Having large cash reserves provides many benefits to any business. It can help your business stay afloat during an economic downturn, gives your business the cash it needs to adapt to changing markets, and simply provides peace of mind to business owners. These cash reserves are often called war chests, as they are finances built…

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With all that has been going on in the country within the past 6 months, bushfires and COVID-19, individuals and businesses have had to pull through a lot. Fortunately, the government has recently changed some tax rules to give both businesses and individuals some relief. This should help offset the increased cost of working from…

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If you have gone off track and your money is all tied up it can be hard to know what path to take next. Cash flow is essential to all businesses and can greatly affect the success of a business. Working to find cash flow neutral, and ultimately cash flow positive will help your business’…

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Separating your business expenses from personal expenses will simplify your life dramatically. Often it is thought by new business owners that having to manage business accounts plus personal accounts will be a nightmare, but this is far from the truth. In fact, it simplifies your accounting and bookkeeping processes dramatically. You will also have a…

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For any new business owner there is a wide range of taxation obligations you will need to learn in order to fulfill them correctly. Among these is your BAS obligations. It is common for small business owners to ask what a BAS is, when it needs to be lodged, and whether they need to lodge…

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There are many reasons why people start a business. One common reason is the desire for freedom. That is freedom in time, freedom in finances, and freedom of the mind. Being able to spend your time to do what you want when you want is often a goal for many of us. Your business is…

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This is an exciting time. You are starting your own business and embarking on a new, exciting part of your life. At this stage, you will have a great idea and are ramping up to release it as a product or service. It is too easy to get caught up focusing on your product or…

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Congratulations, you’ve decided to spread your wings and venture out into the freelancing world. You’ve spent years honing your craft while working for other people, and now it’s time for you to be your own boss and build something for yourself. While this is all very exciting, you may quickly realise that the practical matters…

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Business is booming. You have many wonderful customers who love your products or services, your marketing campaign is going perfectly, and every meeting with your bookkeeper brings more good news. Its time for expansion! But hold your horses. Is your business really ready for expansion? It can be easy to jump the gun on expansion…

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