Reflecting on 22 Years of Growth, Challenges, and Exciting New Beginnings After 22 years of running Miss Efficiency, we’re excited to announce a new beginning – Miss Efficiency has been acquired by Blackwood Advisory and has become Blackwood Bookkeeping. It’s been a remarkable and challenging ride, filled with ups and downs, milestones, and countless lessons learned. Now, as I join forces with a larger team, I’m filled with excitement for the road ahead. This is not the end; it’s a new beginning. The Early Days and Key Milestones Miss Efficiency began as a knee jerk reaction to personal traged ..read more

As small business owners, we pour our hearts and souls into our business, often spending countless hours dedicated to our passion, and it can be difficult balancing business and joy. Business can become all-consuming, leading to tunnel vision and burnout, where we forget about other things that once brought us joy and balance. While being deeply involved in your business isn’t always a bad thing, it’s essential to maintain a healthy balance. Let’s talk about two of them here. Surround Yourself with a Support Network Having a network of people to share your business challenges and observations ..read more

As a small business owner, juggling multiple responsibilities is the norm. With June 30 fast approaching, understanding superannuation can save you a lot of headaches and potentially a lot of money. Let’s dive into the key aspects of superannuation you need to be aware of before the end of the financial year. Annual contribution limits for superannuation Concessional Contributions Concessional contributions are pre-tax contributions such as employer contributions and salary-sacrificed amounts. For the 2024 financial year, the concessional contribution cap stands at $27,500 per individual. This ..read more

In the world of small business, positive cash flow is king. It’s the driving force that keeps your business engine running smoothly. But what happens when more money is going out than coming in? Cash flow problems can threaten the survival and growth of your business. Here’s some things you can do to ensure you don’t face these challenges. Understanding Cash Flow Challenges Cash flow issues can be caused by many factors including things out of your control such as recessions, natural disasters, and wars. And some things that are within your control such as business decisions and performance. B ..read more

When Treasurer Jim Chalmers handed down the 2024-25 Federal Budget on 14 May 2024, it was clear that the government had a diverse range of objectives. From offering tax cuts to supporting vulnerable groups, the budget is packed with measures aimed at stimulating economic growth and providing relief. Let’s unpack the key points from this year’s budget, focusing on how they impact small businesses. Tax Incentives and Extensions Instant Asset Write-Off One of the standout features for small businesses is the extension of the instant asset write-off. This allows businesses to immediately deduct th ..read more

Do you want to successfully navigate year end? I hope so! In this webinar we’ll give you essential insights and strategies for optimising your business’s financial health. Learn how to accurately close your books, maximise opportunities, and set your business up for success in the coming year. Don’t miss this opportunity to ensure your books are in order and can make informed decisions to drive growth and stability. In this insightful session, we will delve into the heart of preparing for year end, and provide you with invaluable tools and insights to set you up for success in the coming year ..read more

As a small business owner, it’s a constant juggling act between how you can improve financial operations, increase revenue, improve profit, grow the cash. I recently returned from a business development week in Hobart that was full of learning, discussions, brainstorming, and invaluable insights into strategies for growth and improvement. The energy of the event was electric, surrounded by amazing business owners all at different stages but fundamentally striving for the same thing. The flight home was a flurry of pulling ideas out of my head and into my laptop. Getting home was the excitement ..read more

In the heart of every entrepreneur lies a fighter, whether they know it or not. My adventures through both the entrepreneurial and boxing worlds have unveiled some similarities between stepping into the ring and steering a business to success. Both arenas require resilience, skill development, and an unyielding commitment to fight for success, while being aware of the risk of a knockout blow in the next round. Drawing from my own experience from fight camp, culminating in a gruelling, yet rewarding boxing match, alongside my experiences in running a business, let’s explore the vital traits req ..read more

If you’re a contractor, it can be challenging to manage a hectic schedule and complex projects, all while ensuring your paperwork, documents, and contracts are in order; which is where good construction project management tools come into play. It’s important to keep a paper trail of your work and practice due diligence. Keeping all your working documents in order shows that you treat your business, customers, and subcontractors responsibly. This is not only a mark of professionalism but can also help you if you have an insurance or legal claim to deal with. Contractor paperwork documentation a ..read more

In the world of small businesses, positive cash flow is king. It’s the driving force that keeps your business engine running smoothly, covering all your liabilities. But what happens when outflow exceeds inflow? Cash flow problems ensue, threatening the survival and growth of your business. These cash flow problems can originate from a variety of sources including macroeconomic issues like recessions, natural disasters, and wars, as well as microeconomic issues like business decisions and performance. However, with careful planning and smart accounting practices, you can cushion or even avoid ..read more