As a small business owner, admin, accounting and bookkeeping can be expensive, overwhelming, daunting and time consuming. Businesses in Australia are estimated to spend $31.1. billion and 4.9% of their time on admin and accounting tasks (source). It doesn’t have to be that way though. Cloud accounting software like MYOB, Xero and Quickbooks have a range of automations that mean you will spend less time doing and more time enjoying.

For any person to do business successfully in Australia, one of the most important things is to set up the business under the correct business structure.

Distinct Business Solutions has put together an easy to use guide, complete with an explanation of each business structure as well as the pros and cons associated with each.

Business planning may be a boring topic for some, but for me planning isn’t just interesting, it’s an essential element of any successful business. A business plan doesn’t have to be a formal 100 page document, it can be a spreadsheet, a series of post its or scribbles in a notebook. Below I have outlined some of the top reasons why business planning is important.

Goal setting is essential to success in both business and in life. By setting goals they are more likely to come to fruition. Writing your goals down shows you are serious about achieving them and creates space in your head for the implementation of your goals. Setting goals can be great for your motivation, focus and to help you clarify what is important to you and your business.

Read on for our ultimate guide to goal setting for your small business.

Choosing the right accountant for you, it’s not as straightforward as it may seem. It’s not just about finding someone who can find your tax savings. Don’t get us wrong, compliance (or keeping the ATO happy) is important but there is far more to accounting than just compliance. You need to have a think about what is important to you.

Do you have a great business idea but I don’t know how to get started?

Distinct Business Solutions have put together ten things you need to know before starting a business.

A company business structure is a popular business structure for Australian businesses. As an accountant and business coach we find ourselves recommending a change to a company business structure regularly. That doesn’t mean it is for everyone. We have created a 5 step process to help you decide and execute a new business structure for your business.

Cash flow can be a make or break for small business. For every day you go unpaid you are costing your business money, money that could be used to pay rent, suppliers or your team, it’s money that could be earning you interest in your bank account. Cash flow is a huge stress for small business owners, leading to sleepless nights, irritability and fear for the future. The good news is there are some simple things you can do today to help you get paid faster.

Starting a business from scratch is a big move. It means putting it all on the line, your savings, your career and your pride. For me the drive to start my own business was sudden, I needed a change and I needed it now. But let’s start this story at the beginning.