SME Business Insights

We have developed the 4 stages to consider in preparing your business for any crisis which can form part of your own Business Readiness Plan. Find out about stage 3: Surviving through battle below and keep your eyes peeled as we release stage 4 later this week.

How to Value your Allied Health Practice

14 December 2021

Nadine Marke

Prior to instructing a valuation for allied health practices, the 4 W’s need to be addressed:

How to Value your Allied Health Practice

Time to review your business structure?

13 December 2021

No doubt you’ve heard it before; “make sure your business is well structured."

How to prepare your business for a crisis - Stage 2

10 December 2021

We have developed the 4 stages to consider in preparing your business for any crisis which can form part of your own Business Readiness Plan. Find out about stage 2: When a threat is realised: battening down the hatches below and keep your eyes peeled as we release the rest of the stages.

How to prepare your business for a crisis - Stage 1

7 December 2021

When COVID hit, how prepared was your business? If your first instinct is to reply, “Not very!” – you’re not alone.

Everything company directors need to know about the new Director Identification Number

26 November 2021

Thiru Kandiah

In an effort to prevent false or fraudulent director identities, the Australian Government has announced a new requirement for directors.

Everything company directors need to know about the new Director Identification Number

Why government agencies must plan ahead to protect funding

23 November 2021

Stephanie McAuliffe

The events of the past 18 months have certainly proven how important it is for businesses in the private sector to plan ahead.

Why government agencies must plan ahead to protect funding

Boost your mining company’s IT department with automation

19 November 2021

Gavin O'Hara

Particularly for junior explorers and services to mining companies, cutting unnecessary expenditure is key to sustainable operations and a healthy bottom line.

Boost your mining company’s IT department with automation

Local Council laws prepare for major shakeup amid new proposed changes – what you need to know

18 November 2021

Travis Bate

Changes to WA’s Local Government Act have arrived 18 months after the Local Government Review Panel's findings and recommendations were tabled in state parliament. The report proposed significant reforms to the Act which has been in place since the mid-1990s.

Local Council laws prepare for major shakeup amid new proposed changes – what you need to know

Employee Share Schemes: How to incentivise and remunerate employees without dipping into your pocket

20 October 2021

Have you ever thought about using Employee Share Schemes to incentivise and remunerate your employees?

ESS: How to incentivise and remunerate employees

Mandatory Director ID Numbers

19 October 2021

Dace Harris

What is a Director ID? A Director identification number (Director ID) is a unique identifier you need to apply for once and will keep forever. It will help prevent the use of false or fraudulent director identities.

The startling tax ruling impacting GP and allied health practices

19 October 2021

Peter Nicol

Following a shocking determination by the Chief Commissioner of State Revenue in NSW, owners of general and allied health practices have been left wondering what it means for them.

The startling tax ruling impacting GP and allied health practices

Super Choice Rule Changes 1 November

19 October 2021

From 1 November 2021, all new employees hired on or after this date that has not provided their own fund detail when commencing employment or has not selected the employer default superfund option within the super choice form will now require the employer to search the ATO for the employee stapled superannuation fund.

Assets and Family Law During Separation

1 October 2021

Simon Robinson

When it comes to separating, no two cases are the same. Some clients will have assets that they are looking to grow or protect, while others may be under financial hardship and considering engaging an insolvency specialist.

Better data in pharmacy

24 September 2021

The information and the needs are there. What’s your next step? The Healthcare industry collects data and lots of it. Pharmacy is no exception and owners should look inside their business for new ways of reaching out to their customers.

Mundane compliance work, or key to a successful business?

17 September 2021

Reagan Manns

What is the key to a successful business?

Mundane compliance work, or key to a successful business?

How property developers can streamline their operations

2 September 2021

Adam Crowley, Brynt Moggach, Laurel Grey

Have you ever found yourself thinking, “There must be a more efficient way to do this!”. Or, “Why aren’t my systems smart enough to manage all of this for me?”

What you need to know about ACT COVID-19 Business Support Grants

31 August 2021

Andrew Sykes, Young Han

UPDATE 31 August, 12 noon: The Australian and ACT Governments have expanded the COVID-19 Business Support Grants with the extension of the ACT lockdown to 17 September.

What you need to know about ACT COVID-19 Business Support Grants

Impact of lockdowns on NDIS, Aged Care and Community Service Providers

31 August 2021

Jaime Lam, Kirsty McGovern-Hooley

At RSM we understand the difficulties that NDIS and Aged Care and Community Service Providers are facing with the recent round of lockdown measures in Australia.

Impact of lockdowns on NDIS, Aged Care and Community Service Providers

Webinar: R&D Tax Incentives and Capital Access

27 August 2021

Jessica Olivier

R&D financing is increasingly gaining popularity in Australia, with many innovative businesses discovering that R&D finance can be a practical and efficient strategy to accelerate innovation programs and maximise ROI.

