Are your clients not paying on time? Overdue debts can cause serious cash flow problems within your business so it’s important to make sure you have a good process in place for getting paid. We’ve previously shared tips on recovering debt but if you have a good system in place you can prevent customers from owing you overdue money in the first place. Remember, prevention is better than collection! Here are ways to prevent client debt:

As a business owner, your business’s financial health is of the greatest importance. There is more to measuring the financial health of your business, however than simply looking at how much money is in your bank. In fact, there are many tell-tale signs that indicate your business is financially unhealthy. Recognising them can make all the difference in ensuring your business survives. Let’s take a look at 5 signs of poor financial health in small businesses.

Tax planning is about dedicating time and expertise to planning the best tax strategy for you. There’s no one-size-fits-all approach to tax planning. The goal is to reduce your taxable income so you pay less tax. And by doing so, you’ll maximise the money you keep hold of to spend on whatever you choose.

Good news starting off 2021: the JobMaker Hiring Credit legislation has now been passed into law! This credit is part of the 2020-21 Budget, which is in place until 6th October 2022. We’re breaking down what this means for you below:

We are nearing the end of 2020, a year that can only be described as difficult. The pandemic aside, it seems every person you talk to has faced at least one major struggle or personal hardship. From a business standpoint, it’s safe to say every business owner has experienced a major shift in their company and the way that it operates. But as with any difficult time, there are always lessons to be learnt. Here are 3 lessons to take from 2020:

As a small business owner on a limited budget, you may think that the cost of an accountant is not the best use of your money. If you have a background in accounting and a solid understanding of finances, it may be a good place to cut costs. However, if you are lacking experience in accounting and bookkeeping and hope to just learn as you go, you may be hurting your business in the long run and making a costly mistake.