Don’t let COVID break you As small businesses owners, we are typically an overextended breed who throw everything we have into our business. And usually will emotionally invest so much of ourselves in the business, that  we can run the risk of losing a proper sense of balance in our lives.  And now more-so than ever before, the brutal uncertainty and turmoil associated with COVID-19 and the punishing effects of forced ‘lockdowns” have required us to draw upon all of our physical and mental resources, in order to stay afloat. Some of you reading this article may likely have felt so ..read more

Features and benefits of a sole trader business structure in Australia  If you’re weighing up whether to start your new business as a sole trader, you might consider the following points as some of the key elements of this particular business model. A sole trader business structure:.... 1. Is simple to set up and operate 2. Gives you full control of your assets and business decisions 3. Will require fewer reporting requirements and is generally a low-cost structure 4. Allows you to use your individual tax file number (TFN) to lodge tax returns 5. Doesn’t require a separate business bank ..read more

Reflections on 2020 and the opportunities that emerged COVID-19 was a major disruptor throughout 2020 for businesses across Australia, with many States imposing tough restrictions upon the way people could interact.  Job-Keeper helped to prop up many small businesses, but never-the-less many were forced to “pivot” in order to survive and be innovative in the way they operated.  During the “worst” of the COVID crisis, which was also accompanied by an economic recession, there were numerous small businesses that were unable to remain viable and others that experienced a significant dr ..read more

A brutal business environment, which few of us have ever encountered Owning and running a small business can be challenging at the best of times. However, few business owners would have faced a more challenging business environment than the one we currently face in 2020. With the COVID-19 pandemic and the unprecedented government restrictions that have been introduced to limit spread of the virus, there is enormous uncertainty and even anxiety in the community. Social distancing, the banning of social gatherings, the government push for us all to “stay at home”, the disruption to weddings ..read more

Tips For Adapting and Coping With the Pandemic Are you finding it hard to know how you can proactively manage your business during the corona-virus pandemic? Here's some suggestions .... 1. Understand your current financial position It’s essential to make informed decisions about your business based on your current financial position. Pending restrictions imposed by government, your ability to trade through this period, pay outstanding debts, keep employees or meet existing leasing or loan repayments will be determined by your financial position. Contact your accountant to discuss the various ..read more

The real risk of a recession in Australia In an opinion piece written for the Financial Review on Aug 29, 2019, the former Australian Prime Minister Kevin Rudd argues that Australia has a one-in-three chance of entering a recession in 2020.  He points to various geopolitical and global economic forces which can impact on Australia and cause a significant economic downturn. The escalating U.S-China trade war The likelihood of a hard Brexit, with no trade agreement being reached between the U.K and Europe An extended  10 year period of growth in the U.S economy, with fears a l ..read more

I An online marketplace that makes buying & selling a small business easy If you are an entrepreneur thinking about either buying or selling a business, then this article will offer some great tips that can make the process a lot easier for you. I It's a big decision that will have ramifications both for you and your family, so you want to make sure whatever you’re doing is for the right reasons. There can be a lot of emotion around the prospect of either exiting or buying a business – and you need to ensure that both “head” and not just “heart” are playing an equal part in any course of ..read more

Kortney Olson , founder of the GRRRL  brand Kortney Olson is carving out a niche space in the multi-billion dollar industry of women’s active / leisure wear. She is the founder and dynamic CEO of “GRRRL”, a brand that reflects a spirit of physicality, independence and authenticity. Traditional sportswear brands tend to target women of “standard” sizes, whereas the GRRRL brand caters for women of all sizes and their marketing specifically features women of large plus sizing. Like any entrepreneur, Kortney’s motivation and determination in establishing and growing her business ..read more

Sandy Colombo is a business coach It's always interesting speaking with a business coach and getting their thoughts around what it takes to succeed in business. Sandy Colombo is the owner and founder of Colombo Consulting, based in Melbourne Australia.  I had the pleasure of chatting with Sandy recently and she shared some great tips and advice relevant to both start-up entrepreneurs as well as experienced business owners (who can sometimes lose their way) ....  Sandy, for many years you’ve been running a consulting business – but you initially came from working ..read more

As a startup or even home-based business owner, it can be hard to establish a name for yourself. One of the early challenges is that you are initially relatively unknown to the market, with an accompanying challenge typically being that you don’t have enough resources and network connections to build the profile you need. This is the reason why many startups often don’t blossom into a sustainable business. Aside from the early lack of financial resources, there is the harsh reality of ensuring that you have found a way to differentiate yourself from your competition. Cash flow strain is ..read more