New grants available to QLD businesses impacted by lockdown

23 August 2021

Nick Farr, Tracy Herlihy

The Queensland Government has announced a new $10,000 - $30,000 grant to assist businesses impacted by the latest lockdown commencing 31 July 2021 with funding business expenses.

New grants available to QLD businesses impacted by lockdown

What do I need to do NOW to get ACT COVID-19 support payments?

19 August 2021

Andrew Sykes, Rhys Kyburz, Young Han

On 17 August 2021, COVID-19 Business support Grants was extended up to $10,000 (from $3000) for employing businesses and $4,000 (from $1,000) for non-employing businesses over the 3 week lockdown period where those businesses’ turnover has declined by 30 percent or more as a result of the COVID-19 health restrictions.

2021 Update: NSW COVID-19 support for landlords and tenants

18 August 2021

Sean Mulligan

Commercial landlords in NSW are now required by law to provide rental relief to tenants with an annual turnover of up to $50 million following a legislative overhaul pushed through by the state government late last week.

Understanding your payroll function

17 August 2021

Nicole Mohan

There has been a long list of high-profile Australian companies with underpayments to employees in the news recently.

Obtaining an accurate business valuation quotation – a handy checklist

13 August 2021

Andrew Clifford

We are often approached by phone or e-mail and asked to provide a business valuation quote with limited information on which to provide our quotation.

Obtaining an accurate business valuation quotation

New grants available to ACT businesses and individuals impacted by the recent COVID-19 lockdown

13 August 2021

Andrew Sykes, Rhys Kyburz, Young Han

The ACT Government announced a range of measures to support local business and industries impacted by the recent COVID-19 lockdown.

New grants available to ACT businesses and individuals impacted by the recent COVID-19 lockdown

7 Ways to Secure Funding for your Tech Startup

3 August 2021

Jessica Olivier

Australian technology startups have certainly shone on the global stage in recent years.

Small business COVID-19 support grant for VIC

2 August 2021

Murray Calder

The Victor

Make Xero Count Workshop

2 August 2021

Are you interested in moving to Xero or are you already on the journey? Want to learn the tips and tricks to simplify everyday business tasks and more? Join us for a free, interactive, and informative Xero workshop for all current (up to intermediate level) and potential Xero users in your local area!

thinkBIG - Succession Planning

1 August 2021

For most privately owned and family firms, succession means planning for the sale of your business or handing over control to other family members when you retire. In this report, we not only look at the details for a successful succession plan, but we also take a look at timelines for the best execution of a succession plan.

NSW Government COVID-19: Cashflow Support – JobSaver

27 July 2021

The NSW State Government has released the guidelines and eligibility criteria for the JobSaver payment and Micro-Business COVID-19 Business Grant.

NSW Government COVID-19: Cashflow Support – JobSaver

Small business COVID-19 support package for SA

21 July 2021

Matthew Gordge

The SA Government, in conjunction with the Federal Government, has announced a new $100 million COVID-19 Business Support Package.

New COVID-19 Support Package for South Australia - Shopping Center

Point of sales systems – A point of difference for your business

16 July 2021

Vaughan Jeffery

Point of sales (POS) systems are much more than a simple cash drawer and EFTPOS machine, and implementing an effective POS system can be the point of difference for you and your tourism or hospitality business throughout this ‘post COVID-19 world’.

Point of sales systems – A point of difference for your business

Small business COVID-19 support grant for NSW

14 July 2021

The NSW State Government, in its efforts to reduce the spread of COVID-19 in the community, has imposed further lockdowns and restrictions on Greater Sydney.

Change and the importance of being an agile business

11 June 2021

Gavin Stacey

Agility is a broad term that can be used in a lot of different contexts. In business, we look at the flexibility and the ability of an organisation to rapidly adapt and steer itself in a new direction.

Change and the importance of being an agile business

Changes to Compulsory Super Guarantee Payments

10 June 2021

Cole Levy

As part of Australia’s superannuation system, employers are currently providing superannuation guarantee of 9.5% under Superannuation Guarantee (Administration) Act 1992 (Cth).

Changes to Compulsory Super Guarantee Payments

How to structure your tech company to get the most from your people

2 June 2021

Peter Revelas

Often, tech companies get started on a wish and a prayer.

Audit + Net-Zero

25 May 2021

David Wall

Investors are increasing the heat on businesses to audit and cut their greenhouse gases to achieve net-zero emissions. A major component of future business thinking will be around the design and active support of investment strategies to reduce carbon emissions.

