5 Steps to Early Retirement

Xperion

For some people, early retirement is a choice. For others, it’s a necessity. Regardless of which group you fall into, there are some steps you can take to help make early retirement a reality and live the life you dream about. 1. Know your goals Before you know exactly how much money you need to save, you need to know your goals for retirement. Do you want to live in…  Read more

5 Xero Mistakes Business Owners Make and How To Avoid Them

Petra King

If you’ve just started working with Xero, it is normal to make a few mistakes while you’re learning. We see mistakes that are quite common – and unfortunately costly – so you should be aware of them if you want to get the most out of Xero’s powerful cloud accounting system. 1. Not connecting all the bank and credit card accounts dedicated for your business Make sure that you keep…  Read more

The three most important financial reports

Bizink

While many small business owners prefer brainstorming new ideas to pouring over financial reports, getting a handle on financial analysis can be remarkably empowering. Taking the time to regularly review financial statements can help you assess and improve current performance, avoid risk and make scalable plans for future growth. Protect your company’s financial health by learning your way around these three financial reports. Cash flow statement The cash flow statement…  Read more

5 Cheaper Ways to Advertise Your Business

Bizink

Advertising is an essential component of success for any business. Proper advertising ensures more sales, but if you choose the wrong options, it can be a very expensive proposition. Let’s look at five ways you can reduce your business’s advertising expenditure without affecting your results.   Referrals A referral program encourages your current customers to send their friends to your site, and to earn rewards for their efforts. It’s a…  Read more

Tips for getting rid of slow moving stock

Bizink

Stale inventory is a costly nuisance for any business owner. Ideally the rule of thumb is to sell the goods taking up space on your sale floor within 90 days; after the three month mark stale inventory becomes dead inventory. Products are much harder to move and nearly impossible to get top dollar for. Fortunately there are a number of ways to recoup at least part of your investment on…  Read more

What are the warning signs of employee fraud?

Bizink

Billing schemes. Skimming. Check tampering. Employee fraud is a real risk for entrepreneurs of fewer than 100 employees. In fact, according to the Association of Certified Fraud Examiners 30% of fraud cases take place in small businesses. This article will help you identify the most common signs of fraudulent activity before an unscrupulous employee destroys your business. Identifying high risk employees When an employee has something to hide, their conduct…  Read more

How to Avoid Costly Inventory Problems

Bizink

Inventory is the lifeblood of your business. It is the largest asset on your balance sheet and your company’s biggest revenue-generator. It goes without saying that poorly managed inventory can do serious damage to your bottom line. Businesses without clear strategies for streamlining the in and out flow of goods will have trouble meeting their customer’s demands and will see mismanaged stock corrode their profits. Follow these tips to ensure…  Read more

The importance of documenting processes and systems

Bizink

Many entrepreneurs operate with their business processes and systems in their heads. They know what they need to do each day and the way they want to get things done. Unfortunately when a business grows and staff need to be hired – or the owner needs to take time away from the business – it’s a real liability not having processes and systems documented in one place. Read on to…  Read more

Save time with appointment booking apps

Bizink

Like other time saving apps, tools designed to automate your booking calendar are a huge boon to busy small business owners. Put an end to time-wasting telephone tag and those endless back and forth emails with any of these 4 popular scheduling apps. Calendly Calendly is a popular app for consultants, coaches, solopreneurs, freelancers and other professionals who regularly book client meetings. With a clean intuitive interface, invitees can choose…  Read more

Social Media Etiquette: 12 Quick Tips for Professionals

Bizink

With social media, you can connect with business associates quickly and creatively. But this communication mode is not without risk. A thoughtless post can offend customers and other business partners and damage relationships rather than build them. By following a few ground rules you can be confident your comments and posts will be appropriate ones.   Abstain From Posting or Tweeting Certain Information If you aren’t sure it’s acceptable to…  Read more

