STARTING A BUSINESS

MONEY & FINANCE

Mastering money and finance is a core skill when you're running a start-up business. BizThinkTank has invaluable advice on the best low cost business ideas, getting finance for cashflow or growth, and making the most of Government assistance and grants. Learn how to make cash forecasts, follow the money trail, and maximise your profitability. And make sure you understand how Australian tax law applies to your business.

The opinions expressed in these articles are those of the author and not those of Optus. The articles on this website contain general information only and are not intended to be relied on as legal, financial or professional advice. Readers should seek their own advice based on their specific business [or personal] needs.

Work on the details

When tough times hit, it's crucial to analyse your business to work out how you can work smarter and also learn from your experiences.

Master of his web domain

Finances might not be your thing - but they are part and parcel of running a business.

Moving outside the daily grind of regional business

For a regional business driven by sales, turning a $9000 personal loan into an entity worth tens of millions of dollars within 13 years may seem like a dream. For Kenton Campbell, founder and CEO of Zarraffa's Coffee, it was a dream come true.

Turning up the heat in the kitchen

If necessity is the mother of invention, then opportunity is the father of the entrepreneur - as a business leader you have to harness opportunity to grow your business.

How to make money

Not good at negotiating? You'll be pleased to learn that great negotiators can be made, not born! It's in your business's best interest to become a master negotiator, so be sure to master the art of negotiating to boost your bottom line.

Manufacture reliable cash flow

It may go without saying, but not having cash flow under control is one of the major reasons for business failure. Debtors not paying on time can make or break a business, especially in an industry that relies on big orders. Business owners often com

Business online

New businesses often have problems initially, but it's the lateral thinking entrepreneurs who can see the business through.

Digging for Tax Treasures

Despite the importance of tax to your business, do you really know the ins and outs of all the laws associated with it?

Ways to Keep Cash Flowing

Cash flow is crucial to the health of any business. Here are some tips to assist in keeping the cash flowing. If you need to give customers time to pay and you are sure they are reliable, then work out credit terms for them.

Help from above

One of the greatest problems with small business people is that they spend too much time working in their business and not enough time on their business.

Up close and personal with the ATO

Did you know that a small business can get a visit from the Australian Taxation Office with the surprising message, 'We're from the ATO and we want to help'?

Wealth creation

Over the years, I've pondered what really holds people back and I reckon the greatest hurdle to success is old habits. You see it with athletes when they change coaches, or even get a coach for the first time.

Cash forecasts

There's one thing for certain and anyone in business knows it. If you don't understand the impact of a cash flow gap (the time between cash going out and cash coming in) you can turn a profitable job or project into a financial mess.

Save time, save money

When it comes to tax, most people don't know what they don't know! That's why seeking out expert help is important. The key to running a business is finding experts, such as an accountant, business coach, bank manager or lawyer, who can add value.

A taxing issue

A mate of mine is a big business traveller and he and his wife own a private company. And because of the tax concessions he accesses, his spouse thinks it's better value for him to sleep away from home...

A necessary expense?

What expenses can you claim before you start your business?

Home-based business insurance

When choosing an insurance company, it's crucial to do the research to find the best cover for the business.

Money trail

There are lots of reasons why your business might need extra money. You might want it to start your business, grow or finance a new project or to help cash flow.

Lease rather than buy?

What should you know about leasing? A lease is an agreement or contract giving someone (the lessee, ie. you) the right to use, for a set time, property legally owned by someone else (the lessor).

A man and a woman

It is popularly asserted that bank lending has become gender neutral.

Loans -- getting other people's money

Most businesses, big or small, need to borrow money. The borrowing requirements for various small businesses can be different. Also, many such borrowers might be first-timers.

Food for thought

With more than 450 million sandwiches consumed in Australia every year at a value in excess of $7 billion, the once humble sandwich bar is now big business.

Picking a winning franchise

Doing a fair amount of research before buying a franchise is important so as to ensure you pick one that will enjoy longevity and won't become a decision you regret.

How do you make money?

It's one of the most important things for making a business run. Here are some tips on how you can build your wealth. Edward de Bono said great business owners think outside the square; they are lateral thinkers.

Negotiate on price

Negotiating can be tough, but knowing the market and doing the research on a product or service you wish to buy can put you in a better position when it comes to doing a deal.

Let's Get Structural

Before starting your own business, it's important to know what you are getting in to. Here are a few tips and ideas to get you started.

Tips for home-based businesses

Operating a business from home can be a great opportunity, but is something that requires discipline.

Start up steps

Have you got a great business idea, but don't know if you're cut out for the work, or even where to begin?

Sink or Swim?

What questions do you need to ask yourself before you start up your own business? Starting a business doesn't necessarily mean succeeding in business. Approximately 80 per cent of businesses fail within the first five years.

Fill the cracks

Here are a few tips to consider to ensure your business persists through tough times.Churchillian,

What's the lesson from the Big Mac?

A few years ago it became apparent that all was not well in the land of fast-food giant McDonald's.

RECENT ARTICLES

10 lessons from the dotcom bust

March marks a decade since the beginning of the end for the dotcom bubble. On March 10, 2000, the technology-heavy NASDAQ sharemarket index peaked at 5048.62 - double its valuation of a year earlier

The entrepreneurial factor

Leadership is one of the most important ingredients when it comes to growing a business. It's also crucial to take lessons from other great entrepreneurs on board.

Switzer's Hint

John F Kennedy on the need to embrace change once said: "Change is the law of life and those who look only to the past or present are certain to miss the future."