There are big changes afoot that will completely turn upside down how we currently process invoices.  The ATO are working with the software industry to implement the internationally recognised standards of Pan-European Public Procurement On-Line (PEPPOL).    Once implemented this will allow software systems to talk to each other.  It won’t matter that you use […]

Pareto Principle – use it to dramatically grow your business    The Pareto Principle or the 80/20 rule states that 80% of the effects come from 20% of the causes.  It was named after an Italian economist, Vilfredo Pareto for his work in the 1890’s when he found that 80% of the land in Italy was held […]

  It is possible to have a profitable business and cash flow problems.  It is also possible to have an unprofitable business and no cash flow problems.  Cash flow and profit are two different financial indicators and when operating a business you need to track both. Cash flow Cash flow is the money that flows […]

  Chasing the Unprofitable Sale   Google “how to increase sales” and there are about 924,000,000 results.  Google “how to avoid an unprofitable sale” and there are about 2,340,000 results.  Avoiding the unprofitable sale is just as important as increasing sales. Every business wants to grow but you don’t want to “grow broke”.  Before embarking […]

  The Real Cost of Free Shipping According to a UPS study, free shipping continues to be the most important factor driving customer satisfaction when checking out online (73%).  Consumers are willing to pay a premium for faster delivery.  For personal reasons, such as birthdays and holidays, 50% of consumers will pay for faster shipping. […]

  Understanding the typical entrepreneurial journey can help female business owners make conscious and strategic decisions about their business.  There is no right or wrong size of business as it’s up to each individual as to how big or small they want their business to be. Solopreneur/Hobby – $0 to $100,000 Often many business owners […]

In labour intensive businesses (i.e. where human capital is more important for generating revenue as opposed to physical assets) it can be difficult to determine your selling capacity. Have you been in the situation where employees are asking for more human resources yet you aren’t making enough money to cover additional wages? How do you […]

The next biggest compliance change for small business since GST is now law. From 1 July 2019, Single Touch Payroll (STP) will be compulsory for all employers in Australia. STP requires employers to report to the ATO their employees’ tax and super information within 24 hours of payment. This will give greater transparency to the […]

MYOB AccountRight Classic will not be supported or updated from 30 September 2019 forcing customers to move to the cloud. To future proof your business, plan for change now.  Enterprise Growth can help you implement paperless and best practice systems. Contact us at hello@enterprisegrowth.com.au