Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. This is the last weekly digest for the year. We hope you have a relaxing holiday break and we’ll be back with more updates in the New Year. Government Rules Out Lockdowns Despite Omicron Surge Prime Minister Scott Morrison said Australia must move past “the heavy hand of government”… Read more
You’ve probably heard the maxim that it’s better to work smarter than harder. Working smarter means allocating your time, energy and money so vital tasks get done more efficiently, freeing up your personal time. Too many business owners think they must keep working harder—taking on more responsibilities and working longer hours—to be successful. It makes sense, because you’re responsible for your business, but that route leads to work overload and… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Moderna and Australian Government Partnered to Bring Manufacturing to Australia Moderna, Inc. announced an agreement with the Australian Government to build a state-of-the-art messenger RNA (mRNA) vaccine manufacturing facility in Victoria, including access to Moderna’s mRNA development engine. Up to 100 million mRNA vaccine doses could be produced in… Read more
Your business needs cash. Cash is what keeps your company in operation and enables it to grow, so you should know how much cash your business needs to survive. Although many people think the answer is linked solely to operating expenses, this isn’t the case. There is no single factor that determines how much cash every business needs to have on hand. Somewhere between 3-6 months of operating expenses is… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Queensland Border Reopening Requirements The Queensland border will open at 1 am on 13 December, earlier than expected. Fully vaccinated people from declared “hotspots” – that includes NSW, Victoria and South Australia- will be able to enter by road or air. Those crossing into Queensland from a declared hotspot… Read more
If you’ve been considering making the move to a cloud-based accounting system, you’re not alone. Cloud technology has impacted many business functions, including making managing financial aspects of your business easier and more efficient. Cloud-based accounting moves your accounting from being hosted on your computer’s harddrive to an online platform. Cloud-based platforms like QuickBooks and Xero offer important features that save you time and money, freeing you up to focus… Read more
More companies are exploring their options when it comes to employees working remotely. There are numerous reasons for doing so: Increased worker morale More flexibility in work schedules Enhanced cost savings by not paying for office space. With all the benefits, it makes sense that employers are considering whether or not working from home can work for their team. Here are 3 steps you can take to make working remotely… Read more
If you’re looking for people to invest in your business, be prepared to answer some important questions. Investors look for smart investment opportunities—that means they want to find out as much as they can about you and your business before they make a decision about whether or not to invest with you. It’s vital to have well thought-out answers to investors’ questions. Give them evidence you’ve thoroughly examined your business… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. International Border Reopening for Skilled Workers and Students Delayed Plans to reopen international borders to skilled workers and students have been halted due to concerns over the COVID-19 Omicron variant. The 1 December opening will be delayed by at least two weeks, including the plan to open the border… Read more
There’s a lot of data supporting the idea that it’s less costly, easier and more efficient to encourage repeat customers than bring in new ones. Among the stats Hubspot lists are that a 5% increase in customer retention is responsible for more than 25% increase in profit; repeat customers are 9 times more likely to convert than first-time visitors; and a 2% increase in customer retention has a similar impact… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Australia to Reopen to Foreign Visa Holders Australia will allow foreign visa holders to enter the country from the start of December in a bid to revive the economy. International borders have been shut since May 2020 and allowed only restricted numbers of citizens and permanent residents to enter… Read more
The start of a business is an exciting time. You’ve got a great idea for a business and are enthusiastic to get started. It’s important to plan ahead to give your business the best chances for success. Planning ahead means anticipating challenges and developing ways to successfully address them, so they don’t upend your start-up. Here are three reasons why start-ups fail and ways you can avoid them Lack of… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Australia Hits 90% Single-Dose Mark Australia has hit a new milestone, with 90% of those who are 16 years old and above having received at least one dose of a COVID-19 vaccine. This makes every state and territory on track to hit 80% fully vaccinated by the end of… Read more
Receipts are vital to successfully running a business. You need receipts to track your purchases and expenses. Your clients need receipts for their tax purposes and to manage their finances. Paper receipts have been around a long time, so many people are used to them and may even be resistant to moving away from them. Thanks to technology, paper receipts are becoming more a thing of the past. There are… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. $44 Million Recovery Package for Melbourne The Melbourne Money scheme is returning to the CBD, with the state government and City of Melbourne launching a $200m “revitalisation fund”. From 15 November, those dining in the CBD between Monday and Thursday can claim a 30% discount – of up to… Read more
One classic mistake business owners make when money gets tight is to stop marketing or cut their marketing budget. At first glance, it seems logical to cut down your expenses during tough economic conditions. However, in reality, it’s the opposite of what you should do. When your business is struggling, cutting your marketing budget will further hurt your business. It is during this time that you should go the extra… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Borders are reopening! After closing its international borders for nearly 600 days, Australia is now open to foreign visitors starting on Monday, as restrictions gradually lift. Fully vaccinated travelers from New Zealand who test negative in pre-departure tests can now enter and avoid quarantine in NSW. The next set… Read more
On average, small business owners spend 10 hours each week recording, organizing, and processing financial transactions – everything from accounts receivable and payable, to employee payments, expense receipts and supplier invoices. While the process may be time-consuming (and tedious!), effective bookkeeping is the foundation of sound financial management – which in turn, is the lifeblood of your business. Feeling overwhelmed by mountains of paperwork and complex calculations? Here are three… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Australia-Singapore Travel Lane Begins on 8 November Australia and Switzerland will join the eleven countries – including the United States, the United Kingdom, Spain, Italy and France – that have signed on to Singapore’s vaccination travel lane arrangement that replaces quarantine with COVID-19 testing pre-departure and on arrival. The… Read more
When it comes to the overall success of your business, one of the most important decisions you’ll face is how to price for the work you do. Charge too much and you could scare away potential customers. Charge too little and you could run yourself out of business. Figuring out how much to charge is stressful, but it’s worth it. If your business doesn’t bring in enough money to pay… Read more