As businesses grow, you will inevitably need to create new roles and hire new staff. Adding a new member to your team is always challenging; when hiring someone to fill a new position, there is even more pressure to make the right call. Business owners who can allocate workplace responsibilities efficiently and logically stand to…
A casual worker with fixed hours can become a compliance nightmare for payroll, mainly if awards and rates are not applied correctly, especially given the legal definition of the type of employment. Four factors must be taken into account to determine if an employee is in a casual position: Choice: An employer can elect to…
One of the most important decisions you must make before starting a business is in what structure your business will be operating under. This will be reflected in all facets of your business, so you should spend time understanding the implications of each structure before making a decision. Sole Proprietorship A sole proprietorship business structure…
The end of the financial year is the best time to work out the potential debts your business may incur or have already incurred. Businesses can go into two kinds of debt – good debt and bad debt. Determining the type of debt is highly dependent on how the debt has been used for your…
