Business Advice Agency
The Business Advice Agency (BAA) is on a mission to
provide Australian small businesses with unrivalled
guidance and support.
We offer access to
professional services, resources, and training to help
manage, market, grow and protect your business.
09/09/2024
BAA advocates for injustices forced on small business owners, and one of these injustices is the "Clawback" of Finance and Mortgage Brokers commissions by the banks, should a loan given to a bank (from a broker) close or discharge with 24 months. This represents a $2.85Billion loss to the 19,500 small broker businesses each year. This $2.85b should be going to small business owners, their families and the economy, but instead, it is finding it's way into Bank "already substantial" profits. YOU can help these business owners by signing an online petition to the House of Representatives here - ( https://www.aph.gov.au/e-petitions/petition/EN6484 .) Your voice will help other small business owners and help to create a fairer industry.
e-petitions e-petitions
Cyber Sharks Circle SMEs: The Alarming Rise of Ransomware!
The digital predators once fixated on corporate giants have now set their sights on a new, more vulnerable prey: Small and Medium Enterprises (SMEs). This strategic pivot has left many businesses scrambling to fortify their digital defenses.
A recent ESET report sends shockwaves through the business community, revealing that a staggering 60% of Australian SMEs have found themselves in the crosshairs of cyber attacks or security incidents within the past year. Even more alarming, 87% of these businesses admit they would consider capitulating to cyber criminals' demands during a ransomware extortion.
The digital landscape has transformed into a high-stakes game of cat and mouse. As larger corporations bolster their cybersecurity measures, criminals have adapted, targeting the often less-protected SMEs. This sentiment resonates strongly among business leaders, with 76% acknowledging that smaller enterprises are more susceptible to these digital assaults.
However, SME owners must recognize a crucial truth: paying ransoms is not the solution. It's akin to feeding a stray cat – it only encourages return visits. Instead, the focus should be on proactive defence strategies. By implementing robust cybersecurity measures, SMEs can transform from easy targets into digital fortresses.
The Business Advice Agency stands ready to assist, offering a wealth of information on protecting your enterprise from these cyber threats. Remember, in the digital age, your data is your most valuable asset. Safeguarding it isn't just good practice – it's essential for your business's survival and growth. Visit this good GLOG on Cyber-securing your business. https://www.businessadviceagency.com.au/blog/b/the-importance-of-cyber-resilience-for-businesses-in-todays-digital-landscape
Hey Everyone.... 65 per cent of all outstanding debt being targeted by the Australian Tax Office is from small businesses, with many falling behind repayments. The ATO had “returned to normal debt collection across all markets” in December last year, the amount of collectable debt is now at over $50 billion. (yes - BILLION)
Of this, 65 per cent (or $39 billion) relates to small businesses and 74 per cent of that relates to activity statements. If this is YOU,- BAA can help - just reach out :-)
21/03/2024
Many people in Australia are feeling the financial "Squeeze"? All the people who had savings a year or two ago, have watched those savings slowly dwindle. If that is you, check out this new "finances guide".
“EZ” have put together a great survival guide with some awesome tips to help pull you out of the sh*t. Many of the things in this guide are not widely known, so please , check it out and let your friends & family know. Read through this, then perhaps you can sleep a little easier :-) - Click Here:https://storage.googleapis.com/msgsndr/comh7hC8rNQGw4wrksXl/media/65fbc1d68fbeae5e545888fc.pdf
08/02/2024
Who's feeling the "pinch" with higher prices & Interest rates? If you are in Business, you'll find this "Financial Survivors guide" very handy! Learn some tips and tricks from the experts, to navigate your finances! FREE download - click here - https://business.ezfinance.com.au/financial-survivors-guide-download also, you can PM me if you have any questions about getting business finance or restructuring all your finances to have a smaller monthly commitment :-)
Download Your FREE Financial Survival Guide Get the guide that is helping smart businesses secure finance the EZ way. Book in with our Small Business Loan specialists today!
19/01/2024
Being a part of this group entitles you to some FREE expert business advice from industry experts associated with the Business Advice Agency. Each week, we will be profiling our experts so that you are familiar with what they do and their experience. With no further A-Do,- Meet Noel Currie, a seasoned Business Broker with an impressive track record spanning over 30 years, specializing in facilitating successful business sales across Australia.
Noel stands out as your go-to expert, armed with an unparalleled wealth of knowledge about the market and a proven track record in guiding clients through the intricacies of a successful business sale. With Noel by your side, you can trust that he will not only navigate the complexities of the process but also maximize the value of your business.
