1. Articles in category: Bottom Line Magazine

    1-24 of 33 1 2 »
    1. Australian Competition and Consumer Commission Allows Cooperation Between Businesses

      Australian Competition and Consumer Commission Allows Cooperation Between Businesses

      Thought we'd share this fascinating piece from the Guardian. It's called ACCC allows business competitors to work together in coronavirus 'war effort'.

      It's a highly informative article that would definitely be of help to small business owners. Here's an excerpt that talks about some of the most crucial points:

      We’re basically seeing the pandemic like a war in the sense that we do need increased supply of things and basically most of the behaviour we’re allowing competitors to engage in is maintaining or increasing supply of goods or services on the one hand and ...

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    2. What You Can do To Help You Hit the Ground Running When the Lockdowns are Over

      What You Can do To Help You Hit the Ground Running When the Lockdowns are Over

      Just because there's a lockdown doesn't mean that you can't be productive in the comfort of your own home. This piece from the Independent that has some things you can do at home to help you hit the ground running when the lockdowns are over.

      It shares some interesting things you can do at home. Here's one that we thought that we all could use:

      If you're still a holdout to paying bills online, this is the perfect time to get set up. If you're just getting started, entering the information for all of ...

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      Mentions: Home
    3. Business Building Doesn't Have to Stop Just Because of the Pandemic

      Business Building Doesn't Have to Stop Just Because of the Pandemic

      Just because social distancing and lockdowns are in effect doesn't mean that building your business has to come to a halt. Here's an article from Lifehacker that  shares a few things that you can do to help you and your business hit the ground running when the pandemic is over.

      Here's one that's really thought-provoking:

      There are probably a bunch of things you do that you know could be done better but you lack the time to stop what you're doing and objectively assess whether with there's a better way. A great example is ...

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      Mentions: Money
    4. You Should Update Your Google My Business Listing to Avoid Confusion

      You Should Update Your Google My Business Listing to Avoid Confusion

      As the virus continues to spread globally, the impact across industries is unavoidable. Businesses should do their best to communicate changes and updates to their customers. 

      The lockdowns have caused a lot of confusion for most people not knowing if their favorite boutique deli or cafe are open or not. So, don't add to the confusion by neglecting to change your Google My Business listing.

      Here's a list of things that you need to do according to Digital Maas:

      • Business Hours
      • Business Description
      • Business Phone Number
      • Google Post

      To read this article more in-depth, click on the link ...

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    5. Tax Tips and Stimulus Packages for Self-Employed Individuals and Small Businesses in Australia

      Tax Tips and Stimulus Packages for Self-Employed Individuals and Small Businesses in Australia

      There are some really stimulating insights in this Smart Company article. It's called Coronavirus Stimulus: Tax Tips for Self-Employed People and Small Business Owners.

      In it, Mark Chapman shares some interesting perspectives. Here's one that we thought was worth taking note of:

      The federal government has already acknowledged the measures announced last week won’t be sufficient to keep the small business sector afloat, and it appears more stimulus measures will be announced imminently as the economic clouds darken.

      Whilst additional tax deductions and reductions in compliance burdens are welcome, these sorts of measures don’t really address ...

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    6. Stimulus Packages Are Already Being Crafted

      Stimulus Packages Are Already Being Crafted

      Here's a good news to small businesses. The government is doing it's part in helping us out.

      In this short article from Smart Company, we learn a couple of ways it's doing so. Here's one that really put a smile on our faces: 

      The New South Wales government is also scrapping certain fees and charges that apply to businesses in vulnerable sectors.

      These include fees for bars, cafes, restaurants and tradespeople.

      The total allocated for this measure is $80 million, but it is not yet clear exactly which fees will be waived, or for how long ...

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    7. Australian Government Moves to Aid Small Businesses

      Australian Government Moves to Aid Small Businesses

      Thought you could use some good news in the middle of the health crisis with this article called The government is writing cheques to small business owners: This is how much you’ll get. 

      It's by Smart Company's Jason Andrew. In it, he shares:  

      Eligible small and medium-sized employers will be provided with a 50% tax-free ‘cashback’ of up to $25,000 (and a minimum of $2,000) on their PAYG Withholding on wages between January 1, 2020, and 30 June, 2020.

      He further elaborates in the rest of the article so do give it a good read ...

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      Mentions: Health
    8. The Importance of Knowing Your Numbers

      The Importance of Knowing Your Numbers

      There are a lot of interesting gems in this article from CNBC. It's called The financials every entrepreneur needs to know so the doors stay open for business.

      Here's one insight that we feel is important that we echo:

      Unless you track the numbers, you don’t know how much you are actually bringing in.

      So, how well do you track your numbers? There are a lot of tips that'll help you improve on this in here so do check out the full article at the link below...

