Business Advice

South East Metro Business Enterprise Centre Inc - small business advice centre - Perth, WA

Tue, 30 Aug 2011 01:52:00 GMT

Need good quality business advice and the expertise of a proactive accountant?
Small business owners seeking the right advice to start, grow and to dramatically improve the performance of an existing business should book a FREE One Hour consultation with our senior Business Advisor.

With over 25 years of hands on business experience and an excellent team of accountants we have the solutions to your business challenges.

The key issues are often sales, profit, cash flow and working capital. A shortfall in any of these critical areas will be very detrimental to any business including yours.

Talk to us... we have the solutions to your business needs.

South East Metro Business Enterprise Centre Inc

Tue, 30 Aug 2011 01:48:00 GMT

South East Metro - Business Enterprise Centre Inc - a one stop shop small business advice centre
The Business Enterprise Centre (BEC) is a not-for-profit organisation that provides quality, low-cost advice to start-up and established businesses. The centre is located in Welshpool, Western Australia, and is part of a national network of 110 Australian Business Enterprise Centres. The BEC has operated for over 15 years and is partially funded by the Australian government.

Proactive Accountant - Do you have one?

Sat, 27 Aug 2011 23:08:00 GMT

Just how proactive is your accountant?
Do you meet just once a year to do your tax returns and that's it?
We are seeing many small businesses who pay either a bookkeeper, a BAS agent or tax accountant to do their books.
In extreme cases the business is using a combination of all three; they do not even know each other and all work remotely at considerable expense to the client.
Incredibly the small business owner still has no real idea about the performance or real financial position of the business.
How can this be you ask?
Simply put there is no one on watch - busy yes, accountable no. Adding value to clients business - hardly.
In very many cases the process of accounting for a small business is extremely inefficient, expensive and of very low value to the business. In the background there is a very substantial real cost to the owner of the business who is sponsoring the business through long hours and having their equity position eroded.
In many cases this situation arises from a lack of knowledge - you don't know what you don't know.
The smart thing to do would be to ask someone that does to address this most urgent of situations.

Small Business - Survival of the fittest - Will your business be one of them?

Tue, 30 Aug 2011 01:51:00 GMT

Small Business will be survival of the fittest.
The last 6 weeks has seen an increase in business seeking advice as a result of a down turn in sales of their product or service.
However, when examining more closely what has transpired it is readily apparent that the result we are seeing today are the direct outcome of the lack of actions that should have been taken place 12-24 months ago. There has been a failure to implement sound advice, good strategic decisions or worse a failure to understand the financial reports that were making the lack of business performance very, very clear.
The number #1 issue in many cases is that the financial position of the business has deteriorated to the point of no return and little can be done to rectify the situation when no further funding is available to trade out of the situation.
This then brings a host of new issues that small business owners and company directors should be aware of but often are not, of their responsibilities as a director particularly in regard to insolvent trading, Div 7 loans [company to director] and liabilities of directors in regards to PAYG withholding payments and soon to be Super payments.
If this is starting to resonate with you about your business or you know of a small business heading into a similar situation - the solution is take advice fast!

Small Business WA - Management Capability

Sat, 27 Aug 2011 23:14:00 GMT

Small Business Management Capability
Small Businesses need greater management capability to achieve the level of profitability and growth required to survive in today's market place. To-date many have got away with deficiencies in this area however we are seeing many examples where this lack of management skills has caught up with them and they now face the very real possibility of going out of business.
If you do not have the management experience or expertise in- house it is imperative that your get someone on board either out sourced or in a part time role to ensure you do not face extinction!
Come on in for a chat and our Senior Business Advisor can assist you to get on track fast.

How to start a new business in Perth, WA, Australia

Sat, 27 Aug 2011 23:13:00 GMT

Starting a new Business
The very first step is you must take good advice from someone who is qualified to assist you. That is someone with direct hands on experience in owning and operating small businesses, who also has sound accounting, finance and marketing skills and definitely not someone who has spent their working life as an employee - small business is just a completely new world.
We have a very simple, yet powerful tool that will provide you with considerable insight into what makes a good, sound financial model without which business cannot succeed.
We provide this tool to every single client we advise at the first meeting as it provides the foundation to every decision that is made including creating, staffing, financing and marketing the business.
Do yourself a huge favour and save yourself many thousands of dollars in the process. This is information that you most definitely should not be without.

