A beginner’s guide to cash flow forecasting

Nobody wants their business to fail. Although it’s impossible to predict the future with 100% accuracy, a cash flow forecast is a tool that will help you prepare for different possible scenarios in the future. In a nutshell, cash flow forecasting involves estimating how much cash will be coming in and out of your business within a certain period and gives you a clearer picture of your business’ financial health…  Read more

5 Xero mistakes business owners make and how to avoid them

If you’ve just started working with Xero, it is normal to make a few mistakes while you’re learning. We see mistakes that are quite common – and unfortunately costly – so you should be aware of them if you want to get the most out of Xero’s powerful cloud accounting system. 1. Not connecting all the bank and credit card accounts dedicated for your business Make sure that you keep…  Read more

Three tips for managing construction industry cashflow

Owning a small business in the construction industry can be incredibly stressful. In addition to the long days and difficult working conditions, you have to worry about cash flow issues. It can take a long time to collect on payment from your clients or contractors who hired your business, and in the meantime you have to pay employees, cover fixed expenses, buy supplies and pay your own subcontractors. Here are…  Read more

5 essential tips for new property investors

Everyone wants to achieve financial independence. However, until you have enough income-generating assets, you are unfortunately dependent on someone else such as your employer. Investing in properties, when done right, can provide an ongoing income stream and a cash lump sum when you decide to sell it. If you are a first time property investor, check out these five tips that can help you along your journey towards financial independence.…  Read more

Life lessons to teach your kids if you want them to be rich

Everyone wants the best for their children, and this includes being rich. Being rich is not just about money– it is about wealth in all aspects of life. In this article, we will share some life lessons you must teach your kids while they’re young to help them grow into adults who can build financial wealth, meaningful relationships, and an overall happy life. Lead by example Children learn from their…  Read more

Three finance options for your business

Most entrepreneurs find a time in their business when they need to access financing. It may be in the early stages of their business, when start-up costs for offices, equipment and employees must be covered. Or it may be later on, when they have to relocate, purchase more inventory or equipment, or market their business more aggressively. Financing a business can be scary, but there are many options for entrepreneurs…  Read more

Merry Christmas and Happy New Year!

Thank you so much for supporting us in 2020. We wish you all a very Merry Christmas and a safe and Happy New Year. We are looking forward to serving you again in 2021!  Read more

Early warning signs of insolvency to watch out for

Running a business isn’t exactly a walk in the park. It is definitely hard work, but a rewarding journey at the same time and you can probably attest to this yourself. Sometimes, things also don’t go as planned and you may find your business under financial distress. Suddenly you find yourself falling behind on due dates, suppliers are chasing for payments, and your stress levels are skyrocketing. Regardless of the…  Read more

How to move your brick and mortar retail store online

eCommerce is growing rapidly, and recent research estimates that it will make up over 22% of global retail sales by 2023. With these statistics and the changes COVID-19 has brought, it’s more important than ever to take your retail business online if you want to stay competitive. It adds another revenue stream and keeps your business humming even while your brick and mortar doors are closed. In this article, we…  Read more

How to create good habits in business

If you’re like most small business owners, there are never enough hours in the day to complete every task on your list. Often you’re faced with prioritizing what you need to do right now – deal with a customer, meet a deadline, attend an event – and the things you know you should do for the ongoing growth of your business. Scheduling time to attend to these business activities on…  Read more

Five ways to manage a healthy cash flow

We cannot stress further the importance of properly managing your cash flow to ensure the smooth running of your business. However, in times of crisis such as the ongoing COVID-19 pandemic, this becomes more than important– managing your cash becomes a necessity for survival. If you are experiencing cash flow troubles, here are five things you can do to manage your cash flow better. Check your expenses. Now is the…  Read more

5 most common accounting mistakes that could hurt your business

Many small business owners tend to handle their own accounting and bookkeeping, especially when they’ve just started out. However, keeping track of the finance-side of the business– everything from income to expenses to tax compliance– can be overwhelming. Mistakes can happen quite easily and can have costly consequences to your business. Below are five of the most common DIY accounting errors that you should avoid. Unorganised records It takes excellent…  Read more

7 practical tips to trim your overhead expenses

Every small business owner knows how challenging it is to cut down expenses without somehow compromising internal or external quality. Regardless of the nature of your business, the first step to reducing your overhead costs is to take the time to go through every single expense you have. Next, assess which ones are necessary for your business to operate smoothly, what can be trimmed down, and what can be eliminated…  Read more

8 things your invoice needs in order to get paid faster

So you’ve set up your business and sold some products and services. Now, you have to send an invoice to collect your payment. But what should you include on your invoices in order to get paid faster? Even if you’ve been running your business for a while, you might be missing other information that you should include. So here is a step-by-step guide on what to include on your invoices.…  Read more

Five ways to bring in more cash for your business

Now is the perfect time to evaluate your financial position and come up with innovative ways to add revenue streams and generate cash. Here are five ways you might consider to improve your cash inflow: 1. Evaluate your current company assets. Take a look at your assets, both fixed and human. Could you make slight pivots to create a new form of income? For instance, if you run a coffee…  Read more

4 payment options your small business should consider

When customers make a buying decision, they’re not just considering the quality and price of your products or services, they’re also evaluating the ease and convenience of the whole buying process. As a business owner, you should offer different payment options to provide the best customer experience and to ensure you receive timely payments Here are four ways your small business can accept payments in 2020: 1. Credit and debit…  Read more

Five simple marketing and promotion tips to help during COVID-19

In these difficult times, you may find your business slowing down and sales harder to come by. Given this trend, establishing and maintaining connections with existing and potential customers have become more important than ever. So here are some simple tips to help you step up your marketing game: 1. Strengthen your social media presence. With the extended lockdowns and social distancing rules in place, it is the perfect time…  Read more

Federal Budget 2020: What it means for you

The Federal Budget was released on Tuesday 6th October. This article has a good summary of the “Winners and Losers” of the Budget. You’ll also find a recap of the key points below. Key Points: This budget is based on economic assumptions including that there will be a COVID-19 vaccine rolled out by the end of 2021. Tax cuts for workers – more money in pockets for more Australians. JobMaker…  Read more

Why you need a COVID-19 financial plan

Countries in recession, unemployment rates rising, multiple economic indicators at their all-time lows, increased market volatility– these are just some of the economic impacts we’re seeing as a result of the pandemic. As we continue to battle the COVID-19 crisis, it is important for everyone, especially those who have had their income stream affected, to keep their finances in check and proactively find ways to navigate to recovery. By creating…  Read more

The worst business advice to follow

When you’re a small business owner, you get used to people giving you advice. Sometimes you seek out their insights while other times they share whether you want them to or not. While the advice is almost always well-intended, it’s not always good. In fact, sometimes it’s downright awful. Here are some tips that well-meaning people give to small business owners that definitely should not be followed. 1. Never turn…  Read more

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