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With a hint of warmer weather, earlier sunrises and seeds sprouting, Spring has sprung, bringing with it the promise of new beginnings. This season radiates energy, and a sense of opportunity and growth. As we put away our winter coats and scarves, who doesn't want to open windows and dust away the cobwebs in our homes and our minds?
Take that thought and if you are a Small Business what better time to ‘spring clean’ your Business?
The Importance of Spring Cleaning your Business:
Spring cleaning is the chance to declutter and cleanup workspaces, to review, revitalize and revigorate operations and resources, human and equipment. These actions nurture enthusiasm and optimism bringing new energy to the Business and Team. A great way to boost morale and productivity!
Don’t wait, roll-up your sleeves and get started with these Tips:
- Review and Update Your Business Plan
- Conduct a Financial Health Checkup
- Streamline Your Processes and Systems
- Build your Team
- Refresh Branding and Marketing material
- Evaluate and Enhance your Customer Service
- Cleanup Your Digital Workspace
1.Review and Update Your Business Plan
Take the time to revisit and revise your Plan as needed. Review and reflect. What is your Business Vision and Strategic goals. Most importantly, what actions are needed to make them happen with the desired results?
2.Conduct a Financial Health Checkup
Examine the ‘books’ to know what's coming in and out and compare to the Budget. Revise forecasts if needed. Analyse expenses, look for cost-savings, and fine-tune activities as required. Financial optimization equals a Healthy Business.
Unlocking Success – How to Get the Best Results for Your Business
And don’t we all want that!
If you’re not achieving the results you want our BBB is a must attend!
- Learn How to build a Better Business, YOUR Business
- Learn Strategies, Techniques and Tips to make your Business the success it and you deserve!
Take action today for a successful future, your future!
Session dates – ‘Setting the Stage for Success’
Wednesday 1st November 2023
5.30pm to 7.30pm
Venue 931 Albany Hwy East Victoria Park
Tuesday 7th November 2023
5.30pm to 7.30pm
Venue 931 Albany Hwy East Victoria Park
Friday 17th November 2023
9.30am to 11.30am Perth WA
ONLINE Zoom
Cost only $30 per Session
Here is what you will learn from the Session:
- Understand the crucial elements to Realise a Better Business
- Identify the key roadblocks that are holding you back
- Develop clear direction and how to do it
1 day Workshop – ‘Unlocking Success – How to Get the Best Results for Your Business’
Friday 8th December 2023
10am to 3pm
Venue 931 Albany Hwy East Victoria Park
Cost $295 (Meals inc)
Here is what you will learn from the Workshop:
- Crafting a solid Business Strategy that drives results
- Defining target audience and tailoring your offerings to meet their needs
- Implementing effective Marketing Strategies to reach and engage Customers
- Engage in activities and receive valuable related material
Tackling a home renovation, making your own wedding gown or planning your retirement, is it a 'do-it-yourself' task or one that requires the skills of a professional!
Yes, that is the critical Question to ask yourself before deciding.
With any task it's about joining all the pieces of the puzzle together, to fit, function and peform to produce a successful outcome, and we know that can be tricky and challenging. For that very reason it's worth asking the questions, more importantly considering the pros and cons of, DIY or engage a Professional!
We have all heard the arguments for DIY, do it yourself, its cheaper that hiring an expert, surely it can't be that hard a task and DIY can be fun and rewarding. And don't forget the heaps of free advice from friends and 'web'.
Now ask yourself these 7 Questions, and answer honestly before deciding!
- do I have the necessary skills and abilities
- do I have the 'expert' subject knowledge needed
- what do I know and dont know
- is this a job I can tackle and learn as I go
- do I have the right tools and equipment
- what are the possible risks, accident and financial
- and critically, do I have the time!
How did you rate yourself?
As a general rule, the tip is to only undertake projects you feel comforatble with and have the skill set to complete them with 'best' possible results. This applies to any job that needs professional skills and knowledge to fully complete the task successfully. And don't we all want that!
If you have answered yes to the above, consider carefully the benefits of engaging a Professional.
These include:
- the contractor is qualified in the field of work
- has the necessary 'tools' and equipment
- provides cost effective expertise
- ensures the job will done correctly (to any regulations, specifications and your requirements)
- in the end it delivers savings in time, effort and cost.
With these positives in mind it makes good sense that with something as important as taxation matters, unless you are a tax expert, why wouldn't you engage a professional Accountant?
There is much to know about Superannuation and the following is provided to get you started.
Review your Concessional Contributions (CC) option and new rules:
The Government changed the contribution rates from 1 July 2020 to extend the ability to make contributions from age 65 up to age 67.
Maximise contributions up to CC cap of $27,500 per annum. Be careful not to exceed your limit if your Total Super Balance exceeds $500,000.
It's important to look after your Super!
Need help contact Blackburn Accounting we will answer your queries and sort out any problems.
Checklist for Employers – Superannuation obligations:
As an Employer part of your obligations is to pay Super Guarantee (SG).
Paying your Employees the right amount of Super,have you determined,
- which employees are eligible for super contributions?
- are any contractors eligible for super contributions?
- what payments are considered ordinary time earnings?
- should you apply for a certificate of coverage for employees you are sending overseas?
Have questions, need to know more, if you are a Business owner Blackburn Accounting is available to provide professional advice. We offer a broad range of services including personal, Family Business Management, Cashflow Management and Business Development.
The ATO website also provides information.
The Great Debate!
From articles circulated and conversations overheard, opinion has it that both scenarios, the Office or Working from Home, have their positive and negative aspects! Most likely you have expressed your thoughts, whether as a Small Business owner or employee or both!
But isn't the answer simply, ‘finding the RIGHT balance for optimal productivity in any work environment’?
YES!
Don't wait, act now! Smart Businesses tailor their approaches to suit the needs of employees and provide ongoing support to get the best results and outcomes for all parties.
In essence, where there is the opportunity, the solution lies in offering various working models, Office, Home or Hybrid arrangements.
But let’s take a closer look and examine the question considering the arguments, the pros and cons of both positions.
The Advantages of Working in an Office Environment:
- Provides the opportunity for Teamwork, collaboration and social connection and the benefits found as part of the office culture.
- Fosters increased productivity by providing peer support, and face to face interaction that allows for better communication and problem-solving.
- Greater overall career development and growth opportunities in this setting
The Benefits of Working from Home for Increased Productivity:
- The advantages include providing personalised workspace, flexibility in routines, and reduced stress with efficiency gains in time and travel avoiding long commutes.
- This model is particularly suited to the self-motivated, highly organized and disciplined worker.
- There was increased productivity in occupations that required a high degree of focusedor independent work such as software engineers.
The Challenges of Maintaining Productivity in the Office Situation:
Your Accounting Partner
Your Management Accounting Partner
Your Expansion Engineer
Your Special Projects Partner