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EMB Business Solutions

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25.01.2022 Managing cash flow is a vital part of running a successful business. Some business owners think managing cash flow simply means keeping track of how much money enters and leaves their business, but theres actually more that goes into it. Cash flow forecasting, for example, is an incredibly valuable tool that helps you anticipate cash flow issues, plan for days when your cash flow is limited, and show the bank that you are prepared. [ 442 more words ] https://emb.net.au/how-cash-flow-forecasts-can-help-you/

25.01.2022 The COVID-19 pandemic has proven challenging for many small business owners. Its difficult to run your business remotely, especially if youre not set up to do so. If you run a business that requires customers or clients to come to you, you might be very concerned about how you can continue to operate without opening your premises. If you have access to technology, are adaptable, and are willing to look into financial assistance, you can make it through this pandemic. [ 546 more words ] https://emb.net.au/ways-to-run-your-business-if-you-cant-o/

25.01.2022 Looking for simple ways to cut costs? These tips will help you make a noticeable difference to your bottom line. 1. Reduce staff costs Without a doubt, having someone to help deal with routine tasks can greatly improve productivity. The rub is that hired help is often too expensive for small business owners. Internships can be a real win-win: a student gets hands-on experience assisting you with marketing, accounting or administrative work and you get time-saving help for free.... https://emb.net.au/5-ways-to-save-money-for-your-business-2/

24.01.2022 Entrepreneurs want to have their hands on every aspect of their start-up. This is understandable, as many entrepreneurs come into their respective industries from a place of passion. Their passion will drive them to spend long nights at the office, working hard every hour of every day. Unknown to them, this kind of attitude can actually lead to some destructive outcomes.... https://www.emb.net.au/surprisingly-destructive-habits-you/

23.01.2022 When you own a small business, its vital you understand how money flows into and out of it. At a basic level, you need to know where your income comes from and what your expenses are. At a deeper level, knowing how money moves through your business can help you make strategic decisions about growth, invoicing, and debt management. The consequences of not understanding money can be drasticpoor financial management is one of the main reasons businesses fail. [ 549 more words ] https://emb.net.au/the-number-1-thing-you-need-to-know-abo/

22.01.2022 Five Ways to Bring in More Cash for Your Business https://www.emb.net.au/five-ways-to-bring-in-more-cash-for/

21.01.2022 Networking can be a key way to keep your business growing. Regardless of your industry or business size, it is hard to ignore the benefits of forming professional networks for potential partnerships, expanding your client base, and scaling up. However, while we are all constantly reminded about the importance of networking, reaching out to grow your network isnt the same now thanks to the COVID-19 pandemic. [ 697 more words ] https://emb.net.au/how-to-grow-your-network-without-networ/

20.01.2022 Since the first internal corporate note was sentprobably reminding employees about casual Fridaycompanies and organizations have relied on written communications to keep employees up-to-date on company policies, procedures and changes happening within. These days, though, more companies are switching to videos to relay information to their staff. In a lot of ways, video is more effective than written communications. It grabs peoples attention, conveys important information quickly and is usually memorable. [ 462 more words ] https://www.emb.net.au/how-to-use-video-for-communications/

20.01.2022 Cloud computing is quickly moving from an obscure concept to an everyday reality for small businesses all over the world. A 2015 survey of small business owners found that 52% had already adopted some form of cloud-based data storage; however, a general lack of awareness regarding the logistics and advantages of cloud computing has made others a bit more resistant. [ 425 more words ] https://emb.net.au/why-keep-your-data-in-the-cloud/

19.01.2022 Weve said it before and well say it again this has been an extremely difficult few months for all of us, but there is no better time to think seriously about your business. In this article, we have compiled a few tips to create value in your business. The key to building value in your business is to plan the process in a systematic way, whether youre aiming to grow your business or groom it to get a better price from a buyer. [ 845 more words ] https://emb.net.au/beyond-covid-19-how-to-build-value-in-y/

18.01.2022 The turn of the year usually prompts most people to think about some business planning for the year ahead. Here are some tips to make the planning more productive. Get your team involved Business planning works best when it’s a team effort. Involve your key staff and your advisors, such as your accountant, your mentor (if you have one), and others who can contribute meaningfully to the planning, such as an IT expert if you envisage a major website overhaul.... https://www.emb.net.au/planning-the-year-ahead-2/