Download our 3-part Digital Transformation eBook

19 May 2021

Every business or person has a different definition of Digital Transformation. In Australia, we in many ways are the ‘lucky country’ for cloud technology. So much innovation has come out of Australia and New Zealand that we could very well be 3-5 years ahead of other major markets such as the US, Canada, and UK.

Download our 3-part Digital Transformation eBook

Has your business outgrown its accounting solution?

17 May 2021

Five telltale signs you need to re-evaluate your technology ecosystem

Has your business outgrown its accounting solution?

How to value your business

12 May 2021

Steve Elias

The process of business valuation takes time and requires you as a business owner, to understand your company inside out to ensure a solid foundation when looking to grow or exit your business.

Payroll & rostering - Looking beyond Single Touch Payroll

18 March 2021

Reagan Manns

In recent years, business owners have been inundated with information on Single Touch Payroll (STP), however, as we close in on 12 months since STP became mandatory, it’s time to look at other aspects of payroll software that can help add value to your business.

Indicators of business value for family law matters

17 March 2021

Nadine Marke, Stephanie McAuliffe

When a set of financial statements comes across your desk, what are the key items you should look out for to determine whether a valuation should be sought to assist in the property settlement?

Preparing a business for valuation

16 March 2021

Nadine Marke, Stephanie McAuliffe

A valuation determines the estimated amount for which an asset should exchange on the Valuation Date between a willing buyer and a willing seller, in an arms’ length transaction after proper marketing, wherein the parties had each acted knowledgeably, prudently, and without compulsion.

COVID-19 stress testing medical practice owners

1 March 2021

Michael O'Hehir, Young Han

It’s been a challenging 12 months for people in the medical field. Amid a health crisis, they have stood strong on the frontline and bravely put themselves in situations that most people would go to great lengths to avoid.

Cloud Accounting for the Tourism Industry

29 January 2021

Kara Golding

With the ever-changing tourism landscape and how we interact with each other, having cloud software for your tourism business today is key.

Five ways SMEs can prepare for a post-COVID world

18 January 2021

Thiru Kandiah

With a vaccine on the horizon, a post-COVID ‘new normal’ may just become a reality during 2021. This means Australian SMEs need to consider how they will adapt and do business from here on in.

Can you undertake valuations in uncertain times?

10 November 2020

Nadine Marke

The COVID-19 pandemic has created uncertainty for businesses and volatility in the global economy.

Can you undertake valuations in uncertain times?

Federal Budget 2020-21: Opposition response

9 October 2020

David Rumble

The Federal Government’s platform, as emphasised throughout Treasurer Frydenberg’s Budget Address on Tuesday 6 October 2020, was clearly about developing a business lead recovery plan to ‘kick start’ the economy and bring Australia out of its first recession in 30 years.

Employing the right person

28 September 2020

While the difficulties you face when trying to fill positions will never be eliminated, the following steps can help you to make better decisions.

Post Pandemic - Is your payroll system the next disaster?

1 September 2020

Gary Sherwood, Jeremy Elman, Tim Gumbleton FCA

While most employers don’t deliberately underpay employees, errors can occur. Coles, Woolworths, Hero Sushi and MasterChef George Calombaris are the latest in a long line of companies and franchises to be caught in payroll scandals as a result of outdated payroll systems.

Is your payroll system the next disaster?

Working "on" your business

24 August 2020

All business owners know they should be working more “on” the business than “in” it, but most never find the time as they are just too busy.

Word of Mouth Marketing

24 August 2020

Word of mouth marketing is business’ best-known secret. This is an oxymoron I hear you say and that most business people know how important word of mouth marketing is. What they forget is that the key to success is excellent customer service.

What value can marketing provide your business?

24 August 2020

Do you ever feel like marketing your business is just too hard? Don’t give up. It just takes a bit of planning to make marketing an asset that is well-directed and cost-effective.

Rental property FAQ's and common issues tackled

17 August 2020

Mark Sissoev

During these uncertain times of COVID-19, some clients have used the time to assess their finances and plans for the future.

Rental property FAQ's and common issues tackled

COVID-19 lessons for tourism & hospitality businesses

17 August 2020

Simon Brown

It is difficult to imagine a more brutal series of circumstances than those that have assailed the tourism and hospitality industry as a direct result of COVID-19.

COVID-19 lessons for tourism & hospitality businesses

Improving Team Performance

10 August 2020

As a Manager or business owner, most of your working life is spent forming, motivating, monitoring and managing your team of staff.

Work from the Cloud Part 6 - Get a handle on recurring expenses

9 June 2020

Work from the Cloud - Recurring expenses

Work from the Cloud – Part 5 Adopt a collaborative, action-oriented space

3 June 2020

Work from the Cloud Part 4 – Review your online presence

27 May 2020

Work from the Cloud Part 3 - Move to a fully hosted email solution

26 May 2020

Work from the Cloud Part 3 - Move to a fully hosted email solution

Work from the Cloud Part 2 - Get your passwords into one system (and no, not in a spreadsheet!)

