Time to step up your family business!
Welcome to our November newsletter! Did you know that family businesses account for 70 percent of all businesses in Australia and employ around half of the country’s workforce? Building a successful family business is hard work, but it can also be incredibly rewarding. We understand the many challenges that you face as an owner; the key to success is getting the right advice and Advivo is here to help you on the journey.
Family businesses, like all businesses, want to grow. Sometimes, to achieve that growth additional human and financial resources are needed. I am very proud of this newsletter as we have a very diverse range of articles with lots of great information that I think everyone will find useful and enjoy. Our first article expands on the theme of business growth from last month, this time focusing particularly on introducing new capital from external sources to accelerate growth. We also talk about the benefits of setting up a board for your business, share our 5 biggest tips for successfully planning your business transition and, fill you in on what you need to know about the new Director Identification Number requirements.
More and more family businesses now have successful women as either their sole owner or steering the family business, with women now accounting for 35 percent of business owners and managers in Australia. But as hardworking as they are, many women still face obstacles in both their business and personal lives. Please take the time to read the great guest article written by Susanne Bransgrove, Founder of The Women in Family Business Network, where she examines some common observations of women in business and shares her personal experience.
At Advivo, we know that no two businesses are alike, and we pride ourselves on taking the time to listen and understand your business, your short and long-term objectives and family circumstances to tailor solutions to your unique situation.
Next week, we will be sending out our yearly Client Satisfaction Survey so you can share your feedback on how we’ve done this year and suggest what we could do differently in the future. Please keep an eye out for this in your mailbox and take the time to complete– your feedback is very important to us. In addition to this, we would be grateful if you could please share your experience working with us by leaving us a Google Review.
Thank you and happy reading!
The Advivo Team has joined the Starlight Go BIG Challenge!
From the 15th to the 28th of November, we will be pushing ourselves to walk and run as far as we can to bring happiness and fun to sick kids across Australia.
I’m sure that over the past two years, we have all experienced periods of uncertainty and social isolation, and children and families who manage serious illnesses face this every day. Starlight Children’s Foundation Australia aims to brighten the lives of these kids and families, and we’re committed to going as far and raising as much as we can for this great organisation.
We know times aren’t easy right now but, if you can spare some change, the Advivo Team and I would greatly appreciate your support with this challenge by donating.
Make sure you follow us on LinkedIn so we can keep you updated with how we go!
The Reality of Being a Woman in Business
A guest article by Susanne Bransgrove, Founder of The Women in Family Business Network, where she discusses the common trends and shares her personal experience as a woman in the world of business.
Click here to read.
5 Tips for Successfully Planning Your Business Transition
Advivo Business Advisors and Accountants share their insights on planning your business transition to ensure a smooth and successful process.
Read more here.
Registering Your Director Identification Number: What You Need to Know
As of 1 November 2021, all Australian Directors must apply for a Director Identification Number (DIN). The team at Advivo have done the research on the new Australian Business Registry Service and Director Identification Number to take all the guesswork out for you. Click here to read more.
Tip of the month
Advivo's Charity of the Month!
Advivo’s commitment to the community includes our monthly charitable donation! Future2 was our Charity of the Month Recipient for October 2021.
The Future2 Foundation aims to make a lasting impact in the lives of 12 to 25-year olds who are experiencing social, financial or physical hardship. They fund projects that contribute to skills training, financial literacy, work experience, community service, mentoring and much more. In doing so, they help disadvantaged young Australians to attain productive and fulfilling lives in the community. Read more here.
Don’t forget, if you would like us to include a charity of your choice just drop us a line at email@example.com
Key Events / Dates:
- Applications open for Director Identification Numbers (DIN).
- Stapling of superannuation commences.
- Lodge and pay October 2021 monthly business activity statement.
- Lodge and pay quarter?1, 2021–22 activity statement if you lodge electronically.
- Lodge and pay quarter?1, 2021–22?Superannuation guarantee charge statement – quarterly?if the employer did not pay enough contributions on time.Employers lodging a?Superannuation guarantee charge statement – quarterly?can choose to offset contributions they paid late to a fund against their super guarantee charge for the quarter. They still have to pay the remaining super guarantee charge.Note:?The super guarantee charge is not tax-deductible.Use our?Super guarantee charge statement and calculator tool?to work out the super guarantee charge and prepare the?Superannuation guarantee charge statement – quarterly.
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Have you had a memorable experience with Advivo?
We would love to hear your feedback and would be grateful if you could write us a Google review. This will allow us to continually improve our service and let others recognise the value we provide.