17.01.2022 Remember when email was new and novel, and everyone thought it would vastly improve communication while freeing up time? It did improve communication on some levels and freed up employee time at first. Now, however, email has become a productivity killer. Workers have to wade through hundreds of emails in their inbox each day, and many people choose to deal with email as it comes in rather than all at once. [ 484 more words ] https://www.emb.net.au/email-the-productivity-killer/

15.01.2022 If you have any doubt that word of mouth referrals are important, consider these recent stats: According to Neilson, 92% of shoppers trust recommendations from friends and family more than traditional advertising 20% to 50% of consumer purchases are made because of a word of mouth recommendation 81% of buyers are influenced by their friends social media posts. So how can you encourage positive word of mouth for your small business? [ 449 more words ] https://www.emb.net.au/encouraging-word-of-mouth/

15.01.2022 The loss of a job is one of the most devastating things a person can go through. The results of a job loss can be long lasting and the implications go far beyond the financial. While losing your job will most likely put your financial life at risk, the emotional consequences can be just as damaging. When you consider that most of us spend more time at our jobs than anywhere else, the sudden loss of employment can mean losing our identity as well as our paycheck. [ 736 more words ] https://www.emb.net.au/how-to-survive-the-emotional-and-fi/

15.01.2022 Its no secret that data loss can be a costly nightmare for a small business, with recent estimates citing the total cost of data breaches exceeding $2.1 trillion by 2019. Unfortunately, cyber attackers increasingly target small businesses because they are less likely to have security protection in place. Accidental loss or loss due to a natural disaster can be just as harmful to a business, with recovery efforts and delays grinding productivity to a halt. [ 451 more words ] https://www.emb.net.au/tips-for-keeping-your-business-data/

14.01.2022 7 August 2020 You may have heard the news that Treasurer Josh Frydenberg has announced the government will expand the JobKeeper scheme again. This comes a few weeks after announcements of JobKeeper 2.0 to start at the end of September. Below is a roundup of what has been announced and what we expect to see, but please note that this is not legislated yet and is still subject to change. [ 358 more words ] https://emb.net.au/more-jobkeeper-changes-expected/

14.01.2022 In April the NSW state government announced $10,000 grants as fast relief for NSW businesses that need it most. The new assistance scheme is for businesses struggling to cope with the COVID-19 shutdown, and is based on a similar scheme rolled out during the bushfires. Premier Gladys Berejiklian said the grants will provide a big boost, and we will make the application process easy to ensure small businesses can receive some cash-flow as soon as possible to meet pressing needs. To be eligible for the grant, businesses need to have fewer than 20 employees and meet other requirements detailed [ 128 more words ] https://emb.net.au/10000-grants-for-struggling-nsw-busines/

14.01.2022 Weve heard this before: the COVID-19 pandemic is an unprecedented global health and financial crisis that has caught many off guard. While the threats to human life are very real, the damage to the health of businesses is really just starting to show. The seriousness of the disease and the lack of a vaccine (at the time of writing this) have prompted governments around the world to impose strict measures to contain the virus. [ 599 more words ] https://emb.net.au/battling-through-covid-19-finance-tips-/

13.01.2022 The future of your family business may seem like a problem for tomorrow or sometime next decade, but forward-thinking business owners know they need to plan for the future today. The steps you take now to prepare your company for the next generation will go a long way to determining how successful it remains after you retire. Its tempting to think that things will automatically work out for the bestespecially where family businesses are concernedbut that rarely happens without planning. [ 484 more words ] https://emb.net.au/easy-steps-to-prepare-your-family-busin/

13.01.2022 If youre like most small business owners, there are never enough hours in the day to complete every task on your list. Often youre faced with prioritizing what you need to do right now deal with a customer, meet a deadline, attend an event and the things you know you should do for the ongoing growth of your business. [ 460 more words ] https://www.emb.net.au/how-to-create-good-habits-in-your-b/

13.01.2022 Happy New Year! We hope you had a relaxing holiday break and are raring to go in 2021. Our first weekly digest of the new year includes the latest updates and ideas to help us all move forward. South Australia Keeps NSW Border Shut South Australia has a hard border closure in place with New South Wales with no one from that state allowed to enter unless they are a returning resident, relocating permanently, or an essential traveller.... https://emb.net.au/covid-19-business-update-6-january-2021/

12.01.2022 As we try to catch a breath from all the chaos going on with Coronavirus, we just got word of the Australian Governments latest stimulus package. This package focuses on the job keeper payment, aimed at helping businesses keep their staff, which will be a lifeline for many people over the coming months. Here a quick overview of what it means: [ 371 more words ] https://emb.net.au/job-keeper-payment-makes-up-governments/

