7 Common Employee Onboarding Mistakes

While most small businesses spend a great deal of time and effort in finding the right employees, they often fail to capitalise on their newly hired talent by ceding the onboarding process to HR or neglecting their responsibility entirely. From long waits for workspace, equipment, or training to an overly negative recitation of ‘don’t do these things or you will be fired,’ employers consistently miss the opportunity to inspire new contributors…  Read more

Protect Your Small Business from Cyber Attack

Many small business owners assume that cyber attacks only happen to big companies, banks or governments. But the truth is, limited knowledge of digital security and lack of defences make small businesses particularly vulnerable to attack. Research shows that 71% of all cyber attacks happen to businesses with less than 100 employees – and yet many CEOs have yet to invest in a formal defense plan. With cyber attack insurance…  Read more

When You Should Consider Hiring a Business Lawyer

When you run a small business, every cent counts. It can be difficult to spend money on anything you don’t consider vital. Hiring a lawyer during key times in your small business might seem like an unnecessary expense, but the money you spend now on a business attorney could save you time, money, and energy in the long run and could protect your business. When it comes to your small…  Read more

Tips to Keep Your Business Finances in Order

If you’re like most small business owners, you spend the majority of your time managing daily operations, keeping customers happy, and looking for new ways to grow. Spreadsheets, cash flow analysis, and financial projections are probably not your first passion. However, measuring profitability, creating realistic budgets, and planning ahead for the future are crucial to your professional success. Follow these four tips to get a handle on the numbers, and…  Read more

5 Reasons Your Business Needs Facebook Ads

Facebook ads are a great way for small business owners to get involved in online advertising. Compared to competitors like Google AdWords, they are easier for beginners. Here are five reasons to consider using Facebook ads. Targeting Facebook ads allow you to target specific demographics. You can target campaigns based on age, sex and location to place your ads before the right audience. Facebook uses members’ interests, the pages they…  Read more

Why Your Business Might Not Look Like a Winning Bet to Investors

Have you had a potential investor turn away from your business for seemingly no reason? Investors don’t usually turn away from good opportunities so was there something that made your company or business plan unappealing? Here are six reason businesses makes themselves unattractive to investors. 1. There’s No Proof of Concept You can find good ideas everywhere but only a few of those ideas will actually end up profitable for everyone…  Read more

8 Common Problems New Freelancers Face

Freelancers in all industries deal with the same problems due to the nature of their work.  Typically, freelancers are solo work-from-home contractors that manage every aspect of their business.  If you’re thinking of dropping your career as an employee to begin freelancing, consider the following obstacles you will need to navigate.  Unfortunately, problems beget more problems, and a shaky foundation quickly leads to a crumbly business, and many regrets about…  Read more

What to do if you get audited

No business owner looks forward to a letter from the taxman requesting a closer look at the books. If you’ve received an audit letter – an official request by the tax authority to review your accounts and confirm your taxes have been paid to date – don’t panic. Prepare. These four steps will help you get through the process with minimal stress and the best possible outcome. Respond promptly If…  Read more

Are You Falling Behind By Not Automating These Business Activities?

The daily processes and transactions involved in operating a business can mean long hours of repetitive tasks and occasional oversights due to human nature. Automating these tasks can result in significant savings in resources and eliminate mistakes caused by human error. The key, however, is to know which tasks should be automated and which ones warrant staff intervention and guidance. Let’s take a look at some of them. Here are…  Read more

How to handle maternity and paternity leave

“Competitive advantage” may not be the first words that come to mind when you think about employees requesting parental leave. For young professionals, however, the option to enjoy time with their new additions can be a very attractive perk – more attractive than health insurance, pensions, and the retirement packages large companies can offer. If attracting top talent and nurturing employee loyalty are important to you, read on. This article…  Read more

Five Best Selling Books on Business and Money

Bookstores and libraries around the world supply excellent instructional materials. Riding in the car or commuting on the train, you can learn from experts. The bestseller lists at Amazon are fantastic resources. The lists are updated regularly with current insight about the best books on the market. Have a look at some of the best books on business and money currently on the Amazon list. The Millionaire Next Door Thomas…  Read more

3 Mistakes That Strangle Growing Businesses

Businesses want to grow and help a larger audience, but too many make mistakes that cripple their growth. Even worse, they keep repeating them! Don’t do the same; avoid the blunders outlined below. Hiring Toxic Personalities Businesses hire more staff as they grow. But if they expand too quickly, they will feel pressure to fill positions on their team, even if the job candidates have a few personality flaws. While…  Read more

How to protect the goodwill in your business

It takes time, energy, and continuous effort to build a brand that attracts loyal customers and is rewarded by word of mouth referrals. Without a doubt, the good name you worked so hard to earn is one of your most valuable business assets; in addition to your solid customer base and positive employee relations, it is what is known in business as “goodwill.” If you’re like many small business owners,…  Read more

Tactics for paying down debt faster

Very few business owners have the means to operate without borrowing at start up, or later on when it’s time to invest in growth. Borrowing, however, is only a temporary solution to a lack of funds. Without a repayment plan debt can grow into an unmanageable problem that costs much more than the initial loan. These strategies will help you re-pay your debt faster, so you can invest the cash…  Read more

5 PayPal Alternatives to Send and Receive Money Online

PayPal is the world leading online payment service. You can transfer money to and from your bank account, pay for goods, and even receive payments worldwide. It’s a useful tool for entrepreneurs, freelancers, and even for personal use. However, it does have its drawbacks. PayPal takes a significant chunk of money when it comes to converting and billing international payments. You could end up losing about 5% of your cash…  Read more

How to learn from failure in business

Ask any successful entrepreneur about their path to greatness and you’ll get the same answer: failure is an inevitable part of the journey. It took Thomas Edison 1,000 failed attempts before he finally invented the light bulb. Tim Ferris received 25 rejections before his bestselling book, “The 4 Hour Workweek” was finally published and sold millions of copies. It’s a fact that 20% of businesses fail in their first year…  Read more

Support our farmers

Farmers in the Eastern States are battling the worst drought they have experienced in the last 100 years.  Farmers are the backbone of Australia and need our help. Arrant Accounting Solutions prides itself on supporting Australian small businesses and have joined the fight to help our farmers. Let’s support our farmers in their time of need – every little bit helps. How can you help?  Easy!  Visit one of the…  Read more

Similarities and differences between a bookkeeper and an accountant

They both work with financial data; they’re both essential for managing a successful business. Yet the roles and duties of a bookkeeper and accountant rarely overlap. If you’re like many business owners, you may not be exactly sure of the  differences between a bookkeeper and accountant – and whether you should hire one, or both. An established, growth-focused company will employee the services of both an accountant and bookkeeper. The two…  Read more

Avoid These 5 Costly Accounting Mistakes

A Canadian bank recently surveyed over 500 small business owners about what they love and hate most about owning their own business. Unsurprisingly, flexibility and feeling in control ranked first in the “love” category. Meanwhile, almost 60% said bookkeeping was hands-down their most hated task. Most business owners understand that effective financial management is key to their success. But lack of knowledge, frustration, and even avoidance can add up to…  Read more

Get more productive with a systemised business

As a business owner you want your business to be productive; and that productivity stems from your operational processes being as efficient as possible. Many businesses are let down by their current operational systems, with poor documentation of tasks, outdated software and processes that have grown organically over time without any overriding thought for how they work as a wider system. To get the most from your business, you need…  Read more

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