Business owners have had their fair share of adversity over the last few years and despite this, they have shown great resilience.
As always, the months have flown by, and we're already nearing the end of financial year. Here's a handy checklist to run through to make sure you're all up to speed as June 30 closes in.
Cash flow is the lifeblood of your business. There are so many profitable businesses that run into the ground because they don't manage their cash flow properly. Here's one area you can focus on to help stay out of the red.
What you need to know about your obligations to ASIC, and how an ASIC Agent can help ease the workload (and headache) of meeting these obligations.
Running a business can be an isolating experience. And, with COVID-19 lockdowns and disruptions to trade, the pressure can be intense.
The ATO is taking a stand against structures designed to divert income and reduce taxable income, which are prominent in professional service firms.
Eligible businesses will immediately be able to deduct the cost of new depreciable assets and the cost of improvements to existing assets in the first year of use.
If you are selling your business, merging, acquiring, or inviting in new investors, you need to understand the value of your business. But, to what degree does the pandemic impact on value? Should you discount or hold firm to pre COVID-19 performance on the basis that ‘we’re going to come out of it eventually’?
Business operators should have a plan in place to manage during uncertain times like these, even if your business is not directly impacted. But how do you plan for uncertainty when every assumption is subject to change?
Whether it is the coronavirus, fire or flood, the fact is if you are in business long enough you will almost certainly have to deal with an external impact on your business. How do you become a resilient business?