Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. RBA governor says it’s “regrettable” that some Australians now have mortgages they can’t afford At a Senate estimates hearing on Monday, Reserve Bank governor Philip Lowe apologised to Australians who took out a home loan due to the RBA’s guidance that interest rates would stay the same until 2024.… Read more
When you start a business, you’re typically your only employee and payroll is about as simple as it gets. But as you grow, you hopefully find yourself in the position of needing to take on more employees. Before you know it, what was once a very straightforward task becomes a giant undertaking that’s sucking up most of your time. This is when it makes sense to outsource your payroll. While… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. More than one-third of Australians experiencing financial hardship New data from NAB has revealed that a third of us are really feeling the pinch – with some unable to pay bills. The bank encouraged those struggling to seek help early if having trouble paying on time. The “buy now,… Read more
When it comes to hiring seasonal employees, business owners tend to fall into two groups. Some look forward to hiring temporary workers, knowing that the need for seasonal workers reflects a business season. Some feel that it’s a necessary evil to get through times where the workload is heavy and the permanent workforce is lean. Unfortunately, the attitude is that seasonal employees are temporary, and are therefore not as skilled… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. ASX slides as other world markets try to find their footing The ASX was looking good at the start of the week, but with the US wobbling around a recession and crypto crashing, all gains were erased. Stocks dropped to a low not seen since the start of the… Read more
The process of onboarding employees is often lengthy, but it’s important. New hires need to learn your company’s culture, policies, and procedures. You also need to get some critical information from them so that they can legally work for you. The onboarding process is typically long and a little dry. It may include training, equipment distribution, benefits orientation, and security policies, just to name a few. There are many benefits… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. ASX inches up after news of strong US jobs report The stock markets opened the week strong, with the ASX climbing after the most recent US jobs report. Stock markets around the world followed suit. Senators launch inquiry over phoenix operations The illegal practice of “phoenixing” costs the economy… Read more
It seems that every news outlet is sounding the alarm about high inflation these days. While it might sound like it’s time to panic, you don’t have to. With a few adjustments, you can handily fight off inflation and possibly even benefit from the current economic climate. Read on to discover 5 ways you can combat inflation and make your money work harder for you. Find out what you spend… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. ASX rises in anticipation of RBA rate hike The stock market rallied a bit on Monday in anticipation of the latest rate hike from the Reserve Bank. The performance mirrored other world markets, with many investors hoping that the end of runaway inflation is in sight. Why grocery staples… Read more
In a world with endless distractions, it’s no wonder that we find it difficult to complete tasks. Focus is hard to come by these days. This is especially true when you’re working from home. Household tasks that would otherwise be out of sight and out of mind are suddenly in your workspace. With that said, there are some proven methods to help you get things done. Time blocking and Time… Read more
There’s a very important deadline coming up on 30th November. The ATO is urging those who haven’t yet applied for their director identification number (Director ID) to do so ASAP. The consequences for neglecting this task are severe. What is a director ID? The director ID is a mandatory 15-digit identification number given to a director who has verified their identity with the ATO. Once you have it, that is… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. A budget that is “resilient” but not “fancy” The Albanese government released its first budget this week, with promises that it will be well-funded, but not excessive. It’s expected that this budget will lay the groundwork for bigger changes next year. $21bn in government spending to be slashed After… Read more
When you start a small business, it’s usually only you behind the whole operation. You wear many hats, from CEO to clean-up crew. As you pour your heart and soul into your business and it begins to grow, the amount of work involved grows with it. Because a small business is so focused on survival, you pay a lot of attention to the bottom line. This makes a lot of… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Rental market still under considerable stress At the beginning of 2020, a mass exodus of people from Australia as borders closed led many to believe that the pressure on our housing market would be alleviated. However, the opposite has happened, with rents still sky high across the country. Six… Read more
Upgrading or changing your payroll system comes with a ton of wonderful benefits. Saving time and money, making everyone’s lives easier, and better integration are all good reasons to consider a change. But if the switch is mishandled, the results can be catastrophic and lead to long-lasting problems. Read on for some tips on how to avoid a disastrous payroll system migration. 1. Give the project the time it needs… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. What an American recession means for Australia What exactly does it mean for Australia if the United States is headed for a recession? Sky News breaks it down here. ASX continues to drop Most of Australia’s biggest companies continued to see major slides in the stock market last week,… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Changes to aged care payment system Services Australia is updating the aged care payment system. Residential aged care services events won’t be able to be submitted between 14 to 22 July. Read the details here. Food tech company NotCo expanding into Australia The company produces plant-based milk, beef, and… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. ASX carries momentum into a new week The local sharemarket started the week at a three-week high, coming off a rally from last week. Tech and payment firms were among the industries leading the charge. Bubs jumps 80% as deal struck to aid US Baby formula manufacturer Bubs Australia… Read more
Many entrepreneurs believe that hard work and dogged determination are all it takes to build and sustain a successful business. But when you consider the pressures of running a company, it seems wise to add effective stress-management to the list. Left unchecked, stress can erode your passion and undermine performance – not to mention, take a serious toll on your health. Research compiled by Office Vibe reveals that over 70%… Read more
“How much should I spend on marketing?” Most small business people ask me this question at some stage. Many small business people find working out how much to spend on marketing a tricky exercise to calculate. Generally there are five ways to work out a marketing budget for the year. Remember that these are marketing budgets, not advertising budgets. Marketing covers everything you do in your business that creates awareness,… Read more