When we last left Mr 1% Spend, he was asking some tough finance and tech accountability questions of bemused Sydney business manager “George” and his increasingly exasperated cohorts. Today, the story reaches its climax as the author questions whether spending $15,000 to upgrade Microsoft Office is the most intelligent use of company funds.
When we last left Mr 1% Spend, he was asking some tough finance and tech accountability questions of bemused Sydney business manager “George” and his increasingly exasperated cohorts. Today, the story reaches its climax as the author questions whether spending $15,000 to upgrade Microsoft Office is the most intelligent use of company funds.
He coughed, spluttered, back-pedalled and delivered amazing excuses: Credit this, debit that, liability something else, below the EBIT line over there, management fees somewhere else, intercompany loans and so on.
I could see George starting to waver so I asked a very simple question to by-pass the jargon and drivel and get us back to the point of the discussion:
Are your technology suppliers and support providers advising you according to your best interests, or theirs?
Running a small business inevitably means becoming a jack of all trades, most notably of which is ‘doing the books’. This in turn requires getting to grips with tricky accounting packages, an understanding of spreadsheets and becoming conversant with accounting jargon. The result is waving goodbye to your evenings, weekends and regular sleep.
March is consistently the worst month of the year for company insolvencies. Why? Because businesses don’t plan for the inevitable drop in cashflow over the holiday period. Tim Lea offers some great advice on how to keep all the balls in the air while you and your customers are enjoying the summer break.
The tangle of red tape is shortly about to be made much simpler and more seamless as a result of an initiative led by the Australian Treasury called ‘Standard Business Reporting’, which will be available from 1 July, 2010.
For those of you who think accountants are beige bean counters, introducing Matthew Bourke – the new wave of accountant / business leader. He has, perhaps, the most diverse business interests of any of this year’s 30under30 winners.
The passage last Thursday of the Tax Laws Amendment Bill (2009 Measures no 4) represents the Rudd Government’s first significant milestone on the road to delivering a more streamlined R&D Tax Credit for innovative Australian businesses.
The passage last Thursday of the Tax Laws Amendment Bill (2009 Measures no 4) represents the Rudd Government’s first significant milestone on the road to delivering a more streamlined R&D Tax Credit for innovative Australian businesses.
It has become obvious to me over the past few years spent presenting at universities that an understanding of basic financial principles is not taught anywhere throughout the traditional education system. This leaves us Gen Ys, again, with the responsibility of educating ourselves. Or going bankrupt.
Today, the Australian Federal Minister for Small Business, Dr Craig Emerson, officially launched a free phone service that will provide advice and support for people running and working in small businesses.
The Australian business community is still reeling from the news that a Clive Peeters employee managed to embezzle $20m before anyone noticed. The obvious question arises: is anyone safe from this kind of fraud?
An over-efficient accounts payable person can be the worst enemy of cashflow in a business, writes Sue Hirst.
Last year, the continued emergence of online consumer voice and choice collided with the global economic downturn, delivering consumers both the will and tools to demand a greater level of accountability from their financial service purchases. Enter HelpMeChoose.com.au…
Are you seeking a template that is purposely designed to accompany a business bank loan? BusinessPlans.com.au has prepared hundreds of business plans for bank loans and has decided to share what banks look for in this template. The template includes suggestions, hints and tips to prompt and guide you as you prepare for a business…
You know your idea is a winner and it won’t take much effort to get it off the ground, but you’re not in a position to throw money at it at the moment. What are you going to do with a zero dollar marketing budget? Use your brain and get creative.
Domenic Carosa, a former BRW Young Rich List Member, is running a workshop designed to teach attendees how to accelerate business growth through the purchase of companies using other people’s money. 1. How to acquire businesses with none of your own money 2. Funding methods and deal structuring 3. Make money with acquisitions by arbitraging…
One of the worst steps you can take in business is attracting and accepting the wrong type of customers. This situation takes me back to one of my previous businesses. Looking back, I can’t believe I planned it that way and there’s no way I’d fall for it again. Here’s why:
Cashflow problems often arise due to lack of understanding of how cash moves through a business and the difference between profit and cash flow. Here are some great tips to help ensure that your cash is flowing in the right direction.
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