• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Business Report
    • 20 Top Research Organisations
    • Tobacco Laws
  • Takeovers & Mergers
  • Doing Business
    • Start-up
    • Tax Review
  • Video
  • Biz Directory
    • Free Directory Listing
    • Links
  • Guest Post
  • Contact
    • About

Australian Business News and Times

Business News ,Reports and Times of Australia

  • 2011
    • 2010
  • Business
    • Small Business
  • Mining
  • Real Estate
  • Australia
    • Australian
    • ASX
  • Finance
    • Report
  • Offers
  • Times

Financial plan

Building A Successful Business By Boosting Employee Satisfaction

April 8, 2020 by Reporter Leave a Comment

clip_image002

It’s been said by experts that employee satisfaction is key to a business’ success. An organisation will fall behind if it isn’t able to retain its employees. Even when the job market is weak, top talent will be able to find plenty of job opportunities. How can a business attract excellent employees and retain them?

When it comes to employee management, there aren’t any strict guidelines that you need to comply by. With that said, you’ll want to make sure you have a clear picture of how your employees are motivated.

Finding Intangible Sources Of Motivation

Naturally, a company will need to offer competitive wages and strong benefits if they want to get the attention of top talent. Unfortunately, paying well may not be enough to retain workers that have a lot of opportunities. Wages and benefits aren’t the only things that employees consider when they’re trying to decide whether or not they should leave a job. Some of the best ways to improve the satisfaction of your workers won’t cost you anything at all.

Some of the intangible things workers look for include:

● Workers want company leaders to communicate with them. They don’t want to find major developments via gossip or press releases. They want to hear about new strategies and plans for the future.

● Workers want to feel appreciated. They want to hear from leaders about the impact their activities are having on the company.

● Employees want to work with leaders who are willing to listen to them.

This is why it’s so important for managers to have regular meetings with the members of their team. During these meetings, leaders should pass along essential information, invite workers to ask questions and encourage them to give feedback. Companies should have an open communication policy that begins with senior management. From there, these policies will spread throughout the business. These values are something that should be expressed in employee handbooks and in any job descriptions that are posted.

Realising the Important Roles of Management

No matter what an employee’s title is, it’s likely that they’ll want to contribute to the organisation they’re working for through their leadership skills. Workers want to be involved in the decision-making process, especially when it comes to decisions relevant to their role at the company. They also want to be recognised for the contributions that they make.

Small business advisors at Lend say “employees quit bosses rather than jobs.In fact, a research proves that 57 percent of employees have left a job because of their manager. Moreover, 14 percent have left multiple jobs because of their managers. An additional 32 percent have seriously considered leaving because of their manager. ” They suggest, “employers need to evaluate the process they are using to select, develop, and train people in management or supervisory positions.

Helping in Career Development

The majority of employees want to develop and advance in their career. This is especially likely to be true when it comes to top talent. If people aren’t able to do their job properly, they won’t stay in that position for long. Training and developing an employee shows workers that their employer is willing to invest in them. Costly training isn’t always necessary. In many cases, companies already have experts on their staff that can train employees. This does two things: it provides the trainer with recognition and a development opportunity, and it gives trainees a chance to learn new skills and information.

Having a Flexible Work Environment

In 2013, The Australian Bureau of Statistics pushed through the Flexible Working Environment (FWE). That same year, a change in the office environment and supporting policies and guidelines were first trialled.

Over the past years, a focus on -People, Place and Technology which are the three key contributing factors needed to build a flexible workforce, has seen a positive cultural shift in flexible working attitudes.

Nowadays,workers are looking for employers that acknowledge that they have responsibilities and interests beyond their job. Employees appreciate benefits like flextime, job sharing, telecommuting, and modified schedules. When used appropriately, these benefits can do a lot to boost employee retention. FindLaw has an article on this subject that goes over some of the benefits and drawbacks of telecommuting.

It’s also crucial that workers have choices and flexible options. It’s important to remember that not all workers are going to be motivated by the same thing. Parents may be interested in on-site child care. Single adults might be drawn to fitness centres or gym discounts. Other workers might want a company phone or car. It’s becoming increasingly common for companies to do away with rigidly defined categories when it comes to time off work. Instead, businesses are offering flexible policies that allow workers to take a day off when it makes sense for them.

Being a Good Listener

clip_image004

If you listen to your workers, you won’t need to wonder what they want. They’ll tell you. Surveys, suggestion boxes, and exit interviews are all excellent ways to get more information about what employees are looking for. Any company that does conduct exit interviews will want to take the time to analyse these interviews. This can help a business to determine where changes need to be made.

