While it may seem like your working years last forever, retirement still has a way of sneaking up on you. As the years go by, what once seemed like a far off dream can suddenly feel incredibly close. Planning for your retirement might seem like something you can put off until tomorrow–or next year–but the earlier you do it the more time you’ll have to make sure your finances are… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Banks ordered to refund millions of Aussies Nearly two million Aussies could soon receive hundreds of dollars after multiple major banks were ordered to issue more than $28m in refunds. A report by ASIC reveals that some banks have kept low-income customers in high-fee accounts, leading to financial strain.… Read more
Assessing the viability of your new idea is an essential part of market research. While seeking input from friends and family is common, gathering information from the market itself can provide more accurate insights. Here are 4 effective research tactics to collect accurate information about your business idea: Harness the power of the internet Leverage the power of the internet to explore your chosen market. Investigate your main competitors, their… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Survey reveals Australian CEOs confident of economic improvement KPMG CEO Andrew Yates has revealed some of the big economic pressures that chief executives are currently feeling at the moment. Mr Yates joined Sky News Business Reporter Ed Boyd to discuss KPMG’s annual CEO survey that revealed one in two… Read more
Managing cash flow is crucial for small business owners. Even if your business is profitable, poor cash flow management can create significant challenges. In this guide, we’ll share practical tips to help you avoid a cash flow crisis and ensure your business remains financially healthy. Understanding cash flow Cash flow refers to the money moving in and out of your business. Cash inflows come from sales, interest earned, and investments.… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Leading Australian economists tip interest cut rate in February Leading Australian economists say the RBA will deliver a gift to cash-strapped households in February, but one key player is holding firm on a rate cut this year. Polling of 34 keen Australian economic minds shows 15 of the experts… Read more
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