In Australia, the number of insolvencies continues to rise every year. The causes most frequently cited include issues with cash flow, poor strategic management and trading loss. For each of these, there would have been warning signs for the business in the lead up to the failure. That is, if you knew where to look and utilise a credit score.
Perhaps you’d always planned to build a thriving business to eventually sell for a tidy sum – or maybe for unexpected personal reasons it’s best to let your company go sooner rather than later.
Help grow your business through collaboration, expansion, improved marketing and some of the following quick tips.
Depending on the current state of your finances, financial freedom might seem a long way away. For many people, financial freedom—when you don’t have to worry about how to pay the bills and your money is invested and making money for you—is a far off dream. What they don’t understand is how close financial planning can get them to that dream.
Once you've made the decision to sell your home, chances are you'd like to do it as soon as possible. While some houses sell almost as quickly as they hit the market, others sit for a considerable amount of time without generating any offers from prospective buyers. Fortunately, there are several steps that you can take to increase the odds that your house is in hot demand and sells quickly.
Freelancers in all industries deal with the same problems due to the nature of their work. Typically, freelancers are solo work-from-home contractors that manage every aspect of their business. If you're thinking of dropping your career as an employee to begin freelancing, consider the following obstacles you will need to navigate. Unfortunately, problems beget more problems, and a shaky foundation quickly leads to a crumbly business, and many regrets about starting in the first place.
There are several aspects of business that can only be learnt through actual experience. One of them is negotiating contracts.
Several people fear the negotiation process because it is an intrinsically uncomfortable process. Asking for more money or making personal demands doesn't come naturally to everyone. But with the right toolkit, you can breeze through contract negotiations. And you'd better get used to it, because you'll have to handle a lot of contracts whether you're a business owner or a company employee.
Single Touch Payroll
From 1 July 2019, you will have to transfer your payroll transaction data to the ATO each time your employees are paid using a software solution to do this.
This year's Federal Budget includes some good news for small business enterprises (SBEs), including the continuation of the Enterprise Tax Plan and the digitisation of licensing and registration services.
Whether you are thinking of launching a small, local business or a global enterprise, finding a city that is friendly toward entrepreneurs is important. You want a city that is culturally supportive of business owners, in a region or country that makes things easy for you from a financial perspective. You also want to be in a place where it is easy to attract and retain good talent, and where you can network with a lot of other business owners and share resources. Here are ten worldwide cities where starting a business is less difficult than in other parts of the world, for a variety of reasons.