Seeking Legal Assistance

When it comes to job retention strategies, companies can’t take a one-size-fits-all approach. If you have questions about human resources management, you may want to consult with an attorney that specialises in employment law.

Filed Under: Business, Finance Tagged With: Credit, Financial plan, Loans

Tax Talk: How to Handle Taxation as an Australian Business Owne

February 24, 2020 by Reporter Leave a Comment

tax time australia

Taxation is one of those things that most of us dread. Let’s face it – it’s not the most fun of activities and requires a great deal of accuracy. If you are a new business owner, sorting your taxes out for the first time can be an incredibly daunting experience. Thankfully, today we’re here to guide you through all the steps you need to take as a small business owner when it comes to handling your taxes. Read on to find out more!

  1.    Do Your Research

The best thing you could do for your business taxes is to do your research. Do you know other business owners? Why not ask them for tips or guidance on how you can go about sorting your business taxes in the easiest and most efficient and compliant way possible. We also highly recommend looking up various Australian tax invoice templates to get a rough idea on how you should go about organising and preparing your small business taxes.

  1.    Ensure You Are STP Compliant

As of 2019, all businesses in Australia are required to be STP compliant. STP, or Single Touch Payroll, is a system that was introduced by the ATO in 2018. STP requires business owners to send employee payroll information including wages, salary, superannuation and PAYG withholding to the ATO on a payment-to-payment basis. Previously, employers only needed to do this on an annual basis. Ensuring that you are STP compliant is incredibly important in order to not land your business in hot water or accrue fines from the ATO.

  1.    Keep Strong Records

Keeping strong records is always recommended to any business owner as this allows for ease of filing taxes at the end of the financial year. It is never too early to start keeping records, and we highly recommend utilising various software such as payroll software, invoicing software and so on to ensure that your data is as accurate as possible. Most software can now integrate with one another (including automated STP software), ensuring that your processes are automated and kept complaint at all times.

  1.    Get On Those Deductions

It is always recommended that small business owners claim as many appropriate deductions as they can. This can include costs for utilities, rent, legal services and repairs for your business. It is also recommended by experts that business owners pre-pay for these expenses if possible, in order to bring forward as many expense deductions prior to the July 1st deadline. Always remember that anything deducted has to be directly related to earning your business income and that you have full and in-depth data on how you have calculated these costs.

  1.    Get Superannuation In On Time

The golden rule is to always get your superannuation in on time and before the 30th of June. Failing to do so will result in the loss of your opportunity for a deduction. Always remember that superannuation needs to be paid to your staff 28 days after the end of each yearly quarter. Failing to meet these guidelines will result in you losing your eligibility for tax deduction.

  1.    Utilise Income Tax Offset

The income tax offset can see you shaving up to $1000 off your taxes if you earn a revenue of under 5 million dollars annually. At this moment in time, the offset is set at 8% of tax payable, but it is estimated that this figure will grow up to as much as 16% over the next decade or so. This offset applies to sole traders and micro-business owners and is an incredibly helpful resource and tool for new business owners.

_____________

Handling your taxation as an Australian business owner needn’t be a stressful or miserable task. We hope that the tips we have brought to you today have assisted you in further understanding the process of sorting out your business taxes.

Filed Under: Australia, Finance, Small Business, Superannuation, TAX Tagged With: Budgetting, Financial plan, Tax laws

5 Steps to Win a House Competition in Australia

March 24, 2019 by Reporter Leave a Comment

Winning a dream house is a thrilling experience. Just imagine owning your dream house overnight by simply buying a prize home ticket is pretty exciting and daring. Most people end up losing because there has to be only one winner who takes the prize home.

winning a brand new house lotto

Here are some of the tips that you can apply to increase your chances of winning a house competition in Australia:

1. Identify a Currently Active House Competition

Most house competitions are usually advertised on television and newspapers. You can also do a web search about the house giveaways and lotteries currently active in Australia.

Go through all the dream home lotteries and choose the one that suits you. You can choose the one with the best offers such as bigger homes in safe neighbourhoods or even an extra car.

You can also decide on home lotteries that support charitable causes to avoid feeling hurt when you lose in the contest; You will comfort yourself by being convinced that your money ended up saving lives.

2.Conduct Background Searches About House Competitions

You must first confirm a competition’s legitimacy to win any lottery. Some house competitions are not authentic and end up robbing people who take part. You must, therefore, confirm if it is authenticity before proceeding to buy a prize home ticket.

