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Get to know the government grants in your state

We break down small business government grants by state to help existing and new enterprises take advantage of all the help available.

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Does your digital presence comply with privacy laws?

Governments are stepping up regulation of online privacy, and small businesses can’t bury their heads in the sand. We’ve put together a quick guide to the key privacy areas you need to be across.

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A ‘how to’ for business owners managing their super

We look at how and why every small business owner needs to start paying themselves superannuation and planning for the future with these actionable tips and advice.

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How to start the new financial year afresh

Strategies and tips to implement to ensure your small business runs smoothly and grows in the 2018-19 tax year.

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Prospa Supports Online Small Business Lenders’ Code Of Practice

Prospa, Australia’s #1 online lender to small business, congratulates the Australian Finance Industry Association (AFIA) for today publishing the Code of Small Business Lending Practices.

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What is a factor rate and how does it impact you?

In this blog we unpack and explain factor rates – from how they are calculated to what they’re used for and the key things you need to know about them.

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Is your small business ready for end of financial year?

This complete checklist – which you can download and print – will ensure your small business ticks all the boxes this financial year and is ready to leap into the next.

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6 tax-time tips to minimise your EOFY stress

Does the end of financial year stress you out? Check out these simple and actionable tips for small business owners to help you navigate – and make the most of – tax time.

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[Infographic] How to take advantage of the $20,000 instant asset write-off

Here we unpack what the instant asset write-off actually means for your small business and what you can and can’t claim.

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Is your business reporting letting you down?

Business intelligence (BI) is a system that ensures you report the right way. We offer tools and tips on the benefits of good reporting and consider the negative effects of bad reporting.

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Is your business ready for single touch payroll?

What is single touch payroll and what does it mean for small businesses? We give you the rundown on the latest reporting requirements for small business owners, with quick tips and advice for an easy and seamless set-up.

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5 minutes with Karen Hellsten of Mountain Wine Tours

Prospa catches up with small business owner Karen Hellsten of Mountain Wine Tours to find out more about her small business and what makes her tick as a small business owner.

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Cash flow loan checklists

When you understand the benefits of cash flow loans, it’s easy to spot when it’s the right solution for your client.

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Understanding the new generation of business funding

There’s a new generation of lending available for small businesses. Cash flow lending, crowdfunding and raising equity are some of the ways 21st century businesses are raising capital to grow.

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Understanding cash flow lending

Cash flow lending could be the smart answer to your clients’ small business needs – and boost your portfolio at the same time.

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What this year’s Federal Budget means for small business

Christmas didn’t quite come early with this year’s federal budget, but there were a few gifts for small businesses left under the tree.

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5 ways to find new business and increase leads

How do you currently get leads and new business? See how you can increase the volume of new business with these strategies for finding new leads to widen your customer base.

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Business strategy template

Business strategy is essential, whether you’re looking to start or buy a business, or just trying to get your house in order. Use this strategy document as a guide, benchmark and overview for potential investors.

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12-month profit and loss projection tool

Use this worksheet to project and record profit and loss throughout the year. This tool will help you monitor your activity and show whether your business model is viable.

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Employee KPI and performance review template

Use this KPI document to assess your employees’ performance and help them develop the skills they need to grow. Get to the bottom of what makes your employees tick and identify areas for improvement and growth.

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9 cash flow mistakes to avoid as an owner

In small business, cash flow is king. It’s crucial for covering expenses, repaying debt and planning for growth. Here are some common cash flow mistakes to avoid – and how to stay on the path to success.

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The essential small business financial dictionary

The first step to making the right financial decisions for your small business is understanding key financial terms. Improve your financial literacy with our handy glossary of key financial terms.

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9 investments to make your small business grow

What types of investments lead to the growth of your business? From upping your online game to smart insurance, here’s 9 essential investments and expenses that can help your small business grow.

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EOFY – how to avoid common small business tax mistakes

The end of financial year (EOFY) is fast approaching! Make it a seamless and easy process by avoiding some of the most common EOFY year mistakes made by small business owners.

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You’re in financial hot water with your business – now what?

Are you backed into a financial corner? Don’t worry! There are ways to work through a rough patch in your small business without losing everything. Read on for best practice advice.

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Everything about starting a small business

Are you starting a small business? We cut through the noise and answer your burning questions from failure prevention to finance.

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5 reasons why businesses overcome failure

We explore some of the biggest causes of small business failure in Australia, and offer tips and strategies to ensure the survival and growth of your business.

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The all-in-one EOFY tool

Get on top of your end of financial year (EOFY) plan with this all-in-one EOFY tool! Use this worksheet to record and track your EOFY regulatory requirements maximise your deductions with our expense calculator.

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Marketing Calendar Template

Marketing works best when it’s strategically planned. This marketing calendar will help you create a wholistic marketing plan that meets your objectives, tracks spending, reaches your target audience and increases your customer base.

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Cash flow forecast template

Take the stress out of cash flow forecasting with these easy-to-use tools that will help you better manage and forecast your businesses cash flow.

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Is your business’s social media falling flat?

Take your social media to the next level with expert tips and tricks to make your social media shine. Learn how to refine your digital voice and create content that will perform leaps and bounds beyond the competition.