Trusted Business Advice essential to your business success

Sat, 27 Aug 2011 23:10:00 GMT

Trusted Business Advice.
The value of trusted business advice to your business can not be understated. Time and again we see business outcomes that have cost a bomb and could have been so easily avoided. Just 10% of the same cost could have had the business and the owner in a vastly different place, given what they now know!
Success in small business is a well trodden path and there are many experienced business practitioners available who are only too willing to share their knowledge, experience and expertise to ensure that the path that you are going to take is going to be one that rewards your endeavours. A great place to start is here at the BEC where we have more than 30 years of valuable experience to add more profit to your bottom line.

BUSINESS WOMEN'S FORUM 13/07/11

Sat, 27 Aug 2011 23:12:00 GMT

Telephone and Email Etiquette

THREE SECONDS...

Thats the time it takes your potential customers to form a lasting impression of your business over the telephone.

For the caller, this becomes their reality and will determine their attitude and whether or not they choose to do business with you.

You never get a second chance to make a first impression

CRUCIAL QUESTION ... is it important to your bottom line that YOU or your front-line staff:
• Have the confidence and skill to manage all types of customers, including the really challenging ones?
• Take ownership of customer needs?
• Build stronger relationship with customers?
• Recognise the value of customer grievances as constructive feedback?
AN EVEN MORE CRUCIAL QUESTION ... Do you know how your business is experienced in the eyes of your customers?

Ava Lucanus from Edge Telephone Training helps businesses Australia wide to positively create that crucial first impression and is delighted to share with you her top three tips for micro and home based businesses.

For more information or to book your place go to Events

Small Business Accountants - Perth

Sat, 27 Aug 2011 23:17:00 GMT

Small Business Accountants - Perth
Every small business should have a good working relationship with an accountant who knows and understands the needs of small business. Most importantly the accountant should be able to diagnose what the issues are with the performance of any small business - and they are always issues - and provide prompt advice to enable you to take immediate action.
The most common issues we see are lack of cashflow, low gross profit margins, inadequate working capital and business owners paying themselves more than the business can possibly afford.
If any of these issues resonate with you, you need to talk to us fast and save yourself a fortune in the process.
Ph 9351 5824 for an appointment.

What price for great business and accounting advice?

Sat, 27 Aug 2011 23:16:00 GMT

What price would put on great business advice and accounting advice for you small business?
The answer to that is it must always be relative to the value you receive as a result of the advice provided.
You should be able to equate the value any product or service you use to a financial benefit to your business.

Like any other investment decision you should expect a multiple return on evey dollar spent

If you are advertising and there are no new customers or sales as a result stop the exercise and find a better way.

Often when we review clients business financial we find the amount spent annually on accounting and business advice is moreless non existent. That is there just enough to address the compliance and record keeping requirements and nothing more.
At the same time we find the business owner are paid poorly for their endeavors or worse there are trading losses.
Now all of this is avoidable with good advice, a proper financial plan and budgets and regular monthly reviews.

When a business ceases to trade and goes into liquidation the creditors will agree to appoint a liquidator. The cost of this exercise can be as much as $50k which rapidly diminishes the outcome for everyone - creditors, staff, owner.

Again this situation is avoidable at a very modest cost by comparison.

If you are experiencing any trading difficulties you most act fast and seek advice.
For every day that you leave your call to action the cost escalates rapidly.

Call us now [08] 9351 5824 chris@metrobec.com.au

Small Business Advisors Perth

Sat, 27 Aug 2011 23:15:00 GMT

Small Business Advisors - Perth
Have you got one? If you are a small business owner and you do not regularly use the services of a good small business advisor you are selling yourself short. You could dramatically improve the performance of your business using the hard earned skill, experience and expertise of an advisor who has earned their stripes with direct hands on business experience at a fraction of the cost to you.

Call us now [08] 9351 5824 or chris@metrobec.com.au

Tony Wheeler, founder of Lonely Planet, talks about Intellectual Property (IP)

Thu, 23 Jun 2011 05:56:00 GMT

As part of World Intellectual Property Day 2011 celebration, Tony Wheeler, founder of Lonely Planet was invited to talk with small business about the importance of IP protection and the way strategic use of IP can help to build a global brand.

