‘Tis the season to be optimistic for Australian business owners, with one in six wanting to start another business. The insight comes from the latest MYOB SME Snapshot, which also found that just 10 percent of businesses were either ‘quite pessimistic’ or ‘very pessimistic’ about their prospects in the coming year. Overall, 64 percent of…
Consider it polygamy of sorts. If you want to stay in business long and prosper, you have to commit to your customers. It’s no longer enough just to satisfy them. The quality of a business’ revenue is as important as its quantity. Loyal customers represent quality revenue. Let’s take for example a small restaurant located…
Mitchell Partners would like to wish you and your family a very Merry Christmas and Happy & Prosperous New Year! Please note that during the Christmas/New Year period, our office will be closed from Friday 23 December 2016 and will re-open on Monday 9 January 2017. Please call 03 9895 9333 or email admin@mitchell.com.au in…
The world turns fast these days and businesses are continually faced with changing landscapes. New technologies, regulations, and global competition — just to name a few — present challenges and opportunities to keep our business up to date and relevant. Reactive or Proactive – where do you stand? Many of us run our businesses in…
When it comes to running your own business, keeping your accounting in order must be an achievable goal. That said, there are times where a little lack of discipline can cause some headaches down the track. Rather than getting yourself in a bind later, let’s have a look at some simple steps you can take to…
Cloud accounting has been around for quite a while now, but even still, the idea of taking our data to the cloud can be a little confronting for some. With these technological enhancements, there’s never been a better time to understand the opportunities to optimise and grow your business. 1. Access anywhere, anytime With cloud accounting solutions, you…
Is it the economy or are some competitors doing quite well? If you’re ever in a situation where your revenue or profits are falling year on year, it’s really important to find out why that’s happening. A common response to the question, “Why is your revenue falling?” is “It’s the economy – it’s really tough…
Super changes The changes to the superannuation (super) system, announced by the Australian Government in the May 2016 Budget have now received Royal Assent. These changes were designed to improve the sustainability, flexibility and integrity of Australia’s super system. Most of the changes will commence from 1 July 2017. Your super is your future –…
A well-established barber shop in a small town was hit hard when a new barber moved into the area and set up in competition. Having held somewhat of a monopoly prior to the arrival of the competitor, the barber had become complacent and benefited from false loyalty. It all came home to roost once the…
The mere mention of BAS is enough to make many business owners break out in a sweat! Even more stressful than that is having to come up with the cash to pay each Business Activity Statement! The stress associated with BAS time can be more easily managed when you fully understand what activity statements are,…