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Small business advice for End of Financial Year

The end of the financial year is an important and busy time for small business owners. There are so many tasks that have to be taken care of, like:

  • completing bookkeeping
  • dealing with tax returns
  • planning for the new financial year

The good news is that getting your business more organised during each financial year can help you work smarter the following year.

Below is a comprehensive EOFY checklist that includes essential tasks for your EOFY to-do list…

Record keeping and compliance

Some of your yearly responsibilities as a small business owner may include:

  • summarising income and expenses in a profit and loss statement
  • conducting a stocktake
  • summarising your record of debtors and creditors
  • collating records of asset purchases or expenditure on improvements to calculate depreciation expense claims and for capital gains tax purposes
  • completing and lodge your income tax returns
  • lodging yearly reports or returns for PAYG withholding, fringe benefits tax (FBT), Goods and Services Tax (GST), and the taxable payments reporting system
  • meeting SuperStream requirements
Find out what tax deductions you can claim

Do your homework ahead of time to know exactly what tax deductions you can claim when EOFY comes.

You may be able to claim deductions if your business:

  • has a website
  • has motor vehicle expenses
  • uses diesel fuel
  • is home-based
  • has travel expenses
  • uses machinery, tools or computers
Use a registered tax agent

Make sure your tax agent is registered with the Tax Practitioners Board (TPB). There’s no protection for taxpayers who use unregistered tax or Business Activity Statement (BAS) agents.

Keep up to date with tax changes starting next financial year

Every year there are new tax changes you need to be aware of. These might include changes in tax breaks and deductions for small business.

Be wary of tax refund scams

There are a number of scams that target small business around tax time. Here are some of the most common ones:

  • Tax refund scams where the scammer will claim you have overpaid your taxes and are entitled to a refund. However, in order for you to receive this refund, they will claim that you need to pay a fee for administration or transfer costs.
  • Tax owed scams where the scammer will claim that you’ve underpaid your tax and will need to repay the amount you owe immediately. In order to make this payment, they may request your credit card or debit card details, or ask you to send money through a money transfer.
Review your finances

Sit down with your accountant or bookkeeper and review all your finances.

Look at whether you met your targets last financial year and what you can do differently next financial year.

Set performance targets for the year to help you stay on track. Create a cash flow forecast to manage any potential shortfalls and ensure you can still pay your staff and suppliers.

Review and update your business and marketing plans

Take time to set yourself up for the year ahead. Regularly reviewing and updating your plans will help you to:

  • remind yourself of your goals and priorities
  • assess whether your strategies are working
  • adapt to any new changes in your environment
  • make the most of new opportunities as they come your way
  • prioritise and maximise your effort (work smarter, not harder!).
Review your business structure

As your business grows, you may decide to change your business structure. There are different compliance and taxation regulations to doing this, depending on your current business structure.

Find more about why it’s important to choose the right business structure in this article.

Review your insurances

Check that you have the right insurances in place for your business. If your circumstances have changed, you may need to update your coverage level.

Read the product disclosure statements (PDS) for your insurance policies carefully – don’t assume you’re covered! Look up the definition of certain terms (such as floods) as they may vary among insurers.

Backup and secure your files

Backup and store your registration, financial and customer data and other important business documents in a secure off-site location. This can help ensure your business stays up and running during unexpected events.

Get ready for EOFY now!


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Toyota Camry Takes Over


Yep, you read that right. As an Australia first multi-channel campaign for one day only, Toyota took over all six faces of 150 Adshel digital screens giving Toyota 100% share of voice to launch the All-New Camry. This is the first time Adshel’s digital screens have been dedicated to just one advertiser for the day. The high impact creative which features beautifully photographed Camry’s highlighting their new sporty design, bought the campaign’s theme ‘Defy Expectations’ to life by talking to consumers about the All-new Camry in the ideal context – when they’re driving.The Toyota Camry campaign aimed to ‘Defy Expectation’ with a unique activation. Taking over the Pure Gold Network from 6am to 7pm transforming it into a broadcast platform dedicated to sharing the stories of people who, like the All-New Toyota Camry have defied or are defying expectation.

Source: Adshell (April 2018)
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Marketing Tips for Small Businesses

A few smart, cost effective marketing ideas for Local Small Businesses can help you gain exposure and increase ROI on your marketing.

The key to boosting your chances of surviving and thriving is to have clarity, consistency and to make every marketing dollar count by only focusing on opportunities right for your business.

1. Get to Know Your Desired target markets

Eliminate the scattergun approach in your marketing by being clear about who your ideal client is and where you can find them. Spend time to profile your ideal clients. Work out which social networking platforms they use, what they read, what they listen to and what they watch. Start to engage with them on a personal level.

2. Use Cost Effective strategies

Facebook, Twitter and LinkedIn are free, and advertising on them is very targeted and cost effective. Paid ads or sponsored stories on Facebook can provide you with many leads. If you provide something free or something of value that showcases your expertise, you will get people wanting to engage with you. Free publicity is very valuable, gives you credibility and is easy to get if you develop the right relationships, have effective writing skills and remember to follow up.

3. Be Found Online

Get you website optimised using basic SEO practices so that you can be found online by potential clients when they search for words and phrases related to your business. List your business with free online directories like Bloo, Hotfrog, Gumtree and Google Maps or use Google Adwords to advertise your business online.

4. Develop Partnerships

Strategic partners will help your marketing dollars deliver a better result through joint promotions. Your partners should offer services that are complimentary to your business. Ensure they are reputable, deliver on their promises and will add value to your brand image.

