The new financial year is here and after months of turmoil, only now are we starting to get a true picture of the impact this has had on Australian small businesses and the significant pain points that lie ahead, writes Australian Small Business and Family Enterprise Ombudsman Kate Carnell. Prolonged drought conditions, a horror bushfire… Read more »
Assuming Australia succeeds in keeping virus numbers mostly suppressed, allowing restrictions to continue to be lifted, and that a vaccine or good anti-virals are available from mid-2021, what comes next for Australia and the world economies asks Deloitte Access Economics partner Chris Richardson, principal author of Deloitte’s quarterly Business Outlook Report. 1.6 billion people in… Read more »
There are now less than three months to go before the expanded JobSeeker payment is due to end. As a result, there is a growing political debate about what should happen to the unemployment payment that was roughly doubled in April. While the government is reportedly considering a revamp of both the JobSeeker and JobKeeper… Read more »
In Australia, open banking has been a term bounced around in the financial sector since 2017. Only in the last two years we have seen movement, and the Big Four banks (CommBank, NAB, Westpac and ANZ) have begun beta testing since legislation passed in 2019, says Erich Gerber, Senior Vice President, APJ and EMEA, TIBCO… Read more »
For business owners and taxpayers, the approaching end of financial year (EOFY) is a critical opportunity to review and reset, writes Jane Betschel, Head of SME Direct, MYOB After a tumultuous start to 2020, this year it will be especially important to make the most of your time with your accountant, and to prepare and… Read more »
Poor planning is one of the killers of small business. One big item that many small business operators fail to plan for is TAX, writes Sharon Williams, founder Taurus Marketing. Unfortunately, the better you do, the more you pay. The country has to run and we as small business owners contribute much to keep the… Read more »
COVID-19 and the new financial year provide an opportunity to reassess and make changes to your business’ strategies and plans to make sure you are offering a sustainable value proposition that is relevant for customers, staff and the community, writes Leo Tyndall, CEO and founder of Marketlend With COVID-19 negatively impacting two-thirds of businesses across… Read more »
For many SMEs, this tax time is more important than ever, particularly when it comes to consolidating unpaid bills, writes Roger Mendelson, CEO of Prushka Fast Debt Recovery Small businesses would have experienced solid profits up to March 2020, and then April to June will have most likely resulted in a loss quarter. It is… Read more »
As the end of the financial year approaches, small businesses across Australia are gently emerging from lockdown. They’re returning to a ‘new normal’ in which many restrictions will still apply, so to adapt and identify competitive advantages to help them navigate the coming months, businesses are relying on technology to help them work smarter,” writes… Read more »
Whilst health workers are undeniably at the front line of the fight against the COVID-19 pandemic, there is another cohort of silent heroes – accountants and tax agents, writes Wayne Debernardi, General Manager Institute of Public Accountants. The Institute of Public Accountants (IPA) has a large contingent of members in public practice, predominantly small accounting… Read more »
For many small business owners, continuing to do business as we recover from the effects of COVID-19-related restrictions will require fresh thinking and reinvention, writes Tony Wall, Head of Design at Intuit QuickBooks Australia. The challenge of deciding what’s worth keeping, what’s worth changing and what’s worth throwing out entirely can seem daunting. We use… Read more »
In his fourth article on helping businesses through the current economic climate, Mackay Goodwin CEO, Domenic Calabretta, looks at ways to manage your cash flow and meet your financial obligations. Many businesses will have calculated their exposure and reviewed ways to save costs and still find that their finances are falling short to maintain a… Read more »
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