What is ChatGP?

Photo By Possessed Photography Chatgp is an innovative new chatbot platform that is revolutionizing the way businesses communicate with their customers. It is a cloud-based platform that allows businesses to create custom chatbots that can interact with customers in real-time. Chatgp is designed to make customer service more efficient and effective. It allows businesses to create custom chatbots that can answer customer questions, provide product information, and even take orders.…  Read more

Start your personal 2023 budget off right

Photo By Clark Gu New Year’s resolutions are often top of mind this time of year; some will stick – but many won’t. Try not to beat yourself up about it. There’s always next year, after all. However, your personal budget is one area where you should keep your resolutions from slipping. While it’s true that there’s also next year when it comes to your financial goals, putting it off…  Read more

Is paperless payroll right for you?

Photo By Patrick Tomasso When you think of payroll, you might still envision paperwork and envelopes given to employees by hand. Even with direct deposit being the norm for years, there is still a significant paper component to manage. As with most things, payroll is going digital – and for good reason. There are many benefits to digital payroll for employers and staff alike. Read on to learn why switching…  Read more

What is a fractional CFO?

Photo By Kobu Agency A fractional CFO, or Chief Financial Officer, is a finance professional who works on a part-time, retainer, or contract basis. They bring the experience and expertise of a high-level CFO to your business – without the cost of hiring a full-time, in-house employee. Fractional CFOs service several clients at once typically on a part-time, retainer, or contract basis. Their specialty is providing outsourced CFO services to…  Read more

3 Simple Tips For Managing Your Business Cash Flow

Photo By Solen Feyissa   Cash is like water. It flows and it can disappear as fast as it appears. Cash flow is the money currently flowing through your business, as opposed to future money from your debtors. It’s your  “in hand” money. Is your business able to meet its expenses with what is currently in your bank account? If the answer is yes, you have a positive cash flow.…  Read more

8 tips for staying in budget this holiday season

Photo By Erica Marsland Huynh The holidays are officially upon us, and chances are you’re starting to feel a bit spendy. It’s only natural. We want to spread that feeling of good cheer around by buying presents for those we love. There’s nothing wrong with that, but keep your pocketbook in mind. Nothing kills the joy of the season like a giant credit card bill come January. Keep your spending…  Read more

How much you should raise your prices

Photo By Bjorn Pierre Few business owners enjoy breaking the news of an upcoming price increase. However, when you own a business you have to deal with ever-increasing costs. Although inflation is an unpleasant part of life, it is still part of life. Price increases are inevitable for a sustainable business. If you want to stay afloat, you’ll have to do them – and regularly. Read on for some tips…  Read more

What you need to know about Australia’s director ID rules

Photo By Ash From Modern Afflatus There’s a very important deadline coming up on 30th November. The ATO is urging those who haven’t yet applied for their director identification number (Director ID) to do so ASAP. The consequences for neglecting this task are severe. What is a director ID? The director ID is a mandatory 15-digit identification number given to a director who has verified their identity with the ATO.…  Read more

How to manage small business inventory

Photo By Clark Street Mercantile When starting a small business, business owners often think about things like the storefront, branding, and displays. They think of smiling employees and happy customers. It’s not usually the image of the shelves and cupboards in the back stockroom that fill their heads. But inventory is a critical component of your business. Sales are made and lost because of inventory control so it can’t be…  Read more

5 signs you need to start outsourcing tasks

Photo By Quino Al When you start a small business, it’s usually only you behind the whole operation. You wear many hats, from CEO to clean-up crew. As you pour your heart and soul into your business and it begins to grow, the amount of work involved grows with it. Because a small business is so focused on survival, you pay a lot of attention to the bottom line. This…  Read more

How to raise your prices

Photo By Jungwoo Hong As prices continue to rise, you’ve likely noticed that your cost of doing business has increased as well. With that in mind, you may be considering raising your prices – as you should. After all, the main point of any business is to make money, and you can’t do that if you’re no longer breaking even. Read on to discover some tips on how to raise…  Read more

How to respond effectively to complaints

  Complaints are an unfortunate part of running a business, but they do happen. No matter how hard you work to please your clients, eventually someone will have something negative to say. However, with the right approach, you can turn complaints into a useful tool to strengthen your business. Here are 6 tips to effectively responding to complaints: 1. Remember that this is not an argument The reason that a…  Read more

5 ways to combat inflation

It seems that every news outlet is sounding the alarm about high inflation these days. While it might sound like it’s time to panic, you don’t have to. With a few adjustments, you can handily fight off inflation and possibly even benefit from the current economic climate. Read on to discover 5 ways you can combat inflation and make your money work harder for you. Find out what you spend…  Read more

5 ways outsourcing payroll can help you

When you start a business, you’re typically your only employee and payroll is about as simple as it gets. But as you grow, you hopefully find yourself in the position of needing to take on more employees. Before you know it, what was once a very straightforward task becomes a giant undertaking that’s sucking up most of your time. This is when it makes sense to outsource your payroll. While…  Read more

5 signs you have cash flow issues

Whether it’s for personal use or for your business, cash flow is important. The movement of money in and out keeps everything running smoothly, and you have to know where you stand. But what if it seems that your cash flow isn’t really, well, flowing? If it seems that you’ve tightened your belt in every area and still coming up short, you might have cash flow issues. Here are some…  Read more

How to keep your finances on track

When it comes to your finances, it’s a good idea to check in on your progress periodically, to see if any adjustments to your budget or changes in your habits are necessary. Even if you’ve set your budget for the year, you may learn a new strategy or have a priority come up suddenly that causes you to shift your thinking. Here are ways to take stock of your finances,…  Read more

What else can I claim as tax deductions?

Have you heard of the “carry forward unused concessional super contributions” rule? At the end of the financial year, many look to purchase new income-producing assets or make prepayments to reduce taxable income. However, prepayments are just a tax deferral rather than a tax reduction strategy. Making additional concessional super contributions is a tax reduction strategy as concessional super contributions are a tax deduction up to their cap. If you…  Read more

Australian Tax Office Focus Areas 2022

ATO 2022 Focus Areas Key targets for the Australian Taxation Offices (ATO) for the 2022 tax year include work-from-home employees or workers, property inventors, and cryptocurrency traders. A detailed and good record-keeping habit will leave you off the ATO radar. Work-from-home Apart from good record keeping, you will need to be logical in claiming the expenses. The ATO would expect to see a reduction in motor vehicles, dry-cleaning, and other…  Read more

Support for Small Businesses

Bonus Tax Deductions for Small Businesses The Technology Investment Boost allows small businesses to claim 120% of the costs of new technologies and training courses to upskill staff as deductions. An annual cap of $100,000 will apply to eligible technology expenditure, with the initiative set to last until 30 June 2023. Super to Cover More Employees From 1 July 2022, you will need to pay super to your employees who…  Read more

Nine Tips to Reduce Debtor Days for Construction Business Owners

Steady, reliable cash flow is crucial for the survival of your construction business – so taking steps to ensure your customers pay promptly is a key priority. Debtor days refers to the length of time it takes clients, on average, to pay you for the work you’ve done. A higher number of debtor days means clients are taking longer to pay you. A lower number of debtor days means clients…  Read more

Want to grow your business? Our Free Resources will Help