Visit their website and consider the source of information about the tickets. You should also investigate whether there have been complaints against the sponsoring company. Ask your colleagues about the legitimacy of the home ticket competition. One of a reliable organisation is these prize homes at yourtown, where you can win a prize home and support young people and families in Australia.

Add words like ‘Scam’ to the name of housing competition when doing a web search to see if the competition is not as authentic as it presents itself. By doing all these things, you reduce the chances of losing money by buying a ticket for a competition that is not legitimate.

3. Check the Rules to Avoid Being Eliminated

Breaking rule is the fastest way to get disqualified from any competition. To increase your chances of winning the dream house, you must strictly follow all the instructions about the competition. You need to read all the guidelines at least twice to avoid missing out on essential rules that could kick you out of the contest at an early stage.

Give all the details required to take part in the competition. If they need your full names and date of birth, then present the details.

4. Purchase Your Prize Home Tickets from Different Places

If the house competition allows you to buy multiple tickets, your chances of winning are high. Some people believe that buying tickets from different people and locations can increase your winning probability. Buying multiple tickets in this manner prevents you from having consecutive numbers. Therefore, your winning chance is high when you have different ticket numbers. So if you want to win a house, please try this trick; you never know if you will win.

5. Read the Guidelines to Check for Additional Ways of Winning

Thoroughly review the guidelines and information provided about the competition. You may notice an extra means of winning your dream house from these guidelines. You can also get more tactics by visiting the websites of companies promoting the house competition. Read the section on how to enter the contest in such websites because you may discover additional entries that may increase your chances of winning.

The secret to winning a lottery is the same in all kinds of competitions whether you want to win a car or a house: buy as many tickets as possible from different sites and locations and stick to the rules of the competition. Go ahead and give it a trial; you might win a dream house and become a homeowner sooner than you expected!

Filed Under: Lifestyle, NT, Perth WA, Property, Sydney, Victoria, WA Tagged With: Financial plan, Home loans, Property

Can Seniors Benefit From Insurance In Australia?

January 16, 2017 by Reporter Leave a Comment

old lady insurance deal for seniors

Life has never been predictable. It does not matter if you are 20 or 65 years old, you will still be clueless about what is around the corner for you. The last thing anyone wants to do is have their loved ones drown in bills because they got terminally ill, leave the world by being a burden on their family which has to bear the funeral expenses, and become financially unstable because they were dependent on you.

However, the good news is that older people are eligible for life insurance; in fact, 2 in 5 Australians get life insurance because they are getting older. Even when you build up a nest egg over time, life insurance makes sure that your family does not have to deal with such sudden costs.

 

What is the Eligibility Criteria for Seniors?

Life insurance for seniors is available to most Australians as long as they do not suffer from any serious medical condition. In many cases, you may be required to take a medical exam or have blood tests when filling out the insurance application. But this is not different from the process that you would have had to go through had you decided to get life insurance earlier in your life.

 

The Perks of Getting Insured as a Senior

You probably get to hear a lot about how premium costs are low when you apply for insurance in your 20s and 30s, but there are some advantages to applying as a senior as well. According to Australian statistics, you have a 1 in 3 chance of developing a serious medical condition before you reach 75 years of age; if you are a woman, there is a 1 in 4 chance of that. You also have the same odds of developing a disability.

However, many people who get ill realize that they opted for the wrong insurance plan, the one that does not suit them at all. People who opt for life insurance earlier in life opt for a plan that seems good enough when they have no idea how their life would turn around, and whether they would need medical insurance more than life insurance or a mortgage protection plan.

When you are old enough, you start figuring out the things that could provide you with a bit of security and would give you immense peace of mind. This is exactly why applying for insurance plans in your old age is highly favoured and is a smart move. There is always convenient funeral insurance product to help you safeguard your family’s future.

It is possible that you are leaving behind kids who are too young, or a spouse that you don’t want to go through any financial hardship. In this case, you should go for life insurance if you feel you do not want to burden your family with the cost and expenses associated with arranging a funeral.

Filed Under: Australian Tagged With: Business, Financial plan, Insurance covers

Risks and Rewards: Eight Essentials for Planning Your Financial Future

October 11, 2013 by Reporter Leave a Comment

Life is inherently risky. You know this. That’s why you need a financial plan, but making a plan is boring. You have to sit down and think about all of the things you don’t want to think about – money, death, taxes, some far-off future retirement. It’s hard enough to know what’s going to happen next week. How are you supposed to make a 30 year plan? It’s true – it’s hard. But it’s not difficult, and the price of stalling could put you in an early grave.

