Inflation has ballooned worldwide in recent months, and there’s no question that small businesses are feeling the pinch. Supplies cost more, employees are hard to find, and your profits are shrinking. It’s undoubtedly challenging, but you can weather the storm with the following tips. 1. Study your data Your numbers are always helpful, but in times of rapid inflation, you’ll be especially thankful that you keep a nice, clean set… Read more
Unfortunately, fraudsters are out there. They want your money, your identity, or both, and they’re getting more sophisticated all the time. There’s a wealth of opportunity for swindlers to take advantage of people because so much of what we do is now online. There are ways for you to protect yourself, both by taking action and being aware of what’s going on. Here are 8 ways to protect yourself from… Read more
While it may seem like your working years last forever, retirement still has a way of sneaking up on you. As the years go by, what once seemed like a far off dream can suddenly feel incredibly close. Planning for your retirement might seem like something you can put off until tomorrow–or next year–but the earlier you do it the more time you’ll have to make sure your finances are… Read more
You can’t get through the news these days without hearing about inflation and how rapidly it’s increasing. Rates were generally low for quite some time and we all got used to it. Suddenly, however, everyone is getting squeezed by inflationary pressure. But what exactly is inflation, and how does it affect the money you have in the bank? Read on to learn more about what it is and what it… Read more
The start of the year is typically a reflective time. Something about that New Year’s beginning sets the stage for introspection and review. While you’re busy reflecting on the year that’s ended and the new one starting, make sure you take some time to consider your finances. Here are some financial tasks that should be on your must-do list. Read on for some items that really can’t wait. 1. Take… Read more
When you think of payroll, you might still envision paperwork and envelopes given to employees by hand. Even with direct deposit being the norm for years, there is still a significant paper component to manage. As with most things, payroll is going digital – and for good reason. There are many benefits to digital payroll for employers and staff alike. Read on to learn why switching to paperless payroll could… Read more
New Year’s resolutions are often top of mind this time of year; some will stick – but many won’t. Try not to beat yourself up about it. There’s always next year, after all. However, your personal budget is one area where you should keep your resolutions from slipping. While it’s true that there’s also next year when it comes to your financial goals, putting it off has real consequences that… Read more
A fractional CFO, or Chief Financial Officer, is a finance professional who works on a part-time, retainer, or contract basis. They bring the experience and expertise of a high-level CFO to your business – without the cost of hiring a full-time, in-house employee. Fractional CFOs service several clients at once typically on a part-time, retainer, or contract basis. Their specialty is providing outsourced CFO services to small and medium businesses.… Read more
Starting a new business is exciting, but it also comes with its fair share of responsibilities. One of the most critical responsibilities is maintaining accurate records of your business transactions. From saving receipts to processing employee payroll, every money-related detail should be documented. It’s not just about keeping things tidy; it’s about understanding the financial health of your business and meeting all your tax obligations. Don’t underestimate the basics Some… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. NSW builder goes into voluntary administration due to rising costs and pandemic effects Elderton Homes, a major New South Wales builder, has plunged into administration after catastrophic weather events, the pandemic, and rising materials costs made business too costly to continue. ABS data shows that payroll jobs are up,… Read more
From the whole team at Zenith Finance we’d like to wish you a safe, merry and relaxing Christmas and New Year to follow. Thank you for choosing to work with us throughout the year and we look forward to catching up again in the New Year. Our seasonal trading hours We are closed from Friday 23 December 2022 and reopen on Wednesday 4 January 2023. Read more
Employees in Australia will soon have access to paid family and domestic violence leave. Business owners and employers should be aware of these changes as the paid family and domestic violence leave means you will have to pay up to 10 days of leave per 12-month period for employees who require the leave. Starting in 2023, employees will have access to 10 days of paid family and domestic violence leave… Read more
The holidays are officially upon us, and chances are you’re starting to feel a bit spendy. It’s only natural. We want to spread that feeling of good cheer around by buying presents for those we love. There’s nothing wrong with that, but keep your pocketbook in mind. Nothing kills the joy of the season like a giant credit card bill come January. Keep your spending in check by following these… Read more
The holiday season is typically busy, whether you run a retail business or a service-based one. If you’re not helping shoppers, you’re helping your clients fit in their appointments before year end. There’s a lot to do and the time passes quickly. Take this opportunity to show clients and customers how much you appreciate their business. After all, it’s less expensive to retain existing clients than it is to attract… Read more
The end of the year tends to be a bit chaotic for business owners, but it’s actually a good time to get some extra housekeeping done for your business. Read on for some tips to help you finish the year neatly and feel prepared to face the new year. Review your goals and KPIs A lot has likely happened for your business over the course of the previous 12 months.… Read more
When starting a small business, business owners often think about things like the storefront, branding, and displays. They think of smiling employees and happy customers. It’s not usually the image of the shelves and cupboards in the back stockroom that fill their heads. But inventory is a critical component of your business. Sales are made and lost because of inventory control so it can’t be overlooked or left to sort… Read more
In a world with endless distractions, it’s no wonder that we find it difficult to complete tasks. Focus is hard to come by these days. This is especially true when you’re working from home. Household tasks that would otherwise be out of sight and out of mind are suddenly in your workspace. With that said, there are some proven methods to help you get things done. Time blocking and Time… Read more
Upgrading or changing your payroll system comes with a ton of wonderful benefits. Saving time and money, making everyone’s lives easier, and better integration are all good reasons to consider a change. But if the switch is mishandled, the results can be catastrophic and lead to long-lasting problems. Read on for some tips on how to avoid a disastrous payroll system migration. 1. Give the project the time it needs… Read more
Early retirement may sound like a big dream, but it is achievable if you’re willing to do some planning and stick to your strategy. Here are four steps you can take to put yourself in a position to retire early. 1. Figure out how much money you’ll need after you retire This involves figuring out what age you want to retire at–if you want to retire at 55 you’ll need… Read more
Most people need some help when it comes to financial planning and investing. That’s when we turn to financial advisors. With many options available, it’s important to ensure you choose a financial advisor that you can trust and feel comfortable with. So what are some signs that a financial advisor is a good fit for you? Here are some things to look for when deciding who is best for you… Read more