20 May 2020

Work from the Cloud - Password Management

COVID-19: Insights for businesses during uncertainty | Webinars

27 April 2020

RSM has hosted a number of webinars uncovering what the stimulus packages look like for you and your business. Please find a record of these recordings below: JOBKEEPER PAYMENT AND TAX IMPLICATIONS | 24 APRIL 2020

Pharmacy Businesses - COVID-19 Support

27 April 2020

This information pack is directed specifically at pharmacy owners and their businesses. COVID-19 support and economic stimulus packages are discussed and specific information is included around:

The JobKeeper payment for your SME business

21 April 2020

Tracey Dunn

Enrolment applications for the JobKeeper payment have now opened and for many business owners, the program will provide a much needed lifeline.

JobKeeper payment enrolment applications have now opened.

Increasing instant asset write-off to items under $150,000

20 April 2020

William Laird

RSM is pleased to provide this information sheet with details of the increased instant asset write-off available to small and medium-sized businesses.

Emergency Cash Grants for VIC small businesses

15 April 2020

Sam Mohammad

On 21 March 2020, the Victorian (VIC) State Government announced a one-off $10,000 emergency cash grant for small businesses impacted by COVID-19.

Emergency Cash Grants for VIC small businesses

Emergency Cash Grants for NSW small businesses

15 April 2020

Sam Mohammad

On 3 April 2020, the New South Wales (NSW) State Government announced a one-off $10,000 emergency cash grant for small businesses impacted by COVID-19.

Emergency Cash Grants for NSW small businesses

Emergency Cash Grants for SA small businesses

9 April 2020

Brad Loftus

On 9 April 2020, the South Australian (SA) State Government announced a one-off $10,000 emergency cash grants for small businesses impacted by COVID-19.

Impact of COVID-19 on Small and Medium-Sized Businesses (SMEs)

23 March 2020

Adam Crowley

Enhanced instant asset write-off Immediate deduction for eligible assets1 costing less than $150,000 (excluding GST credits) first used or installed ready for use between 12 March 2020 to 30 June 2020.

Impact of COVID-19 on Small and Medium Size Businesses (SMEs)

Highlights from the second stimulus package

23 March 2020

Tracey Dunn

The Prime Minister, the Hon Scott Morrison and Treasurer, the Hon Josh Frydenburg have announced the second stimulus package. The stimulus package provides unprecedented support to those ‘at the front line’ including small businesses, employers and workers who are experiencing the impact of coronavirus now.

Stimulus Package #2 - Unprecedented Support by the Government

"Just where has all the profit gone?"

19 March 2020

Michelle Seeto

Without doubt, the most common question an accountant is asked: “why does my profit not equal the cash in my bank account?”.

SME Business, Pharmacy, Profits, Cash, Statements, Accountant, Business, Business Management, Cashflow

Key changes to annualised salaries covered by modern awards

19 February 2020

Joanne Gilbert

There have been some key changes to annualised salaries covered by modern awards including the Pastoral Award.

Independence issues for internal auditors

12 February 2020

Michael Shatter

Internal audits can help organisations understand how well they’re managing their risk, control, and governance processes. Internal auditors don’t just examine an organisation’s financials; they review all aspects of its operations to identify ways to help the organisation improve its performance.

Pay Your Super First

10 January 2020

SuperStream and more recently Single Touch Payroll (STP) have both been significant changes to the payroll compliance framework for employers.

Surviving due diligence for a Pharmacy Business

1 January 2020

Michelle Seeto

Buying a pharmacy should be treated like any other big investment or commitment you make in life.

How do you manage business performance?

22 November 2019

Navigating your business toward success can be like sailing a ship with a faulty compass at times. The needle can seemingly spin in circles trying to find where true North is. When you need to make wise business decisions, you need your compass to reliably show you the way. Good business intelligence is the answer.

What are the basics of business?

28 October 2019

How many of you remember life before smart phones…or even before the simple mobile phone? How ever did we manage to survive or even get in touch with someone urgently?

A guide to changing a business structure

25 October 2019

Grace Gan

Nothing is permanent except change.

Are you Single Touch Payroll ready?

24 September 2019

Alex Alander

The deadline is fast approaching for small businesses to be registered and lodging their payroll information to the ATO using the Single Touch Payroll (STP) reporting system. Are you registered and lodging? If not, you have a small window to register and start lodging!

