If you are a small business entity (SBE) then you may be entitled to the accelerated depreciation provisions for the current financial year.
If you have started the year with a plan to position your business for a sale then you will need to have all of the pieces in place.
February tends to be the worst cashflow month for many SMEs. Mix the extra costs coming out of the holiday season, some downtime and the wind up for the new year and cash can be tight.
Another year is underway. Most businesses are now back on deck and it’s time to think about what is likely to occur over the coming months.
This article first appeared June 22, 2012. With warnings of a second global financial crisis and consumers at home who refuse to part with their cash, it may seem like hard times are ahead for Australian small businesses.
Depending on your business, Christmas is a time of peak sales or it’s a quieter period, allowing you time to reflect on how 2012 has treated you.
“I’m from the Tax Office and I’m here to help you.”
Record numbers of Australian entrepreneurs are looking to sell up and move onto other things, figures released this week contend.
In a lively speech delivered last week, former opposition leader Malcolm Turnbull covered everything from hard hats and fluoro vests to the embracing of “creative destruction” in his critique of Australia’s start-up scene.
The countdown to Christmas is now on. Lots of fun, lots of activity and the rush to get everything finished before the break.
Cashflow – it’s a vital ingredient for any small business. No matter how profitable you are, if the cash runs out you are in trouble.
With business insolvencies uncomfortably high, falling confidence and flat consumer spending, now isn’t the time to be indulgent with your late-paying customers.
Customers – we all have them and they are what keep us in business. But what is the risk that your customer could put you out of business?
In the early stages of most businesses it is all about growing the business, getting it to a sustainable level and then building the profits. Sooner or later, though, you will ask yourself the question – what is my business worth?
Home-based businesses might not have to worry about office rents and staff wages, but that doesn’t mean that they completely escape time-consuming red tape.
With the financial year finished, you may be looking at your end of year position. Hopefully it is a nice healthy profit, in which case you may be thinking about the best way to manage those profits for tax purposes. Everyone will agree that the less tax you have to pay the better.
The end of the financial year has come and gone but that doesn’t mean you can become complacent about the role of tax in your business.
The weekend will see the end of the 2011-12 financial year, one that has seen start-ups under pressure from continued consumer caution and a tricky funding environment, with insolvency figures creeping steadily upwards.
The end of the financial year is now just weeks away.
Starting a business invariably involves a series of “obvious” costs such as finding and fitting out business premises, permits and licenses, inventory and equipment, and initial marketing costs.