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4 ways automation will streamline your business

How long do you spend on administration tasks? Is it getting in the way of growing your business? Discover how automation can streamline the day to day and give you more time to focus on growth.

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4 of the best free website builders

In a digital-first world, your website is the hallmark of your business’ digital presence. Whether you’re looking for a refresh or a complete redo, these four website builders can help.

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Managing your business finances on an ongoing basis

Congratulations! Your small business is running smoothing and things are falling into place. But before you pop the champagne, are you sure you have absolutely everything organised with your business finances?

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Should your business offer more flexible working conditions?

While it’s no surprise that flexible working arrangements increase employee morale, only 13% of Australian small businesses actually have a flexible work policy. Learn the benefits of flexible working arrangements and how best to implement a compliant flexible work policy.

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5 minutes with Nicky Mann of Roses 2 Go

Prospa catches up with small business owner Nicky Mann of Roses 2 Go to find out more about her small business and what makes her tick as a small business owner.

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5 tips for developing a great workplace culture

How’s your staff morale? A positive workplace culture can be the difference between an average workplace and a great one. Here’s how you can develop a high-quality workplace culture.

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5 steps for building a small business budget

Creating a small business budget is key to keeping your finances on the straight and narrow, as well as tracking your expenses to keep you out of the red. Here are five key steps to get started with a budget for your small business.

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Do you know when you need to register for GST?

To register or not to register? That’s the question faced by many Australian small business owners when thinking about GST. In this helpful guide we help you better understand the pros and cons of registering for GST and when your obligated to do so.

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Common BAS mistakes made by small business owners

If you’re a business that’s registered (or required to be registered) for GST and PAYG withholding, you must prepare a periodic business activity statement (BAS) in order to meet your tax obligations. Here’s a guide to getting prepared for BAS and avoiding the most common BAS mistakes made by small business owners.

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Should you charge customers a tap-and-go fee?

With fees running around four times higher for tap-and-go than EFTPOS, we explore the pros and cons of a small business passing on fees to its customers.

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How to manage your BAS

Being a small business owner goes hand in hand with understanding BAS. Here, we demystify the BAS process and make it easier for you manage your BAS ongoing and avoid potential penalties.

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Do I Need an Accountant or Bookkeeper?

How do you know if you need an accountant or a bookkeeper? Here we help you better understand the difference between each so you can make the right decision when choosing a supplier for the job.

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Networking tools and tips to help women in business thrive

For women in business, the benefits of networking include meeting like-minded professionals and connecting with people you may end up doing business with.

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Why debt can be a good thing

While growing a business often involves going into debt, it’s important to acknowledge there are two types of debt: good and bad. Knowing the difference is key.

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How female small business owners can find the best mentors

Small business owners with a mentor are more likely to succeed beyond five years than those without one. Here’s how mentorship can take you to the next level.

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Is your business strategy built for long-term success?

Learn how 6 key ingredients can help you build a smart business strategy so your operations, finances and big dreams are on track for the long haul.

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How to tow your business out of a revenue plateau

Working harder but not making more money? Make 2018 your year for small business growth with these practical ways to increase revenue and build your business.

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5 small business finance measures you need to know

Getting across these five key financial measures for small business success will help put you on the path to growing and expanding your small business in 2018.

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3 questions to ask before you get a small business loan

Three questions to ask before you get a small business loan Are you thinking about applying for a small business loan to help your business grow? Before you take the plunge, here are three questions to ask yourself to make sure you’re ready to take the next step. Question 1: What will you use the […]

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2018 consumer trends that will change your retail business

The beginning of a new year brings often with it the desire to implement change and drive growth in our businesses. In this blog, we round up four key consumer trends that will influence retail small businesses in 2018. Subscription-model businesses With convenience becoming of ever-increasing importance to consumers, 2018 will be the year that […]

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Checklist: 5 New Year’s resolutions for every small business owner

If you’re looking to improve and grow your business in 2018, here are five New Year resolutions to consider implementing. 1. To learn new things. Learning new things can give you a fresh perspective, improve your skills and knowledge, and help you to introduce new elements to your business. For small business owners, learning may […]

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5 ways to overcome cash flow crunch

Managing cash flow and balancing the books can be tough, especially when it’s a busy time in your industry! Conquer the end of year cash flow crunch with these five tips for cash flow success!

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Is your small business ready for Christmas?

The clock is ticking down to the end of the year. And as a small business owner, you’ll no doubt be aware of how important it is to prepare for the festive season well in advance – from making sure you have enough stock and staff to cover the Christmas rush, to preparing for any […]

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Melbourne Cup marketing tips for small business

Australia’s most famous race, the Melbourne Cup, returns this year on Tuesday 7 November. Here are just a few ways small businesses like yours can tap into the race that stops the nation – and the Derby Day, Oaks Day and Stakes Day events that form the rest of the Melbourne Cup Carnival – with […]

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10 Business Tips For Mumpreneurs

There are now over 668,000 businesses operated by women in Australia, which means women make up around a third of all Australian business operators. And more and more women are starting their own small businesses. There’s been a 46% increase in the number of women running businesses over the past two decades, of which “mumpreneurs” […]

