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Time to review your Plan and Strategies,
• To better know and understand the current marketplace.
• Identify your current and potential customers. Ask yourself; How do I reach, attract and keep them!
• Be aware of demographics, the changing ‘face’ of consumers, their preferences, buying behaviours and habits.
• Identify trends
• Add new technology to the mix. Adopt, use to your advantage.

Look for opportunities, ‘one door closes, another opens’!
• review your product range/ line/ service
• be innovative in your thinking and actions
• seek, find solutions to problems. Reinvent if you have to.

Need help developing your Marketing Plan, contact Blackburn Accounting.
We can take you through the steps and process. We want your Business to succeed and know the importance of effective marketing strategies.
Marketing provides the opportunity ‘to show, tell and sell your products’. And who doesn’t want that!

Yes, then READ ON!
‘Cost of living under pressure from Inflation’.
It’s described as a ‘perfect storm’ of interconnected factors and events, that combined, are financially hurting us, be it at the supermarket, petrol pump, or utilities costs.
We can’t escape it but can we do anything to tackle the rising costs of living and turbulence of these inflationary times!
Yes we can, and it starts with some simple steps.
Begin by reading our following tips,

7 Ways to Tackle the Rising Cost of Living
1. Find ways to cut your energy usage, in the home, office or factory. Undertake an audit of all appliances and equipment to find savings. Know how to get the best output from your                  machinery and appliances. Check the Makers instructions.

2. Prepare a Budget for your Business and Household. Create and/or, review the existing one to see if and where there can be any trimmings and savings. Monitor closely.

3. Shop wisely only buying essentials, for both Households and Businesses. Watch for specials and bonuses and negotiate best deals and packages. You don’t know if you don’t ask.                Importantly, Stick to your budget.

4. Check all your current loans and mortgages. Talk to your lender if needed. And be smart, shop around to find if you can get a better deal.

5. See if you, your Business is eligible for any Government subsidies, vouchers or benefits. Don’t be nervous when it comes to asking, and if you qualify accept it.

6. Overstocked, old stock or home clutter, sell ‘stuff’ you aren’t using or moving off the floor. There could be a ready buyer just around the corner waiting for your surplus items.

7. Build your resilience. Resilience is your ability to adapt and be flexible, and these strengths will help you better weather the storm. Feeling overwhelmed, seek professional help if your            health and well-being are affected.

What more can I do?
Rising costs are putting us all under strain and if you are a Business owner now is a time when counting the ‘dollars and cents’ is critical. You need to be on top of what’s coming in and what’s going out. What is your bottom line!
To support that, it is crucial to have sound accounting systems in place to be in a position to manage and know the true state of your Business financial affairs at any given time. What are my costs, overheads, revenue streams!
What are my debts, what am I owed!!!

Who can I turn to?
If you are struggling, need professional accounting advice, this is where Blackburn Accounting can help you during these turbulent times. We can guide you thru the storm.
Whether it’s Bookkeeping, Cashflow Management, Business Development, or Taxation, we are available to help you get on top of things. The Blackburn Team is here to provide the answers you need to run a successful Business that’s running at peak performance.

Call us if you want to:
• Increase Business efficiency
• Stay in compliance with tax laws
• Boost your revenue and profits
• Have personalised service

What next!

Check out our website
 Tips for SMEs- How to Beat rising costs
 Schedule your Annual Business Planning Meeting
 Creating a Business Plan (what, why, how)
 6 Steps to Prepare a Basic Business Budget

And there’s more……

1. Evaluate your Businesses flexibility.  Firstly look closely at all activities involved in the Business operation, then evaluate the flexibility of the production line itself.

 

1. A stress-free tax time is all about good record-keeping. You need to account for every dollar that comes in and goes out of your Business. Be prepared!

2. Start organising your paperwork. If you have a ‘shoe-box’ or bottom drawer of unsorted papers now is the time to start filing.

3. Missing copies of claimable receipts or expense records, follow-up now to avoid stress later.

4. COVID concessions. Are you eligible for any funding/allowances? Check with WA State Government or Federal Govt. sources.

5. Working from home? Keep copies and record any related expenses for ‘end of year’ claims.

6. Have any Questions regarding your Taxation obligations or any reporting matters, contact your Accountant. Act now!

7. Need help! Need an Accountant? Contact Blackburn Accounting we can help you.

We are ‘Your Family Business Specialists!