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Why Business Owners Need to Take Breaks (and How They Can Do It)

21 December 2021

Business owners don’t turn off. Even when they’re holidaying on a remote topical island, and it looks like they are “taking a break”, that’s never really true. Their mind is always on something, whether it be a client project, the next invoice or what performance is going to be like in the next quarter. Recent…

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Business Exit Strategy

Creating a Business Exit Strategy [+6 Ways to Do It]

7 December 2021

A business exit strategy is important to understand at any stage of running a company.  You may have heard about the need to develop an exit strategy, but you’re unsure exactly what it is. You may not know if you really need one. You may have heard that there are different types of exit strategies, but you’re not sure which one is…

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Director's ID

Director IDs are Here: Here’s What You Need to Know

23 November 2021

Director identification numbers (simply called Director IDs) are now compulsory for Australian company directors. From November 2021, the 2.7 million company directors across Australia have now been required to apply for their Director IDs. This is a significant change to Australia’s company regulations, and penalties apply for directors who don’t register within the required timeframes.  If you’re a director of a…

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Compliance vs risk management: what’s the difference?

Compliance vs risk management: what’s the difference?

13 October 2021

Risk management is one of the fundamental principles of good governance, and so is staying compliant with industry-specific requirements and expectations.  In the minds of many, compliance and risk management are considered the same business process. But they are activities – both of which need to be managed effectively.  Understanding compliance  Compliance relates to how your company fulfills operational obligations. Whatever your business or industry, there…

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Covid Freedom Capture

3 Immediate Steps your Business Must Take to Thrive in a Post-Covid World

12 October 2021

For business owners, the far-reaching effect of the pandemic isn’t news anymore. COVID-19 has been detrimental for the Australian economy more so than anyone expected. Last year, it was reported that one in 10 businesses halting trading, with 70% alone attributing this to the pandemic. The whole ordeal has created a clear scar now deeply…

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Xero vs MYOB vs Quickbooks: What Do I Choose?

Xero vs MYOB vs Quickbooks: What Do I Choose?

28 September 2021

As a business owner eager to manage your money, you’ve probably heard of all the different bookkeeping programs on the market. If you’ve decided that now is the time to invest in an accounting software to keep your finances in order, that’s great – power to you. But the problem is this: there are just so…

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Growing Cash

How to Manage Your Cash Flow + Grow Your Business. At the Same Time!

14 September 2021

What counts that we are not counting? Chip Conley, head of global hospitality for Airbnb Cash flow management isn’t just essential to keeping your business above water. It’s critical for your business to actually grow and thrive. In a time when Australia is facing economic uncertainty in light of the COVID-19 pandemic, it’s now more…

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MyGov Scams: How to Safely Avoid Fraud in 2021

31 August 2021

As we approach tax time every year, scores of fraudsters zoom into the picture with the sole aim of ripping off hardworking Australians – including now through MyGov scams. It’s already a hectic time for many. Individuals and businesses are all scurrying to get their finances ready for the new financial year. Con artists and…

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Why You Must Outsource Non-Core Business Activities

17 August 2021

Outsourcing non-core business activities is not just an option for business-owners anymore. It’s an absolute must. When running a business, it becomes so easy to get caught up in your day-to-day activities that you become distracted from actually growing your business. As any entrepreneur will know, running a business comes with a great deal of…

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2account Blog

Your Business’ Financial Health Check for the 2021 Financial Year

3 August 2021

In the midst of the global health and economic crisis, there’s never been a more important time to ensure your business finances are healthy. The COVID-19 pandemic has placed an unprecedented strain on the wallets and bank accounts of millions of individuals and their businesses. Tens of millions of job losses. Savings tapped into. Business…

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