Withholding retention payments in construction can affect subcontractors’ cash flow and profitability. Often used in the construction industry, retention is a fixed percentage of the total payment due for a contract, withheld for a period after the work is completed. It’s there to make sure that the contractor or subcontractor properly completes...
Find out more about the pros and cons of short term leases and one could be right for your business.
All new businesses start with an idea. Conducting thorough research during the business start-up phase can help you discover if you’re on the right road to success. We know there are a number of costs associated with starting and running a business, so we encourage you to make use of the wide range of free information and resources available to...
The Australian Taxation Office (ATO) has recently announced changes to how your employees can calculate tax deductions if they work from home. Here’s your guide to the changes. Millions of Australians work from home for some or all of their working week. If your business is structured to have your employees working from home at some stage, they...
There’s a fine line between being a business contractor with an Australian Business Number (ABN) and being an employee. If you’re a contractor with your own ABN, read these tips to help make sure you’re being treated fairly and meeting your obligations. In some industries, for example in the construction industry, it’s common for businesses to...
If your rent is due to increase based on the consumer price index, here’s your guide to how it works and the calculations which could be used to work out your rent. The consumer price index (CPI) is a measure of how much the average costs of a fixed basket of goods changes over time. It is calculated quarterly and published by the Australian Bureau...
When opening and evolving their landscaping supply business in Albany, owners Jane and Ian sought guidance from advisers at the Albany Business Centre, the SBDC’s Business Local provider in the Great Southern. Designer Dirt in Albany is more than your average landscaping supply centre. Opened in 2012, the business could be seen as an extension of...
Being authentic and true to oneself has been Michelle Rimmer’s mantra since the launch of her business, Hills Massage, 20 years ago. Reflecting on her business journey, Michelle said she would tell the younger version of herself that consistency is the key to success. “You have to be consistent in the quality of your or product, your communication...
Great news! You don’t need to provide an on-site video arcade, unlimited holidays or free pet-sitting to be an employer of choice. With these simple ideas, you could create the kind of workplace and culture your team will love. You might spend a lot of time and effort attracting customers to your business – but how much have you invested in...
New laws designed to create greater flexibility for companies to either restructure their operations to survive, or liquidate their company in a more orderly and less costly way, have now become law.
Small businesses in construction may feel pressured to quickly sign on the dotted line to secure work. But being unfamiliar with certain terms and clauses in contracts can lead to you working on unprofitable jobs or worse — paying out your client when things go wrong. Celia Jordaan, procurement consultant from Ichiban Commercial Consulting joined...
Small business owners with a business tax debt are encouraged to work with the Australian Taxation Office (ATO) to help manage it. Dealing with financial stress while running a business can be difficult. It is often tempting to brush it aside and deal with it at a later stage, or panic and try to resolve your debt through a short-term solution...