Businesses looking to improve their profitability may need to consider cutting under-performing products and services. How a product contributes to growth strategy, brand management and production efforts can help you determine whether you should discontinue it. Underperforming products can drain the company’s resources and finances that could be used to profit elsewhere. It might be…
An employment contract establishes the terms and expectations of an employee before they start work. It outlines everything the employee has to know about working for you, including employee rights, working hours and performance expectations in the role. Each employment type has different entitlements and obligations that must be met by both the employer and…
Promoting your business can seem tricky to navigate and expensive, especially when there are budget and staff restrictions to think about. However, there are a number of ways to promote your business easily and cost-effectively. Blog content:Posting well-written and relevant blog content on your website can help boost website traffic while capturing the trust and…
Bad days can happen to the best of us, but that doesn’t stop work from needing to get done. Whilst working when you’re feeling down is the last thing you want to do, here are a few ways to pick yourself up and carry on with tasks you need to do. Take a break:Stepping away…
In Australia, there are approximately 100,000 working holiday makers employed each year. Any employer can hire working holiday makers provided they meet the requirements to do so. Employers must confirm the working holiday maker has a valid visa subclass, either 417 (Working Holiday) or 462 (Work and Holiday). Register:Employers will need to register to apply…
An Australian business number (ABN) is a unique 11-digit number that the Australian Business Register issues to all businesses, identifying your business to the community and government whilst also making it easier to keep track of business transactions for tax purposes. While it is compulsory for businesses with a GST turnover of $75,000 or more…
Employers that incorrectly treat employees as contractors can face hefty penalties and charges as well as claims for entitlements and superannuation contributions. Even if employers are only hiring someone for a few hours or a couple of days at a time, it must be established whether they are employees or contractors to get tax and…
While email marketing remains one of the most effective platforms for businesses to reach clients on a personal level, it does not always deliver the results you may be after. If you’re finding that email marketing isn’t going as well as you had hoped, here are five simple ways to improve your campaign: Email automation:Email…
Business owners are faced with constant challenges and tough decisions to make on a day-to-day basis. Risk-taking is often necessary to achieve more in the business, but owners need to make informed choices to avoid potential damages. To manage risk effectively, a proactive stance needs to be taken in identifying and responding to risks before…
Spending on capital assets usually cannot be deducted immediately. Instead, small businesses claim the costs over time in accordance with the asset’s depreciation. There are many different processes that businesses can employ to make claims on their assets. For small businesses with lower-cost assets, methods such as simplified depreciation or the threshold rule can help…