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Identify your break-even point

Posted by XO Accounting on Oct 14, 2019 9:33:00 AM

Without knowing your break-even point, you can’t make informed business decisions.

To cover the costs of your business you need to sell enough goods or services to reach your break-even point. Knowing where that point is, and how long it will take you to reach it, can be fundamental to your success. This especially true if you’re thinking about starting or buying a business.

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Topics: buying a business, financial, break even

Combat interest rate rises in three easy ways

Posted by XO Accounting on Sep 2, 2019 11:08:00 AM

Rising interest on debt can be a curse when running a small business. However, there are some quick and easy policies you can start using to combat interest rate rises.

Individually, small steps can add some value to a business, but when combined they can make significant differences. Think of your business like a car in development. Improved aerodynamics, fuel injection and weight loss might separately increase fuel economy, but used together they could make the car a market-leader.

Here are three easy tips you can implement in your business to combat the effect that rising interest might have on your bottom line.

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Topics: financial, management, interest

Borrowing Money? Not All Interest Is Deductible For Taxes

Posted by XO Accounting on Aug 26, 2019 9:09:00 AM

If you’ve borrowed money from anyone other than a good friend or a family member, there’s a good chance you’re paying him or her interest. You may even be paying your friend or family member interest, depending on how long you’re borrowing for and how much they loaned you. That interest that you’re paying may or may not be deductible: a lot depends on what you’re using the money for. Let’s take a closer look at what makes the interest on the money you’ve borrowed eligible for a deduction.

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Topics: financial, small business accounting, planning

How a credit score helps you get paid

Posted by XO Accounting on Aug 19, 2019 10:13:00 AM

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.

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Topics: financial, value, credit score

Creating a financial plan

Posted by XO Accounting on Jul 29, 2019 9:08:28 AM

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.

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Topics: financial, small business, planning

Growing your business without borrowing

Posted by XO Accounting on Jun 10, 2019 10:44:00 AM

Taking out a business loan may be your first plan of action for financing business growth. But there are excellent reasons to consider other options for finding capital to expand your business.

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Topics: financial, small business, management

Business Buying – Doing your homework before you buy

Posted by Bizink on Nov 14, 2011 5:49:33 AM

Many people dream of buying a business and turning a small idea into a big success. The attractions are in making large profits, being your own boss, making your own decisions and employing other people to do your work and having time to think of other small ideas to grow… Buying an existing business gives you a kick-start in premises, plant, machinery, staff, plus brands, goodwill, marketing, databases – all assets that are attractive to a prospective buyer.

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Topics: business, buying a business, due dilligence, financial, Firm News, report, xero, be your own boss, Blog, investment, valuation, value, xero accountant, accountant, franchise

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