Dear reader, the story continues in Part 2 of our efforts to lay the foundations of our awesome 2025 growth plans.....
Cashflow: Keeping Your Business Financially Healthy
Cashflow is absolutely essential to any business. It’s how you pay your bills, fund growth, and ride out economic ups and downs. In Australia, managing cashflow can be tricky due to a range of factors like market fluctuations, consumer behaviour, and regulatory changes. Here’s what to consider:
Economic and Market Volatility Even though Australia’s economy is fairly stable, it’s still vulnerable to global shifts, like changes in commodity prices or international trade disruptions. For example, as a major exporter of natural resources, a drop in global demand can hit your bottom line. Plus, rising living costs and interest rates can affect consumer spending, which directly impacts cashflow for many businesses.
Government Support and Financial Assistance The government does step in when businesses face cashflow crunches, like during the COVID-19 pandemic with programs like JobKeeper and cash flow boosts. However, these kinds of support are usually short-term, so you need to stay on top of your financial planning and make sure you’ve got credit or other financing options ready if things get tight.
The Impact of Regulations on Cashflow Australia's tax system, including GST, income tax, and payroll tax, can be a big factor in your cashflow. Keeping track of tax obligations is crucial—mistakes can result in hefty fines and interest. For small and medium-sized businesses, managing GST and payroll taxes can be a real headache, especially if you’re operating across different states or territories.
How are you funding your growth next year? Reach out here - kelby@adaptique.com.au to build your strategy.
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