Helping small businesses on the Sunshine Coast to fulfill their true potential
By BMN
Dividing Up The Loot: This article shows you how to get peace-of-mind by setting up Piggy Banks to ensure you do not have to rely upon willpower for your business Profit & Salary. It will show you how to calculate the amount to put away into them, on a regular basis, so that you have enough cash available to meet all payment commitments.
https://mailchi.mp/a99b5454a67c/wtips-160419
This article suggested by our mentor Scott W
By BMN
Among the largest contributors to the failure of both small and larger businesses, are either, they fail to make a profit or they incorrectly account for their cash and run out of money to pay their debts and tax liability.
This is particularly acute in small businesses where the owner/operators do not necessarily have much experience in financial matters and find themselves in an unexpected cash flow crisis.
It introduces a simple set of “Piggy Banks” that give you a “set and forget” approach so that when tax and other expenses become due, you have sufficient funds to pay. And, along the way, you have also taken out not only a Wage but a Profit as well. Read more here:
https://mailchi.mp/bfab42d30c39/fam2qc6i05
This article was suggested by our mentor Scott Williams
By BMN
There are so many things to consider when you’re trying to decide what kind of business to start. No matter the size of business you want to own, if you give thought to these five areas you’ll be able to choose the business that’s right for you.
https://www.businessknowhow.com/startup/findbusinessidea.htm
This article was suggested by our mentor Trevor Payne
By BMN
Running a business isn’t easy. With so much going on, it may be beneficial to streamline some processes to free up time to focus on other tasks. One area where a business can make life easier is in how they manage their cash flow.
http://www.sbnonline.com/article/mitigate-financial-inefficiencies-cash-flow-management/
This article was suggested by our mentor John Wood
By Bob Joubert
Instant bank payments are coming: Business owners and customers will soon be able to access instant electronic transfers between a number of financial institutions, with the New Payments Platform officially being rolled out in February.
https://www.smartcompany.com.au/finance/new-payments-platform-small-business/
This article was suggested by our mentor Bob Joubert