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When inflation hits your profits, all businesses need to review their costs, their prices and the structure of their business, or risk going backwards.

It’s no secret that small businesses have been doing it tough over the past two years. With ongoing lockdowns and restrictions in place throughout 2020 and 2021 due the COVID-19 pandemic, many small businesses have been on the brink of collapse.

Expert help is available

I read an interesting article recently in Domain talking about the tough lending landscape, the increasing difficulties around securing a loan and a reminder to always seek expert advice.

Watch our Federal Budget Summary 2021.  This is a recording of the webinar held on 14 May 2021 and provides a summary of the key budget initiatives which impact on small to medium businesses.

We get it; you like to have oversight and control of all the parts of your business.

Small Business Bookkeeping Myths

In your small business, it feels like you have 101 things to do. And depending on the size of your small business, that might include Bookkeeping. But is that true? And what other myths about Bookkeeping are out there, that actually hinder your accounts being accurate and relevant to you as the business owner? Our post on Small Business Bookkeeping Myths will show you some of the misunderstanding that Small Business owners might have about Bookkeeping and Bookkeepers.

Have you ever wondered how to set up a company? You don’t need to be in business to have heard the term, “Company”. The term is bandied around all the time, and is often considered to be interchangeable with the term “Business”, even though it’s only one type of business.

Business failure rate in Australia

As a small business owner, you are no doubt aware of the statistics surrounding small businesses and the high business failure rate in Australia. 60% of businesses will fail in the first three years, and of those who fail, 50% are profitable. The fact is, many small businesses do not survive for very long, and definitely do not thrive in their industry. And sadly, business failure can happen even if you’re profitable due to many other factors.

You don’t really need a business accountant, and I will tell you why. You need so much more…

What’s Your New Year Resolution For Your Business This New Financial Year?

With the new financial year almost upon us, it’s the best time for businesses to review their financial goals. Inline Partners will help your business grow, by sharing our small business expertise with you.
Through setting objectives, goals and KPI’s (Key performance indicators), business owners can monitor the financial health of their business and ensure optimal growth.
But this year, there is a whole new set of numbers to compare your business progress against. As you might have heard, the Australian Tax Office (ATO) is urging small businesses to make use of the new small business benchmarks.