Well, in the words of Stephen Covey (7 habits of highly effective people) , begin with the end in mind:
Read MoreTopics: Business Planning
Over the next couple of months, I am going to write a lot about the importance of succession planning.
Small businesses, especially those operating in regional locations across Central Queensland need to have clear succession plans in place in order to help them achieve financial independence.
With the tough economic climate in Central Queensland’s, the time to plan for your future is now, not later.
Read MoreTopics: Business Planning
A lot of businesses in Gladstone are prepared, sure.. but just as many are not ready for the up-coming end of financial year.
Read MoreTopics: Business Planning
We’re already preparing for and predicting some changes to be announced to the treatment of superannuation tax concessions in this year's budget. I’ll be hosting a luncheon next month to discuss what the budget might mean for small and medium businesses in Central Queensland and beyond.
Add to that the fact that the Australian Tax Office (ATO) has just released two new rulings in relation to Related Party Loans and it quickly becomes evident that it’s time to review and plan your Self Managed Super Funds (SMSF) to ensure you will be compliant.
So, what can you be doing right now with your SMSF Related Party Loans to pre-empt budget announcements and adapt to ensure you are working within the framework of the ATO’s new changes?
Read MoreTopics: Superannuation
I’ve written about business planning and how failing to plan is planning to fail. This week I want to write about a very important element of business planning… the Financial Forecast.
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