Knowledge Centre

Wanting to increase your profit and improve your cashflow but don’t know where to start? Watch our video on what we refer to as the “5 Pillars of Growth” – 5 areas in your business where you can choose one or two strategies to make an impact on your bottom line and bank account. What you can do in your business to achieve business growth.

Keeping track of your inventory, the time it takes to sell and the profit made on each product is essential if you want to manage your business effectively.

Tracking the movement and value of your inventory is essential for pricing, insurance, accurate tax returns and selling your business.

Running a successful business requires more than just a great product or service. It’s crucial to have a solid grip on your finances to ensure long-term growth and sustainability. By taking control of your business finances, you can make informed decisions, optimize cash flow, and pave the way for future success.

Are you undercharging for your services? It can be hard to tell, particularly if you’re in a niche industry or you’re a contractor. Costs have been rising, so it may be time to rethink your own pricing.

We know that building long-term relationships with your customers makes good sense for your customer experience. But good relationships are also a key factor in making your business more financially stable and improving your bottom line.

Vehicle expenses when you travel for work are tax deductible. If the vehicle is purely used for work, you can deduct all the costs, otherwise you can only claim a portion. Remember that travelling to and from work everyday is not a business expense.

As a business owner, which expenses are tax deductible and which are not? We help answer some of your questions.

What expenses are tax deductible for your small business? Meals with clients, mortgage interest payments, and work uniforms could all be claimable – our quick Q&A will help you learn more.

Sloppy, inaccurate, or careless work can become obvious in several different ways, and it can cause a lot of problems.

Let’s take a look at the key ways to start the new year with a clear strategy to drive your business forward. The past couple of years have not been easy for the average small business owner. Cashflow will have been tight, prices and costs have been steadily rising and the marketplace is ever-more competitive as we move into 2023.

Take a minute to refresh yourself on how much is deductible as a business-related expense.

The basics: an expense is business-related if you spend the money to help your business earn income. Business-related expenses are generally fully deductible.

Leading up to the holiday period, is your business cash flow in good health to carry you through? This time of year can be hard on small business. Make a plan early to ensure healthy cashflow over the holidays. 

In a tight labour market, smaller businesses need to play to their strengths and tailor unique remuneration packages for each individual. This video looks at the advantages SMEs can leverage to attract and retain top talent.

Falling house prices and rising interest rates are making home-buyers wary, but experts say that, if you can afford it, now is a good time to buy…

Do we need to get used to 6% mortgage interest rates again? And what can you do if you’re coming off a fixed term and facing higher repayments?

Ever considered how much you need out of the business to support your cost of living? We can work backwards to determine after the net profit required and overheads and costs are accounted for to assess what sales you need out of the business to reach this goal. This can then be broken down into monthly targets then monitored to ensure you are on track.

Know your plan on where you are now at Point A and where you want to be at Point B? Have you considered significant economic conditions which may affect your business? As a reflection, you need to either create or revise your existing budget and assess what your new net profit is and breakeven point.

Inflationary pressure, supply chain issues and high cost of living – how will this impact on you and your business? You need to work out where you are now in your business – Point A and where you want to be – Point B. What will the journey to Point B look like with all these contributing external factors?

Nothing happens over night. If you are considering stopping a habit because your expected outcome is not occurring, you could be sitting in the Valley of Despair as James Clear so clearly articulates in his example of “Plateau of Latent Potential”.

In this complimentary webinar, you’ll learn how to identify the 7 key areas in your business that you can influence and the strategies you can adopt to achieve growth and improvement.

Where we’ll cover…

Good financial awareness skills start with having a personal budget. Budgeting doesn’t mean living on bread and water. It’s about managing your cash and gaining control of your finances.

Are you an entrepreneur who’s struggling with inconsistent/low cashflow?

Our Cashflow Management Coaching service has been designed to treat the underlying causes of poor cashflow and help you develop the most practical and real ways for you to grow your business.

Being a small business owner means being a jack of all trades – but these days, there are some apps to help you handle a few of the day-to-day tasks.

Write off a bad debt by creating a credit note against the relevant invoice. This is just one way to account for bad debts. We recommend you ask your accountant or bookkeeper for the best method for your organisation.

Are you confusing markups and margins?

No matter the size of your operations, all businesses that deal with selling products have to grapple with selling price and cost price.

Three times a year we calculate how much income tax we anticipate our clients should pay (with our crystal ball). This is called PROVISIONAL TAX. For each provisional tax payment we call this P1, P2, and P3.

When your income tax is due it is so confusing as it often crosses over 2 years. We have created a visual guide to assist clients being able to see what taxes they have payable and when they can expect to pay these.

Click here to view a quick video on Security when working remotely and how to stay secure when working online.

Click here to view quick fire videos Xero Accounting System.

Click here to view quick fire videos on Payroll and how to choose a payroll system.

The bright-line test means if you sell a residential property within a set period after acquiring it you will be required to pay income tax on any profit made from the property increasing in value.