NCA Blog

What is your succession plan?

According to recent research, a staggering two thirds millionaire-owned businesses are operating without a succession plan—and even fewer small business owners are prepared for the owner’s eventual exit.

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So you’ve launched your business – now what?

Did you know 97% of all businesses in Australia are classified as Small Business?
The Australian Bureau of Statistics shows tens of thousands of small businesses are entering and leaving the economy every year. The good news is the rates of those business surviving their first year has increased in the last 10 years.

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The ALP’s proposed tax changes

The ALP’s proposed tax changes – what it means for you …

With an election just around the corner, the ALP under Bill Shorten is certainly not making themselves a ‘small target’ by releasing many tax policies. The one that has received a lot of media time is in relation to the proposed scrapping of refundable franking credits.

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Eight Characteristics of successful small businesses

We now look at eight characteristics important to successful small businesses. International researchers who have studied many small businesses have found that these characteristics consistently play a part in the success of small companies. The eight characteristics are:

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Single Touch Payroll – Now Legislated!

Following on from our blog that was posted back in November last year, at which time there was still some uncertainty as to whether the Single Touch Payroll Bill would be passed by the Senate, we can now confirm that it has been legislated meaning STP will be mandatory for all employers effective 1 July 2019.

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What are your small business New Year resolutions?

The beginning of a new year is the perfect time to reflect on what’s working in your business, and to set some goals for the year ahead. Set aside some time to think about your recent achievements, and any current challenges. Think about your work style, too. If you’re like many small business owners, you may be guilty of bad habits that can hold your business back, such as:

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Is a business mentor worthwhile?

“Mentoring is a brain to pick, an ear to listen, and a push in the right direction.” — John Crosby

The opportunity to learn from a mentor can do more for a small business owner than any course, educational program, or degree. Being a mentee means you get the benefit of first-hand experience, without having to make all the mistakes yourself.

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Single Touch Payroll – Are You Ready?

There has been talk from the ATO on the subject of Single Touch Payroll (STP) dating back as far as 2014, however it has only been over recent times that we have received further information about what STP really is and how it will affect employers.

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