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Unleash the Beast… in your business

As Australian small businesses enter 2012, they do so against a backdrop of uncertainty. Factors contributing to this sense of unease include the European debt crisis, the looming (and as most commentators are saying inevitable) GFC2, and the announcement of Australia's weakest employment growth in two decades.

There is no doubt that budgets are tight. And it appears that the market uncertainty that is killing consumer confidence is set to continue for a long time to come and businesses will be hit harder than ever.

The message for business owners remains the same though: those who continue to seek expert advice and invest in periods of downturn are the ones more likely to reap the benefits when consumer confidence improves.  And making the right choices is an enormous part of making it through this period of uncertainty. Read more…

Ready. Aim. Firing in 2012!

Conducting a sense-check of your business in Quarter 3 is a prime time to make any necessary changes.  It is an especially good time to review the cash flow requirements of your business so that you can take that into account when it comes around to interim accounts preparation in a few month' time. Read more…

Shikshan Gram’s thanks say Collins Hume is making a difference

With the dawn of 2012 seeing Collins Hume exceeding 100,000 giving activities, we are thrilled to receive some feedback about how our contribution helps one of our recipients.  For the latest summary of our giving impact, please visit our Giving Back page on our website.  For now, please enjoy reading the letter from Shikshan Gram Shelter for Homeless Children: Read more…

"I was galloping on a crystal horse, and then crashed into a brick wall.  My wife had to pick up all the splinters"

Succession planning, estate planning and risk insurance - why it's best to address them today for tomorrow's success

Retirement often seems like a distant speck on the horizon, let alone plans to hand over the business.  However, establishing a sound business succession plan is beneficial for most business owners and can be absolutely necessary for some. Read more…

Are tax bills and bad investment returns eroding your retirement savings?

It's true we are living longer.  And more than ever, you should be thinking and planning for retirement well in advance. However, this longer lead time means the journey can be fraught with investment decisions and tax liabilities that may not be properly considered.  Read more…

A segment of the Tourism Industry now eligible for Enterprise Connect grants

The Australian government has announced that a sector of the Tourism Industry is now eligible to seek assistance from Enterprise Connect.  To be eligible, the Tourism sector must derive a significant portion of its turnover from tourist accommodation, tourist attractions, wineries, tour operations and travel agency services. Read more…

Collins Hume by client's side during business sale puts retirement planning end clearly in sight

Attractive opportunity to wrap up and sell the business suddenly made everything a priority, including retirement planning

Our client recently sold his business to a competitor who came along at the right time offering the right price.

We had been discussing negotiations back and forth for some time as is usually the case in these situations.  Our client owned their commercial premises but we recognised early on that there were also issues around accessing funds, Capital Gains Tax (CGT) and maximising super contributions.

As our client needed to start taking steps to retirement and the business sale negotiation was a tough, drawn out process, CGT, commercial property transfer and super were becoming secondary to getting the deal done.

Then the contract was signed. Read more…

The ups and downs of Christmas cash flow (and a gift from Collins Hume)

Christmas has a psychology of its own.  Christmas and gift giving (aka 'spending') stretches well beyond the designated dates.  For retailers, the sooner we're in the spirit the more likely it is that we'll spend on gifts and entertaining. Read more…

If cash is king, make your cash flow planning keen

Project. Forecast. Finger in the wind or a crystal ball approach? Call it what you will. Any accountant or business adviser can tell you why you need to prepare a cash flow projection.

At Collins Hume we understand the practicalities of running a business. We see firsthand not only the frustration but the outcome of neither using nor preparing a comprehensive cash flow forecast. Read more…