Tips for Setting Achievable, Productive Business Goals
Advivo Managing Partner, Leon Stephan, provides helpful tips for setting goals to effectively boost your business. Let’s start with some key tips that are important for setting goals that are achievable and productive across all levels of a business. The SMART Goals framework, encapsulated below, is a good principle to follow: S: Specific M: Measurable [...] Maximising Your Tax Structuring This End of Financial Year
Advivo provides strategies for maximising your tax structuring to prepare your business for EOFY. As the end of the financial year (EOFY) approaches, it's crucial for business owners to ensure that their tax affairs are in order. Effective tax structuring can lead to significant savings and a smoother EOFY process. Continue reading to discover some [...] Managing Your Business Costs During Times of Inflation
[ultimate_heading main_heading="Advivo Partner, Dale Edwards, explains how you can make sure your small business remains profitable during this period of rising costs."][/ultimate_heading] For well over 10 years inflation has been at historic lows. For much of the time, it has been possible for businesses to absorb changes to costs rather than having to pass these [...] Why Your Personal Accountant Shouldn’t Be Your Small Business Accountant in Brisbane
Advivo explains why you should trust your business with a professional business accountant Running a small business in Brisbane is no small feat. It involves managing numerous aspects, including finance, which is crucial for your business’s success. One common mistake many small business owners make is relying on their personal accountant for business accounting. In [...] The Dos and Don’ts of Small Business Tax
Tips on Small Business Tax Small Business Tax can seem like a foreign language, especially when there are so many grey areas. That is why Chris Morris, our Business Development and structuring Specialist, has provided a general list of small business tax do’s and don’ts. DO – Begin with the end in mind. To determine […]
The Dos and Don’ts of Small Business Tax
Tips on Small Business Tax Small Business Tax can seem like a foreign language, especially when there are so many grey areas. That is why Chris Morris, our Business Development and structuring Specialist, has provided a general list of small business tax do’s and don’ts. DO - Begin with the end in mind. To determine [...] Reducing Fringe Benefit Tax (FBT) Liability for SMEs
What is Fringe Benefit Tax (FBT)? A fringe benefit is a benefit provided in respect of employment. This effectively means a benefit provided to an employee (or their associate) because they are an employee. An example of a fringe benefit being provided to an employee may be one of the following: Allowing your employees to [...] How Innovative Accounting Can Give Your Business a Boost
Advivo outlines how innovative accounting solutions are the key to helping your business grow. The primary goal of every business is to make a profit. This is especially true for small and medium-sized enterprises (SMEs). However, the journey to success is often difficult and riddled with a myriad of challenges. From managing cash flow effectively [...] Succession Planning for CEOs in Small Businesses: Key Fundamentals
Advivo Partner, Chris Morris, outlines the essentials for successful CEO succession planning in small businesses. CEO succession planning is not solely the terrain of large corporations; it holds equal importance for small businesses. While the scale may differ, the impact of leadership transitions on small enterprises can be equally profound, if not more important to [...] Timing Considerations for Your Succession Plan
Advivo Managing Partner, Leon Stephan, outlines the considerations you must make when it comes to the timing of your succession plan. Most small business owners make more (after allowance for their normal commercial wages for time spent working in the business) out of the sale of their business rather than operating the business. So, it [...]