Each Australian state or territory has its own specific laws and regulations that you’ll need to follow in order to successfully start and run your business. Place of Business Each state or territory will have its own specific regulations about your principal place of business, whether at home or in an office. It’s important […]
06
Aug
Aug
When you start your business, the last thing you may be thinking about is your bookkeeping. However, considering how you’ll manage your finances and whether you’ll hire an accountant is an important decision to make at the start. If you keep your financial books organized from the start you’ll save yourself a major headache down […]
28
Jul
Jul
Although it would be ideal to start your business with a full bank account that you can use to cover your business and personal expenses for the first year of operation, this isn’t often the case. Most people need to get creative in finding the money they need to start a business. The good news […]
24
Jul
Jul
One of the most difficult parts of starting a new business is figuring out where the funding will come from. Most new business owners use funding from one of these sources: Personal savings Bank loan Friends and family Credit Cards However, if you don’t want to use one of these funding sources, or you can’t […]
24
Jul
Jul
Financial forecasts can help your business achieve its goals by making future predictions for where your business is heading financially. They can also help you get funding for your business. It’s not easy to predict the financial future of your business, especially if you don’t have a trading history. However, making financial forecasts is essential […]
23
Jul
Jul
Before you apply for a business loan it’s important to understand the types of financial products that are available. [Read related blogs: What You Need to Secure Funding For Your Business; How To Apply For A Business Loan] Loans Loans can vary in the amount of the loan, the terms (or length of repayment), […]
23
Jul
Jul
In order to apply for a business loan, you need to be sure to do everything you can to make your application more successful. Below we’ve outlined some of the things you can do to make that more likely. Do Your Research It’s important to do your research before applying for a business loan. […]
22
Jul
Jul
Part of starting your business is getting the funding you need to turn your idea into a business. Sources of financing can include friends and family, financial institutions, banks, small investors, and crowdfunding. You can also bootstrap your business if you have limited funding sources available. Deciding how you’ll fund your business is an important […]
22
Jul
Jul
A credit management policy is essential to put in place when you begin your business. You need to have a credit management policy in place before you send out your first invoice. A credit management policy is a standard set of guidelines your business uses to collect money from customers. It also establishes how refunds […]
21
Jul
Jul
Credit management is the plan your business has for collecting outstanding money that you’re owed. It’s basically how you get payment from your customers when your customers have failed to pay their invoices. As much as you’d like to believe that all of your customers will pay their bills on time every time. This just […]