What sets Noel apart is not just his extensive experience but also the recognition he has garnered in the industry. He has earned a well-deserved spot on the Business Advice Agency expert panel, a testament to his exceptional level of expertise and unwavering integrity. By choosing Noel as your Business Broker, you're not just gaining a professional to oversee the sale; you're gaining a strategic partner committed to ensuring the success of your business transaction. Benefit from Noel's insights, tap into his wealth of experience, and embark on a journey to achieve the optimal value for your business. ExpertiseMatters
05/01/2024
BAA, renowned for its comprehensive services, often receives queries from those curious about our offerings. Put simply, if your business requires assistance, we have the expertise to provide it. BAA provides access to an extensive warehouse of Smart high-impact tools, resources, education, and advice that can be implemented in your business right away. Notably, with its exclusive $79 per month unlimited subscription model, BAA is one of the the only organizations governed by regulations and guided by compliance, safeguarding small business owners from potential exploitation. BAA is at the forefront, revolutionizing business advisory and support in Australia. The benefits for SME’s are:
Access to Comprehensive Tools: Immediate access to a diverse range of Smart high-impact tools for various business needs.
Rich Resources for Growth: A wealth of resources encompassing educational materials and advice tailored for business growth and development.
Practical Application: Practical advice and tools that can be directly implemented in the business to drive positive outcomes.
Cost-Effective Subscription Model: An exclusive $79 per month unlimited subscription model, providing cost-effective access to a wide array of valuable resources.
Regulatory and Compliance Protection: Assurance of regulatory compliance, with BAA being the only organization governed by regulations, protecting the business owner from potential exploitation.
Pioneering Business Transformation: Being part of a community and network at the forefront of business advisory and support, positioning the business for innovative transformation in the Australian business landscape.
BAA have a new promotion! Discover the many benefits of BAA - Over $1,500 in "value Adds" for your business in the FREE membership portal. Go to this link to register for access NOW! https://www.businessadviceagency.com.au/free-membership-hq
17/11/2023
We at the Business Advice Agency are proud to be associated with the Institute of Advisors, bringing quality and trusted advice to all SME's. All our Advisors are certified through the Institute. Here is a good Motivational video from the Institute to give you more of an idea as to what they/ we are about!
Inspirational business video. A tribute to Business owner heroes around the world! We wanted to pay tribute to business owners around the world. This video tries to encapsulate some of the passion and courage that goes into running a busine...
08/11/2023
Hi everyone,- We are excited to announce that, if you are a valued subscribed member of the BAA community, you now have exclusive access to two exceptional short courses on Artificial Intelligence (AI) and Cyber Security within our Member Portal, and the best part is, they're completely FREE!
In today's rapidly evolving landscape, AI and Cyber Security are reshaping the way businesses operate worldwide. To stay ahead of the competition, it's imperative that you stay "in the know" about these transformative technologies. You can rest assured that your competitors are harnessing the power of AI to gain a competitive edge, and you should too!
These two short courses are not just a recommendation; they're a necessity to elevate your business to the next level and thrive in this ever-advancing digital era. Don't miss out on this opportunity to enhance your knowledge and gain a competitive advantage in the world of AI and Cyber Security.
Visit our Member Portal today to explore these courses and equip yourself with the tools you need to succeed in today's fast-paced business environment. Your future success starts here!
Businesses helping each other!
24/10/2023
The ATO is on a mission to crack-down on business owners who owe tax to the ATO. It’s anticipated that more than 9,000 businesses will have their debts disclosed to credit reporting agencies this month, Plus, 50,000 businesses are expected to receive ‘notices of intent to disclose business tax debts’ this financial year. Once this hits their credit report, the business owner might find it a little more difficult to get finance. Perhaps get some finance NOW to pay the bill, that way you just pay small installments each month to pay the debt off. These business owners need to speak with their accountant or finance broker NOW to work out a plan to avoid this issue, or even contact the Business Advice Agency for more information and assistance.
This new law as shown below, will have a very good impact on helping many small businesses 🙂 The Office of Fair Trading is encouraging businesses to review their standard form contracts and remove or amend any unfair contract terms before law changes take effect.
From 9 November 2023, changes to the Australian Consumer Law (ACL) will expand the prohibition on traders proposing, using, or relying on unfair contract terms in standard form contracts with consumers and small businesses. An example of this is if you do some wok for me but i do not pay you for 2 months, that is "Unfair".
The changes will apply to:
standard form contracts made or renewed on or after 9 November 2023
a term of a contract that is varied or added on or after 9 November 2023.
Australian consumer protection agencies will be monitoring businesses’ compliance with the unfair contract term laws.
