Like any relationship, timely communication between creditors and debtors goes a long way to avoiding trouble. If you operate on credit terms and are upfront with customers about what payment is expected and when, it’s much easier to follow up with them on an overdue account. Business owners who keep track of when invoices are …
For those that applied for the Small Business Cashflow Loan (SBCS) in 2020, the 2-year interest-free period will be coming to an end during 2022. All businesses that received the first loan will start receiving letters advising that the interest will soon be charged to the loan and repayments should commence. If repayment is received …
Repayment information for the Small Business Cashflow Loan Read More »
It’s a given that you’ll want to maximise your business income. Sometimes, however, when factors outside your control are limiting your income, rethinking your costs might be where you can shift your outcomes in your favour. Whether the market’s in an upward or downward cycle, good systems for tracking and controlling costs will help your …
We have many years experience helping our clients looking to buy or sell a business. Talk to someone at Engine Room Accountants who you can trust to ensure you’re set up to take on a viable business.
How to strengthen your business in times of increasing costs From the 1st April 2022 the minimum wage will increase to $21.20 an hour. Small business owners who employ staff on minimum wage will have to increase wages accordingly. Small business owners are already feeling the strain of recent global and local events and this …
Are you Ready? As a business owner or manager, you need to be ready for the increase in minimum wage rates on Friday, 1 April 2022. If you have not yet talked to your accountant, payroll provider or your finance/HR teams, now is the time. It’s also an opportunity to check your employment records, processes …
2nd COVID-19 Support Payment to open on 14 March A 2nd COVID-19 Support Payment (CSP) will open on 14 March and a 3rd payment will open on 28 March. The period of time each CSP will cover are: For the 1st CSP, businesses will need to show their income is 40% lower in a 7-day …
March 2022 Update Changes have been made to the Small Business Cashflow Loans Scheme to increase the amount of funding available to eligible businesses through the introduction of a ‘top up’ loan. The top up loan will allow those firms that have already accessed a loan to draw down an additional $10,000 with a new …
February 2022 Businesses struggling with revenue during the Omicron outbreak can apply for new targeted funding, as announced by the government on Monday 21st February. Applications for the first payment open on February 28, with payments starting from March 1. There will be 3 payments in total, available on a fortnightly basis. The new scheme …
New financial support for businesses affected by Omicron Read More »
With inflation on the way up, is it time to raise your prices? A few reasons why you should – and some reasons why not – so you can consider your next move. The rising cost of goods and services has been driven by local labour shortages as well as higher shipping costs and product …
