Outsourcing Finance: The Best Move for Small Businesses Small businesses often face an uphill battle when it comes to managing finances. Many struggle to afford the expertise of a full-time, in-house finance team. This gap in financial management and strategy is a key reason why so many small businesses don’t survive beyond the first few…
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Drs Laura Lum and Tom Hogan affectionately refer to themselves as the gas and the pedal of their successful healthcare business on Sydney’s beautiful Northern Beaches. They first opened the doors for Elanora Heights Medical Practice October 17th 2015. The husband and wife duo, passionate about open-minded whole-person healthcare wanted to ensure the practice offers…
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When the pandemic took hold earlier last year, the Government implemented a slew of support measures to ensure that individuals and businesses were given financial and obligatory relief to see them through the first recession Australia had seen for nearly 30 years. Businesses were assisted into hibernation through stimulus measures including the JobKeeper Program…
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Many business owners feel they need to be 100% involved with all aspects of their business for it to run successfully. This is particularly true of Tradie business owners who have normally spent many years being “hands on” and engaged in their craft from which they have built their venture. The truth is, delegation and…
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Many of us start off the new year striving to be better with our money – saving more and spending less all in the name of financial freedom. As we head into the new year, having resolutions are all well and good, but good intentions alone are not going to get you any closer to…
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As we pack our Christmas belongings away, a lot of us end up taking stock of just how much “stuff” we have accumulated as we try to find homes for the new possessions that we have been lucky to have been gifted over the festive season. The overwhelm of the season, coupled with the desire to “cleanse”and simplify…
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Today, much of society appears comfortable with the idea of living on credit. It is even seen in some eyes as a “necessity”. Quite often, those who utilise credit cards and services such as after pay are quick to point out “oh, but I always pay it off eventually.” What this cultural trend highlights though…
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By Leah Oliver, founder of Minnik Chartered Accountants It feels like all we have to do is blink and Christmas is upon us – our days are filled with work, school, homework, sports commitments and other activities and this year we have COVID-19 in the mix. All of a sudden, the silly season is now…
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By Leah Oliver, founder of Minnik Chartered Accountants As an Accountant and Wealth Coach who specialises in working with business owners in the trades industry, I often see tradie businesses take off very quickly after an initial startup phase. Quite often, things plateau out shortly after, and cash flow problems start to present, particularly where…
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Business structures that involve a family trust either as shareholder of a trading entity, or the trading entity itself, still present highly effective strategy when it comes to minimising tax across a family unit.
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