2 February 2024
The secret to Rigsafe’s success as expansion looms in 2024
Striving to do better, achieve better and aim high Tanya Fitzgerald, Business Manager at Rigsafe Lifting Solutions, is rightly proud of the company culture she and her husband, Kevin Fitzgerald, have built over the past eight years at Rigsafe. “Our Rigsafe Way values and what we call ‘living above the line’ behaviours are something we are both proud of.” “Most of the staff have never experienced this level of guidance before, and their six-monthly performance meetings are something they have really backed.” “We catch up with every employee to talk through their future goals and how we can support them...
19 December 2023
Businesses Supporting Local Communities: 5 Ways You Can Help
Businesses play a significant role in supporting local communities – and as the new year is in full swing, now is the perfect time to explore ways you can help yours. Engaging with your local community has many positives, including helping others, forging lasting connections, enhancing employee engagement, boosting important initiatives as well as your reputation as a community-focused business. Let’s explore five ways your business can create a positive impact on your local community through community engagement and other ideas while fostering a sense of support and solidarity. Business Community Engagement Ideas 1. Sponsorship & Donations One of the most...
11 December 2023
ATO Debt Challenges for Small Businesses
As the festive season approaches, the Australian Taxation Office (ATO) is raising the heat on small business debt. With the Christmas and New Year period notorious for cashflow strains across various industries, it’s crucial for businesses to ensure they’re not caught off guard. Why the ATO is Cracking Down? The ATO has set its sights on businesses that may be sidestepping their tax obligations, including unpaid taxes and super liabilities. A significant surge in unpaid GST debt and tax arrears has contributed to the doubling of collectable tax debt since 2017 to $50 billion, with over two-thirds of this debt...
23 November 2023
Current Assets & Liabilities – And What This Means for Your Working Capital Liquidity
When it comes to finance and business management, having a good grasp of working capital is vital. Essentially, working capital represents a business’s liquidity and short-term financial health. It comprises two crucial components – current assets and current liabilities. In this article, we aim to provide a comprehensive understanding of current assets and liabilities, their significance in determining your working capital liquidity, and what this means for your business. What are Current Assets? Current assets are assets a business expects to be converted into cash or used up within one year or its operating cycle, whichever is longer. Some common...
18 October 2023
What You Need to Know About the Surge in Bond Yields
The recent surge in bond yields has sent ripples through financial markets, signifying a pivotal shift after four decades of low-interest rates. This development has drawn attention to the implications it holds for businesses. Let’s break down the basics of bond yields, why they matter, and how they can impact your business. Understanding bond yields A bond yield is the return an investor can expect to earn from a bond, expressed as a percentage of the bond’s face value. It’s a key indicator of the profitability of bonds, and changes in yields can have significant implications for financial markets. The...
16 October 2023
Navigating Supply Chain Risks Post-Pandemic
As the business landscape emerges from the throes of the pandemic, the fragility of supply chains remains. In today’s interconnected world, supply chains stretch across borders, encompassing suppliers, manufacturers, logistics providers, and customers worldwide. While this complexity offers numerous advantages, it also exposes organisations to a myriad of risks – from natural disasters and geopolitical tensions, to economic fluctuations and unexpected disruptions. It’s a timely reminder for Australian businesses to continually assess the potential risks of supply chain disruptions. In general, when compared to overseas counterparts, Australian supply chains are not only underprepared but underfunded. This leaves these critical networks...
26 September 2023
Top Tips to Better Password Security in 2023
Gone are the days of having just one password. We all have multiple codes and passwords – for our computers and laptops, mobile phones and tablets and the myriad of apps that we can’t seem to live without. Following on from our cybersecurity article, here are a few common password pitfalls, along with some basic tips on how to make your passwords and devices more secure at home and in business. Why does good password security matter? Many of us receive password update reminders from our workplace, IT support, internet service providers, popular shopping sites (eBay, Amazon), streaming services (Netflix,...
26 September 2023
Debt Financing Vs. Equity Financing: Understanding the Key Differences
One of the pivotal decisions faced by businesses is choosing the right method for capital acquisition—namely, debt financing vs. equity financing.
26 September 2023
Maximising Wealth Transfer With Estate & Succession Planning
Effective estate and succession planning is an important tool in navigating the intricate dynamics within families. Families can be complex units, with the needs/possible claims from spouses, ex-spouses, de facto, children and stepchildren all part of the planning. Appropriate estate and succession planning ensures that the accumulated family wealth is channelled into the hands of the intended beneficiaries in accordance with the wishes of the deceased. In this guide, we’ll delve into the key facets of estate and succession planning, shedding light on essential considerations for safeguarding your family’s financial legacy. Estate versus Non-Estate Assets The first step in appropriate...