Author: Bizink

In a crowded marketplace, standing out can be a real challenge. One of the most powerful tools at your disposal is the testimonial—a genuine account of your customers’ positive experiences with your business. These success stories not only build trust and credibility but also can significantly boost your sales and brand reputation. If you’re a small business owner looking to harness the power of testimonials, this guide is for you.…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Roy Morgan Business Confidence jumps due to increased confidence about the economy In August 2024, Roy Morgan Business Confidence was 101.3 (up 6.2pts since July 2024) due to increasing confidence from businesses about the performance of the Australian economy. The boost to Business Confidence came after the Stage 3…  Read more

Understanding financial statements might sound daunting, but it’s crucial for small business owners to stay on top of their game. Each financial report offers unique insights into different aspects of your company’s health. This listicle will break down the essentials, helping you make informed decisions and ultimately steer your business toward success. 1. Balance sheet What is it? The balance sheet provides a snapshot of your company’s financial position at…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Despite all the doom and gloom on Australia’s economy, could the worst be behind us? We hear about the ‘weakest growth in decades’ and being ‘smashed’ by the RBA, but positive tidings abound – if you want to look for them. Economists think a rate cut is coming. Michele…  Read more

Whether it’s for personal use or for your business, cash flow is important. The movement of money in and out keeps everything running smoothly, and you have to know where you stand. But what if it seems that your cash flow isn’t really, well, flowing? If it seems that you’ve tightened your belt in every area and still coming up short, you might have cash flow issues. Here are some…  Read more

Welcome to our Weekly Digest – stay in the know with recent news updates relevant to business and the economy. How Australian spending habits are weathering the high cost of living Many Australian businesses are feeling the pinch as customers can no longer afford the armchairs, gadgets, clothing brands and new bathrooms they could before the cost of living shot up. But spending patterns remain uneven, and at times counterintuitive,…  Read more

When you think of financial planning, you probably imagine ways to increase your wealth, such as making a budget, reviewing what’s coming in and going out, and creating a plan for how to make the most of your money. You may think of investing in stocks or bonds, or of starting a retirement fund. Perhaps you think of saving for a major expense, like a home or education for your…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Business confidence nudges up across Australia The Roy Morgan Business Confidence index was 95.1 in July 2024, up 3.6 points from a month ago and up 7.6 points from the same month last year. It comes after Stage 3 income tax cuts to consumers boosted the spending power of…  Read more

Starting a business without a plan is like setting sail without a compass. While you might eventually reach your destination, the journey will likely be longer and more challenging. A well-constructed business plan is essential for guiding your business towards success.  Here’s why: It Clarifies Your Vision A business plan helps you articulate the vision for your enterprise. It forces you to think through every aspect of your business, including…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Conflicting data: Is wage growth cooling down or heating up? While the official ABS data showed the Wage Price Index (WPI) rose 0.8% in June quarter 2024, and 4.1% for the year, the reality on the ground might be over double that, according to payroll platform Employment Hero. E-commerce…  Read more

Welcome to our Weekly Digest – stay in the know with recent news updates relevant to business and the economy. Australian shares follow Wall Street’s lead after jobs data calms recession fears A week after US jobs data sent global financial markets into a panic, a strong rally on Wall Street has seen the S&P 500 record its best day since November 2022 — erasing almost all of the losses…  Read more

When you run your small business, you have a lot on your plate. That makes it tempting to let some tasks slide, especially tasks that are related to finances, which can be challenging and often outside your preferred skill set or experience. Here are some financial best practices for managing your business, so you can have the best chances of success. Pay yourself As a small business owner you may…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Hope for homeowners as RBA tipped to slash interest rates by Christmas The Reserve Bank of Australia (RBA) is tipped to keep interest rates on hold next week, but hard-pressed mortgage holders should expect a cut by Christmas. From 36 economic experts canvassed in the latest Finder Cash Rate…  Read more

Running a business is hard enough without having to wrestle with out-of-date accounting records. That’s where cloud accounting comes in—a modern solution that can make your life a whole lot easier. This article explores why small businesses should embrace cloud accounting and how it can drive your success. What is Cloud Accounting? Cloud accounting involves using online software to manage your financial records. Unlike traditional desktop accounting software, cloud-based solutions…  Read more

Welcome to our Weekly Digest – stay in the know with recent news updates relevant to business and the economy. Hints on state of economy as cost relief kicks in Experts will scour the first trickle of financial data for early clues on the state of Australia’s economy since tax relief kicked in. The purchasing managers’ indexes for the manufacturing and services sectors land this week, as pay packets rise…  Read more

From terrorism to fire, from extreme weather or earthquakes to cyber-attacks – how would your business cope if it was affected?  Would your staff know what to do? Would you be able to keep trading? Having a contingency plan is not just a precaution; it’s a necessity. Small businesses need to be prepared for a range of scenarios. Without a solid contingency plan, your business could face significant setbacks or…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Latest NAB survey shows growing concerns among businesses about Australia’s economy Australian businesses are becoming more concerned about the outlook for the economy as forward-looking indicators in National Australia Bank’s fresh survey revealed a softening. The bank’s latest quarterly business survey on Thursday revealed expected business conditions fell at…  Read more

As a business owner, you’ll need to stay informed about your finances and your financial situation. You do this through bookkeeping. Bookkeeping is the process of recording transactions in your business. This includes any transactions, credit card charges and any other financial activity that happens within your company. How good bookkeeping helps you Bookkeeping is vital for any business. First, it helps you understand your finances. Bookkeeping gives you insights…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. The Australian dollar is showing some strength, and that could be good news for travellers For a relatively small, open economy, Australia’s currency is heavily traded. In fact, it’s on the podium for one of the world’s most traded. So it’s known to be pushed and pulled on global…  Read more

Selecting the right accounting software is a crucial decision for your small business’s financial health and accuracy. With numerous options available, this process can seem daunting, but making an informed choice is essential to streamline operations and mitigate risks such as financial fraud and regulatory non-compliance. Introduction The challenge of choosing appropriate accounting software stems from the need to balance functionality, ease of use, and cost-effectiveness. As cloud computing continues…  Read more