This means you are the sole owner of your business and have complete control and…
Every citizen in Australia is liable to lodge taxes. Whether you own a small business or are just a simple employee, you must lodge a small business tax return or an individual online tax return. A small business owner or an individual employee has tax reporting obligations, but taxes can be confusing as well as…
Creating a business is not an easy avenue to explore. It requires commitment, frequent planning, substantial financing and good business sense. However, not only do you have to think about the beginning of your new venture, but you also have to think about the company’s continued growth. To be a successful business, growth is the…
In today’s competitive landscape, business owners need to be able to identify and promote their business’s point of difference. A differentiated brand helps businesses to stand out to customers and can prevent them from getting lost in traffic. Businesses can differentiate themselves from competitors with similar offerings by creating a unique selling proposition. A unique…
Coming out of the holiday period is usually a slow time for businesses but there’s never been a better time to get on top of things. A new year brings business owners great motivation and opportunities to bring their businesses to greater heights. Whether you want to get on top of your business’ finances, relationships,…
When starting a new business, one of the most important responsibilities is managing your small business tax compliance obligations, and a big part of that is filing your business tax return every fiscal year. The structure of your business determines how and when you file your tax return with the Australia Taxation Office (ATO). Every…