Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. A budget that is “resilient” but not “fancy” The Albanese government released its first budget this week, with promises that it will be well-funded, but not excessive. It’s expected that this budget will lay the groundwork for bigger changes next year. $21bn in government spending to be slashed After… Read more
Few business owners enjoy breaking the news of an upcoming price increase. However, when you own a business you have to deal with ever-increasing costs. Although inflation is an unpleasant part of life, it is still part of life. Price increases are inevitable for a sustainable business. If you want to stay afloat, you’ll have to do them – and regularly. Read on for some tips on how to determine… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Rental market still under considerable stress At the beginning of 2020, a mass exodus of people from Australia as borders closed led many to believe that the pressure on our housing market would be alleviated. However, the opposite has happened, with rents still sky high across the country. Six… Read more
Upgrading or changing your payroll system comes with a ton of wonderful benefits. Saving time and money, making everyone’s lives easier, and better integration are all good reasons to consider a change. But if the switch is mishandled, the results can be catastrophic and lead to long-lasting problems. Read on for some tips on how to avoid a disastrous payroll system migration. 1. Give the project the time it needs… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Albanese not backing down on tax cuts On Monday, the Prime Minister confirmed that he would not be changing his mind and would go ahead with the contentious Stage 3 tax cuts by the May 2023 budget. The tax cuts are largely beneficial for the wealthiest Australians. Banks pass… Read more
In a world with endless distractions, it’s no wonder that we find it difficult to complete tasks. Focus is hard to come by these days. This is especially true when you’re working from home. Household tasks that would otherwise be out of sight and out of mind are suddenly in your workspace. With that said, there are some proven methods to help you get things done. Time blocking and Time… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Renewed hope for small business sector New data from Xero and the Australian Bureau of Statistics suggests that small businesses are doing better than before, but economists warn there may be more beneath the promising numbers. We have more millionaires than ever before According to Credit Suisse’s most recent… Read more
When starting a small business, business owners often think about things like the storefront, branding, and displays. They think of smiling employees and happy customers. It’s not usually the image of the shelves and cupboards in the back stockroom that fill their heads. But inventory is a critical component of your business. Sales are made and lost because of inventory control so it can’t be overlooked or left to sort… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Permit and dining fees set to return to Melbourne To ease the burden of the pandemic, the city allowed alfresco dining options at restaurants without having to pay a fee. Now that business is bouncing back, Melbourne is seeking to reestablish the permits traditionally required after waiving $2.36 million… Read more
When you start a small business, it’s usually only you behind the whole operation. You wear many hats, from CEO to clean-up crew. As you pour your heart and soul into your business and it begins to grow, the amount of work involved grows with it. Because a small business is so focused on survival, you pay a lot of attention to the bottom line. This makes a lot of… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Unprecedented rental demand could affect interest rates As the RBA raises the cash rate to ease inflation, the astounding rise in rent prices will begin to factor into the inflation data – leading to higher interest rates. Air New Zealand flies nonstop from Auckland to New York for the… Read more
As prices continue to rise, you’ve likely noticed that your cost of doing business has increased as well. With that in mind, you may be considering raising your prices – as you should. After all, the main point of any business is to make money, and you can’t do that if you’re no longer breaking even. Read on to discover some tips on how to raise your prices, and how… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. All big four banks now aligned with Reserve Bank’s rate rise After last week’s decision by the Reserve Bank to raise the official cash rate to 2.35 per cent, Westpac is the last of the big four banks to raise its interest rate to align. Public holiday may hurt… Read more
When it comes to hiring seasonal employees, business owners tend to fall into two groups. Some look forward to hiring temporary workers, knowing that the need for seasonal workers reflects a business season. Some feel that it’s a necessary evil to get through times where the workload is heavy and the permanent workforce is lean. Unfortunately, the attitude is that seasonal employees are temporary, and are therefore not as skilled… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Property values experience biggest drop in nearly 40 years In August, Australian property values suffered their biggest monthly drop since 1983 as the market’s downturn accelerated. Every capital city apart from Darwin is now in a housing downturn. Large percentage of ParentsNext facilitators filing false claims Job agencies running… Read more
There are a few different methods that employers use to pay their employees, and while they may have similarities, they each also have their own implications for your business and its employees. On top of that, there may be a blended model at play, in which you offer two types of compensation at once, such as a wage and bonuses. How you pay your employees will impact your finances and… Read more
There are many types of insurance for individuals, and choosing the right ones for you can be overwhelming. These policies are distinct, yet they often overlap. It’s smart to review your personal insurance policies any time you have a significant life event. This ensures that you and your loved ones are cared for should you find yourself unable to work. Read on for a brief explanation of the different types… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Consensus emerging on how to fill gaps in the workforce Big business is calling for a two-year boost to the annual migration intake of 220,000 for all jobs earning more than $90,000. Qantas optimistic despite posting loss Qantas revealed its full-year results last week – a $1.86 billion loss.… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Sellers still making massive profits despite interest rate rises New data from PropTrack has revealed the suburbs where sellers are still making a lot of money off of selling their homes. As interest rates started to climb in May, property values have decreased, but some areas are holding steady.… Read more
It’s an inevitability in every business – you have to raise your prices to continue making a profit. There are many factors that go into deciding how much to charge, all of which are dynamic. The rising cost of goods, inflation, and a changing market are just a few reasons why any small business has to reevaluate its rates regularly to stay competitive (and to stay in business). While it… Read more