Superannuation Guarantee Amnesty - A case of deja vu

10 September 2019

On Wednesday 18 September 2019, the Assistant Treasurer, Mr. Michael Sukkar, introduced an unexpected but welcome Bill to the House of Representatives.

The ‘P’ in Pharmacy – It’s about Professionalism, not Price

9 September 2019

Michelle Seeto, Peter Saccasan

The ‘P’ in Pharmacy – It’s about Professionalism, not Price

Sign up for an Asset Protection event near you

8 September 2019

Imagine losing all of your assets in one fell swoop – house, cars, savings… the lot. Insurance can never protect against every scenario, but asset protection can try.

Asset protection vs tax optimisation

17 August 2019

In business, there are many risks that are simply out of your control. This thinkBIG report takes a closer look at one of the great conundrums for owners of small businesses - the balance between asset protection and tax optimisation.

Budgeting and forecasting for your pharmacy business

30 July 2019

Michelle Seeto

Having cash in your pharmacy business gives you the ability or confidence to make important decisions and provides you with a sense of security when you go to sleep at night.

Budgeting and forecasting for your pharmacy business

Pricing: Is your business going backwards?

29 July 2019

Anthony Smith

Is your business going in the wrong direction? How often do you review your prices? When did you last increase your prices? Do you pass increased costs on to your customers?

4 Tax Tips for Pharmacy Business Owners.

2 July 2019

As the income tax year draws to a close yet again, many pharmacy

Is it a scam? - How to avoid falling into the ATO scam trap

25 June 2019

In this day and age where text messages, phone calls, and emails are the norm, receiving something suggesting it is from the ATO doesn’t necessarily cause red flags to pop up anymore.

Business advice for your veterinary practice - Our services

20 June 2019

Working with you to strengthen your vet practice, so you can face the future with confidence. Whether you care for cats or cattle, the vet industry is changing.

Avoiding the pitfalls of a partnership breakdown

6 June 2019

Felicity Taylor

We are all familiar with the old saying, “if you fail to plan, you plan to fail”.

Grants, Rebates and Incentives for Australian SMEs in 2019

3 June 2019

Providing information on government funded incentives, rebates, grants and offsets.

Instant asset write-off increased to $30,000 – more businesses to benefit

14 May 2019

Mike Letchford

There is some good news for business on the instant asset write-off front. Both the size of business and the amount you can write off instantly as a tax deduction has been increased. While these measures are welcome, it has added a little complexity for the year.

Superannuation & the federal election – change is on the horizon

3 May 2019

Dean Carnaby

With a federal election just weeks away and party campaigning in full swing, what changes to superannuation may be on the horizon? Coalition Win: Unscathed Superannuation

Managing your margins in the hospitality industry

16 April 2019

The management of key cost margins is imperative for operators of café and restaurant businesses, as this industry is characterised by high sales turnover and high input costs.

What is Single Touch Payroll and how will it affect my business

26 March 2019

Dace Harris

Are you ready for the Modern Slavery Act?

19 March 2019

Jayesh Kapitan, Mathavan Parameswaran

On 1 January 2019, the Modern Slavery Act (Cth) (hereafter “federal Act”) came into force. What this means is that Australia, following in the UK’s footsteps, has federal legislation which requires, among other things, certain entities to report on the risks of modern slavery in their operation and supply chains.

Modern day challenges for hospitality and tourism businesses

12 March 2019

The hospitality and tourism industry in Australia today is continuously changing, specifically with regards to the demographic profile of travellers and the technological advances of the modern world.

Digital team at RSM meets TANDA

6 March 2019

Single touch payroll - soon mandatory for every employer

26 February 2019

The ATO has followed through on plans to improve digitisation of tax reporting and returns, making it mandatory for all employers to use Single Touch Payroll from 1 July 2019.

Surviving the hospitality cash flow conundrum

15 February 2019

Steffie Wallner

When the music stops, will your business cope?

What to do about the summer holiday cash flow bell curve

11 December 2018

Any local business operator in the hospitality industry will be able to relate to the summer holiday period rush. When reviewing the month to month annual profit and loss results, they can usually be displayed graphically as a significant bell-type curve.

The essentials of cloud accounting

6 December 2018

Simon Brown

Transitioning from a desktop product to a cloud accounting package is one of the best decisions you could make for your business this year.

Are you across the New Payments Platform?

1 November 2018

The wait is over, after 4 years in the making and months of delays the New Payments Platform is finally here! What is it and what does this mean for your business? Key benefits: Real-time movement of money Simpler, smarter addressing (PayID)

Adopting mobile and cloud technology in your Trade Business

19 September 2018

In the ever-evolving world of mobile and cloud technology, it's easy to get left behind on the latest developments that can help trade business owners mobilise their workforce and take away a hefty portion of their admin burden.

