Business and Finance

How do you define value? What value do you provide for those who purchase your products or services? These are questions that many business owners are unable to answer, and yet having the capability to add value is one of the most important factors in business. Let’s take purchasing your morning coffee for example… You go to a particular café most days but today the café that just opened up next door catches your eye, so you decide to give it a go. What harm can it do, right? Your coffee usually takes a while because everyone has the same...

ATO “Bank” or not? Anyone in business would agree that with the current economic climate, many business owners/ managers are suffering from a never-ending headache, trying to manage their cash flows. Having tight debtor collection policies in place is a fantastic way to start, however unless you have solid cash reserves, you may find yourself juggling payments to your creditors at times. In these circumstances, we see many business owners enter into payment plans for their tax obligations with the ATO (Australian Tax Office). We ask whether this is a good idea and what other options there may be. Firstly,...