Starting a side hustle can be an exciting endeavour, but it’s essential to consider the financial aspects before diving in, explains Selda Kaplan, CEO and Founder of TaxLeopard. There are several key financial considerations to undertake if you’re contemplating a side hustle. These include budgeting strategies, tax implications, record-keeping methods, and tools for managing your… Read more »
The pandemic continues to put a chink in the plans of many Australian businesses with some seeing extreme growth while others struggle to make ends meet. This two-speed economy is throwing up cash flow challenges for both extremes according to recent finding by ScottPac. ScotPac senior executive Craig Michie said while these business scenarios are… Read more »
With Christmas fast approaching, small business owners need to plan for tougher times, with the post-Christmas period the most dangerous period for small business cash flow, warns Roger Mendelson CEO of Prushka Fast Debt Recovery. Business closure over the Christmas and New Year period puts pressure on small business cash flow every year when reduced… Read more »
Sometimes, the best time to get expert advice is when you’re too embarrassed to do it. This is as true about seeing doctors as it is about consulting with your accountant when your finances are a mess. If it’s overwhelming to you, it’s most likely to be salvaged and straightened out with the help of… 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 »
Right now, Australia is in the grip of the global COVID-19 pandemic, and so much has changed in a short space of time that some of us are finding it hard to keep up, writes Reuven Barukh, CEO of LIVE Group. As restrictions continue to affect the way we live and work, there’s no doubt… Read more »
Farmers and regional businesses are being cut a break as the government announces plans to roll out cheap interest-free loans to help them stay afloat as the drought worsens. The loans are part of a half-billion-dollar stimulus package announced by the PM today, as the Morrison government plans to shake up the existing Regional Investment… Read more »
Leading credit score provider Credit Simple’s state of the nation report found women are better at managing money than men despite common misconceptions that men are savvier with their finances. Credit Simple found women have higher credit ratings in almost every state, city and region in Australia despite the gender pay gap and common attitudes… Read more »
A move from Victoria to the Sunshine Coast over fifteen years ago prompted Trevor Ryan to shift course and start a business as a mortgage broker. The year was 2002 and Ryan says it was after seeing an ad in the local paper, his interest was piqued. Prior to this he admits he had not… Read more »
Changes to consumer credit reporting in Australia may affect the ability of sole traders to obtain credit for their business, whether they be applying for a commercial loan, seeking working capital finance, or leasing equipment. Here’s what you need to know. What has changed? The changes relate to the contents of your personal credit report,… Read more »
The banking code needs a major overhaul to address unfair treatment of small businesses, according to a submission lodged by the Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, on the interim report of the Banking Royal Commission. “Commissioner Hayne reported that the ‘chief protection for small business borrowers … remains the code’, so unless… Read more »
The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) and the theBankDoctor.org have released a guide to provide small business owners with all the info they need to better understand borrowing from alternative finance sources such as fintech organisations. The Ombudsman Kate Carnell suggested the guide will help SMBs to understand the jargon and receive a clearer… Read more »
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