The changes expand the coverage of the unfair contract term laws to protect more small business contracts than before. The threshold will increase to apply to small businesses that employ fewer than 100 persons or have an annual turnover of less than $10 million.
Other key changes include the removal of the contract value threshold and clarifying other aspects of the laws, such as more clearly defining ‘standard form contracts’.
Businesses may wish to obtain independent legal advice if they have specific questions about how the law applies in their specific situation. If there is doubt as to whether a contract term would be considered unfair, businesses should consider removing or changing the term.
The changes will allow Courts to impose substantial penalties on businesses and individuals who include unfair terms in their standard form contracts, so compliance with the law should be taken seriously.
The Landscape for SME's continually changes... here's a short update : Small businesses grew their sales 6.3% year-on-year in June, according to the latest Xero Small Business Index. While this was the smallest rise since February 2021, Xero said businesses were still growing their revenue even allowing for inflation.
Businesses were paid in an average of 19.9 days in June, compared to 23.2 days in May. Xero said this sharp improvement in payment times was "mainly due to the temporary impact of the end of the financial year" and would likely "return to a more usual level" in July. Wages rose 3.1% year-on-year in June, which was significantly lower than the average in the last six months of last year (3.9%) and almost identical to the long-term average (3.0%).
"This result is positive for the inflation outlook and suggests that the wage rise pressure that had been building in 2022 has dissipated," according to Xero.
One negative, though, was that jobs growth in June was only 2.5% year-on-year, compared to an average of 3.4% last year.
As a result, "small businesses looking to hire continue to find it hard to recruit staff", Xero said.
08/09/2023
ASIC brings suit against Paypal Australia for alleged unfair contract term.
The Australian Securities and Investments Commission (ASIC) has taken legal action against Paypal Australia Pty Limited, alleging that the company’s standard form of contracts with small business owners contains an unfair term.
According to ASIC, business account holders are given 60 days to notify Paypal of any errors or discrepancies in fees that Paypal has charged them, or else accept those fees as accurate. ASIC alleges such a term is considered unfair.
“ASIC has commenced this action to protect the interests of small businesses,” said Sarah Court, deputy chair of ASIC. “We allege this term is unfair because it allows PayPal to escape the consequences of its own errors in overcharging small businesses, and places additional burdens on small businesses to detect and correct charging errors.”
The financial services and consumer credit watchdog further alleges the contract term is unfair within the meaning of s12BG of the ASIC Act as the term:
• causes a significant imbalance in the parties’ rights and obligations under the contract
• is not reasonably necessary to protect PayPal’s legitimate interests
• would cause detriment to PayPal business account holders if the term were relied on.
It's good that SME's are starting to get the support they so desperately need!
25/08/2023
Check out BAA's new BLOG on the SME market in Australia. It's an interesting read. - 406,365 new businesses opened their doors in the 2022/23 financial year, however, 386,392 closed! Other stats show that 60% of businesses fail in their first three years or operation and of those, 50% are profitable, so it's not all about financial stress! Check-out the blog and stats here -
THE SME SECTOR IS RESILIENT AND GROWING! The trend of operating a businesses in Australia is steadily rising. Business owners need to "keep ahead of the curve" and adapt to the ever changing market landscape to remain competitive and survive.
Exciting News! Introducing Better Business Coach (BBC) - Join us for a game-changing experience! Our newly launched division is here to revolutionize the business support market. With unparalleled benefits and features, BBC is the ultimate lifeline for business owners of all sizes. Certified Coaches with a huge collection of tools and services to help your business be more successful Visit our website at https://lnkd.in/gRjq3Dc7 for more information, or simply give me a call – 0413 860 952
17/07/2023
BAA's themed forum (Wiilson) has just received some noteworthy exposure with a real life Sydney based castaway! Our Forum Willson, was developed to help business owners connect with other business owners and not feel alone in their business. Wiilson is a FREE platform exclusive to business owners. If you are not a member of Wiilson, join today :-) find Wiilson at www.wiilson.com.au or on facebook as "Wiilson's Tribe". Click below to see the castaway news story. https://www.9news.com.au/national/sydney-sailor-and-dog-survive-for-months-in-pacific-ocean/7b2cbd22-308a-4f6b-97ad-7006262ef232
28/06/2023
Who is feeling the PINCH with mortgage repayments? Don't stress it, check out these great hacks to make your finances a little easier... just click below
Expert-Approved Hacks to Weather High Interest Rates with Ease!. The impact of steep rate hikes on new borrowers has become evident, highlighting the need for mortgage holders to weather the storm of high interest rates.
