Avoid These Mistakes with Your Budget Forecasts

The start of a new year is a prime opportunity to review old budget habits which could be holding back your business.
Let’s explore some of the most common mistakes small business owners can make when mapping and managing their budget, so you can leave these practices behind as this financial year comes to a close.

Crunching the Numbers: Small Business Financial Checkup

As a small business owner, January offers a unique opportunity to assess your financial health. With half of the tax year behind us, it’s time to take stock of your business finances and set a course for sustainable growth.

The 2024 Outlook for Australian Real Estate

The Australian real estate market continues to rise overall. This trend persists despite interest rate hikes, the fixed rate mortgage cliff, repeated predictions of a downwards market correction, and some isolated and short-term pockets of decline.

Getting your finances in order for the New Year

As we reflect on another eventful year, it’s time to prepare to step into 2024. With the lessons and experiences from another year under your belt, you’re well-positioned to craft a proactive plan for the next 12 months.

RBA December Decision: Holding Steady at 4.35%

The Reserve Bank of Australia (RBA) announced the retention of the cash rate at 4.35% following its December meeting. This decision aligned with expectations, considering the mixed data on economic activity and positive trends in inflation, which is on a downward trajectory. The RBA acknowledged that the full impact of previous rate hikes is yet to be fully realised, leading to a straightforward decision to maintain the current cash rate.

The Art of Year-End Client Appreciation: Building Stronger Relationships

Amid the bustling preparations for seasonal celebrations and the end-of-year hiatus (or upsurge in activity in some sectors), the importance of appreciating your steadfast customers can sometimes be overlooked.
Client appreciation should be a core strategy for small business owners, and December is an ideal time to show your gratitude and foster customer loyalty.

Festive Fraud: Recognising the Signs and Preventing Losses

Although the end-of-year holiday period is meant to be a time for goodwill and generosity, it also offers opportunities for fraudsters. Last year, scammers were the most active in October and November, with Scamwatch receiving about 50,000 reports of scams in these two months.

Continue reading to find out how to prevent your business falling victim to a scam or fraud this festive season.

The Evolving Face of Savings and Investments

The Australian economy has performed better than expected this year, largely due to fiscal policy support and high population growth. A key factor has been the accumulation of household savings during the pandemic, as lockdowns and income constraints led to what some economists call ‘excess saving’. Unlike other developed economies where saving ratios have returned to pre-pandemic levels, Australia and the US have seen ratios drop below those levels, indicating households may be using these savings to support consumption, especially in the face of declining real disposable incomes.

The Future Currency Shift: Is Your Business Ready?

In 2009, the very first Bitcoin transaction was used to order two Papa John’s pizzas, marking the humble beginnings of what would eventually change the meaning of currency as we know it. Since then, the world of cryptocurrencies has exploded, with the number of cryptocurrency users expected to reach a staggering 994.30 million by 2027.


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