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Six cafe and restaurant design trends to watch

Looking to give your restaurant or café an interior update or overhaul? Read on! From decor and lighting to music and your overall vibe, we’ve rounded up the year’s best trends to help you create the look and feel that’s ideal for you – and your customers. Keep it natural As people embrace sustainability, organic […]

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Try before you buy: Pop-up retail for small businesses

Pop-up stores – also known as pop-up retail, pop-up shops or flash retailing – have evolved greatly since Japanese fashion brand Comme des Garçons launched the concept in Berlin in 2004 to offload its old stock. Today, businesses of all sizes and across a diverse range of industries open these temporary sales spaces for a […]

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Marketing yourself online

Regardless of your industry, most people will want to scope out your business before they engage with it. And with 81% of Australians owning a smartphone and 59% going online more than five times a day, it’s likely many will do so online. With this in mind, here’s our look at online marketing for small […]

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Word of mouth marketing in the digital age

‘Word of mouth’ marketing has taken on a whole new meaning in the digital age. With 48% of small businesses and 54% of medium-sized businesses using social media to engage with their customers, business owners need to know how to leverage and manage their reputation online. Here are some tips to help you do it […]

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Cash or app? Cashless payment options for tradies

With the Australian home renovation market now valued at more than $31 billion dollars, tradies are busier than ever – and many are looking at ways they can use technology to be more efficient. One way to do this is cashless mobile banking options. These give small business owners the ability to manage their finances […]

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457 visa changes and your business

With skill shortages across many trades and the hospitality industry in particular, the changes to 457 visas will impact many small businesses that rely on foreign workers. What’s changed? The Australian government recently announced that the 457 Temporary Work (Skilled) visa would be abolished and replaced with the new Temporary Skill Shortage (TSS) visa in March […]

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Reducing your small business energy bills

Along with other business expenses, the rising cost of energy in Australia can be a headache for small business owners. According to the general manager of the Chamber of Commerce & Industry Queensland, Kate Whittle, the high prices are putting small business owners in a difficult position. “Businesses are either passing those increases in costs […]

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Choosing the best payroll service for your business

Payroll is a necessary part of any small business with employees. However, it can be stressful and time consuming – especially given your staff will be understandably sensitive to any mistakes that are made. That’s why outsourcing to a payroll provider has become an increasingly popular choice for many Australian small business owners. But is […]

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Prospa appoints Rebecca James as Chief Marketing and Enterprise Officer

Sydney, 4 September 2017:  Prospa, Australia’s leading online lender for small businesses, continues to build on its growth with the appointment of Rebecca James as its new Chief Marketing and Enterprise Officer. Rebecca joins Prospa from ME Bank, where as CMO she led the transformation of the ME brand, simplifying the product offering and step-changing […]

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How to become an Employer of Choice

The Prospa way to becoming an Employer of Choice In the short space of five years, Prospa has established itself as an industry disruptor and market leader in small business lending by putting its people at the heart of the business. It is this genuine commitment to the ongoing success of our people and customers […]

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Protecting your business against ransomware

There have been many stories in the media recently of businesses and government agencies being impacted by ransomware. One of the biggest being the WannaCry ransomware incident, which hit the UK government’s National Health Service (NHS) and affected twelve Australian small businesses in May of this year. The most recent being the Petya cyber attack […]

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Essential 3-Step Guide to Last Minute EOFY Prep + EOFY Checklist

Have you left your end-of-financial-year (EOFY) planning until the last minute? Need some last minute tax tips as a result? We’ve all been there. When you’re a small business owner or self-employed person, it can be tough keeping on top of your taxes as well as your business. So here’s our three-step guide to getting […]

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Prospa appoints Damon Pezaro ex Domain as Chief Product Officer

Sydney, 21 June 2017: Prospa, Australia’s leading online lender for small businesses, has today announced Damon Pezaro as its first Chief Product Officer, in a move that will see the company expand its product offering to help more small business owners access finance. Damon joins Prospa from Domain, where as CPO he led major transformation […]

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4 ways business owners can use seasonality for marketing

Each season provides opportunities to promote your business in different ways. Here are four ways to use seasonality in your marketing. 1. Plan ahead. “Our busiest time of year is the lead up to Christmas,” explains Dr Frank Farrelly of Darlinghurst Dental. “There is the social aspect of everyone trying to get finished up before the […]

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Risk Management 101 for Small Business Owners

The tradeoff for the many satisfactions and rewards of running your own business is that you carry the consequences if things go wrong. This is why it’s important to have a risk management plan in place. What is a risk management plan? In a nutshell, it’s a collection of strategies that will help you reduce […]

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How to Deal with Late Payments

Late payments, overdue invoices and unpaid invoices cause major headaches for many small business owners. We look at how you can best deal with those unpaid invoices and slow-to-pay clients. How do late payments affect your business? It’s a harsh reality that small businesses are typically at the bottom of the payment pile, and that […]

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Q&A: How will the superannuation changes on 1 July 2017 affect me?