12.01.2022 This week's COVID-19 business update includes details on: - Interest rate cuts - Victoria's progress - Tips for taking a retail business online - Digital Business plan and much more.... Read it all on the blog now! https://www.emb.net.au/covid-19-business-update-4-november/

12.01.2022 Business dashboards are a valuable business intelligence tool, offering an at-a-glance big picture view of a companys performance. Some business owners use a dashboard to track KPIs relevant to just one aspect of their business, such as sales growth, marketing, or financial data. Others rely on an executive dashboard for an overview of data culled from various sources (e.g. their accounting software, CRM tools, and website analytics). [ 472 more words ] https://www.emb.net.au/the-advantages-of-using-a-business-/

11.01.2022 Most small businesses experience cash flow problems from time to time and urgently need working capital. Many business owners immediately think of the bank or loans when theyre short of money. But there are other resources you can tap before you ask for that expensive overdraft or overdraft extension. The money you need might already be therelocked up in inventory, assets or your debtors book. [ 1,569 more word ] https://emb.net.au/finding-money-in-your-business/

10.01.2022 Welcome back to our Weekly Digest. We hope you and your family are doing well. Read on for this weeks update. Easing restrictions Last week we mentioned the governments state-by-state roadmaps to relaxing restrictions. Most states have started their roadmap and as a result some businesses are gearing up to reopen. If its still a little while away for your business hang in there, and please dont hesitate to reach out if you want to chat about cashflow. [ 374 more words ] https://emb.net.au/covid-19-business-update-22-may-2020/

10.01.2022 The JobKeeper Payments Amendment Bill was introduced in the House of Representatives on Wednesday 26th August. We appreciate your patience as we process these changes This Bill introduces the extension of the JobKeeper scheme that was announced last month. The proposed rate changes will see the current $1500 per fortnight payment drop to $1200 for full time workers. and $750 for those working less than 20 hours per week from September 28, [ 396 more words ] https://emb.net.au/jobkeeper-extension-bill/

09.01.2022 A Canadian bank recently surveyed over 500 small business owners about what they love and hate most about owning their own business. Unsurprisingly, flexibility and feeling in control ranked first in the love category. Meanwhile, almost 60% said bookkeeping was hands-down their most hated task. Most business owners understand that effective financial management is key to their success. But lack of knowledge, frustration, and even avoidance can add up to accounting mistakes that derail future growth. [ 387 more words ] https://emb.net.au/avoid-these-5-costly-accounting-mistake/

09.01.2022 As small business owners look to operations after COVID-19, there are some important business questions to ask. These questions will help you determine what adaptations you want to keep, whether your business model is working, and if there are additional changes you want to make to keep your company operational through future economic downturns. Its not always fun to do this sort of examination, but the answers to these questions will help you to make the best possible decisions for the future. [ 552 more words ] https://emb.net.au/questions-to-ask-as-your-small-business/

09.01.2022 Its hard to escape the news of the Coronavirus as it continues to have a huge impact on people across the world. Closer to home, the Morrison Government has announced a stimulus package in response to the anticipated economic downturn. This package includes a number of economic stimulus measures, most targeted at helping small to medium-sized businesses. Here to help [ 745 more words ] https://emb.net.au/first-coronavirus-stimulus-package/

09.01.2022 Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this weeks update. COVID-19 Cases in Victoria Fall to Seven-Week Low Victoria, the epicentre of Australias second wave of COVID-19 infections, has reported a significant drop in the number of new cases, reaching a near two-month low. This is good news as the total lockdown in Melbourne is set to end on 13 September. [ 1,304 more word ] https://emb.net.au/covid-19-business-update-2-september-20/

08.01.2022 If youre like many small business owners youre probably astounded by how the world has changed in a very short time. While we can all hope that the pandemic is a once-in-a-lifetime scenario, the truth is there is a lot in life and in business that is uncertain, and there is a great deal we can learn from the response to COVID-19 to help plan for the future. [ 518 more words ] https://emb.net.au/business-lessons-learned-during-covid-19/

08.01.2022 The COVID-19 pandemic is impacting nearly every aspect of our lives and will be remembered as a pivotal time in history. Like any other event that impacts the world, we dont know what the future will be like, but we do know that the other side of this will require resilience and creativity from all of us. In the spirit of resilience, we have put together some useful resources to help you. [ 540 more words ] https://emb.net.au/jobkeeper-covid-19-update/