5. Test and Measure Your Campaigns

Set up criteria for every marketing campaign you plan and test the results you get. You will see what worked well and what needs to be changed the next time. It can be as easy as just asking the question “How did you hear about us?”

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Is Seo Fruitless If You Don’t Have Adwords Running?

SEO by itself carries a lot of risk, a lack of easily monitored metrics and a general lack of certainty. SEO success is at the whim of Google. Whether it works or not will vary massively based on link building strategy, link quality, link velocity, on-page factors, your niche, your selected keywords and your ability to keep up and adapt to the monthly updates that Google tends to make.

The situations that you want to avoid include  using the wrong strategy and being penalised for that or using a sound strategy but picking the wrong (non-profitable) keywords.

On the other hand, AdWords, whilst generally “more expensive” is inherently less risky. You can track it daily, pull out reports daily, rapidly turn keywords on/off etc. In other words, AdWords is a great way to “test” and “prove” that certain keywords have potential for profitability before going down the uncertain path of running a successful SEO campaign.

As a general rule, if a keyword in Adwords drives sales and/or leads (conversions) then it is safe to assume that an SEO campaign will help you to “win more” and scale up those results by an order of magnitude.

This approach of using both Adwords and SEO also encourages businesses and agencies to focus not just on vanity rankings but also on conversion rate and getting the fundamentals right.

Need SEO help?  Email

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Thinking of marketing on mobile devices

There are around 1.75 billion smartphone users worldwide.

Between now and 2017, mobile phone penetration will rise from 61.1% to 69.4% of the global population, according to an eMarketer report, “Worldwide Mobile Phone Users: H1 2014 Forecast and Comparative Estimates.”

So how do you market your business to this burgeoning mobile user base?

Here are one or two pointers before you start.

The biggest lesson to learn is to not treat the mobile channel as if it is just a smaller version of a fixed desktop display browsing channel.

Here’s why.

Mobile users have access anytime, anywhere to their phone and they are constantly checking for updates on social media, news etc. Always on the go, they get distracted easily and, as a general rule, they want instant gratification from their mobile experience.

So a simple, quick loading landing page or a website that is optimised for mobile devices is a must. If your site or page is slow to load, mobile users will go elsewhere.

If you’ve already got a website with “responsive design” you might think that you are sorted. But it doesn’t necessarily follow that this will work well on mobile. Yes, the user will be able to see your site or page but will the overall experience be one that is suited and optimised to the mobile user? Will your “responsive design” allow the mobile user an effortless sign-up process? Will it offer the mobile user a pleasurable visual experience?

In short, your mobile site layout must be very simple, clean and uncluttered with a clear call to action, ideally comprising a one step process. It must be easy to navigate and quick to load.

Advertising on mobile devices is also different to traditional online display advertising. For awareness-raising and branding advertising campaigns, consider using “in-app” advertising – or advertising contained within an app – as this is where mobile users spend most of their time. This in-app inventory has different specs to traditional online display units, so it is important to think about how to craft these smaller banners, video or rich media units so that they become effective on small screen mobile devices.

It is also important to understand the environment in which a mobile user sees your ad because this will affect how a mobile user digests your ad. As mentioned, most mobile ad networks weigh heavily on in-app ads, so it will be important to understand the app environment before your create your ads.

So if you’re thinking about advertising on mobile devices, do your homework before embarking on your campaign, as there is nothing worse than creating a negative experience of your brand in the eyes of your potential customers.

What do you think?

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What makes a good logo design

What exactly does make a good logo design? We all know a good logo design when we see it and similarly we can identify a bad logo just as quickly. A great logo is unique, appropriate, practical, simple in form and delivers your message.


Your logo should be original and stand out on its own. While it can be helpful to look at your competitor’s logos, you should never use them as a guide to create your own logo. The idea is to be different from your competitors and stand out in a crowded marketplace. You want to have a logo that is better, or at the least very different to your competitors.


Your logo needs to portray the essence of your company. Understanding a particular industry’s ‘theme’ is important, and this is where a designer’s experience comes into play. How the logo is designed should be appropriate for its intended purpose. Are you a serious company such as a law firm, or one that revels in fun such as a children’s store? While a colourful cartoon logo would be appropriate for the children’s toy store, it would not be so appropriate for a law firm!


An effective logo should be able to work across a variety of media and applications. For this reason a logo should be designed in vector format, to ensure that it can be reproduced to any size, especially on the small side. A logo should be able to work both in horizontal and vertical formats. A logo needs to be still effective even if it is printed in only one colour, printed on something as small as a ballpoint pen or something as large as a billboard, or printed in reverse.

Simple In Form.

Keep your logo metaphor simple. While it is nice for your logo to ‘mean’ something, an overworked logo is not a pretty sight and can be problematic to reproduce. It’s no coincidence that the most memorable logos are also the most simple in appearance. You want your logo to be instantly recognisable, acting as a memorable identifier for your business. Normally a consumer will just take a fleeting look at a logo, and an overly complex logo will make that opportunity redundant.

Delivers Your Message.

A logo doesn’t need to show what a business sells or offers as a service. For example, real estate logos don’t need to show houses, computer logos don’t need to show computers. A logo is purely for identification.

“Should a logo be self-explanatory? It is only by association with a product, a service, a business, or a corporation that a logo takes on any real meaning. A logo derives its meaning and usefulness from the quality of that which it symbolizes. If a company is second rate, the logo will eventually be perceived as second rate. It is foolhardy to believe that a logo will do its job immediately, before an audience has been properly conditioned.” Paul Rand*

* Paul Rand (August 15, 1914 – November 26, 1996) was a well-known American graphic designer, best known for his corporate logo designs.

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