19/06/2023
SMALL BUSINESSES GRANTED TAX AMNESTY
The Australian Taxation Office (ATO) is encouraging small businesses that have overdue income tax returns, fringe benefits tax returns or business activity statements to take advantage of a new amnesty to get their lodgements back on track. The amnesty was announced in the 2023-24 Budget. It applies to tax obligations that were originally due between 1 December 2019 and 28 February 2022 and runs from 1 June 2023 to 31 December 2023.To be eligible for the amnesty, the small business must be an entity with an aggregated turnover of less than $10 million at the time the original lodgement was due.
During this time, eligible small businesses can lodge their eligible overdue forms and the ATO will then proactively remit any associated failure to lodge (FTL) penalties. The ATO encourage all businesses to lodge any overdue forms even if they are outside the eligibility period. Whilst forms outside the amnesty eligibility criteria will attract FTL penalties, the ATO will consider your circumstances and may remit such penalties on a case-by-case basis.
Speak with your accountant for more information or refer to the Expert Accountants available in the Business Advice Agency.
15/06/2023
BAA NEWS: Check out the NEW BLOG posted by BAA today. It will make you think twice about what you might be able to do better in your business! It's called "Unconventional Strategies, Extraordinary Results: The Power of Business Experimentation"
CLICK HERE to see the BLOG - https://www.businessadviceagency.com.au/blog/b/Unconventional-Strategies-Extraordinary-Results-The-Power-of-Business-Experimentation
30/05/2023
Business owners don't like uncertainty about what is coming around the corner that might affect their business. The best thing a business owner can do, is be prepared! The big question is, “be prepared for what?” Well, BAA has you covered! Find out the answers in this free download: https://lnkd.in/gdM57eZ9
18/04/2023
Ready to Start Your Dream Business? In 2022, - 472,731 businesses started-up! in 2021,- 365,480 businesses started-up. Since COVID, more people are following their dreams. The Business Advice Agency has a complete Business Start-up Bootcamp to help you get started. Everything you need to know is right here!!
01/03/2023
The tax department is actively chasing debts, however, SME's may have some assistance to deal with tax issues, from the Small Business Ombudsman. (their details are on our website) Reach out to them if you are being hassled by the tax man! Also, they have new energy grants coming to market for SME's, Keep an eye out for them!
March Newsletter - Low-cost pathway for tax disputes From 6 March the Fair Work Act will explicitly prohibit sexual harassment in connection with work, which includes the workplace. It's one of several new laws. The Fair Work Ombudsman is running a webinar on 8 March to go through the recent and upcoming Fair Work Act changes.
19/01/2023
The Business Advice Agency is excited to announce that our doors will be opening to the public in the coming days. After 18 months of diligent work and dedication, we are proud to offer our services to small business owners and entrepreneurs. Our team of experts is ready to provide professional guidance and advice to help our clients achieve success in their business endeavors. We extend a sincere thank you to all of those who have helped make this opening a reality. Keep an eye out on our website for the official opening date and take advantage of our grand opening special offers. We look forward to working with you in the near future.
07/09/2020
We Know Small Business
With over 50 years of small business experience having run, managed and supported small businesses in a variety of different industries, we understand the pains, pitfalls and challenges small business owners experience every single day.
Get mentoring and support from our experts.
Become a Member today.
https://businessadviceagency.com.au/
04/09/2020
How do we help Small Business Owners Survive, Thrive and Prosper?
Educating, informing and mentoring small business owners in the 10 key disciplines of business success including; Accounting, Finance, Marketing, Sales, HR, Digitalisation, Insurances, Legal, Health & Well-being.
We provide unprecedented business support, guidance & education.
Become a Member today.
https://businessadviceagency.com.au/member-benefits/
01/09/2020
You can’t know everything there is to know about running a business.
THAT is where we come in.
Learn more about Business Advice Agency (BAA) Member benefits.
https://businessadviceagency.com.au/
31/08/2020
Do you sometimes feel lost and alone in your business?
Being in business is hard. Going it alone is even harder.
We’ve got your back.
Become a Member today.
https://businessadviceagency.com.au/
Business Advisors Australia | Small Business Consultants | Business Advisory Business Advice Agency in Australia supports small businesses to achieve their goals. We offer coaching & planning to small businesses to improve the success rate.
28/08/2020
Our Mission is to create Australia’s most valued business hub, forming an energised community of successful business owners and educating, resourcing, supporting, and mentoring them to achieve their personal and business goals.
Learn more about Business Advice Agency (BAA) Member benefits.
https://businessadviceagency.com.au/
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