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      Mentions: Locals Money
    9. Understanding Your Business' Finances

      Understanding Your Business' Finances

      Here are some useful tips from The Muse. It's an article called Get Your Business Finances in Order.

      We thought we'd share it because of the insightful tips. This one's a particularly interesting excerpt:

      Contribute to your retirement account regularly, even if it’s a mere $100 per month. A 47-year-old woman I recently spoke with told me she’d been earning $100,000-plus for over 15 years—but she’d never opened a retirement account. Don’t be like that. She now has much less time to save and to accumulate interest on her savings—and ...

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    10. Common Legal That Can Cost Your Startup Everything

      Common Legal That Can Cost Your Startup Everything

      Launching a startup can get pretty chaotic. And if you don't cover your legal bases early on, it can get even messier. This article from Forbes can help you prevent that. It's called 15 Big Legal Mistakes Made By Startups.

      In it, Richard Harroch, Lynne Hermle, and Ellen Ehrenpreis, combine their collective experience for an in-depth look at the legal conundrums that startups usually face. Here's one suggestion that we thought we should echo:

      If you start your company with co-founders, you should agree early on about the details of your business relationship. Not doing so can ...

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    11. Financial Mistakes To Avoid Especially if You're a Startup

      Financial Mistakes To Avoid Especially if You're a Startup

      Even if you have an earth-shattering business idea but you tend to mismanage your finances on the get-go, your business might not get too far. This article from Business.com tries to make sure that this doesn't happen to you.

      Chris Porteus shares some sensible ideas here that we thought we should echo on to our readers. Here's one that we thought is worth the share:

      Unless you happen to be a steakhouse catering to investment bankers, most new businesses simply don't need a prime location or luxury office space. While some businesses may find themselves in ...

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      Mentions: Money
    12. How Do We Properly Account for Social and Human Capital

      How Do We Properly Account for Social and Human Capital

      Institute of Chartered Accountants in England and Wales presents us with some interesting ideas in this article. It's called Accounting for capital: natural, social and human

      There are some thought-provoking insights here that we just couldn't help but share. Here's one of them:

      If business does not understand its dependencies on nature, people and society, these are more likely to have a negative impact on business, putting success at risk. Recognising the value of these relationships opens the door to triple-win scenarios that deliver benefits across the system.

      If this short excerpt piqued your interest, just click ...

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      Mentions: relationships
    13. Making Sense of RPA, AI, and Blockchain in Accounting

      Making Sense of RPA, AI, and Blockchain in Accounting

      In the Black has been publishing really interesting content lately. Here's one where they talk about how accountants can take advantage of RPA, blockchain, and other technological advancements.

      In it, University of Melbourne's Michael Davern, shares:

      We are the original business data specialists. To me, accounting is the science of measurement combined with the art of persuasive communication to enable savvy business decision-making. It is business storytelling with data.

      It's an insightful article that we at Bottom Line Magazine just couldn't help but share.

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    14. What Accountants Can Really Do For You

      What Accountants Can Really Do For You

      Stumbled upon this fascinating piece from Business Insider. It's called 6 things you probably didn't realize your accountant can do for your small business.

      There are some really thought-provoking ideas in it. Here's one that we found really interesting:

      accountants help clients gather the information and data necessary for a loan, from quantifying the current financial condition and credit need to identifying repayment sources. With this data, accountants can also work with clients to craft compelling loan applications that can improve the chances a bank will approve the request.

      There are more insights to be gleaned from ...

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    15. Running an Efficient Call Center Operations

      Running an Efficient Call Center Operations

      Stumbled upon this interesting article from Customer Think and thought that we would share it with you. It's called 7 Metrics to Benchmark Your Call Center for Efficiency.

      It shares ideas that are worth taking a look at. This one, in particular, was thought-provoking:

      Staffing plays into the heart of your workforce. Management needs to be aware when the average time spent in the queue goes up at certain times every day. When the time goes from 35 seconds to over 4 minutes for multiple days at a certain time, there may need to be several more staff available ...

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    16. The Value of Doing Your Accounting Perfectly Even at the Startup Stage

      The Value of Doing Your Accounting Perfectly Even at the Startup Stage

      Mr Adrian Blair of Receipt Bank is a man who knows what he's talking about. He's been the global COO of JustEat and holds a leadership position within Google, and other impressive companies.

      So when he says something, we tend to listen. This particular point in Elite Business Magazine is one of those insightful perspectives that we just couldn't resist:

      If you get the right data in, you’ll get the right data out. If paperwork is disorganised or missing, there’s every chance you’re missing a clear view of your finances and may face a ...

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    17. Single Touch Payroll Exemptions are Extended

      Single Touch Payroll Exemptions are Extended

      Here's an important update from Accountants Daily. It's about Single Touch Payroll.

