Do you have a business plan, or does it need a refresh?
A business plan is a very important and strategic tool for business owners and entrepreneurs. A good business plan not only helps you focus on the specific steps necessary to make business ideas succeed, but it also helps you to achieve short-term and long-term objectives. Benjamin Franklin once said, "If you fail to plan, you are planning to fail."
The Small Business Development Corporation has a range of online tools and templates which can be easily downloaded to ensure your business in heading in the right direction, such as : Comprehensive business plans, Financial management tools such as cash flow forecasts, costs of goods sold calculator and breakeven analysis calculator Marketing templates and guides |
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Small business advice with fabulous Small Business Financial Councillor Colleen
Q: As a sole trader why should I separate my finances from that of my business?
A: Having separate finances from your business is very advantageous for sole traders.
For the ATO – It's very easy to clarify costs and income all based in the one account which is beneficial for BAS, expense claims and lower accounting/bookkeeping costs Personal expenses can be tracked and planned for without confusion You can see what business income you have very easily If accessing finance or lending you will be able to provide concise income and expenditure statements In the event you experience financial difficulty your options will be easily and more clearly identified It is more professional, as accounts can be opened in the name of your business, adding credibility and legitimacy If disputes arise with charges, or in the unfortunate situation of a scam, a resolution will be more easily established with the clarity of a designated business account. For further advice, check out: Developing your financial processes and procedures Setting up your business banking Why set up a business bank account |
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What do heat and eat pizza and a universal solar and wind array mounting system have in common?
These are the propositions two Cockburn businesses progressed as recipients of City of Cockburn-funded scholarships to attend Curtin University’s celebrated Ignition program for 2021. This is the second year the City has provided the sponsorship to local businesses, following Council approval of $6,500 to fund two places in the 2021 Ignition program which helped businesses prepare fresh ideas for the commercial environment.
Kerry Street Pear Tree and Woodfired Pizzeria in Hamilton Hill and Cockburn-based Onetide Modular Systems were among 12 local applicants for this year’s sponsorship.
Ronald Canty from the Pear Tree hopes to expand a tasty initiative that gained popularity when the café was forced to pivot to a take-away model during the COVID-19 lockdown in 2020.
Rebekah Manley from Onetide said “The universal solar and wind array mounting system would be manufactured locally using novel advanced manufacturing techniques and with a minimal parts count, to enhance sovereign capability through reduced manufacturing costs.”
Business Engagement Officer Sarah Kahle said that previous City of Cockburn sponsorship recipients had found the program inspiring, forging valuable contacts to help progress their innovations.
“Ignition provides an amazing opportunity to spend a week focusing on how to take your business or innovation to the next level, and we can’t wait to see how the community will benefit from the growth of these local businesses,” Ms Kahle said. “Ignition has already generated more than $6m worth of economic activity for WA over 10 years.” |
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Upcoming training for small businesses
Business Foundations are hosting some fantastic business development workshops before the end of the year. Register now to build your capabilities and ensure you're up to date on the latest trends and tools How to successfully automate your marketing activity Branding for digital marketing Cyber security for SMES: How to safeguard your business |
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If you have any queries or would like to get in touch with Sarah Kahle, Business Engagement Officer please email business@cockburn.wa.gov.au or call 08 9411 3444.
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