Local Workshop – Managing Cash Flow
By · CommentsBetter Business Workshop – run by the Moreton Bay Regional Council.
Westpac’s Managing Cash Flow workshop is on at Redcliffe Library, on 9 March 2011.
Find out core principles of Cash Flow and what this can mean for your business, to ensure a prosperous year ahead.
Wednesday, 9 March 2011
Redcliffe Library, 470 Oxley Ave, Redcliffe
$40 (includes refreshments). Book with www.moretonbay.qld.gov.au/business-events
Testimonial
By · CommentsHi All at A-Z,
Melbourne Cup Day
By · CommentsIt has been a Tradition for the last few years that the team at AZ Tax Advisors celebrate Melbourne Cup Day at the prestigious Golden Ox Restaurant. This year we had a great time watching the in-house fashion parade, drinking Champagne and eating canapes; as well as catching up with some of the local Business people and clients that attended the Luncheon. As the classy people that we are – dressing up in style was no problem and scored us a picture in the Redcliffe & Bayside Herald Newspaper. Congratulations, Americain!
Strategic Business Planning
By · Comments- have a thorough understanding of the market, including your competition and important market trends, before formulating any strategy
- base your goals on actual financial data and not just estimates
- avoid goals that are too generalized and not specific enough to convert into actionable items
- avoid goals that are too narrow and do not use a holistic approach to increasing overall profitability
Recent News from the ATO
By · CommentsStandard Business Reporting (SBR) to be implemented July 2010
From 1 July 2010, you will be able to lodge compliance forms directly to the ATO through your financial, accounting or payroll software if it is SBR-enabled.
Standard Business Reporting (SBR) is an initiative by the Australian Government to reduce the business-to-government reporting burden. The SBR was co-designed by government agencies and software [...read more]
Super Co-contribution Permanent
From 1 July 2010, the ATO will retain the permanent matching rate of 100% for all super co-contributions. The maximum super co-contribution that is payable on an individual’s eligible personal non-concessional super contributions is $1,000 [... read more]
Future Super Guarantee Rates
In the 2010–11 Federal Budget, the government announced:
- the superannuation guarantee (SG) rate will gradually increase from 9% to 12% between 1 July 2013 and 1 July 2019
- the SG age limit will be raised from 70 to 75 on 1 July 2013.
These changes are not yet made law. [...Read more here]
Developing Your Business
By · CommentsOnce successfully established, you’ll want your business to grow steadily and develop so that your venture remains profitable.
Expanding your business means detailed planning, analysis and innovation. Besides an overview of the current state of your business, you must have reasonable expectations for the future. You also need to continue to maintain and control the day-to-day operations.
Developing your business means you might:
- reassess your goals and strategies
- find new customers
- aim to increase sales figures
- aim to increase productivity, and
- utilise emerging technology.
The following information will help you develop your business in the most efficient way.
The Business Plan
Chances are, you created a business plan during the early stages of setting up your business. The development stage of your business is a great time to reassess your objectives, and identify areas of improvement or opportunity.
Business Plans not only help in the assessment of financial situations, they also help give focus and direction to all business activities. It’s a good idea to regularly draft and implement well-researched plans at various stages of the business cycle. Remember: your business plan should continually be revised to reflect your current financial situation and include realistic expectations for the future.
Before starting, it’s important to have all the information required to devise a business plan. This could include financial reports, past sales and marketing performance reports, market research and customer feedback surveys. It’s also a good idea to perform a ‘SWOT’ analysis of the business (Strengths, Weaknesses, Opportunities and Threats) in relation to the company and the industry sector.
Reviewing the marketplace, segmenting target customers and understanding their specific needs, and analysing the competition, are all important steps involved in drafting a good business plan.
Creating a successful business plan requires a lot of information, in-depth analysis and careful planning. During this important phase of your business, it might be worthwhile to enlist the help of a financial expert, such as an experienced accountant.
