How First-Time Business Owners Should Create Their Initial Budget

If you've decided to branch out and set up in business on your own, you may have a solid idea as to how you're going to sell your products or services, but are only just starting to work out the details. One of the tasks ahead of you is the creation of a budget for the next financial year. This can be a daunting proposition for those who've never done it before, but it doesn't have to be overwhelming if you take a step-by-step approach.

Why You Really Need to Outsource Your Bookkeeping as a Small Business Owner

When you run your own small business, you've often got to take everything on, especially in the early days. You've got to be the head cook and bottle washer, as the old saying goes, as you concentrate on growth and operation. Yet there are some tasks that you really should consider outsourcing, even from day one. Bookkeeping is one of these. Why is it important to get third-party help with this, in particular?

How Can You Be Creative When It Comes to Your Home Loan Obligations?

Do you sometimes feel as if you have a stone around your neck when considering your home mortgage? Sometimes the very thought of those monthly repayments going on into perpetuity can be difficult to digest, but it shouldn't seem as if it's an insurmountable problem. There are ways that you can handle your mortgage payments and outstanding debt that could make you feel happy with yourself and less stressed. What should you be considering?

Why You Should Never Set up Your Own Business until You've Done This

Many Australians are deciding to strike out on their own these days and set up their own business. They may have had a germ of an idea for some time, but for whatever reason, now is the time to take action. With enthusiasm comes excitement and usually the individual cannot wait to get started. Why is it a good idea to pause for a second and think? Making A Good Plan

Should You Consider an SMSF to Safeguard Your Future?

Many people today are worried about their financial future, as there seems to be so much uncertainty in the world. Some of those people who are determined to take control of their future are considering whether or not to set up a self-managed superannuation fund. If you've been thinking along these lines, what should you know before proceeding? What Is an SMSF? The idea behind a self-managed superannuation fund, or SMSF for short, is to give you enhanced control over your retirement planning.

Tips For Entrepreneurs On Preparing A Business Plan

When you're seeking financial backing for a new business venture, a well-written business plan is essential.  An effective business plan should clearly set out your objectives for the business and should detail the strategy you're proposing to implement in order to achieve them.   So, how do you go about writing a good business plan? Here are a few pointers that you might find helpful. Set out the purpose of your business

Why You Need to Be Wary of the Taxman If Trying to Claim for Holiday Home Rentals

Many Australians are choosing to look in different directions for their investments as a result of a fairly sluggish stock market. One option they consider is the purchase of a holiday home for rental. This can be a lucrative proposition, but you have to be careful when claiming specific costs related to these rentals, against your tax. What has the ATO been looking at recently and what do you need to be careful about?