07.01.2022 The Australian Government has announced a second stimulus package as we continue to fight COVID-19. The $66 billion dollar coronavirus stimulus provides relief for small businesses, casuals and welfare recipients. This combined stimulus of $189 billion dollars will hopefully reduce some of the impact Coronavirus is having on our community. Following the governments first stimulus package less than 2 weeks ago, Treasurer Josh Frydenberg said we now expect the economic shock to be deeper, wider and longer. Below is a summary of the measures announced by the Treasury, but please [ 1,006 more word ] https://emb.net.au/2nd-stimulus-package-announced/

06.01.2022 Most small business owners face a time in their career when they have to communicate in ways or about topics they arent comfortable with. COVID-19 has put small business owners in the position of having many conversations that are uncomfortable and stressful. Whether youre communicating with employees about business issues during the pandemic, hoping to negotiate a rent reduction or changes to credit terms, or asking customers for help in keeping your store open, here are some strategies that will help you be more effective in your communications. [ 559 more words ] https://www.emb.net.au/tips-for-communicating-during-a-pan/

06.01.2022 When customers make a buying decision, they’re not just considering the quality and price of your products or services, they’re also evaluating the ease and convenience of the whole buying process. As a business owner, you should offer different payment options to provide the best customer experience and to ensure you receive timely payments Here are four ways your small business can accept payments in 2020: [ 420 more words ] https://www.emb.net.au/4-payment-options-your-small-busine/

06.01.2022 Managing people is one thing, but anyone with experience of managing managers will know thats a completely different ball game. A management team that works in complete harmony is a rare and beautiful thing, but it never comes easy. In fact, its paradoxical to think it should ever be that a group of people with strong leadership and management skills will operate without conflict for any length of time. [ 1,291 more word ] https://www.emb.net.au/seven-tips-for-managing-managers-2/

05.01.2022 Its very rare these days that people just happen to find your business and become a client or customer with no work on your part. Your business has to grab peoples attention, turn curious visitors into leads and then convert those leads into sales. This means that the more solid leads you have, the greater your chances of making a sale. [ 587 more words ] https://emb.net.au/four-great-ways-to-get-more-leads-for-y/

04.01.2022 Weve teamed up with the company that helps with our website and marketing to bring you a free webinar on how to market and sell remotely. Theyve been 100% remote for seven years but have built a global business and they want to share how they did it with you. Ive attended webinars from them in the past and they are always practical and useful. [ 54 more words ] https://emb.net.au/how-to-market-and-sell-remotely-free-we/

04.01.2022 The ATO has just released Alternative Tests for the JobKeeper payment which expands eligibility from the initial basic test. This is good news for many businesses, particularly startups, those affected by last years droughts and those with variable revenues. Basic Test If you satisfy the eligibility requirements for the basic test, you can ignore the alternative tests below. The basic test [ 715 more words ] https://emb.net.au/jobkeeper-alternative-eligibility-tests/

03.01.2022 Good news! The government recently announced that the Instant Asset Write-off has been extended for six months, taking the initiative to 31 December 2020. Australian businesses with less than $500 million annual turnover will be able to take advantage of the write-off and invest in assets to support their business. This government initiative is designed to help the economy reopen and boost economic growth. [ 191 more words ] https://emb.net.au/instant-asset-write-off-extended/

03.01.2022 When you are a leader, it is obvious to you that the success of your team can increase your own success. People often confuse having a sense of humility with being insecure. But in truth, being a humble person is simply about considering others more and thinking of yourself less. By being humble and thinking of the people you are expected to lead more, you can increase their confidence, security and ultimately, increase their performance level. [ 518 more words ] https://emb.net.au/becoming-a-better-leader-by-developing-/

02.01.2022 Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Queensland Orders Hundreds to Restart Quarantine After a cluster of the new COVID variant was discovered at the Grand Chancellor quarantine hotel, all those in the hotel will have to restart their quarantine period. According to Queensland premier Annastacia Palaszczuk, the remaining 129 guests are going to be moved to other hotels and will be tested.... https://emb.net.au/covid-19-business-update-13-january-2021/

01.01.2022 Most small business people would agree that their Profit and Loss account (now more correctly called a Statement of Financial Performance) is among the easier if not the easiest financial document to understand. Its typically presented in two parts. The top half of the statement reveals the various sources of income the business has received for the period covered, such as a quarter, half year or full financial year. [ 577 more words ] https://www.emb.net.au/insights-from-your-profit-and-loss-/