How can small businesses compete with the big chains?

In tough economic times, small businesses can struggle. Big multinational chains often have the scale to undercut local competitors and survive even when times get tough. What can small businesses do to retain and attract customers in a competitive market? Identify your business’s advantages Think about what your business can offer that a multinational operator […]

Small Business Technology Boost 2023

The Small Business Technology Investment Boost was announced on 29 March 2022 and became law on 23 June 2023. This initiative allows eligible small businesses to claim a 20% bonus deduction on technology expenditure to help digitise their business. What do you get? Additional Tax deductions. Who is this for? Small businesses, check the ATO […]

What makes you a good entrepreneur?

Do you dream about starting your own business? And can anyone become an entrepreneur? When you look at the research, there are certain aptitudes, personality traits and business skills that tend to make you a more successful entrepreneur. But can you learn these skills? Or are these innate abilities that some entrepreneurial people are just […]

Understanding Your Profit and Loss Statement

Your profit and loss statement (P&L) helps you understand your business performance and profitability over time. It’s sometimes called an Income statement and its main purpose is to list income and expenditure. Whereas a balance sheet is a snapshot in time, the P&L shows transactions over a specific period of time. This can be a […]

Plain English guide to cashflow

Why is cashflow so central to good financial management? Here’s our plain English guide. What is cashflow? Cashflow refers to the movement of money into and out of your business over a specific period. In the most basic terms, cashflow is the process of cash moving out of the business (cash outflows), and cash coming […]

How running a lean business model improves your cashflow and efficiency

Keeping your operational expenses under control, while also remaining efficient and meeting customer demand can be a challenge – one that can catch out many new business owners. This is why running your enterprise using a lean business model is such a good idea. By keeping operations, stock and processes to a minimum, you reduce […]

Can ChatGPT replace your marketing team?

Unless you’ve been living under a rock, you’ll have heard about the ascendant rise of Open AI’s ChatGPT and GPT-4 (plus other similar tools). These natural language processing tools have brought AI content writing to the masses – but does this mean that your content marketing team is now defunct? The short answer is no. […]

It’s tough at the top (and that’s why you need a business adviser)

Being a business owner can be immensely rewarding. But it’s also a highly pressurised and stressful vocation to choose. The business journey can be full of pitfalls and challenges that make it more difficult to meet your goals and turn your enterprise into a success. The good news is that you don’t have to travel […]

Have you got a plan for growth in your business?

Growth doesn’t need to mean more risk, more hours, and more headaches. It may be as simple as identifying where the opportunities for growth are in your business and industry. Once you’ve done this you can establish what you and your team are going to have to do in order to maximise these opportunities, and […]

How humour can increase your bottom line

You want to be taken seriously as a business, right? But did you know that many customers and consumers actually want you to give them a laugh as well? 91% of people globally prefer brands to be funny, but 95% of business leaders fear using humour in consumer interactions. So, how do you overcome the […]