The holiday season is a time of joy, celebration, and, for many businesses, unique financial challenges. At VBA, we regularly witness how this period can impact companies differently. Some experience a slowdown as customers and clients take time off, while others are flooded with holiday orders and Black Friday-Cyber Monday (BFCM) rushes. Regardless of which…
One of the most critical tasks in small business ownership is regularly assessing your company’s financial health. Understanding your financial well-being goes beyond just looking at your bank balance; it involves thoroughly examining various financial indicators. In this article, we will delve into the critical aspects of evaluating the financial health of your small business.…
As a small business owner, the start of a new financial year can bring both excitement and a host of responsibilities. It’s crucial to stay informed and prepared for the changes and obligations that lie ahead. By addressing key aspects such as award pay rate increases, superannuation contributions, STP finalisation, WorkCover renewals, and budget planning,…
As business accountants, we understand the importance of budgeting for the success of any business. A budget is a financial plan that outlines your revenue and expenses for a specific period of time. It’s an essential tool that can help you make informed decisions about your business and ensure you are on track to achieve…
There is comfort in knowing if you take the time to do your business budget you have the power to eliminate excessive spending and create a faster cash flow positive business sooner. It can really help you plan for whatever it is you want to do in your business. A sad reality is that many…
Hiring staff is a costly and time-consuming process. The average annual wage for an employee in Australia is $67,860, not to mention the on-costs. Plus, it can take at least a few months to find the right employee and then help them become productive in the workplace. Today, we explore an overview of employer costs…
A strong relationship with a valued accountant is important for any business. If you’re looking to grow, manage challenges or even simply keep a stable income, an accountant will bring a level of expertise you most likely don’t have yourself. This is a relationship that needs to be invested in. That doesn’t mean you need…
Have you heard that Australian businesses can now benefit from employing new employees, utilising young job seekers between the ages of 16 – 35 years? Under the JobMaker scheme, employers have up until 6th October 2021 to apply to access a Hiring Credit Scheme that can potentially offset up to $10 400 a year. …
For many businesses across Australia, the JobKeeper subsidy has ensured that operations could continue during a highly unpredictable year. However, with the end of JobKeeper fast approaching, will this still be the case? Here are the updates your business needs to be aware of before JobKeeper ceases and how to be prepared when it does.
After a financially difficult year for most, many small and medium-sized businesses are looking to reduce costs in the year ahead. Unfortunately, when reducing costs, some of the first people to go are Apprentices and Trainees. But before you cut them loose, did you know you can get 50% of eligible apprentices and trainees’ wages…