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Budget is not a dirty word!
September 15, 2021The advantages of budgeting for small businesses Small business owners vary in the attention they give to budgeting. Some take it seriously, others would rather steer away from the concept of budgeting and just get to work. To many small business owners ‘Budgeting’ is a dirty word, but the truth is that many business owners […]
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Not-For-Profits: Board Members and Risk Avoidance
August 25, 2021How to manage risks Risk is everywhere: it is inevitable in business of all kinds, at all levels. And so risk management – or risk minimalization – is both a critical, but also a common task. Not-for-profits (NFP’s) face many of the same challenges as ‘for-profit’ organisations but they also face an additional layer of […]
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Small Business COVID Hardship Fund
August 13, 2021There is no doubt that Victorian small businesses have been hit hard by the rolling lockdowns, both by restrictions on trading and also ongoing uncertainty on the ability to undertake and deliver projects. Throughout lockdowns 5 and 6 economic support has been provided by the Victorian Government, but a number of businesses have fallen […]
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Price and Profit
August 11, 2021Do you have the right price! The most significant business variable for delivering significant profits straight to the bottom line is price. Ironically, it is also the variable that many business owners are most reluctant to tinker with. Some business owners can be quite entrepreneurial in their willingness to raise or increase prices, but many […]
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Lockdown 5.0 Support Payments
July 29, 2021As hard as it is to believe, Victoria is once again emerging from another lockdown, the fifth since last March. With many businesses still struggling to recover from the last four lockdowns and the JobKeeper program finished, the Victorian and Federal Government have announced further support measures to assist certain businesses and individuals. The most […]
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New Financial Year Resolutions
July 29, 2021For most businesses in Australia a new financial year has just started. Whilst still under the cloud of the Covid-19 pandemic, some businesses are thriving and others are struggling with both lockdowns and ongoing threat of further lockdown. Regardless of which circumstance applies, it will be worthwhile considering whether your business should be making any […]
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What to do if profit is high but cash flow is low
June 30, 2021Struggling to pay bills on a daily basis? Strong profit does not necessarily mean a healthy business, and this can be reflected in cash flow. There’s nothing more frustrating for a business owner than having your accountant tell you that you’re making strong profits – but you are struggling each day to pay bills. Overdue […]
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2021 Minimum Wage Increase
June 28, 2021The End of the Financial year is fast approaching and from 1 July 2021 there will be some changes to the minimum wage! The Fair Work Commission has announced a 2.5% increase to minimum wage. There is also a 0.5% superannuation increase which comes into effect from 1 July so employee’s need to be budgeting […]
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Not-For-Profits: only the fittest survive
June 15, 2021Shifting to a new kind of Not-For-Profit (NFP) So much has changed with NFPs. The shift has been pushed from within NFPs as well as from external pressures. My name is Cameron Flynn and I have worked on numerous Not-For-Profit (NFP) organisations throughout my career at Accru. Looking back, I’ve noticed a considerable shift in […]
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Insurance Premiums – Control Them Before They Control You
June 9, 2021Why insurance premiums Insurance in all areas provides security, incentives and peace of mind. In many ways Life Insurance is the ultimate insurance in providing for future needs, but plan wisely. Life insurance should not primarily be about the cost, but about the purpose. Even if you have taken the time and effort to implement […]
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