10 tips to make your business transaction-proof

13 September 2018

Are you and your business ready to take the next step?

The importance of making a profit

19 July 2018

Entering into a franchise agreement may be the best business decision you ever make.

Single Touch Payroll reporting is coming - employers take note!

16 March 2018

Employers with 20 or more employees will need to change the way they report to the ATO from 1 July 2018. Single Touch Payroll (“STP”) is a new reporting system the ATO has introduced. STP involves the reporting of payroll payments, PAYG and superannuation directly to the ATO for every pay run that is made.

Going digital in my business? How do I do that?

4 December 2017

Finding a reliable IT advisor is, so they tell me, a bit like finding a good mechanic to look after your car. You can spend a lot of money working out you haven’t found the right person yet.

HR systems – the benefits for small businesses

3 October 2017

As a small or medium sized business, you might be thinking that implementing a HR system is unnecessary or irrelevant for your business. After all, HR systems are just for large corporations, only accessible by a limited number of HR and payroll administrators, and used to electronically store an endless number of personnel files, right?

CRM systems - taking the stress out of building your database

26 September 2017

Customer relationship management systems, often referred to as CRM systems, are designed to do exactly what they say they’ll do, manage your relationships! However we all know that customer data does not populate itself, so how can you streamline this process and take the stress out of populating your da

Making disability services viable within an ‘NDIS world’

22 September 2017

Kirsty McGovern-Hooley

Knowing ‘thy core mission’ is the key to surviving the transition to a NDIS environment.

Unlocking vital business information

20 September 2017

Travis Bate

In a tough economic environment, small businesses may be forced to cut costs in order to remain viable. A significant cost for many small businesses is labour, so this is an area commonly targeted.

Estate planning and the impact of loan accounts

20 September 2017

The impact of loan accounts in business structures on your Estate planning can be far-reaching.

Cloud accounting packages - what you need to know

19 September 2017

Transitioning from a desktop product to a cloud accounting package is one of the best decisions you could make for your business this year. Here’s what you need to know about making the switch.

Failure to seek commercial and strategic advice crippling SMEs

2 August 2017

Many Australian business owners are frustrated at not reaching their growth targets because they haven’t identified the need to transition from an accountant providing basic tax compliance advice to a business advisor who can help implement the right growth and profit targets via strategic advice.

Great profits? It's not just about great sales

25 July 2017

Michael O'Hehir

It’s very common for a business owner to focus on their turnover or the sales they generate.

Should your SME start making R&D tax claims? | R&D Tax Incentive

15 June 2017

Richard Wraith

In light of the disproportionate number of small and medium-sized enterprises (SMEs) lodging annual R&D Tax Incentive claims, there’s never been a better time for non-participating SMEs to consider their options, urges Dr Richard Wraith R&D Tax Principal with RSM Australia.

Stress at work – destigmatising mental health issues in the workplace

6 June 2017

The importance of destigmatising mental health issues in the workplace.

Agile Leadership - Three inputs model | Part 3

31 May 2017

The last model relies on an environmental form of management to build state change. It is also longer term and rarely instant. Individuals and companies can work on state change by altering any of the three inputs to state.

Sell your business tax free - is this too good to be true?

19 May 2017

Jade Wade

In many situations this is entirely possible. When small business owners dispose of active business assets, they may be entitled to disregard some or all of the capital gain by utilising the available Capital Gains Tax (CGT) concessions.

Agile Leadership - Jump to state model and reframing your beliefs | Part 2

18 May 2017

Jump to state model It is absolutely possible to instantly change your mood (state). Just consider the last time you felt amorous toward a partner, and it turned cold when they started discussing the neighbours, the news or your finances. Instant change.

Caveat Emptor - Let the buyer beware

4 May 2017

Simon Brown

Let the buyer beware - a simple and obvious statement but one which is particularly relevant to business people. This period running up to the end of the financial year is a popular period for vendors to dispose of their business. If you are considering purchasing a business, it is worthwhile considering a few issues.

Agile Leadership - What it is and the role state management plays | Part 1

28 April 2017

A few years ago ‘bespoke’ was the buzzword. Last year it was ‘ramp up’. Nowadays agile is quite the term, but as always with such words, it has a very fuzzy meaning.

Cloud Accounting can help save bookkeeping time!

10 April 2017

Jarrad Turnbull

For the many business owners who spend too much time doing bookwork, now is the optimal time to make the switch to an internet-based bookkeeping software, known as cloud

Why customer service is vital in a sea of automation | Part 3

28 March 2017

Do you want your business to stand out from the rest? Offer a quality user experience! Great customer service isn't just about resolving an issue. If you really want to differentiate yourself and impress your customers, you need to consider their experience from beginning to end. This is where user experience comes in.

