Economic transformation in 2016: Brave new world or same old challenges?

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2016 is a big year for me and my family. Mitchell Wilson will celebrate its 25thAnniversary, my wife Leonie and I both turn 60 and we are looking forward to becoming grandparents for the first time. It definitely feels like we’re entering a new phase of life, like many of our clients who have been with us since we took over the business in Septe...
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How will budget decisions affect you?

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The Federal Government made a number of announcements and decisions regarding proposed measures for small business and personal taxation. Below are some of the Government's proposed changes which may be relevant to you, and if you're a business owner, your business.  What is a small business entity?  A business is considered a 'small business...
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Have you got a succession plan?

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A growing number of Australia’s SME owners and leaders are aged 60+, and alarmingly 76% don’t have a formal succession plan or transition strategy in place to ensure business continuity. Given our ageing population, many economists and demographers predicted a mass sell-off of SMEs that would deflate prices in the second half of this decade. Wh...
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Five important KPI’s for travel agents and what they help you measure.

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Closing monitoring key financial key performance indicators (KPI’s) is a an important part of managing any business, but given the high number of variables in the travel industry, being able to quickly drill down into profit and loss drivers becomes critical to diagnosing problems and improving the business bottom line.   If a travel business i...
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How to use activity based reporting to effectively measure KPIs

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Earlier this month we talked about why setting KPIs is good for the bottom line and in particular the benefits of activity based reporting for SMEs. Every day we see businesses who find it difficult to understand certain processes such as the link between labour costs and productivity, peaks and troughs to determine spare capacity or the impact...
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Why setting KPIs is good for the bottom line

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Closely monitoring Key Performance Indicators (KPIs) is an important part of financial management in corporate settings, but we’re often asked: What role do KPI’s play in small to medium enterprises?  For a small business (e.g. a tradesman) it may be as easy as working out how many hours are billed to clients each day or week. This will gi...
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Is your business prepared for SuperStream?

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It has been more than 6 months since the government announced the SuperStream scheme – an initiative aimed at improving the efficiency of superannuation payments for employers. From 1 July this year, employers must make super contributions on behalf of employees by submitting data and payments electronically. If you’re a business owner it’s im...
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Why curiosity is your business survival skill in 2015

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With 2015 now well underway, it may be a good idea to make it the year you ask yourself some tough questions about your business. It’s easy to take your attention off business planning and focus on day-to-day processes, but to ensure your goals for the future are on track to being fulfilled, here are some questions you may want to consider:  ...
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5 easy steps for setting KPIs in your business

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See how setting KPIs is good for the bottom line here If you are an employee, you are probably very familiar with the concept of KPIs or Key Performance Indicators as a tool used by your manager or supervisor to measure and monitor your job performance.  Alternatively, if you are the owner of a small business the scene may change, but the rules...
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The one thing that can undo your success

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In recent times we have been reminded of the importance of adequate documentation in a number of situations.   On one occasion we were asked to sort out a business dispute where the client had no record of a partnership or employment agreement, no purchase contract, no supporting financial statements, and trust deeds were all over the place. In...
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