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Understanding Fixed, Variable, and Semi-Variable Business Costs

Running a business involves managing various types of costs. Understanding these costs is crucial for effective financial planning, budgeting, and decision-making. Business costs can generally be classified into three categories: fixed, variable, and semi-variable. Each type has its own characteristics and implications. In this blog, we will explore these categories in detail to help you […]

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How small businesses can navigate the holiday season amid economic uncertainty

With the 2024 festive season around the corner, many Australian small businesses are facing several challenges, including cost of living pressures, high operating costs and changing consumer behaviour. However, among the hurdles, the holiday period also offers opportunities. Here are some key strategies and insights for small businesses looking to maximise this potentially critical season

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Why good budgeting is crucial for small businesses – and how to create one

Business failures are at their highest rates since January 2021 as low levels of consumer spending, high inflation and interest rate increases put companies under increasing pressure, according to CreditorWatch. Considering 97.2% (2.59 million) of Australia’s businesses are classified as small businesses, it stands to reason that they are most at risk. The commercial credit reporting bureau’s August

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How does the unemployment rate affect my business?

Unemployment and underemployment are key economic factors that impact small businesses from consumer spending to hiring challenges. Understanding these concepts can help business owners make informed decisions in an uncertain economy. Currently, Australia’s unemployment rate is 4.2%. High unemployment reduces disposable income, leading to lower sales and revenue for small businesses. Conversely, when more people are employed,

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