Why customer service is vital in a sea of automation | Part 2

17 March 2017

5 Simple ways to improve your customer service Have you ever been so frustrated by a company’s customer service? On the other hand, how incredible is it when a company has excellent customer service?

Why customer service is vital in a sea of automation | Part 1

9 March 2017

How to increase profits through better customer service. "Customer service is not just a warm and fuzzy addition to your business practices, it's directly linked to your profitability and sales. This is why it needs to be a priority and a focus for any business that wants to grow or even survive in a highly competitive future"

Small Business Income Tax Concessions - Am I small enough?

23 January 2017

Arlene Kristianto

It is a well-known fact that small to medium businesses drive the majority of the Australian economy. The ATO has made certain income tax concessions available for small entities in particular, since at least 2002 with the introduction of the Simplified Tax System which then transitioned into the now known Small Business Concessions.

Business Partnership: easy to get in, sometimes painful to get out

23 January 2017

Jim Adamson

As the saying goes “ If you fail to plan, then you plan to fail! ” Not enough planning goes into starting a business partnership prior to its commencement.

The fine art of hiring consulting services

14 December 2016

David Wall

By investing more time running a competitive tender process, companies should end up with consulting services that better reflect their business needs.

Fraud and corruption prevention for SMEs

8 November 2016

Roger Darvall-Stevens

Stopping your company from being a target for fraud and corruption

Budgeting for Innovation

4 November 2016

Jessica Olivier, Richard Wraith

Many businesses use innovation to grow, however the challenge and failure of many companies that carry out innovation projects is to inadequately budget for the innovation.

The fine art of determining a customer's true worth

21 October 2016

How does a CLV determine a customer's true worth?

Behavioural Insights - An introduction to 'Nudge' theory

6 October 2016

Have you ever looked up as you entered your local supermarket?

Are low interest rates reducing business risk?

23 September 2016

The current low-interest climate In 2016, the Reserve Bank has again lowered the cash rate, taking a 0.25% cut to bring the rate down to the current 1.5%. It really is staggering – an official cash rate of just 1.5%. Recently one bank has come out and boldly predicted the rate will fall to 1.0%.

How much tax will you pay on your profits?

13 September 2016

It’s estimated a million small and medium-sized businesses were given some tax relief last financial year and from July 1 this year are benefiting from an additional tax cut. Are you one of them and taking advantage of it? How the tax cuts works

Understand and navigate the new ASX changes

24 August 2016

Glyn Yates

A consultation paper was issued on 12 May 2016 by the ASX providing details of the changes in admission requirements for those entities applying to be listed.

Don't follow 'the pack'

11 August 2016

Have you ever heard of the mysterious 'they'? If you are a parent of teenaged children 'they' are close family friends. You know how it goes, 'they' always get the most privileges, have the best parents ever, go to the movies every weekend and of course, 'they' have an unlimited phone plan. Yep, 'they' are living proof that I, as a parent, know nothing.

Introduction to Short Term Restorative Care (STRC)

21 July 2016

The majority of top tier providers (according to financial performance) take the specialisation route. This makes sense because, whilst the provision of care is common in all services, the business models across service areas vary significantly. The bottom line being; doing what you already know reduces risk.

9 ways to reduce business costs

21 July 2016

Every business owner is aware of the importance of keeping costs low while continuing to offer customers the best service possible. Equally, that no matter how profitable your business is there is always a bit of fat that could be trimmed away to reveal a faster, leaner, more effective operating model.

SMEs eye the ABCs of SMSFs in retirement

11 July 2016

Much of the whopping 25 percent jump in the uptake of bank debt recorded within our thinkBIG survey 2016, may be attributed to an increasing number of SME’s buying their own premises.

Directors shouldn’t second-guess asset values

6 July 2016

Glyn Yates

Regardless of their size, past acquisitions are coming back to haunt the financial statements of a growing number of ASX-listed companies.

Four ways to grow your business

1 July 2016

Michael O'Hehir, Peter Nicol

As a business owner, most would agree that the dream for your business is to one day see your hard work turn your small business into a leader in your industry. Expanding your business means taking on more staff, in the hope you can spend more time with your family.

Stress at work – destigmatising mental health issues in the workplace

6 June 2016

The importance of destigmatising mental health issues in the workplace.

Are you market intelligent?

31 May 2016

The foundation of any successful business strategy is market intelligence. Being informed means you can make competent decisions about your business’s direction and have the foresight to predict and be prepared for the challenges ahead.

10 things politicians teach us about impression management

20 May 2016

What comes to mind when you think of Donald Trump or Hilary Clinton? I’ll wager the images which come to mind are very different from Malcolm Turnbull or Bill Shorten. Both Trump and Turnbull are independently wealthy, that’s for sure but would a man like Trump ever be taken seriously in our political landscape? I’m not sure he would.