Finance risk and reWARDS

Invest In Yourself

The most important thing you have to do is reorient yourself. Instead of focusing on other peoples’ needs and wants, you must focus on yourself. At its heart, financial planning is about you – your needs, your wants, and the financial requirements of your life.

To succeed, you absolutely must invest in yourself. Your earning capacity as a productive individual is your greatest asset, so make sure you’re on the right career path. If you’re not, consider hiring a mentor or life coach to help you sort it all out. It’s important. If you don’t get this first step right, nothing else matters.

Live Within Your Means

It seems obvious, but how many people do you know have credit cards that they’re making payments on? Credit cards are lines of credit. They’re really designed to be paid off in the same month that you make the purchase. That’s why they almost always come with really high interest rates. It’s to encourage you to pay off the balance quickly. Sadly few people do this. Learn a lesson from those people. If you’re one of those people, stop. Pay down the credit cars ASAP, and create a written budget.

Don’t spend more than you make. It really is that simple.

Buy Life Insurance

 

Companies like Wealth Smart specialise in selling life insurance products – something you absolutely need. Life insurance isn’t fun to think about, but it’s necessary. Even if you don’t have a lot of expenses right now, odds are you will. Life insurance also isn’t just about covering immediate needs. It’s about covering lifetime needs. This is something you really need to talk with an insurance professional about. Make sure you understand all of your financial responsibilities, and buy enough life insurance to cover everything now and in the future.

Be Cautious About Chasing Yield

Investors often get caught up in chasing yield. Even many financial advisers do this to their clients. It’s always about finding a bank CD that pays more, a stock with a 2pc higher dividend, a bond with better interest yields. Don’t get caught up in that game. Why? Because yield isn’t something you have direct control over. The only investment that guarantees a yield is fixed interest. Even then, the guarantee isn’t what you might think it is.

It’s a guarantee stipulating that if an institution is going to pay, it will pay the stated rate of return. The guarantee is never, and can never be, a direct guarantee on rate of return.

The one thing you can control are your own actions – namely your savings rate. Instead of chasing yield, focus on saving more of your own money.

Keep An Eye On Expenses

A general rule of thumb is that you should never spend more than 40 per cent of your income on debt expenses. A better way of thinking about this is that you should always make purchases based on value to you and your family. For every purchase, you should be able to justify how it benefits you both in the short-term and in the long-term. If you can’t justify it, especially in the long-term, it’s probably something you shouldn’t be buying.

Start An Emergency Fund

An emergency fund protects you from the unexpected. But how do you plan for something like that – especially when it is, by definition, unexpected? Basically, you should save up at least a month’s worth of expenses and then go from there. After you’ve saved up enough to cover a month’s worth of expenses, take an average of the total cost to replace all major appliances and critical systems in your home and for your vehicle.

For example, take an average of the cost to replace your furnace, your appliances, major repairs on your vehicle. This should give you a target savings goal to work on. Once you’ve achieved that goal, build on it and keep adding money to the stockpile.

Start Saving Now

The best time to start saving for retirement was yesterday. When it comes to long-term savings, time is always against you. Even if you have only $100 to save, save it. Do something.

Pay Attention To Taxes

Taxes are a huge drag on your finances. Don’t underestimate the power of consulting with a tax professional every year. Usually, tax planning begins at the beginning of the year – not when it’s time to file your taxes.

Jessica Watts is a financial planner at Wealth Smart with several years under her belt. When she gets some free time, she likes to share her insights by posting on a variety of blog sites.

Filed Under: Business, Finance Tagged With: Financial plan, Rewards, Risk

Primary Sidebar

Search

Like us on Facebook

Our Twitter Feed

Tweets by @AusBizChannel
Protected by Copyscape Website Copyright Protection

Counter

Footer

Featured Page

research in australia

20 Top Research Organisations

We are compiling a list of top 20 and more research organisations  which are in the government as … Read more about 20 Top Research Organisations

acquistion

Takeovers & Mergers

List and updates Of the latest  Company Takeovers … Read More about Takeovers & Mergers

funding from govt 2017

Australian Business Grants

Establishing a business anywhere in Australia … Read More about Australian Business Grants

listing directory australia

Australian Business Directory

If you are looking for a Free or paid listing on a … Read More about Australian Business Directory

About

About - Australian Business Report and … Read More about About

Guest Post for us

Join Australian Business … Read More about Guest Post for us

Copyright © 2025 · News Pro on Genesis Framework · WordPress · Log in