  Superannuation, or ‘super’, is important to all Australians, but especially small business owners who must save their own super, as well as pay super to staff. With major changes to superannuation in effect as of July 1, 2017, we asked Jo Brassett, Financial Advisor with Sydney-based Insurance Advisory Service, to walk us through the […]

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5 questions to ask your accountant before EOFY

The End of Financial Year (EOFY) is fast approaching. Are you prepared? We spoke to accountant Adrian Sibbick from Evo Group to find out how you can maximize your position for this year, and prepare for the new financial year. Tax is a major consideration for small businesses, particularly at this time of year. There are […]

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Budget 2017: Better days ahead but little for small business to shout about

After featuring last year with big ticket announcements for small business, the  Budget 2017 sees a supportive but neutral approach to the sector. Here’s 10 small business impacts you need to know now. 1. $20,000 instant asset write-off extended The $20,000 instant asset write-off scheme stays for another year. Improve your cash flow and deduct […]

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Revisiting the innovation tax incentives for start-up investors

With a few months to go until 30 June when investors can claim the new start-up tax concessions and 31 July when start-ups need to report information to the ATO, it’s good timing to revisit the state of play and some of the key conditions. It was around this time last year that there was […]

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Small business, big dreams: In conversation with The Nile Grill and Kebabs

From little things, big things grow.  In the case of husband and wife team Hosam and Glynis, their dine-in restaurant, The Nile Grill & Kebabs, grew from the successful mobile food van that served hungry sailors in the shipyards of Henderson, Western Australia. Here’s their story. Hosam and Glynis opened The Nile Grill and Kebabs […]

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How to deal with difficult customers

Dealing with difficult customers may not be the most enjoyable part of being a small business owner, but it’s a necessary one. Knowing how to handle complaints appropriately takes practice and professionalism. Here are some tips on how to deal with difficult customers.

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4 networking tips for women in business

Networking is a great way to grow your community of business contacts and peers. For women in business, the benefits of networking include meeting like-minded professionals and connecting with people who you may do business with. Networking provides rare opportunities for learning, development, support and inspiration. Here are our networking tips for women in business. […]

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5 ways to market your small business

Regardless of whether your small business is a new or established one, marketing can play an important role in its success. Marketing can help you grow and retain your customer base, increase awareness and strengthen your brand. Here are five easy ways to market your business. 1. Get on Google My Business When it comes […]

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How one woman used technology to grow her travel business

Technology can be an invaluable tool for small businesses looking to establish and grow themselves. It’s something that Hayley Morris believes is integral to the success of her business. Hayley is the founder of Sisterhood Womens Travel, a Melbourne-based tour company that specialises in women-only travel for small groups. Hayley tells us how she uses […]

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5 marketing ideas to increase foot traffic on Valentine’s Day

Valentine’s Day is fast approaching, and it’s usually a very busy day for many small businesses, especially retailers, restaurants and florists. Here are some small business marketing ideas to help you increase foot traffic on February 14 this year. How Australians spend Valentine’s Day A 2015 survey undertaken by Canstar Blue offers interesting insights into […]

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How do I recover a business debt?

Outstanding debts can stifle a business’ cash flow. However, spending time chasing unpaid invoices can distract business owners from their core functions. Generally, terms and conditions of trade will include a clause addressing payment, unpaid invoices and debt recovery costs. In this article, we will clarify the best way for you recover money owed to […]

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Women who understand good debt

The old adage of ‘you need money to make money’ rings particularly true when it comes to securing funding to start or grow your own business. While growing a business often involves going into debt, it’s important to acknowledge there are two types of debt: good and bad. We explore the differences and look at […]

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4 questions to ask yourself before a website redesign

According to Google’s Consumer Barometer, the internet is a key resource for finding local businesses. 80 per cent of Australians go straight to a search engine to look for a local business, and 55% use a website as their main research tool even if they go on to buy in store. If your business is […]

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How to make the most of the January sales period

With many Australians enjoying extended holidays and taking advantage of the sales running well into the New Year, January is traditionally a busy time for retailers. We’ve compiled six simple ways small businesses can make the most of the January sales period this year.  1. Mix it up and have new season and sale stock […]

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4 of the Best Alternative Sources for Business Finance

Getting finance is crucial to starting your business dream, and it does not get any less important once you are up and running. With traditional business financing sources often difficult to access for small business owners and tradies, fortunately there are more alternative options for business funding than ever before. 1. Online Lenders More and […]

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4 ways to deal with business competition

It can be a little intimidating when a competitor opens up nearby, or moves into a corner of the market that you’ve occupied comfortably for a while. While the first thing you may be tempted to do is focus on knocking out the competition, it’s much more effective to look at your own business and […]

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5 Tips for Maintaining Steady Cash Flow this Christmas

Bells are jingling and cash tills should soon be ringing for Australian retailers this Christmas. With an estimated $48 billion to be spent by shoppers, there should be plenty of holiday cheer for everyone in business. Unfortunately, for agencies and other small businesses and tradies operating outside the retail or hospitality sector, Christmas and the […]

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3 Ways Beauty Salon Owners Can Increase Profit Margins

In today’s tough economic conditions, salon owners have to focus on profit margins more than ever to ensure they survive and grow. Fortunately, there are many ways hair and beauty salons can become more efficient while growing revenue and clients – here are three of the best methods to boosting your business. 1. Improve product […]

