On Friday, June 2nd, the Fair Work Commission released its annual wage review decision. The Commission has chosen to raise the minimum wages in all modern awards by 5.75%. These increases will go into effect from the first full pay period starting on or after July 1, 2023. Additionally, the National Minimum Wage has been […]
Getting business strategy at the heart of your success in 2018
During 2017, I presented to 150 accountants at our first Transform! Conference (held in Wellington) and many hundreds more at Transform! Breakfasts in cities across the world, including London, San Francisco, and Sydney. These events challenged, energised and engaged accountants and advisors to focus more on proactive, game-changing service provision for their clients to achieve […]
4 ways to ensure your business survives
1. Maintain a healthy work-life balance In our survey, nearly six in ten respondents (58%) cite spending time with family in the evenings as crucial to their effectiveness as a business owner, and more than half (55%) say it’s important to keep their weekends free for loved ones. How can Xero help? One of the […]
7 step checklist for your business this new financial year
1. Assess your finances Sit down with your accountant or bookkeeper and review your business finances. Look at whether you met your targets last financial year and what you can do differently this year to help your business grow. 2. Check your registrations and licences Your business operations may have changed throughout the year, so […]
How to take your business to the next level
We’ve zeroed in on the world’s top-performing companies to see how they’ve achieved their growth goals, and how you can apply the same strategies to your own business. Refine your sales strategy: McDonald’s From the late 1990s and early 2000s, McDonald’s restaurants in the US faced many challenges to its business model among different consumer […]
The Importance of Accurate Costing
Without meticulous attention to cost information, a business would put itself in a very volatile position. It is imperative for a business to track costs carefully, so profit can be calculated against it in each period. This lets a business know how they are doing. In addition, accurate cost data allows a business to sculpt […]
The Five Elements of a Lean Business
The transition can cause instability and the decisions made can impact the way a business operates, for better or worse. So, there is greater demand for your business, but how do you solve it? Do you decide to invest a substantial amount of money into new equipment? Do you hire new people for the job, […]
How to reduce staff no-shows
As a business owner, you’d be straight on the phone, trying to find a replacement for Dave. Having to bring someone in at short notice will probably cost you a bit more. It could even take you an hour or so to sort out, when you could be spending your time in better ways (like […]
Preventing Mishaps During the Busy Season
As the mercury rises, don’t get caught unprepared for the onslaught of demand. Here are some tips for avoiding mistakes during the summer season using online inventory management. Analyse past trends to make more accurate predictions When it comes to preparing for higher demand, tracking past trends will help make predictions of how much stock […]
Cloud-based software – the way to go!
Communication Cloud software allows for fast and effective communication. This is this case for data and in-program communication, but also for communication of the ‘old days’, for example, where you need to get in touch with your sales manager to let them know what to order. With everything online, there is no need to copy […]