      Here's a short excerpt:

      While Single Touch Payroll has now been rolled out for businesses of all sizes, the ATO has advised that the exemption for employers with a withholding payer number (WPN) reporting using STP has been extended to the 2020–21 financial year.

      Take a look at the rest of the article to learn more...

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    18. Ways You Can Save Money for Your Business

      Ways You Can Save Money for Your Business

      This really fascinating article from American Express really connected with us. It's called 27 Money-Saving Tips From Successful Small Businesses.

      It has some real gems. This one's a particularly interesting nugget of wisdom:

      Telecommuting isn't possible for all businesses, or for all employees within a business, but when it is, it can be a huge money-saver. Pascale's business was founded as an all-virtual agency from its beginning six years ago. Keeping things virtual allows small businesses such as Pascale's to avoid the expense of office space and the ongoing operating costs that come with it ...

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      Mentions: Money
    19. What Your Practice Must Consider in Planning for 2020

      What Your Practice Must Consider in Planning for 2020

      We couldn't just let this fascinating piece pass us by without sharing it with you first. It's called How to plan for practice success in 2020 and it's got some really important points that it wants to get across.

      Here is a thought-provoking one:

      Do you know which of your clients are driving the most profit to your practice?

      Chances are there are a few high performers, but there’ll be at least as many dragging you down.

      So start building a personal naughty list populated with the names of clients that are hindering your success, either ...

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    20. Tax Season Has Come Again. Here's What You Need to Know to Get the Ball Rolling

      Tax Season Has Come Again. Here's What You Need to Know to Get the Ball Rolling

      Tax season has come upon us again and this eye-opening article from Smart Company is just the type of article that becomes a must-read at this time of the year. It's called Six things to do now to make tax time 2020 a little less taxing.

      It shares some really thought-provoking points. This one is perhaps the most interesting of them:

      Greig also advises business owners to remember that if they’ve made a donation to a bushfire cause in recent weeks, it won’t be tax-deductible unless the entity is a registered charitable organisation.

      Social media and crowdfunding ...

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    21. Freelance Workers Can Help You Scale Your Business

      Freelance Workers Can Help You Scale Your Business

      In this fascinating piece from Smallbiz-Resources, we learn a thing or two about the benefits of hiring freelancers. It's called 5 Benefits of Using Freelancers to Grow Your Business.

      Here's one benefit that we just can't help but echo:

      The costs of hiring a new employee can be prohibitive in some cases. From recruiting to interviewing to onboarding, you have a lot of expenses before the person ever lays foot in your office.

      Once he or she is on staff, you are then faced with expenses such as: salary, benefits, equipment, office space, and much more.

      When ...

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    22. Most Commonly Committed Accounting Mistakes

      Most Commonly Committed Accounting Mistakes

      Did you happen to catch wind of this new write-up at the business consultancy website BPlans? It's called The 8 Most Common Small Business Accounting Mistakes and we thought that it would make for a great early year reading for business owners?

      They share some really interesting mistakes here. This one's particularly thought-provoking:

      Do you handle all of your bookkeeping and accounting in-house? When you run an extremely small business with limited revenue, it can be tempting to lower costs by handling your accounting on your own.

      While taking care of your accounting yourself might seem like a ...

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      Mentions: Home
    23. FinTech Isn't Affecting the Accounting Industry Yet But That's No Reason Not to Try to Adapt to the Changing Landscape

      FinTech Isn't Affecting the Accounting Industry Yet But That's No Reason Not to Try to Adapt to the Changing Landscape

      Stumbled upon this fascinating article from Adviser Voice Australia and we thought that it would be helpful. It's called The silent disruption of the accounting industry

      It shares some really interesting perspectives. Here's one that really provoked some deep thought:

      Financial Technology (FinTech) in Australia is booming. The average business growth in 2017-2018 was 125% and it is forecast the industry will add $1Billion of value to the Australian Economy in 2020. FinTech dropped to second place in 2018 on Start-up Musters most common start up industry in Australia, only behind Artificial Intelligence. FinTech is still being designed ...

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    24. Nobody's Going Out to Shop Anymore. What's a Brick and Mortar Retailer To Do?

      Nobody's Going Out to Shop Anymore. What's a Brick and Mortar Retailer To Do?

      The online marketplace is in full swing and retail stores are failing because of it. What are stores to do? 

      Jenny Cermak, Guenièvre Lasalarié, Abe Levavi, and Joseph Tesvic Open share their views in this fascinating piece on McKinsey & Company. It's called Retail ghost town and they make some interesting perspectives such as this one:

      Over the next 5 years, we expect the need for selling space to decline by more than 10 percent in the mid-case for some categories. Of course, these estimates are sensitive to assumptions, meaning retailers need an eagle eye on how online penetration ...

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    1-24 of 33 1 2 »
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