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Female Business Leaders and Money Management – Insights from the Top

Any successful business venture requires careful cash flow management. It’s a delicate balance – scaling at a rate that enables you to cater to demand, while having enough resources to attract and retain the right employees. Business owners risk spreading themselves too thin if they try to do too many things at once. One of […]

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How to improve your customer service

The difference between a happy customer who comes back, and an unhappy one who never will, can come down to the standard of customer service you provide. Service quality can have a significant impact on the success, reputation and growth of your business. That’s why it’s important to continually try to improve it. Here are […]

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4 ways to turn customers into brand ambassadors

When it comes to the best brand ambassadors for your business, you’ll be hard pressed to find better ones than your customers. Customers who speak highly of your business are generally happy to sing its praises to others, helping you grow your business and reputation. Here are four ways you can turn your customers into […]

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3 women who used business loans to grow

Getting a small business off the ground is no easy feat, but having enough cash flow and capital to actually grow it is a different kind of challenge. It can be frustrating when traditional lenders are unable to help, but the good news is, funding doesn’t begin and end with the big banks anymore. Here, […]

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5 common payroll mistakes made by small business owners

Employees are the most valuable assets for any business owner or tradie, so managing the payroll should be a top priority. With even major organisations such as Queensland Health making payroll mistakes in recent times, here are some tips to ensure small business owners stay out of trouble with payroll tax. Understand who is an […]

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How to upsell any customer

Upselling is an art. Why? Because it involves getting an existing customer to buy or spend more with your business than they intended. This is no easy feat in a competitive market and when done well can help build stronger customer relationships and a healthier bottom line. So, how do you upsell to any customer? […]

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You have choices! How to choose finance for a growing business

Growing too fast? Successful small businesses and tradies often run into the issue of being ready to expand, but lacking the necessary funding. Fortunately, there are a number of small business financing options available, so make sure you choose the right one with these tips. Know your timing An important factor in choosing the right […]

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5 ways female small business owners can find mentors

For many women, having a source of inspiration and advice is key to overcoming the challenges of running a small business. According to a 2014 study, small business owners with a mentor are 70% more likely to succeed beyond five years than those who don’t have one.  Finding the right mentor will help you remain […]

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4 tips for small businesses to improve their web safety

From online banking to your business’s website and social media – the internet has become an indispensible part of running a small business. That’s why it’s essential that you make web safety a priority. Here are some tips to protect your business and stay safe online. 1. Create strong passwords. A 2016 report by US […]

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Productivity tips from Australian small business owner, Corrie McLeod

Espresso Communications founder Corrie McLeod opened her Sydney consultancy in 2004. Twelve years on, she heads a team of 14 consultants. Espresso’s clients include more than 20 high tech vendors and organisations. So what tricks to increase productivity and minimise downtime has McLeod learnt along the way? Here are her top tips for getting more […]

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4 warning signs of a financial problem for your business

Financial difficulties are the cause of many businesses closing. In the busy day-to-day of running a small business, it can be easy to pass off a warning sign of financial stress as something else. However, it’s important you don’t, because acknowledging and addressing any red flags early on may save your business. Here are four […]

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5 empowering conferences women small business owners should not miss

Keen to connect with like-minded entrepreneurs and small business owners while listening to inspiring female speakers? Here are the events and conferences coming up that you’ll want to put on your calendar. Being a female entrepreneur or small business owner in Australia can be tough. Although the number of female-run small businesses has grown by […]

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How to get a small business loan: 4 essentials

Obtaining finance can be challenging for a small business owner or tradie, with surveys showing that up to 80 per cent of Australian small businesses face cash flow difficulties at some point each year. If you need to access finance, here are 4 useful tips on how to make sure you are approved, not declined. […]

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Set up your business for mobile payments

Australians are in love with their mobile phones and take them everywhere, but is your business ready to accept payments from them? According to Deloitte’s 2015 survey, around 80 per cent of the population have at least one mobile, with nearly 15 million smartphones currently in use[BB1] . But while some 71 per cent of Australians […]

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What to do if you file your business tax return late

Life as a small business owner or tradie is busy, and filing tax returns is often the last item on the list after another demanding day. Sadly, unlike when you were at school, it is not actually possible to say the dog ate your homework and beg forgiveness. As the saying goes, there are only […]

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5 ways to improve cash flow in a small business

Cash is king, as any small business owner or tradie knows only too well. Getting on top of cash flow problems can help minimise variations in revenues and expenditures, while also giving you the freedom to plan for future growth. Here are five ways to help improve cash flow in your business: 1. Immediate invoicing […]

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Is it time for your hairdressing salon to hire an apprentice?

