Understanding The PPSR Act 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…
Cyber Security – Is your business 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 22 February 2018, all entities covered by the Australian Privacy Principles (APPs) will have clear obligations to report eligible data breaches. All entities will…
Barriers To Business Innovation in Australia 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…
Improving Business Efficiency With Automation These days, there is much talk about robots taking our jobs and many tasks being automated. As much as many people don’t like change, this is something that is already happening and changing the way business is done such as Amazon. It is inevitable and businesses that do not do…
Increasing Profit By Reducing Waste There are many different ways to increase business profits, but when you reduce the various methods back to basics, they all fit into the following mathematical equation: Profit = Income – Expenses This means if you want to increase your profit it’s simple, you either need to increase your income…
Organic Growth Strategies – 4 effective strategies you can implement today! Growing your business is a natural objective for virtually all small businesses. In our last blog about methods to grow your business, we explored “5 Exponential Growth Strategies for SME’s”, looking into ways where immediate growth can be achieved through acquisitions, franchising, distribution expansion,…
Secret to Increasing Your Business’s Revenue “It can’t be done”, we hear you say. Well, yes, it can and the secret is not in your own business (although that is a big part of it) but in thinking outside of the square and looking at “other businesses”. That’s right, even as a small to medium…
Business Assessment and Valuation There are many reasons why business people seek a business valuation, including: Selling the business – to get an idea of a good price, you need to know what your business is worth. This is a leading motive for conducting a valuation. Even if you don’t plan to sell yet, valuing your…
R&D Tax Incentives: Benefits and Eligibility Accessing the federal government’s research and development tax incentive is often considered too complicated by SME’s to be worth their while. However, if claims are able to be adequately substantiated the benefits available are generous. In recent times, our clients have had great success accessing their R&D entitlements by engaging experts to review…
The ATO’s New BAS Lodgment System The ATO is introducing a simpler BAS lodgment system from 1 July 2017. This will apply to small business entities with a GST turnover of less than $10 million. If you are a small business, you will only need to report: Total sales (G1) GST on sales (1A) GST…
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