To make a business more profitable, owners and managers need to look into ways to increase sales revenue, decrease costs and benchmark the business to see where money can be saved. Strategies to increase revenue Increase the productivity levels of your staff by recognising and rewarding staff contributions with performance reviews. Teach staff sales skills […]

Entrepreneurs like to be in charge. You start your business so you can call the shots – not someone else. But if you want to grow your business, you’re going to have to learn to give responsibility to others. The question is – how do you become a leader, not just a manager, of others? […]

Wealthier individuals in Australia may have to pay higher taxes on their superannuation in the near future, with the government hinting that superannuation tax concessions will be reorganised to target those who are most at risk of relying on the age pension in retirement. Industry groups are expected to be advised of the proposed changes […]

Franking credits are a kind of tax credit that allows Australian companies to pass on the tax paid at company level to shareholders. Franking credits can reduce the income tax paid on dividends or potentially be received as a tax refund. Where a company distributes fully franked dividends (and those dividends are included in the […]

The start of a new year often sees small businesses reviewing the past year on what worked well and what needs improvement, and using those reflections to set new goals for the year ahead. What many businesses fail to do at the start of the new year is legal compliance ‘housekeeping’. Changes in legislation and […]

There are many advantages to having a self-managed superannuation fund (SMSF). Increased flexibility and control over your savings are the most obvious benefits, with many SMSF trustees and members appreciating the ability to make their own investment decisions. Here are five tips that can help set your SMSF up for success in 2016: Have a […]

Over the last couple of decades, few things have changed the landscape for small businesses as much as the advent of huge megastores. Small businesses now need to get consumers to understand the importance and benefit of buying local; to recognise the ripple effect on the entire community that local purchases and local businesses have […]

It can be easy to waste a lot of time and money investing in the wrong marketing channels. But a business can only thrive through smart marketing. Here are five common mistakes that can emerge through the customer acquisition process you should avoid: Assuming first-time visitors will become loyal customersSavvy customer engagement involves retargeting. Once […]

Profit drivers are determinants that have a significant impact on a business’s bottom line. They are often categorised as financial and non-financial drivers. Financial profit drivers are directly connected with dollar figures and are most commonly considered in relation to profit. Examples of financial profit drivers include: price fixed and variable costs sales volume inventory […]

One of the biggest challenges facing businesses wanting to up their content marketing efforts in the year ahead is coming up with good ideas on a regular basis. Starting out in the content marketing game can be easy since a business can write about anything in their niche. But once those fresh new ideas are […]