Hiring and training apprentices at your salon can be a cost-effective way of growing your business. Here are some things to consider before you take the plunge. Keeping up with demand Is the reputation of your salon growing? Are customers flooding in? Do you find yourself apologising for long wait times or a booked up […]

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4 ways cloud technology will help your business grow

New technology is continually changing and shaping how we do business, allowing small businesses to be more efficient than ever before. Among these technologies is cloud computing. Here, we explore what cloud computing is and how it can help you grow your business. What is ‘the cloud’? Many businesses once stored their apps, data and […]

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How to streamline your invoicing processes

Managing invoices and accounts can be a time-consuming affair. Here are some tips to streamline – and stay on top of – your invoicing processes so you can get paid. Invest in accounting software One of the easiest ways to streamline your invoicing processes is to upgrade from your old Excel spreadsheet to digital accounting […]

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Instagram – the essential social media platform for cafes

Social media is a vital marketing tool for today’s café owner, and in particular Instagram. This  photo sharing app has doubled its reach since 2013 and shows no sign of slowing. Here’s why and how Instagram can help grow your business. It’s visual A picture tells a thousand words, and Instagram is a global community […]

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How to grow your practice when you are the business

Working solo as a health professional, consultant, bookkeeper, broker or lawyer can be tough. Here are a few ways you can take your business to the next level and grow your practice and team to be more than just you. Reward referrals Happy customers are your best form of PR. Why not implement a scheme […]

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How to choose the best accounting software for your small business

Introducing accounting software to your small business can make managing your accounts easier and more efficient, while also saving you time, money and helping you gain a better insight into your business finances. With so many accounting software options on the market, it’s important to choose one that suits the size and nature of your […]

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The best places for outsourcing odd jobs

As a small business owner, you already know it’s close to impossible to be the master of all trades. It’s likely at some point you will need the help of a freelancer or contractor. Whether it’s a one-off task, or ongoing part time work, it pays to know where to look for talented help. Here […]

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5 quick and easy marketing tips for small businesses

Marketing your small business doesn’t have to be time-consuming, expensive or complicated. Here are five marketing tips for small business that are quick, affordable and easy. 1. Create a blog for your business. A blog is a great addition to your marketing strategy. Get creative with your content and use it as an opportunity to […]

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Use Instagram to promote your hospitality business

Social media is a vital marketing tool for today’s café owner. Consider focusing on Instagram, the photo sharing app that has doubled its reach since 2013 and shows no sign of slowing. Here’s how it can help grow your hospitality business. It’s visual  A picture tells a thousand words, and Instagram is a global community […]

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3 Things to help your business succeed [Infographic]

It’s not easy to be a successful small business owner. You need to be on top of everything, from taxes to training, marketing to employee motivation, pricing to customer satisfaction. However – here are three key things you can do to help your business succeed.  

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Quick and easy marketing tips for small business

Marketing your small business doesn’t have to be time-consuming, expensive or complicated. Here are five marketing tips for small business that are quick, affordable and easy. 1. Create a blog for your business A blog is a great addition to your marketing strategy. Get creative with your content and use it as an opportunity to […]

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How to grow your health and fitness business

The health and fitness industry is a multi-faceted and competitive one. How you market yourself can play a big role in your success. We look at ways you can promote your business and generate leads. Brand matters In many ways your brand is your business. Not only is it your identity, it speaks of what […]

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How to tackle Google AdWords

Google is the world’s biggest search engine, so using AdWords can be an ideal way of reaching the right customers at the right time and place. Before jumping in, do your homework to ensure you are getting results and not simply paying the so-called “Google Idiot Tax”.  Know your objective Determine your goals – sales, […]

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Top 4 qualities of a good leader

What are the qualities of a good leader? The answer is strongly influenced by factors such as an individual’s leadership style, the business they are heading up, its culture and employees. Four qualities have been identified as common to all good leaders. We take a closer look at these and how to implement them. An […]

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Preparing for the new financial year

The new financial year has begun, bringing with it an array of opportunities for small businesses to audit their internal systems. This guest post by Anthony Lieu of LegalVision outlines some of the upcoming changes affecting businesses and key measures businesses can take to effectively forward plan. 1. Legislation changes to superannuation There has been a […]

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5 ways to stop your business losing money

No one likes losing money, especially if you’re a small business owner, freelancer or tradie. Check out these five ideas to see if you can improve your profitability. 1. Get organised Time is money, and there is no bigger drain on your time than being disorganised. It’s worth investing a little time upfront to develop […]

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How to introduce a customer loyalty program for your cafe

Loyalty programs are a great way of rewarding customers for their ongoing business. If you’re a cafe looking to introduce a loyalty program, here are a few tips to consider before you do.  Australia-specific insights There’s no doubt that customer loyalty programs are popular in Australia. Some 84 per cent of Australians were enrolled in at […]

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4 of the best apps for small business owners

Apps are a modern small business owner’s best friend. Many offer easy and efficient solutions that help time-poor business owners (and subsequently their team) increase productivity while saving time and money. Here’s a round up of four small business apps you should implement. For team communication: Slack Slack is a free team-messaging app that wants […]

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Franchising: How to turn your successful business into a franchise

Franchising has become a $144 billion sector in Australia, ranging from Subway, Baker’s Delight, Coffee Club and Gloria Jeans to Jim’s Mowing and a host of other well known brands. With the vast majority of franchise systems here actually originating in Australia, there is plenty of inspiration and opportunity for small business owners to look at franchising as a way to expand. Use our quick guide to check if your business is franchise-ready.

