Tips & strategies to help your business grow

You (Probably) Don’t Have A Tax Problem

A common complaint I hear, mostly from business owners, is they are "paying too much tax".

Why Your Small Business Needs A Forecast

If I told you what your bank balance was going to be in 7 months time. Would you be able to tell me if I was wrong? Are you always a little surprised by payments to the ATO, or super?

Why Work With Mid Tier Accounting Firms In Sydney?

5 min | Nathan Watt

Mid-tier firms sound like they’re the best of both worlds right? Big enough to have a good reputation and some really smart technicians to make sure your accounting and tax is sorted but not as expensive and elite as the big 4. And If you need services like audit, corporate finance or international tax, then taking your business to mid or top tier accounting firms in Sydney is probably best for you.

Why 45% Of Small Business Starting Today Won’t Last 3 Years And What They Can Do About It

5 min | Nathan Watt

It's a staggering statistic isn’t it? Almost every 2nd business that starts this year, won’t exist in just 3 years. If you dig deeper into the data set (which you can find here), you also find that 20% of business fail in the first year! Not even 12 months in, and the business (and the dreams of the founders) are dashed.

Which Business Structure Is Right For You?

A key component to business success is ensuring you have the right legal structure for where you're going. In fact it's one of the very foundations of our 3 step strategy with clients.

Where Do You Start With Marketing?

I’ve been working with small businesses for years now advising them on a wide range of business issues. But it wasn’t until I started Watson & Watt, and got my hands dirty on my own business, that I really had to understand “marketing”.

When Inflation, Wages & Interest Rates Are Increasing, How Much Do You Need To Increase Your Sales By?

The cost of everything is going up. When wages, inflation, interest rates are increasing what does this mean to your profit and what do you need to increase your prices by just to make the same profit?

What your small business should be doing each month

Another month is over, and you’re on to the next one, days and weeks roll into each other and before you know it, the year is over, and you look to the bank accounts to see if you’ve “made any money”. Sound familiar?

What You Need To Do After You’ve Set Goals

Where are you? When running a small business, the most correct answer can be “everywhere”. I get it. I’m not immune to it either.

What Should A Small Business Board Of Advice Be Talking About?

Do you really think “big” companies come unprepared, with no agenda, just having a chat about whatever has been bothering the CEO this last month? I know they have more resources than you, but you don’t need to spend a lot of time or money to get this right. It’s just a bit of planning.

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Tailored tips for your growth

ATO Audit Penalties: What Business Owners Need to Know & How to Avoid Costly Mistakes

5 min | Nathan Watt

Penalties vary based on the nature of the discrepancy, ranging from 25% for lack of reasonable care to 75% for intentional disregard. To minimize risks, maintain accurate records, ensure timely lodgements, and consider professional advice.

Sales Is Not A Dirty Word

One of the biggest challenges I faced in my career as an accountant and business consultant is sales. And if I felt the heat when I was working for other people, it magnified to the intensity of the sun, when I started my own business with no customers.

Liquidation | A Beginners Guide

What Do Lenders Use As Your Income When You’re Self-Employed?

Is your business facing financial trouble? Liquidation is a term you've surely heard, but it's not the only option. Liquidation is used to wind up or end a company, but it's often confused with other options that may have the same or different goals.

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