How to unlock cash within your business
As a business owner, have you ever been caught short of cash? What if I told you that the solution to your cash flow woes might be hiding in plain …
Author: Sumz Plus Business Services
Posts by Sumz Plus Business Services
Budgeting and cash flow forecasting: key to your business success
In the unpredictable world of business, finding a little certainty can make all the difference. While the future remains a mystery, tools such as budgeting and cash flow forecasting can …
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Don’t underpay employees
Underpaying employees occurs when workers are paid less than the minimum wage or are not provided with their correct entitlements and benefits as stipulated by Australian employment laws. Key factors …
Are your binding death benefit nominations up to date?
A ‘death benefit nomination’ is a legal document that allows a superannuation fund member to specify who should receive their superannuation benefits in the event of their death. When a …
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Avoid penalties with an ATO payment plan
An ATO payment plan allows you to break down your payment into smaller amounts made via instalments and spread over a fixed period. Within a payment plan, you pay an …
Understanding and improving working capital
When it comes to running a thriving business, understanding and effectively managing your working capital is crucial. Essentially, working capital is the cash readily available for the day-to-day running of …
Essential bookkeeping practices for start-ups
Starting a new business is exciting, but it also comes with its fair share of responsibilities. One of the most critical responsibilities is maintaining accurate records of your business transactions. …
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How rising interest rates impact small businesses and ways to mitigate those effects
In the world of business, one constant factor you are likely to encounter is change, particularly in the financial landscape. One such change that can bear significant implications for small …
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Unravelling the mystery of missing profits: A guide for new business owners
Starting a business is a wild ride with its fair share of ups and downs. One hurdle many new entrepreneurs encounter is the difference between the profits they expected and …
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The differences between BAS and IAS
Running a business comes with a lot of financial responsibilities, and as a business owner, you’ve probably come across terms like BAS (Business Activity Statement) and IAS (Instalment Activity Statement). …
Free help for stressed business owners
Small business owners face a common set of challenges – limited HR or admin staff, long hours, and endless pressures. A new free service offers coaching in problem-solving and stress …
Decoding the language of financial ratios
As a small business owner, you’re likely already wearing many hats. But the hat of a financial analyst might seem a little oversized, particularly if your background isn’t in finance …
Safeguard your assets with an asset protection plan
Asset protection refers to the strategies used to safeguard wealth and assets from potential risks, such as lawsuits, creditors, and financial downturns. Asset protection aims to create a barrier between …
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Why you could be disqualified as the Trustee of your SMSF
The Commissioner of Taxation wields considerable authority under subsection 126A(2) of the Superannuation Industry Supervision Act 1993. Under this act, the ATO Commissioner is authorized to disqualify individuals from acting …
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The ultimate guide to improving business cash flow
In the business world, cash flow remains the lifeblood that keeps your operations running smoothly. Whether you’re a start-up finding your feet or a seasoned business, maintaining a steady cash …
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5 essential steps to crafting a solid business plan
So, you have a great idea. You have dreamed of how it can work and everything adds up in your mind. You are confident that it could grown into a …
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Apply now for the Xero Beautiful Business Fund!
Xero Beautiful Business Fund applications are now open! Xero recently announced the launch of the Xero Beautiful Business Fund. Itʼs their new initiative, backing small businesses for the future. What …
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Navigating financial pressure: a guide to asset liquidation for your business
Every business encounters financial challenges at one point or another. But when the going gets tough, just remember that you’re not without options. One practical strategy that can help you …
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The benefits of helping your staff with financial stress
According to a recent survey from PwC, 60% of full-time employees are stressed about their finances, and more than half reported that this stress impacted their sleep, mental health, and self-esteem. It’s …
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Validate your new business idea with market research
Assessing the viability of your new idea is an essential part of market research. While seeking input from friends and family is common, gathering information from the market itself can …
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