Essential Tips to Help You Sell Your House Quickly

Bizink

Once you’ve made the decision to sell your home, chances are you’d like to do it as soon as possible. While some houses sell almost as quickly as they hit the market, others sit for a considerable amount of time without generating any offers from prospective buyers. Fortunately, there are several steps that you can take to increase the odds that your house is in hot demand and sells quickly.…  Read more

Five Undesirable Customer Types

Bizink

Every businessperson knows that not all customers are created equal. Some customers are loyal, while others will stray if they’re offered a slightly lower price elsewhere. Some clients are demanding, while others only call when they wish to place an order.   Every business must deal with a variety of customers. But there are certain types of customers who do more harm than good to your business – they drain…  Read more

Recent developments in payroll tax and medical practices

Xperion

Are you a general medical or allied health practice? If so, you are probably worried about the recent developments in payroll tax cases. What was the case that started it all? In Victorian case The Optical Superstore Pty Ltd & Ors v Commissioner of State [2018] VCAT 169, the Applicant (Optical Superstore) was the owner and operator of an optical clinic. The Victorian State Revenue Office raised amended assessments for…  Read more

Common errors with GST withholding rules for property transactions

Xperion

GST withholding… The ATO has noticed some common errors made in activity statements since the introduction of “GST at settlement” on 1 July 2018.  These new laws require purchasers to withhold GST on settlement (and pay it to the ATO directly) generally when buying ‘new residential premises’ from developers. In particular, the new “GST at settlement” law does not affect a supplier’s obligation to lodge their activity statement and report…  Read more

Real estate agents and commissions only remuneration

Xperion

Hopefully all of you know about the changes that happened last year, in April 2018. It is now though, 12 months later that you need to look back and ensure that you comply with the Fair Work and Real Estate Industry Awards and that your staff that have been on commission only, can continue to do so. What were the changes introduced? New broad-band classification structure The old job titles…  Read more

Client of the month – March (Mums4Hire)

Xperion

We were so excited when Nitha, one of our favourite clients and the one with a successful recruitment business, decided to setup another business purely focusing on amazing mums returning to workforce. This is what she has to say about her WHY: “Our goal is to give mums a helping hand back into the workplace through flexible work arrangements with employers who support mums. Our employers understand how challenging it…  Read more

Client of the month – September (Apromo Trading)

Xperion

For over 30 years Apromo has been supplying quality European patisserie ingredients, Belgian couverture, semi-finished products, gourmet foods and frozen Danish and desserts – to chocolatiers, patisseries, restaurants, hotels, bakeries, and caterers. That’s right, Apromo Trading has been operating in Sydney since 1987! That just proves that we all love chocolate! Their core business is twofold:  To supply high quality European ingredients and semi-finished products to Australia’s leading chocolate manufacturers,…  Read more

ATO Reforms to stop companies avoiding employee entitlements

Xperion

The Government will introduce new laws to stop corporate misuse of the Australian Government’s Fair Entitlements Guarantee (FEG) scheme. The FEG scheme is an avenue of last resort that assists employees when their employer’s business fails and the employer has not made adequate provision for employee entitlements, but it is clear that some company directors are misusing the FEG scheme to meet liabilities that can and should be paid directly…  Read more

Client of the month – March (Pinnacle Properties Qld)

Xperion

Our client of the month for March is Von and John Barnes from Pinnacle Properties Qld a real estate agent located in Enoggera. Pinnacle Properties had its official launch last month which was formally opened by the Honourable Teresa Gambaro MP Federal Member for Brisbane. Xperion assisted Von and John in a number of areas for their new business venture, including; putting the right business structure in place setup and…  Read more

The Inventory Factor: What’s Affecting Your Inventory?

Xperion

Whether you are running a current business or looking to start up a new company, it is important that you have enough stock on hand to meet your consumer’s needs. However, investing all of your money in inventory drains your working capital and prevents that money being used elsewhere in the business. Accurate forecasts are vital when it comes to maintaining and replenishing inventories, and it is necessary for a…  Read more