Tony speaks about the history of the Lonely Planet brand - how he met his partner Maureen in the 70s, how they founded a small Melbourne-based company and used their own travel experiences to develop what is now internationally referred to as 'The Bible' for tourists.

In a life filled with travel, Tony's got a million stories and he shares some of the adventures he's had along the way.

http://www.youtube.com/watch/?v=Fx2rOxA_NOQ

What are you doing this weekend? Bookkeeping?

Fri, 24 Jun 2011 05:23:00 GMT

For most of us in small business the answer to that is that you are catching up on administration and, in particular, BOOKKEEPING.

If your tap leaks you call a plumber, you take your car to the mechanic to be serviced. Why do you still struggle with your bookkeeping when we can take care of it for you?

What we offer is:

• one day per month dedicated to your bookkeeping, or more if necessary;
• access to your data 24/7;
• management accounting advice, to help keep your business on track;
• BAS report preparation and lodgement;
• Tax advice
• Tax return preparation and lodgement.

So, regain your weekends with the family. Stop the anxiety of completing your bookkeeping and BAS, let us take care of it for you.

Take back your life today – call 9351-5800 and make an appointment with Chris Gray to discuss your needs.

It’s Almost Tax Time

Thu, 16 Jun 2011 03:08:00 GMT

Tax can be scary if you are not "in the know" and in small business the last thing we need is negative financial surprises. Preparation is everything; get organised, know what your liabilities are and prepare well. Following are some tips to make End of Year as painless as possible.

Your Business — Your Responsibility
Tax and your business is your responsibility. The first tip is to do your research, meet with your accountant early and know what's required. Ignorance is no excuse in the eyes of the ATO. Become comfortable with tax and tax terms.
Good Accountant
Find an accountant who is willing to support you all year round - not just at tax time. You can save yourself from tax shocks by regularly speaking to your accountant. Meet with your accountant quarterly, or if you really want to know how your business is tracking make it monthly.

Business Taxes
Like most things in life, if you know what you are up against it's much easier to deal with. Here's a quick list of the tax issues faced by businesses.
The BAS (business activity statement (BAS) is a statement businesses use to report your GST obligations, and also includes Pay As You Go (PAYG) instalments, PAYG withholding and Fringe Benefits Tax (FBT) instalments. FBT is a tax payable for any benefit provided by an employer to an employee, or their associate.
Finally there is Payroll Tax. A state tax on employing staff.

Record Keeping
Doing business means dealing with paper. Efficient filing and handling of paper is important. Being able to find a document can be a nightmare without an effective filing system. Time is money!

Questions for Your Accountant
Business is tough enough without unexpected surprises. Here are some questions you should ask your accountant to prepare yourself for tax time:
• Which taxes are applicable to you and your business?
• When are they due to be paid?
• What tax deductions may be available?
• What and how should you be recording business transactions?
• How does the paperwork need to be recorded and filed?
Above all if you are not sure about anything ask questions- remember, the only stupid questions are the ones unasked.

Are you Planning to Fail?

Wed, 08 Jun 2011 07:54:00 GMT

We have all heard the old adage "if you fail to plan you plan to fail”. Sometimes we hear it and think, yes, that makes sense I must write a business plan. On other occasions we write a business plan to get a loan. Once we have the plan written and the loan approved it is put on a shelf and never referred to again.

What is a business plan?

Think of your business plan as your road map to success. This is a journey - you know your starting point (well you do don’t you?); it is where you are right now. You know your destination – what you want to achieve from your business. This may be fame and fortune or it may simply be to earn enough to live on by doing something you love. Your business plan is your map to achieve this.

A business plan shows what you need to do to achieve the results you want. I have seen too many business plans that start with 'what sales do you think you can achieve'? It starts with a guess so how can it give realistic results?

A better way to develop your plan is look at what net profit you need. You can then work backwards through what are your expenses, what is the cost of the goods or services you are selling and what is a realistic mark-up on those goods. When we have all these figures we can look at how realistic is it that you can provide those goods or services.
Good business plans develop into a budget and then the budget is updated with current results to produce a forecast.
Add into your business plan not only a view of your profit and loss but also your cash-flow. The cash requirement can then be identified for the coming months. Many small businesses fail at the first hurdle because they do not have enough working capital.

Finally, remember a business plan is a living, working document; it is never finished until you sell the business and retire.

If you need help with your business plan, bookkeeping or accounting please contact us.