Buying a franchise can be a great pathway to running your own business. Before signing on, make sure you’ve sought advice and considered these seven key areas.
How can you impact your profit as a small business owner? For most small businesses, making a profit is one of the most important goals. Profitability relies on a simple accounting equation: Income – Expenditure = Net Profit In other words, net profit is your business's profit after all business expenses have been deducted from your revenue...
If you supply goods or services for less than $1 million to the WA Government, new guidelines mean you will now receive payment within 20 days. From 1 October 2020, WA State Government agencies must ensure that all payments of less than $1 million for goods or services, excluding construction works, are made within 20 calendar days of: receiving a...
Making the decision to quit his fly-in, fly-out mining job to help care for his young son after a bout of surgery, Jordan Wilson knew he needed to change his career goal posts to a more family-friendly earner. But setting up Concept Tech, an IT business in Albany with wife Natasha, was a whole new ball game, so Jordan called on support from the...
If you’ve found yourself with a leaking roof or damage to your business premises, follow these tips to get it repaired asap.
Landing a big client is generally cause for celebration as a small business owner. If you’re signing a contract to supply a client with your products or services, you might be asked to commit to an exclusivity clause. An exclusivity clause means you are being asked to restrict your supply of products to just that client, industry or geographical...
Once you’ve developed your business plan, successfully launched your business and are starting to enjoy life as an entrepreneur, you may be thinking about the best ways to take your business to the next level. Whether you work from home or from other premises, one way to get more done in your business is to hire some extra hands to help. Hiring...
Using the Personal Property Securities Register (PPSR) can protect you when you’re buying, selling, leasing or hiring business assets.
Market research is essential for anyone looking to go into business, according to East Victoria Park business owner Shellie Attwood. “Don't just open something without looking around in the neighbourhood to see what is already there,” she advised. Shellie is the owner of Greenbunch, a florist, café and plant store along the popular hospitality...
There’s a common myth in small business that it’s a waste of time and effort to register for goods and services tax (GST) before your business generates $75,000 in revenue each year. Here’s the truth behind that myth and why you might need to consider GST registration sooner than you think. When you’re just starting out or coming through a tough...
Invoicing - something every business owner needs to know how to do, but are you getting it right? As a business owner, you’re required to provide proof of purchase within seven days and a tax invoice within 28 days of it being requested or having supplied goods and/or services.. Getting your invoicing right will not only save time, but will also...
If you’re a small business owner with limited resources, recruiting new staff can be a demanding exercise. To help you get through the process in a timely manner, we’ve put together tips to help you sort through job applications, run interviews and, most importantly, find the right person for the job. Identify the skills required Write down exactly...