Welcome to our October newsletter,
The last two months we have focused on increasing your profitability via reducing costs and increasing your sales. This month we want to look a little further afield at increasing your sales and discuss ways you might be able to expand in to new international markets and possible government grant assistance for you in doing so.
Whilst not so exciting but equally as important as increasing revenue and cutting costs is the need to minimise risk and protect what you have so all your hard work and investment in your business is not in vain. Also included in this edition and covered in more detail as the month progresses we will be exploring new and innovative ways to protect your investment in your business, your business assets and you; the three most important components of your business and most probably your future wealth strategy. We will further explore this topic at our free seminar 16 November, the last for this calendar year.
Monthly team member profile
Adam Willemse (Senior Accountant)
Personal Service Income (PSI) Specialist
Meet Adam, he has been with Advivo since 2014 and was recently promoted to Senior Accountant.
Adam moved from South Africa to Australia in 2011. It was when he re-ignited his passion for accounting because of the challenges, consistency and nature of the job. He has achieved great success in his studies and sets a high personal standard for delivering next level service to clients and businesses alike. Adam is also our resident expert for MYOB, Excel, Employees, Contractors and PSI.
During Adams tenure with Advivo, we have learnt that he loves a game of rugby and despite his South African origins, provides all of his support to the Wallabies! We asked Adam some questions to learn more about him:
Favourite drink? The next one
Favourite food? The next meal
Favourite place? If the View, weather, food and company is good you are 90% there – i.e. Noosa, Margaret River, Mauritius, African Bushveld, Blue Mountains.
Do you speak any other languages? Afrikaans
Seminar Wrap Up – Improving your profit by 50%
There was wine, there were canapes and a good time had by all! Thank you to all who attended our recent Business Improvement Seminar on How to increase your business net profit.
For those who didn’t make it, but wish you did, here are some of the highlights. A full copy of the presentation slides are available upon request.
The two proven methods to improve your business net profit are to regularly look at strategies to Increase revenue and Decrease costs. These strategies include, increasing the average sales value per transaction, increasing the number of transactions per client and increasing the number of transactions per client. Click here for more.
Articles & Blogs
Global thinking in the reach of SME’s – are you getting the right assistance?
Written by Trevor Holmes
We have all heard the phrase of “Globalisation” which can trigger all sorts of social debate, however if your business is one that has been established with unique products or services, then consideration of new geographic markets is something that should be seriously considered. Today, like no other, access to other sovereign markets has been made much more accessible than in the past and there is considerable assistance to help the “little Aussie battler” make their mark on foreign soil. However, like any new market penetration strategy, care must be taken as there still exists many pitfalls that can result in costly mistakes being made. Read more
Business Innovation Hampered by Lack of Funds
Business innovation includes the development or introduction of new or significantly improved goods, services, processes or methods. According to figures released by the Australian Bureau of Statistics (ABS), more than a quarter of innovative-active businesses (27%) have reported that a lack of access to additional funds is the main barrier to innovation. Another commonly reported barrier is a lack of skilled people, either within the labour market or within the business. Click here to read more
Cyber Security – Are you ready for the changes?
The Australian parliament has recently passed the Privacy Amendment (Notifiable Data Breaches) Act 2017 (NDB scheme) on 13 Feb 2017. From the 22 February 2018 all entities covered by the Australian Privacy Principles (APPs) will have clear obligations to report eligible data breaches. Read more
To support our clients and partners, we invite you to “save the date” for our next free Seminar on Thursday 16th November 2017, which will focus solely on Cyber Security and tips for your business to ensure you are ready for the changes in February 2018.
Perfecting a Security Interest Over Corporate Property
In some way, shape or form just about every business comes in to contact with PPSR act. A concern of ours for some time has been exactly what this article highlights, people just do not understand this legislation although it has been around for several years. Please read the article below and take note and come along to our November seminar where we help you understand the legislation but more importantly be showing you how to use this legislation to protect your business assets, investment in the business and make the legislation work for you. Click here for more
Key Events / Dates:
- 21st October – Pay annual PAYG instalment notice (Form N). Lodge only if you vary the instalment amount or use the rate method to calculate the instalment.
- 21st October – Lodge and pay September 2017 monthly activity statement.
- 28th October – Lodge and pay quarter 1, 2017–18 activity statement if lodging by paper. Pay quarter 1, 2017–18 instalment notice (form R, S, or T). Lodge the notice only if you vary the instalment amount.