Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. What an American recession means for Australia What exactly does it mean for Australia if the United States is headed for a recession? Sky News breaks it down here. ASX continues to drop Most of Australia’s biggest companies continued to see major slides in the stock market last week,… Read more
Early retirement may sound like a big dream, but it is achievable if you’re willing to do some planning and stick to your strategy. Here are four steps you can take to put yourself in a position to retire early. 1. Figure out how much money you’ll need after you retire This involves figuring out what age you want to retire at–if you want to retire at 55 you’ll need… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Changes to aged care payment system Services Australia is updating the aged care payment system. Residential aged care services events won’t be able to be submitted between 14 to 22 July. Read the details here. Food tech company NotCo expanding into Australia The company produces plant-based milk, beef, and… Read more
When it comes to an investment strategy, there are an almost endless number of paths you can take. Depending on your overall priorities, needs, and values you can follow any established formula or set your own path. One path that has numerous benefits is long-term investing. In long-term investing you put your money in an investment with the goal of leaving it there for a long time. You’re not buying… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. ATO reminds Australians about changes this tax season The Australian Tax Office anticipates that many will continue to be impacted by COVID-19, and is offering support to get your taxes right the first time. A summary can be found here. Cash rate expected to rise this week The official… Read more
When you’re in business for long enough, you’ll likely come up with new ideas you want to try. Innovation is important for your company to grow, to diversify its income, and to attract new customers. An important step between having an idea and jumping into it is testing the idea. Here are some important ways to test your idea, so you can launch it with confidence. 1. Talk to people… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. ASX carries momentum into a new week The local sharemarket started the week at a three-week high, coming off a rally from last week. Tech and payment firms were among the industries leading the charge. Bubs jumps 80% as deal struck to aid US Baby formula manufacturer Bubs Australia… Read more
Whether your small business is business-to-business (B2B) or business-to-consumer (B2C), you likely deal with some level of customer churn, especially given the COVID-19 pandemic. Even customers who love your business and your products may have lapsed for a variety of reasons. Whatever their reasons for leaving, it’s still a great idea to try to win them back. Why? Mainly because winning back a lost customer still has a higher success… Read more
Australia Weekly Digest – 25 May 2022 Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Antony Albanese becomes Australia’s PM First Labor PM in nearly a decade vows to bring Australians together, and “promote unity and optimism, not fear and division.” ASX sinks again after Wall Street “bloodbath” The stock market was down again last week, taking… Read more
Traditionally, employers have relied on giving employees raises as a way to retain their staff and reward them for being hard-working and loyal. Raises can get expensive, and there is often an upper limit for what you can offer when it comes to increasing salaries and wages. Keeping your employees happy makes business sense. You want to keep your good employees, and it costs money to find, hire and train… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Changes to company tax rates are in effect Companies, corporate earning trusts, and public trading trusts may be eligible for a reduced tax rate this season. Learn more about the changes and find out who qualifies here. STP Phase 2 requires more information when submitting payroll Single Touch Payroll… Read more
Small business owners often feel that they have to do something to stand out from the crowd and attract an audience. If that’s how you feel, you’re definitely not alone. Many business owners try to stand out by creating fancy websites that grab attention. Those may work in the short term, but it’s worth considering other ways to market yourself as an industry leader and build relationships with your ideal… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. GST fraud attempts circulating on social media lead to extra security measures Due to a significant number of GST refund fraud attempts, legitimate businesses may face extra steps to receive their refunds as extra security measures are put in place. Tighter controls around ABN and GST registration have been… Read more
With social media, you can connect with business associates quickly and creatively. But this communication mode is not without risk. A thoughtless post can offend customers and other business partners and damage relationships rather than build them. By following a few ground rules you can be confident your comments and posts will be appropriate ones. Check Your Messages for Grammar and Spelling Your co-workers and business partners evaluate your communication… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. More Australians turning away from home ownership A new study suggests that younger Australians are choosing to invest their money in stocks over buying a home. Around 43 percent said they would choose to invest their money instead of spending it, and 38 percent of those saying they would… Read more
With social media, you can connect with business associates quickly and creatively. But this communication mode is not without risk. A thoughtless post can offend customers and other business partners and damage relationships rather than build them. By following a few ground rules you can be confident your comments and posts will be appropriate ones. Abstain From Posting or Tweeting Certain Information If you aren’t sure it’s acceptable to post… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Xero Report: Small Business Creation at Record Levels Landmark research from Xero has revealed new small business registrations in Australia are at unprecedented levels, growing 34% from 225,000 in 2019 to over 300,000 in 2021. Over the next 10 years, an estimated 3.5 million small businesses are expected to… Read more
“How much should I spend on marketing?” Most small business people ask me this question at some stage. Many small business people find working out how much to spend on marketing a tricky exercise to calculate. Generally there are five ways to work out a marketing budget for the year. Remember that these are marketing budgets, not advertising budgets. Marketing covers everything you do in your business that creates awareness,… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Latest Changes in Travel Rules The requirement for people travelling to Australia from overseas to test negative for COVID-19 before arrival has been lifted. A ban on international cruise ships coming to the country and a rule preventing rapid antigen testing price gouging have also ended. You can find… Read more
Everyone wants to achieve financial independence. However, until you have enough income-generating assets, you are unfortunately dependent on someone else such as your employer. Investing in properties, when done right, can provide an ongoing income stream and a cash lump sum when you decide to sell it. If you are a first time property investor, check out these five tips that can help you along your journey towards financial independence.… Read more