Marketing, human resources, sales, planning, strategy, legal, compliance, project management - business owners wear countless hats and are skilled in changing them in an instant. So when it comes to managing their accounting duties, it’s no surprise that many entrepreneurs leave the number crunching in their accountant’s hands.
You may think Key Performance Indicators (KPIs) are tools used only by the biggest businesses, however even the smallest business can benefit from implementing even some basic KPIs into their business. In fact, the way you manage your team, you may already have a few KPIs in place without even realising it.
Small businesses beware! 10,000 small businesses are set to be targeted by the ATO as part of their ongoing crackdown on the Black Economy. This is an increase from the 9,000 businesses targeted last year. So it's now more important then ever to make sure you're doing the right thing and getting the right advice!
We live in a truly exciting age! With so much information at our fingertips, we're almost instant professionals. If you don't know something google it, or go to YouTube. With that much information available to us it makes sense to Do it Yourself right?
In a nutshell, all businesses exist to solve problems. Why people engage with a business is because the business owner can achieve the desired result faster than the customer could achieve it themselves.
Its amazing how many times I’ve sat down with somebody and I ask, why did you go into business? And all I get are blank stares and no clear-cut responses. It’s rare that I get an answer with such conviction that it shows me why they started their business. Some of the more common responses I get are:
Whether you have your structure or not, the next thing to do is sit down with your accountant and solicitor to get advice on what to do next.
Local search engine optimization (SEO) is an important part of any online marketing strategy for traditional businesses which service a specific geographical area.
No business owner looks forward to a letter from the taxman requesting a closer look at the books. If you’ve received an audit letter – an official request by the tax authority to review your accounts and confirm your taxes have been paid to date – don’t panic. Prepare.