Welcome to the Porters CA Blog.

Please enjoy our regular blog of relevant business, taxation and financial information. You can also follow us on Facebook, Instagram and Twitter.

Cash Flow Advice for Small Businesses

Solid cash flow management is vital to ensuring your business survives and thrives but not everyone understands what cash flow is or how to manage it. That’s likely what makes it a leading cause of stress for small business owners. Cash flow refers to the movement of money into and out of your business. It is based on the amount of money you bring in minus the amount you spend.…  Read more

Build an Effective Financial Plan for Your Business

Every business needs a financial plan. Your financial plan gives you a way to monitor and review your cash flow, make adjustments to your spending and anticipate potential financial issues. A financial plan can also help when requesting funding or finding investors to bring more money into your business. Although many business owners are aware that financial planning is important, it is often overlooked or put off for another day.…  Read more

Millennials Making Money.

Your 30s are an exciting time. You’re typically making more money than you were in your 20s and you’re looking to the future to determine the type of life you want to live. Your 30s are also a great time to take control of your finances, so you have more security and flexibility in the coming years. Here are 5 financial tips to follow in your 30s, to help you…  Read more

Grow Your Family Business While Preserving Family Relationships

Family business owners often share a similar goal – to grow the business and pass it on to the next generation. While keeping the business in the family and getting to work with your parents, siblings, or children can be rewarding, managing and growing a family-owned business isn’t without its challenges. Conflicting views on business and family matters such as succession of power, rivalry, favoritism, and disposition of assets often…  Read more

Preparing for the end of JobKeeper

Since the government announced the $70-billion JobKeeper program to support businesses and their employees, many businesses have relied on the scheme to stay afloat. Others have been grateful for the cash boost that made the way for smoother sailing. Phase one of Jobkeeper comes to an end on 28 September and not all businesses are eligible for the next relief package. According to a recent survey by the Australian Institute…  Read more

Adapting your business is just good business.

Tips to Adapt Your Small Business During the Pandemic As COVID-19 continues to impact the way businesses operate and consumers shop, many small businesses may struggle to stay afloat, let alone thrive. Below are some of the simple, yet effective, ways on how you can build a stronger brand, earn more sales, and survive in these uncertain times. Showcase locally-made products Now, more than ever, consumers want to buy from…  Read more

Do you have more questions this tax time?

What a year! We don’t need to tell you that this year has been “unprecedented”. With so many stimulus packages, support programs, tax changes and business shutdowns this financial year is set to be like we’ve never seen before. Oddly enough, amongst all the upheaval, rarely have we felt so enthusiastic about the opportunities for people and businesses who are open to new ideas and who are looking for guidance…  Read more

How to build a cash war chest when money is tight

Your “war chest” is the financial reserve your business has built up. Your war chest helps you take advantage of opportunities or cover unexpected costs or emergencies such as the current Covid pandemic. Building a cash reserve when finances are tight, however, can be difficult. You need money to continue running your business while attempting to keep your reserve account healthy. To begin you should download a cashflow scenario planner…  Read more

Cash flow – Where does the money go?!

Join the small business train. You’re working all hours, making sales, invoicing clients but it seems that all of us ask the same question, “Where does all the money go?” When you own a small business, it’s vital you understand how money flows into and out. At a basic level, you need to know where your income comes from and what your expenses are. At a deeper level, knowing how…  Read more

Is DIY bookkeeping holding you back?

Small business owners can enjoy diversity and job satisfaction by being involved in all aspects of their business. Involvement in all areas of your business allows you to use a variety of skills which challenge you and keep work interesting. Very few operators however, enjoy doing the books. Many business owners do their own bookkeeping under the assumption they will save money. Time spent on the books is less time delivering…  Read more

Boosting The Social Proof Of Your Online Business

Having an online business presence with an effective website and social media pages is essential for today’s consumers. You won’t build a loyal customer base if you can’t earn your visitors’ trust, which is why companies value social proof so highly. Social proof isn’t a new concept, or one that only applies to social media. It’s a psychological phenomenon. In online terms social proof is how others view your business based on…  Read more

Perfect is the Enemy of Progress.

Do you have a strategic plan which is going nowhere fast, revolving in your head or waiting for the right staff member or business conditions?  It’s time to get started at brilliant.  Even quite good with a passion for continuous improvement will see you progress at startling speed. Perfect is the enemy of progress. Waiting for the perfect plan and conditions will guarantee missed opportunities and stagnation. Will it work…  Read more

Business Planning- Why your business needs you to say no

So many opportunities and limited resources to take them on? This is the plight of many business owners wishing to embrace opportunity and grow their potential. The most difficult decision is knowing which opportunities to embrace and which to set aside. Not every opportunity will be right for your business. Equally, an opportunity may be right but the timing is all wrong. Over-commitment, especially when taking on projects that don’t actually…  Read more

Proudly Supporting WA Business Award Finalist – Rick Fenny

      Proudly supporting WA Business Award 2018 Finalist Rick Fenny WA’s own Desert Vet, Rick Fenny is a finalist in the 2018 West Australian of the Year Awards on Friday night. We are privileged to support such a dynamic and diverse Western Australian business. All of us at Porters CA wish Rick the very best in the Western Australian of the Year Awards 2018. Dr Fenny, who is…  Read more

Main Causes of Stress for Business Owners & How to Counter Them

Many entrepreneurs believe that hard work and dogged determination are all it takes to build and sustain a successful business. But when you consider the pressures of running a company, it seems wise to add effective stress-management to the list. Left unchecked, stress can erode your passion and undermine performance – not to mention, take a serious toll on your health. Research compiled by Office Vibe reveals that over 70%…  Read more

Do you share this habit with the world’s most successful business leaders?

What do Warren Buffet, Bill Gates, Mark Cuban, and Arianna Huffington have in common? All of these smart, savvy, successful business leaders share a passion for self-improvement through reading. If you want to improve your skills as a business owner, why not spend a bit of time each day reading books that guide you to greater success? This reading list of 4 inspiring business books will help you get started:…  Read more

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