Business Mentoring Noosa

Helping small businesses on the Sunshine Coast to fulfill their true potential

Finance

How to get your business back from the brink of failure — or avoid getting there in the first place

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There are a number of common characteristics of businesses that minimise the risk of failure. These separate the businesses that fail from those that not only survive but have an opportunity to thrive. While nothing can replace strong and decisive management, the following article describes some additional factors which can help to reduce the risk of business failure: http://www.smartcompany.com.au/finance/how-to-get-your-business-back-from-the-brink-of-failure-or-avoid-getting-there-in-the-first-place/

This article was suggested by our mentor Trevor Payne.

How late payments are sending small business to the wall

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Too many Australian small businesses are in financial stress because their outstanding invoices are being paid a month or more late. The biggest offenders are multinationals but some government agencies are also guilty of dawdling on payments. Read a summary of the report by the Australian Small Business and Family Enterprise Ombudsman here: https://www.intheblack.com/articles/2017/06/01/late-payments-business-wall

This article was suggested by our mentor Trevor Payne

You can claim your website under the $20,000 instant asset write-off scheme

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According to research by Officeworks and H&R Block published in May, 78 per cent of small business owners don’t understand how the $20,000 tax break works.

The following article shows a couple of examples of what it can be used for: http://www.smh.com.au/small-business/trends/the-big-idea/you-can-claim-your-website-under-the-20000-instant-asset-writeoff-scheme-20170523-gwayi5.html

This article was suggested by our mentor Trevor Payne