That your business becomes as profitable as it can be (on a cash basis). Profit pays debt, profit drives the business forward and profit gives you the reward for all your hard work.
Your Business Angels -
Australia is awash with money. Can you dive in and get yours? There is a lot to keep doing.
If you have an empty swimming pool and put a tap in it, connect that tap to a water source and turn that tap on, you will fill the swimming pool with water. It will be awash with water. That is pure science. If you have a country and the government of that country pour […]
Do not waste a tax loss
This has been a difficult year, and your business may have made a tax loss. A tax loss is when the total deductions you can claim, excluding gifts and donations, are greater than your total income for an income year. If your business makes a tax loss, you may be able to: Offset the loss […]
Rents and Running a Business
So before we get excited about pubs and bars and cafés opening again, and having a conversation about 4 m² and social distancing, maybe we should have a cold shower to bring down the excitement and talk about how a business possibly covers its rent – as legislation allows landlords to charge full rent again […]
Are you running a zombie company?
A zombie company has just enough money to continue operating and perhaps service debt but is unable to pay off debt. That means the business is just scraping by meeting overheads such as wages and rent and interest payments but has no excess capital or income to pay off old debt or invest in growth. […]
Are we just kicking the can down the road?
I’m always talking about watching your money. New real time data shows that spending is returning to normal, at just 3% below pre-crisis levels (May 22nd report). While this evidence confirms mortgage deferrals and other hardship measures are supporting spending, it also suggests that we may be simply kicking the can down the road until […]
Moving a market
And where Your Business Angels could be able to help you There is from what we are finding from a lot of trades in the marketplace – it just may not be where you have worked previously. You may need to move to a different market using your skills. You might need to travel a little […]
Something we need to talk about in time of trouble
The Australian Government has temporarily changed bankruptcy law to help protect people who are facing unmanageable debt as a result of the economic impacts of COVID-19. If you’re a sole trader, or operating a business as a partnership, you could face personal bankruptcy if you can’t pay your debts. If you’re in financial difficulty you […]
You are finally getting recognition that you exist – it took a pandemic to do so!
So, here is the thing, I’m looking for a metaphor to write this blog about small businesses in Australia that make up 62.7% of all enterprises that have finally been recognised by the government. And ironically this recognition comes about because of the pandemic. In the initial stimulus package, self-employed ABN holders were left out […]
Launch the life boat
A rescue lifeboat is a boat rescue craft which is used to attend someone in distress. It can be hand pulled, sail powered or powered by an engine. Lifeboats may be rigid, inflatable or rigid-inflatable combination hulled vessels. Does it matter as long as it arrives in time?
What is the most important thing to keep yourself from drowning? Getting out of the water—but treading water is a close second! Simply floating in water might look easy, but it’s actually pretty difficult if you don’t have a flotation device, and treading water is an essential safety skill for anyone who plans on spending […]
Tidad the frog
Tidad “the dyslexic frog” “It’s not snap back – its snap to” Many of you are probably too young to remember the recession we had to have in the early 90s. That was a period of 11% unemployment and incredibly high interest rates. I think we were paying 18% on our mortgage it was also […]
How to Survive a Rip Tide
How to Survive a Rip TideLessons for Business The term “rip tide” is usually used to describe rip currents, which are long, narrow bands of water that can pull swimmers away from the shore. If you do get caught in a rip current, the best thing you can do is stay calm. It’s not going […]
Seven Things You Should Stop Doing
During the global financial crisis we had some warning, we saw news reports where people wearing suits will walking out of investment banks on Wall Street carrying their box file that represented their personal items from the desk. Slowly over a period of time we slipped into the global financial crisis and many businesses had […]