Starting Your Own Business - Afraid to Take the Chance?

It really is never too late "to have a go". We recently read an article on Yahoo Finance about an 89 year Grandmother in America, known as "Grandma Pearl" who has started her own "spring collection" of "Happy Canes" - a range of designer walking sticks. Grandma Pearl was apparently bored of her old fashioned canes, so started decorating her own to match her outfits. A simple, sweet and novel idea you might think?

Well, when a family friend recommended that she launch a campaign on Kickstarter to roll out her idea she was delighted, and according to Yahoo, "it looks like it'll be a success too, with last check showing her 96% of the way to reaching her target".

Still afraid to take that chance? Why are you waiting?

Carbon Tax Effect on Your Business

The Carbon tax comes into effect on 1 July 2012.

Recent surveys by MYOB show that most small businesses are ill-informed on what the start of Carbon tax means to them, with a significant percentage thinking that it will have a negative impact on their business.

Actually, to most small businesses, getting used to this tax is going to be a whole lot easier than when GST came on stream. Like GST, it is a "flow through" impost where costs will flow through to end users, with the aim of creating financial pain associated with using goods and services derived from a "polluting" industry. However, for most businesses there will be no extra compliance type paperwork.

Hitchhiker's Guide to the 2012 Federal Budget

The Labour Government has been giving us a flavour for its budget over the last few weeks so there were no real surprises, but there was lots of shuffling of dollars and issues. At the highest level, Wayne Swan's fifth budget promises to deliver a surplus of $1.5 billion in the year 2012/13 with budget savings estimated at $33.6 billion. The cost savings appear to come from reduced government spending across all departments and portfolios. The main winners are likely to be lower income earners, families and the elderly, the losers being high income earners and business. Unfortunately, not just big business but many small businesses as well, with the previously promised cut in Company tax from 1 July 2012 now not eventuating. The previously announced measure to cut 1% off the tax rate for small business in 2012 and 2013 for big business appears to be gone as permanent basis, this perhaps being the biggest surprise and disappointment of the budget as it was promised as being funded by the mining tax (which of course will go ahead).

What Did the 2011 Federal Budget Mean For Businesses?

Overall I think it can be said that the budget compared to earlier years was relatively mild, with few surprises. This has since been overshadowed by the Carbon Tax debate where the Gillard Government has made a complete turnaround on this issue. However, their budget confirmed a range of previously announced tax, superannuation and social security policy changes. Job seekers and businesses that offer training and placement services are the winners. Apprentices benefit by expanded mentoring programs and working age pensioners get a Work Bonus.

Impact of the Carbon Tax on Small Businesses

Just when you got over the hump of the end of financial year, our politicians heat up the debate on the introduction of carbon tax. On July 11th Prime Minister Julia Gillard announced a carbon price of $23 per tonne to begin in July 1, 2012, rising at 2.5% a year. This will be paid by Australia’s 500 largest polluting companies. Big business is already saying that this will affect their ability to stay competitive. However, it will be challenging to work out what this means for small and medium sized business in Australia. Will these businesses be impacted by the tax and if yes how?