Cashflow is incredibly important for businesses. More cash in the account means more capital to fund day-to-day expenses or buy new equipment. However, many small business owners report difficulties when it comes to the delay between issuing an invoice and actually getting paid. Six ways businesses can encourage clients to pay their invoices quicker Reduce delays in invoicing It’s a simple tactic, but sometimes, it can be easy to forget to raise an invoice for work that’s bee

Running a busy and successful business means you often don’t have the time to step back and work ON the business. This can be a challenge if your aim is to grow and scale the company. As experienced professional business advisers, we know the value of taking the time to ask yourself some pertinent questions. Holding yourself and the business to account is something we can help with. And there's never a bad time to pose a few questions and gauge where you're at with your plann

When you’re operating and managing a small business, you have a finite pot of cash to work with. Because of this, it’s incredibly important to manage your cash well and to have clear budgets and spending limits for every area of your business operations. Let’s take a look at why budgeting is such a vital part of your financial management, and what you can do to keep your company on budget and in a positive cashflow position. 4 ways to stay in control of your business budgetin

Starting your own ‘side hustle’ can be an exciting project and a great way to see if your new business idea has legs in the current market. But could your side hustle actually turn a profit? And is there a demand for the product or service you're offering? Five important questions to ask yourself before launching your side project 1. Is there a demand in the market? For your business to function, you need paying customers. Start off by researching whether your target customer

In the current economic climate, covering your operational costs and overheads can be a major challenge. Higher running costs are affecting all businesses, from large down to small. In Australia, a recent survey from Prospa shows that nearly half (46%) of SMEs have raised prices over the past three months to offset rising costs. And stats from the UK’s Federation of Small Businesses show that 85% of small businesses have reported that costs were rising. So, costs are a major

Starting a business can be a challenging experience, especially when it comes to managing your numbers and staying on top of your financial management. Unless you’ve got some experience in finance, the bookkeeping and accounting requirements can be quite daunting. And even with today’s helpful cloud accounting platforms and fintech apps, there’s always the possibility of making a simple accounting mistake. So, what are the most common accounting mistakes made by business owne

For your startup or small business to succeed, you need to take calculated risks – risks that may entail your business making a financial loss during periods of innovation or expansion. This spectre of financial loss can be a barrier for risk-averse business owners. But the new loss carry back arrangements, introduced in the Federal Budget 2026, go some way towards reducing the negative impact of financial losses – and encouraging your business to innovate. Let’s look at what

Starting a business is hard. Growing it can be even harder. Thankfully, there are plenty of different ways to access funds to help your business scale, from relatively low-cost options to ones with higher risks and returns. Find out more about four of the most effective funding solutions below. 1. Debt Finance When people think about funding a business, debt financing is the most common type of financing that tends to spring to mind. Traditional bank loans and lines of credit

Would you like to know more about the relationship between costs and revenue to make better business decisions? Your profit and loss statement (P&L) helps you understand your business performance and profitability over time. It’s sometimes called an Income statement and its main purpose is to list income and expenditure. Whereas a balance sheet is a snapshot in time, the P&L shows transactions over a specific period of time. This can be a month, quarter, financial year or any

From 1 July 2026, a new tax (Division 296) will be introduced to reduce concessional tax rates on superannuation earnings above $3 million. But how does Division 296 work, and are you affected? What is Division 296? Currently, income earned on superannuation balances is generally taxed at a headline rate of up to 15%. However, from 1 July 2026, individuals who have a total superannuation balance above $3 million will be subject to a higher tax rate on earnings in their supera

With operational costs escalating and the market still sensitive to price rises, you’ll have seen the term ‘margin compression’ being thrown around in many small business forecasts. But what exactly is margin compression? And how does this financial phenomenon impact your sales revenues and overall profitability as a business? Here’s how to identify and tackle the financial challenge of margin compression. 1. What is margin compression? Margin compression occurs when your ope

Cutting costs can be a key way to boost your profits. But how does managing your expenditure increase profitability? We outline the benefits of proactive cost-saving measures. Question: “Can cost-saving measures in the business truly be a key driver of profits?” Running a profitable business is one of your key goals as an owner. Without profits, there’s no capital to reinvest in the business, no funds to grow the company and no money for your own dividend payment at the end o

Changes in your customers’ behaviour and buying needs can seriously undermine the viability of your business strategy and your ability to generate healthy revenues. In the October 2025 edition of Fifth Quadrant’s SME Sentiment Tracker, changing customer behaviour was the number one SME challenge, with 45% of businesses placing it at the top of their list of ongoing issues, above the problem of rising costs. Four ways to update your strategy to meet these changing behaviours 1

Understanding the financial management of your small business is a vital skill as a business owner. And it starts with an awareness of two fundamental concepts: income and expenditure. Grasping the difference between what comes in, and what goes out, is crucial for your financial health, making informed business decisions and the overall survival of the company. Let's break down the basics. 1. What is income (revenue) and how do you generate it? Income, often called revenue,

Three steps to ensuring data is meaningful for your business Raw data describes the facts and figures that a business processes every day. Over time, every business hoards a certain amount of data and it only becomes meaningful to a business after it has been processed to add context, relevance and purpose. For example, in a restaurant, every order will be recorded. However, a restaurant won't learn much by looking at each one in isolation. However, analysis of the orders wil

Cashflow and profit are two of the most important financial metrics for any business. But while they’re both related to the financial performance of a company, they measure different things. Knowing the difference – and how cash and profit contribute to your success story – is a vital skill if you want your business to have the best possible financial health. The difference between cashflow and profit Understanding the technicalities of financial reporting can be daunting as

Making time to look over your financial reports each month is an important task for any business owner. If you are not taking time to do...

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For centuries, accounting was all about reviewing historic information – but that only told you about the past, not what was going to...

As the owner of the business, you’ve set your company up so it delivers on your own personal goals. But you also want the business to...