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October 5, 2016

Inventory Basics for Melbourne Small Businesses

Small businesses abound in Melbourne. The city, after all, is not lacking in people with diverse needs and interests. It boasts of steady economy and one that clearly reflects Australia’s vision. For first-time business owners, particularly those engaged in retail businesses, one of the most significant tasks is doing and managing inventory. People who are new to it, though, often ignore crucial steps necessary to make this job fast and efficient. Ask yourself why you are doing it Of course you need to know which items are still on hand and which ones are not, but inventory offers more benefits than that. It helps you determine which items you should not be without and which ones just take precious shelf […]

September 19, 2016

Bookkeeping Practices That Will Save You a Lot of Trouble

Melbourne provides a great business setting for entrepreneurs. The economy is strong, thanks to its huge and diverse population and its friendly affiliations with local and international communities. If you are thinking of setting up a business in this city or perhaps you already have one off the ground, then you understand the need for efficient bookkeeping. Bookkeeping may be a mundane task in business management but its importance cannot be undermined. Simply put, good bookkeeping practices enable steady cash flow and good relationships with your employees, customers, vendors and the ATO or Australian Taxation Office. The best way to make sure your financial records and transactions are organized and your system efficient is to hire a skilled accountant or […]

August 31, 2016

Business Valuation in Melbourne

Business valuation is important whether you are thinking of selling your business or trying to woo investors. It’s also helpful when you want to improve your business. You can point out aspects that lower the worth of your business. If valuation shows that your business is doing well, you can rest assured knowing how profitable it is and be prepared for opportunities. In Melbourne, where business environment is highly dynamic, many companies experience rapid changes and require knowing how much the business is worth to proceed to the next step. Business valuation procedure The process in business valuation is composed of both objective and subjective measurements as not every asset has a set amount, for instance, customer base and brand […]

June 3, 2016

3 Things You Aren’t Doing Right When Raising Business Funds

Melbourne start-ups face many challenges but perhaps nothing else in this list is more daunting to most founders than raising money. But what can you do, you need funds when you’re starting a business and possibly more when looking to expand. Most of the time, using personal savings isn’t an option and you’d rather ask from lenders or investors than from family and friends. Money, after all, can be a sensitive issue and you want to avoid that in your circle. In raising business funding, making sacrifices isn’t unusual – and so is making mistakes. However, if you are not open to fine-tuning your strategy, you will just find yourself back in rejection zone. Below are five of the most […]