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Important Dates for FY17 [Infographic]

Allow us to present a useful journey through the FY17 financial year, in a format we hope you’ll find attractive enough to print out for the wall of your office. We’ve included all the important financial dates (like when your BAS is due). We’ve added other key dates that are usually significant for small business owners, like Valentine’s […]

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How to negotiate the right deal with suppliers

Regardless of the nature of your small business, the relationships you develop with your suppliers are important ones. They can impact everything from the quality of your goods and services through to your bottom line. Here are some tips on how to negotiate the best deals with your business suppliers. Know what you need Before […]

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6 different types of leadership styles

What kind of leader am I? What are the traits, qualities and characteristics of an effective leader? What leadership style will help me grow my business most? These are questions many of us, as small business owners and employers, have pondered. In this article we take a look at different leadership styles and help you […]

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4 Tips to get you started with social media for your small business

Are you a small business looking to get started on social media? If so, according to the Sensis 2016 Social Media Report you’ll be joining the 48 per cent of Australian small and medium businesses (SMBs) that already have a social media presence. And you’ll be engaging with the 69 per cent of Australians who […]

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5 Ways To Save On Tax Before EOFY

June 30 is fast approaching, but for tradies and other small business owners there is still time to save tax. Use our end of financial year (EOFY) checklist to help keep more cash in your pocket. $20,000 asset instant tax write-off Introduced in last year’s budget, and running until June 30, 2017, small businesses with […]

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Facing tough times? Help is at hand

Life as a small business owner, freelancer or tradie isn’t always easy. According to a recent small business report, only 60 per cent of small business owners survived between 2007 and 2011, implying that a large number failed or simply quit. Fortunately though, help is available from a number of sources, whether you are simply […]

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End of Financial Year Checklist for Small Business

The clock is ticking on another end of financial year. For busy small business owners, freelancers and tradies, it’s easy to miss something in the rush, so make sure you use this EOFY checklist to maximise your financial opportunities in the lead up to June 30. Organise documents, reporting June 30 marks the deadline for […]

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Tax deductions for tradies

It’s almost time to do your tax return. But don’t worry! Tax is one of life’s certainties – and fortunately for tradies there are plenty of ways to reduce the burden. Grab the available deductions to ensure you are not paying more than your fair share to the ATO.  You can surely use the money […]

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Business survival advice: Saving a small business that isn’t making money

Losing money each week is a sure-fire way to eventually go out of business completely. Use our quick guide to get your business back on track, whether you are a retailer, tradie, hairdresser or other small business owner fighting the good fight for business survival. Step 1: Diagnose the problem Check your cash flow and […]

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New office marks next phase of growth for Prospa

Four years after opening our first office on New South Head Road, Prospa has moved into new digs at Yurong Street Sydney, as we embark on the next stage of our journey to change the way small business owners experience finance and to accommodate our burgeoning team of 90 staff. Officially opened by The Hon. John Barilaro, MP – NSW Minister for Regional Development, Minister for Skills […]

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How to invest the instant tax write-off in your small business

The 2016 Budget saw another tax cut for incorporated small businesses (down to 27.5 per cent from July 1). There was also a rising tax discount for unincorporated small businesses (currently five per cent, it will jump to eight per cent on July 1) as well as the announcement that the $20,000 tax write-off on […]

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Invoice finance explained

Cash may be king, but Australian tradies and small businesses have it tougher than most when it comes to getting paid. According to a 2016 British study, the average amount of time it takes for an invoice to be paid in Australia is 26.4 days – the slowest rate among 80 countries surveyed [CB1] With […]

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Technology considerations for small business

With many apps and services becoming more and more affordable, efficient and easy to use, small business owners find themselves saving time, money and doing better business. Here are a few key technology considerations small business owners should place on their radar. Signing documents online The days of having to print, sign and send documents […]

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5 interior design trends for cafe and restaurant owners

If you’re a restaurant or cafe owner looking to give your business an interior update or overhaul, read on. We’ve rounded up five of the best interior design trends of 2016 and added some simple tips so you can apply them to your venue. Touches of nature This year sees a shift towards spaces that […]

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Three Legal Essentials for Small Business

Setting up a new small business can be an exciting time, but also very demanding and stressful. From attracting new customers to onboarding new employees, there is a range of business planning matters that must be done for a new business to operate and thrive. According to the Australian Bureau of Statistics, more than 60% […]

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How to prove ROI

There’s never a shortage of opportunities for small business owners. But one thing that remains universal across both the start-up scene and established business is proving return on investment (ROI). Put simply, ROI measures the return on funds invested in the business by you, the business owner, or the return on a particular marketing campaign. […]

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A retailer’s guide to traditional and digital marketing

There are many ways to market your business. Doing it well however requires choosing the right mediums to maximise your return on investment. We explore traditional and digital marketing and how to choose what’s best for your business. Traditional and digital marketing defined Traditional marketing includes print advertisements, advertorial in newspapers, magazines or publications; listings […]

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4 tips for franchises to grow your customer database

A customer database is a true business asset. It provides a business owner with a snapshot of who is interested in and who is supporting their business, as well as a means of communicating directly with them. For franchises, it also provides an insight into customers who are following your individual store, rather than just […]

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Prospa helps Liverpool business grow sales by 30 percent

