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Separating personal and business expenses

Posted by XO Accounting on Dec 2, 2019 9:01:09 AM

There are some things in life that go together well and others that definitely do not. Business and personal finances are in the category of items that should not be mixed. Although it may seem like a headache to keep them separate—who wants to manage all those bank accounts?—your life will be greatly simplified once you separate your personal and your business finances, especially your expenses.

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Topics: expenses, small business

Tips for switching off during the holidays

Posted by XO Accounting on Nov 18, 2019 9:31:00 AM

The holiday season is once again here, and with it comes time to relax, focus on family and friends and take stock in what is really important in life. Unless you’re a small business owner. Every small business owner knows that being away from the office can be just as stressful as being in it.

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Topics: small business, holiday

Three reasons why you need small business insurance

Posted by XO Accounting on Oct 22, 2019 9:09:19 AM

If your small business operates on a tight budget you might be tempted to eliminate costs that you think aren’t necessary. Often small business owners choose to go without business insurance as a way of saving money, but doing so can be incredibly costly in the long run.

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Topics: expenses, small business, insurance

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

9 Things You Need to Remember While Negotiating Contracts

Posted by XO Accounting on Jul 8, 2019 12:46:00 PM

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.

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Topics: small business, contracts, negotiation

Sometimes it's Good to be Small

Posted by XO Accounting on Jun 24, 2019 11:36:00 AM

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.

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Topics: Firm News, small business

The top 10 cities for business start-ups

Posted by XO Accounting on Jun 17, 2019 10:04:00 AM

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.

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Topics: Firm News, startup, small business

Changes coming at 1st July 2019

Posted by XO Accounting on Jun 14, 2019 10:52:01 AM
Single Touch Payroll
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Topics: tax changes, xero, small business

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

So you’ve launched your business – now what?

Posted by XO Accounting on May 27, 2019 10:50:00 AM

So you’ve launched your business – now what?

Good news for small business owners: according to the US Small Business Administration, nearly 80% of small businesses survive their first year.

However, that number begins to drop as time rolls on. Only half of small businesses pass the five year mark, and a mere third celebrate their tenth anniversary.

Taking steps to create a good foundation in the early days of your business is essential for a sustainable and profitable future. Here’s how.

 

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Topics: startup, small business

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