accountants
For many business owners, one of the drivers for being in business is the financial return. It is the reward for the risk you take and the effort you put in. There are plenty of other reasons that people go into business but for most, financial return is in the top 3 reasons.
If you listen to the news reports Australia survived the economic crisis relatively unscathed.
The Reserve Bank of Australia has removed almost all of the mystery about what is going to happen with interest rates. Rates have bottomed out and are likely to start going up. Announcements from the RBA Board state that the “stronger-than-expected economic data and the general improvement in sentiment both in Australia and abroad have reduced the likelihood that a further reduction will be required.”
Dear Saige Adviser, The costs of running my business have gone up (despite what they keep telling me on the news) but I have held off increasing my prices. It just doesn't seem right when the economy is in a slump to pump up prices. I don't want any existing sales to dry up. What's the best approach to keep customers on my side during the economic downtimes? Should I be doing more and adding a bit of a discount to keep people happy? Yours, Fiscally Anxious
Like never before, business is being encouraged to actively manage their cash flow. The global financial crisis has put cash management under the spotlight as companies, large and small, fail. In the SME sector, cash flow issues are the most common cause of failure. Businesses simply run out of cash and collapse or are forced into liquidation by creditors unwilling to take on any further risk.
Everyone is worrying about cash at the moment. Cashflow is already tight but June is the quarter where the largest amount of cash transfers from the private sector to the public sector via the ATO.