Mark Bailey's Articles in Small Business

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Business Structure And Trust When Starting A Small Business In Australia Perhaps one of the most important criteria for starting a business in Australia is choosing the right business structure. And that largely depends on the type of business you’re engaged in, the sort of risk you’re willing to bear and the level of business transactions you’re anticipating. When you select a Trust as a business structure, you’ll obtain tax benefits and distinct advantages not available to sole traders or partnerships. 8 Great Ways to Build up Your Small Business Networks in Australia As the owner of a small business, your primary focus is locating new clients and customers for essential for business growth. This becomes even more necessary in a tough Australian economic climate when your marketing and sales budget is tight. You may therefore have to find cost-effective approaches to generate interest in your business and attract potential prospects. Building your small business networks provides an excellent avenue to widen your options in your target market. 5 Inventive Ways For Marketing Your Business Start Up The primary way to expand your start up business is through marketing. Typically, small businesses have a limited marketing budget which excludes large scale marketing campaigns. Yet marketing drives business growth. With the right marketing strategies, your Australian small business becomes sustainable and scalable. Cost effective marketing techniques require you to get creative when you’re marketing to your target segment. Small Business Bookkeeping Melbourne and Financial Good Practice The financial success of your Australian small business lies in part to sound bookkeeping practices. Bookkeeping Melbourne is well equipped to advise you on how to secure both your business and financial data as well as maintain accounting records using the latest MYOB version of accounting software. It’s essential to engage professional and competent bookkeepers, who will ensure the speedy and efficient processing of business information. Australian Small Business - Basic Guide to Keeping Your Books with Bookkeeping Melbourne So now you’ve started your business and you’re getting in good custom. You believe you’re making a profit. You have to file your BAS and make your GST payments as well as record your income tax. How much exactly is your income and expenditure? Is your business venture as profitable as you think it is? Financial Modelling And Analysis Maybe you’re a small business owner who’s thinking of expanding your operations. You may be experiencing a period of high growth with accelerated sales courtesy of a new product you’re selling. Before you decide to embark on the crucial decision of purchasing new equipment, renting a new warehouse and moving to new premises, you may want to undertake financial modelling and analysis. What this essentially means is that you test out the scenario of expansion on your overall business operations using computer based techniques that provide an idea of the impact on your operations of any decision you take. The Taxes Affecting Small Businesses Small business owners have to account for a number of taxes to the Australian Taxation Office in line with the tax legislation affecting small businesses. You’ve got to account for the income tax payable on your business, the GST or Goods and Services Tax and superannuation in keeping with the Australian taxation system.

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