In an effort to help Australian business people work smarter, not harder, the Gillard government has developed a free online resource where business owners can build their financial knowledge.
The new Business Finances topic, available on the business.gov.au website, includes practical information on managing and seeking finance and was developed in conjunction and cooperation with business and finance experts.
Minister for Small Business Brendan O’Connor said the resource is meant to equip and arm business owners with all the skills they need to take a leading role in managing their finances.
“Many small business owners are terrific at their trade or profession but don’t have the same skills when it comes to running a business,” Mr O’Connor said, “Managing business finances can be a complex and overwhelming task for any business owner.”
“This new resource will give our small business owners the tools they need to deal with experts such as banks, lenders and accountants with confidence. They’ll get essential business finance information in an easy-to-read, online format, with a handy glossary of complex financial terminology.”
“While professional help is strongly encouraged, it’s essential that business owners have a good understanding of their financial affairs because ultimately it’s their own business that’s at stake,” Mr O’Connor added.
The Business Finances topic provides information on a range of common finance issues. From setting up a bookkeeping system to understanding complex financial terminology, preparing financial reports and applying for finance, the topic helps business owners take a leading role in managing their finances.
Minister Assisting for Industry and Innovation, Senator Kate Lundy, said business.gov.au is leading the way in delivering online services to support Australian businesses.
“Having this information available online ensures business owners have the ability to develop their financial knowledge at a time and pace that suits them. The new Business Finance topic complements business.gov.au‘s growing online library of business topics,” Senator Lundy said.
“Business owners can also access other free online resources on business.gov.au, including a new suite of business planning iPad apps and search tools that make it easier to find government support.”
The business.gov.au website brings together information from all levels of government to help start, run and grow Australian businesses. It is managed by the Department of Industry, Innovation, Science, Research and Tertiary Education with the support of state and territory governments.