What price are you really paying for that pharmacy?

19 May 2016

Last month I wrote about the art of negotiation in a pharmacy purchase. If you get the timing right with asking the right questions you can generally argue the price down in a sensible way. This month I want to look at the impact of paying above valuation for a pharmacy and what that means for your investment. Current pharmacy market

Are you in good shape? How about your business?

2 May 2016

At a tender age of 50+ (now that I have been here for a few years, ‘50’ is the new ‘40’ okay!), I have recently bounded off for the ‘executive health check’. After 2 ½ hours of testing, sampling, hitting the tread mill etc., I (and my wife) am pleased to report that all is well. All the vital signs are in good shape and no alarm bells are ringing.

Tips to improve your cash flow

17 February 2016

The start of the new year provides small businesses with the perfect opportunity to improve their credit management and cash flow conversion cycle. Here are some tips for improving your credit management and cash flow in 2016:

That dollar discount – the power of 3!

5 February 2016

EVEYRONE knows what the dollar discount is about. So let’s just talk about some issues. Firstly – it can apply to ALL scripts. The big focus has been on concessional patients but the discount can apply to general scripts as well.

Stress and Resilience – Change Management in Organisations

22 January 2016

Summer in Australia has just passed, with the New Year being celebrated under our blazing sun. How do you usually experience this time of the year? Some people find it relaxing and wonderful, whilst others have the most stressful time of their lives. These are very different reactions to the same season. Change, whilst normal, brings stress.

Five areas corporate Australia should be aware of in 2016

21 January 2016

The introduction of new tax measures, increasing insolvencies, and the growing incidence of digital disruption in the corporate sector in Australia means there are a number of key areas that CEOs, executives, directors, and boards should be aware of in 2016, according to RSM Australia.

Tax help for those affected by the recent bushfires in Victoria and Western Australia

15 January 2016

Bill Beard

Tax help for those affected by the recent bushfires

Practical business planning, it's easy as now, where, how

15 January 2016

Building a business plan is not difficult. Yes, it does take a little time, and yes, it is a useful process. The process can be brought down to just three clear steps: where are you NOW? WHERE are you headed? HOW will you get there?

Building Effective Recruitment Functions

7 January 2016

The recruitment team should seek out the best candidates and proactively bring them to the organisation. Recruitment is the most important HR function. Unless organisations attract and hire the right talent they cannot hope to achieve their full potential.The recruitment team should seek out the best candidates and proactively bring them to the organisation.

The NSW small business grant

6 January 2016

Brad Loftus

The NSW Government has introduced a new grant providing incentives for NSW businesses to employ new workers and expand their enterprises.

10 things business owners should focus on in 2016

22 December 2015

The Reserve Bank of Australia (RBA) forecast suggests the domestic economy will remain stable into 2016 and low interest rates are set to continue. [1] This is likely to create some growth in consumption, which is good news for small to medium-sized enterprises (SMEs).

Activity Based Costing - As easy as ABC

22 December 2015

Rodney Miller

Whether you are trying to reduce your operating expenses, improve efficiency or determine how much to charge your customers, gaining an understanding of your cost structure is an important first step. RSM is experienced at undertaking cost structure analysis and a key approach we use is Activity Based Costing (ABC).

Drought Concessional Loan scheme

18 December 2015

Bill Beard

The Australian Government has recently announced $30 million to support farmers dealing with drought conditions across Victoria.

Has your organisation experienced a year of change? If so, how do you think it has fared?

10 December 2015

This morning, RSM hosted the Change Management Institute’s Christmas Breakfast at which Dr Robert Holmes, Consultant at RSM in Canberra, spoke on “Stress and resilience: Change management in organisations”.

NSW payroll tax rebate scheme extended - 23 November deadline

16 November 2015

Jamie O'Rourke

The payroll tax rebate scheme has been extended to 30 June 2019. Payroll tax rebates can be up to $5,000 per employee in situations in which a business’s full time employee numbers have grown and in which new employees are retained for a two year period.

Programme evaluation for contemporary government

11 November 2015

Evaluating modern policy programmes Effective government develops and implements policy in response to complex issues through instruments, such as laws, advocacy, monetary flows, programmes and initiatives. Over time developing and implementing effective policy has become increasingly difficult as a result of three factors:

Managing change at board and executive level

10 August 2015

RSM recently held a lunch featuring a panel including Paula Dwyer, Professor Judith Sloan and Fiona McGauchie with Catherine Walter as MC to discuss how to manage change at board and executive level. This is a synopsis of the event.

46 percent of SMEs planning to invest in the digital space

5 August 2015