A quick-reference guide to small business pricing models, and how one health and beauty retailer sets prices. Increased operating costs, higher inflation and unpredictable or unstable revenue are among the top concerns that business owners anticipate will be major challenges over the next 12 months. These rising costs can prompt small business owners to reconsider the pricing model for their products or services. Finding the right pricing model first means identifying your objectives in setting a pricing strategy. For instance, identify if you are looking to establish your […]

The current Instant Asset Write-Off program finishes in just 5 weeks! If you are thinking of purchasing an asset for your business, you should think about doing it before June 30!   What is the Instant Asset Tax Write-Off scheme? Under the instant asset write-off, you can write off the full amount you spend on an asset [used for business purposes] in the financial year you purchased it, giving you a tax deduction for the full cost of the asset immediately. Before the program was […]

A guide to identifying if EOFY tax deductions apply to your small business. With a new financial year on the horizon, now is the time to familiarise yourself with changes to the temporary full expensing scheme, so your business can make the most of possible EOFY tax deductions.   What is the instant asset write-off? As announced in the Federal Budget for the 2023-2024 financial year, the instant asset write-off threshold has been temporarily increased to $20,000 and extended until the end of the 2023-2024 financial […]

Here are six ways to potentially reduce your small business’s tax liabilities and pay less at EOFY.  EOFY is fast approaching, which means it’s critical to get across your business’s finances and start the new financial year with the right foot forward.  That could mean using cash flow management tools to streamline your business, calculating your working capital or learning how to open a business account to simplify financial management. It’s also the time to make sure you’re not paying more tax than you should.  Two tax advisors have shared their […]

Two finance formulas to use when managing small business cash flow – one to calculate working capital and another your cash conversion cycle. As the new year begins, Australian small businesses are making plans to grow. In fact, 85 per cent of business owners anticipate growth over the next 12 months.* The top three anticipated sources of growth are new clients or customers from referrals; more business from existing clients and customers; and new products or services. This focus on their business’s growth – and the […]

Small Business Loan: Agricultural Product Wholesaler Total Loan: $100,000 Monthly Turnover: $150,000 Purpose: Purchase Inventory   Comments: Client hit a roadblock after being turned away for a bank business loan on the basis of not having asset security. This busy agricultural product wholesaler was able to get the deal set with an unsecured business loan – no putting up the farm! The loan was approved and funded within 24 hours with just 6 months of bank statements being provided.     Why Xpress Business Loans? We […]