The Dangers of Drawing on Your Business Profits

Many business owners are not necessarily being paid a salary, in other words they’re not being paid a salary through the payroll but instead they are drawing profits as and when funds are available. But how does this affect your business and does it have an impact on your business? I strongly recommend that instead […]

End of Financial Year – Is it ‘Crunch Time’ for Your Business?

The months of May and June of each year are really crunch time months for many business owners.  I am seeing evidence of this with many of the clients I work with. End of May is generally the deadline for small businesses to submit their income tax returns for the previous year.  In other words, […]

Why budgets in business are a must have!

Many business owners fail to set a budget and don’t consider this to be important for them. They either think they are not big enough to need one or they have one ‘in their head’. So, why is it important for every business to set a budget? A budget is the success plan for a […]

How do I set a budget?

How businesses set and follow budgets is obviously very important. Setting a budget can actually be easier than you think. You need to look at the past three years within your business and ask yourself: how did the business do in terms of revenue and expenditure? Look at trends within your business. What regular payments […]

Year end..Opportunity ONE for CHANGE

Here in Australia, year end is quickly approaching..30 June. Its at this time of year that we look back at the past year and reflect on what our business has achieved financially and if we have reached our targets…….. don’t we? Unfortunately, unless you have a financial management expert / Virtual CFO on your team….you […]