Tax tips for new building & construction business owners

Do you want to avoid paying more than you should come tax time? Or a frantic last minute search for missing financial records? New building & construction business owners have a lot on their plate and can easily lose track of an approaching tax deadline or financial data needed to submit their return. Organisation is key when preparing for tax time. As is taking advantage of the many tools and resources…  Read more

If my business is making a profit, where is the cash?

Some small business owners find themselves in the difficult position of running a business that appears to be profitable, but still having no money in the bank. It’s an important situation to address. After all, a lack of adequate cash flow is one of the main causes of small business failure. Here are three reasons profitable businesses have little money in the bank, and what business owners can do to…  Read more

Efficient business systems in the building & construction industry really pay off

Too many building & construction businesses fall over due to a lack of efficient systems designed to streamline the day-to-day operations. This typically happens because the business owner is so caught up in the daily workload of running a business that the fundamentals of good business management get forgotten. Often too it must be said that the owner simply doesn’t like bookkeeping or other administrative tasks, so these get put…  Read more

Improving cash flow in the building & construction industry: How to get paid faster

Maintaining positive cash flow can be challenging for the business & construction industry, whether you’re just starting out or have been running your company for years. The difficulty often comes down to waiting for clients to pay their invoices. One or two chronic late payers cost valuable time and money when you have to chase them down; if reliable clients also fall behind one month, the result can be devastating.…  Read more

How to create good habits in a building and construction business

If you are like most building and construction business owners, there are never enough hours in the day to complete every task on your list. Often you are faced with prioritising what you need to do right now – deal with a client, meet a deadline, visit a site – versus the things you know you should do for the ongoing growth of your business. Scheduling time to attend to…  Read more

Reasons to consider engaging a financial planner

For business owners who seek financial security now and freedom in retirement, having a financial planner on the team is key. A financial planner will create a customised, strategic action plan to help you achieve your personal financial goals. Getting to know you and your business inside out is the first step a financial planner will take to understand where you are now, where you want to go, and then determine…  Read more

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