Archive for 'Small Business'
Current rent roll valuations
There seems to be a growing requirement for rent rolls in the Melbourne real estate market. Many rent rolls are being enquirer about by brokers and associates of my clients. So what is the current range of multiples, what is the retention requirement and what are the factors that effect rent roll values. What are [...]
Full StorySpecialisation and Business Success
I am looking at some expansion opportunities for my practice at the moment and the leg work has been an intriguing process to say the least. I am very much an advocate of the philosophy that suggests that business success will flow from specialising in and mastering your core strengths rather then trying to do [...]
Full StoryBAS and the ATO – Compliance
I know how it goes. You get busy and forget to lodge – and PAY – your BAS. Your friendly neighbourhood ATO compliance office gives you a call and you don’t know what to do. Well the short answer is – get compliant. All my clients whether it be my Real estate or medical practice [...]
Full StoryExternal Factors Effecting your Business
Even the best of us sometimes get caught! The Federal government has recently passed some legislation that will effect a lot of small businesses and has dramatically effected my business. The new Tax Agent Services Bill was passed which means that anyone providing tax or BAS related services must be registered with a new Statutory [...]
Full StoryDo you have “Financial Control” part 2
2. Gross Profit. Every business has a set of expenses that relate directly to the revenue derived. They rise and fall depending on what level sales are at and they identify the costs that go into directly attaining that revenue. If you are a real estate agent then the commission paid to sales people and [...]
Full StoryDo you have “Financial” Control of your business
Ok we have explored the strategic and budget process that every business should investigate, over the last couple of weeks. But what I really want to know is whether you believe that you have a clear understanding and ultimately control over your business – from a financial aspect? If I printed off your profit and [...]
Full StoryPreparing Your Budget
Whenever I talk budgets to my clients I see the fear on their faces. Be it because they don’t want to address the issues, they don’t want to plan for fear of failure or the long held connotations that the process is all too difficult – I really don’t know. So lets cull that belief [...]
Full StoryBudget Review Time
Now that you have worked through your strategic plan its time to turn your focus to what that all means for the business. Now I am very passionate about the budget and its ability to direct your decision making process. It is the one tool that allows you to make informed decisions about where you [...]
Full StoryStrategy Time
With the New Year here it is now time to review your strategic plan and the associated budget that underlies the year ahead. First, lets look at a quick set of definitions to clarify what I am talking about. – Strategic Plan – this is a very high level look at what you want to [...]
Full StoryThe ATO and Small Business Concessions
So you run a small legal practice in Melbourne and your December BAS is due for lodgement on March 1. The problem is that your last two have not been paid and you cannot see how you will have enough funds to pay this one. You know the ATO will charge you a penalty and [...]
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