This year, chef and small business owner Dawood has seen over a 30 percent sales increase at his restaurant Fiusion Pizza in Liverpool, with the help of a small busines loan from Australian online business lender Prospa. Creating and experimenting with food is Dawood’s passion. In order to take a step back from the everyday […]

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What it takes to run a successful family business

There are over 2 million small businesses in Australia and Government research shows 87% of them are family businesses. While they have a lot in common with other small businesses, family owned and operated businesses also face their own challenges and rewards. We look at what makes a successful family business and offer tips on […]

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Make a Success of Franchising

Did you know franchising is a big industry in Australia – employing over 460,000 people and generating an estimated $144 billion in turnover each year? If you’re thinking about buying into a franchise, read our helpful tips before you decide. What is a franchise? A franchise is an agreement that gives a person (the franchisee) […]

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Business development for tradies

More money for less hours. It might sound too good to be true, but a few simple strategies can help hard-working tradies take business to the next level. Word of mouth An oldie but a goodie, word of mouth is still one of the most effective ways to win new business. If you’ve done a […]

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Is it time for more staff?

The decision to hire more people is not made lightly by small businesses. When every business move can be felt across the entire business, it’s important to be informed and prepared. Here’s how to recognise if you’re ready to consider hiring new staff and a few considerations for approaching the process wisely. Do you really need more people? Here […]

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How to market your small business locally

If you’re not sure where to start when it comes to marketing your business locally, here are a few simple, cheap and effective ways to help grow your customer base in your local community. Print it Whether it’s putting an advert in the local newspaper or doing a leaflet drop in and around your neighbourhood, […]

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Data security for small business

Data security is no longer just a big business issue. Australia had its’ highest volume of data security breaches in 2015[1] with hackers not discriminating against business size. In fact, small businesses are often a more attractive target to hackers, having rich digital assets and poor security compared to larger organisations. Hacking victim David Wood, […]

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How The Coffee Club was able to Prospa over the holiday period

Mark Saggin is founder of The Coffee Club franchise at the Stud Park shopping centre in the Melbourne suburb of Rowville. He opened in December 2012, after operating The Coffee Club and Subway franchises in other locations around Melbourne. He launched the Stud Park Coffee Club with a $40,000 loan from Australian online small business […]

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Kickstart 2016 with a look at your website

The start of the year is a great time to review all aspects of your business – including the most essential of all – your website. As the go-to place for information on your business, most people will visit your website before they visit you in-store. So invest some time in refreshing your website so […]

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What small businesses should consider when hiring staff

When it comes to new staff you want to hire the best person for the role and for your business. A hire that goes wrong can cost you time, money and clients but a successful employee can truly benefit and help grow your business. Here’s what to consider when looking for new recruits. Know what you […]

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Managing Business Growth – How to change your business structure from sole trader to company

A business structure is often the first thing to change when your business grows. By reorganising your structure you can potentially become more profitable, improve processes and adapt to the changing needs of your business. You may be restructuring to meet financial goals and objectives, such as improving cash flow or profitability of the business. Your business may have expanded overseas, or […]

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The best ways to make your business credit score sing

Get to know your credit score! Very few Australian business owners realise they actually have a credit score. Learn how your business is perceived by lenders and make your credit score sing.

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How to master small business finance in six steps

Financial literacy – the knowledge and skills needed to manage your financial affairs – is not just important in business; it’s imperative. Entrepreneurs flourish and flounder as a result of their ability – or lack of – to juggle the complexities of business finance. Financial literacy is not usually why people decide to start a business […]

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Behind the business of a Prospa client – James Mussillon of Courgette Restaurant

As the owner of 12-year-old restaurant that’s still pulling in the top gongs, you’d think James Mussillon would be kicking back with his feet up. But James has always had bigger plans for his business and he came to Prospa for help. Read how a small business loan from Prospa enabled James to grow his […]

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Practical Facebook strategies for busy small business owners

As a small business owner you’ve probably been told countless times you “need to be where your customers are”, and “Facebook is your most important marketing tool” or our favourite, the short but sweet “you can’t NOT be on there!”. If you can’t face adding another task to your ever-growing to-do list but know that Facebook […]

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Top 7 Marketing Tips to Bring Your Restaurant Into The 21st Century

With new technology, those running a restaurant or café have many options available to market their business to a wider audience and improve profits.  

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Secure a loan without putting your home on the line

Getting an unsecured loan is not impossible. Many small business owners still perceive loans as being a bit of a dark art – believing that they need to put their assets or property on the line to get any financial assistance. Thanks to online lending, this isn’t quite the case anymore. Here’s what you need to know to get up to speed with today’s borrowing requirements.

 

 

 

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Does your networking on LinkedIn work?

A 27-year-old finance broker working for a Sydney-based firm made headlines recently after revealing he’d written $11.2 million worth of loans in the space of five months thanks to LinkedIn. That kind of return on investment is unusual but it’s not unachievable. Most people don’t move beyond seeing LinkedIn as a corporate version of Facebook […]

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How mate’s rates can end up costing you dearly

Sourcing the business financing to launch or grow a small business has always been tricky. Research suggests finance is an issue for at least 200,000 Australian small businesses at any given time, and just under a third of all small business owners believe they have missed an opportunity to grow due to a lack of […]

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