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Blog
5 Signs You’re Undercharging
Are you undercharging for your services? It can be hard to tell, particularly if you’re in a niche industry or you’re a contractor. Costs have been rising, so it may be time to rethink your own pricing. Here are five signs that you might be undercharging: Nobody ever...
Hiring employees who share your core values
At the beginning of your startup journey, you and your co-founders will be in charge of selecting and hiring the key members of your new team. The people you choose will identify with your core aims for the business and will (usually) share your core values too. For...
Understanding Your Breakeven Point
Understanding your business breakeven point is essential to know how much money you need to make to stay in business. It can therefore help you make well-informed financial decisions and practical business plans. The breakeven point is the income or sales needed to...
Paid Family and Domestic Violence Leave – New Entitlement Rules
Employees have had an entitlement to unpaid family and domestic violence leave (FDVL) for some time as part of the National Employment Standards (NES). This converts to a paid leave entitlement from 1 February 2023 for larger employers and 1 August 2023 for small...
Do Your Employees Want to Cash Out Annual Leave? Here’s the lowdown.
Are your staff asking to cash out annual leave? There are some important rules to remember before paying out annual leave. Firstly, you must review the employee’s modern award to check that cashing out leave is explicitly allowed. Most awards do allow for excess...
Holiday cashflow for your small business
Whether you’re heading into a holiday period, or just planning to take a break, it’s important to keep your cashflow under control. This means pre-planning and being proactive. A healthy business includes a work-life balance. When you’re not in the office, there are...
GST on Business Purchases from Overseas
Does your business buy products and services from overseas suppliers? If so, you may be charged GST (but not always). Overseas businesses must register for GST in Australia, if they have a turnover of more than $75,000 for sales connected with Australia. Many large...
How to make your retail business recession-proof
The world is going through some crazy times. Whether you’re still selling online, doing click and collect, or not selling at all — there are steps you can take now to minimise the impact of a recession or protect your business from it. Invest in digital...
Leveraging the ‘SME Advantage’
Economic reports have painted a consistently challenging picture for Australian employers and business owners, with shortages of skilled staff in a tight labour market, fast-growing levels of employee turnover, low unemployment, and wages rising as inflation surges....
Can you turn the supply chain crisis into a business opportunity?
The ongoing supply chain crisis is slowing down production and pushing up prices. But there might be a way to turn this business challenge to your advantage! If you’re a business-to-business (B2B) supplier, this could be a golden opportunity to become a supply chain...