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Newsletter November 2007 |
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Welcome to our November 2007 newsletter! In this month's newsletter: News from CEO David Baumgarten 2007 BEC Australia Awards for Performance How to deal with ATO issues Bayside Business Newsletter now online Speak up, speak out, speak well -- demand attention!
To find out more and book online see our Networking Calendars:
News from CEO David Baumgarten It is 'Oscar' time in the small business world; the time of year when small business practitioners frock up for the many award nights held around the country. During the month we participated in the judging and award presentations of the BEC Australia Awards for Performance, the National NEIS Association Business Awards, and the 2007 True Local Business Awards. Congratulations to all finalists and winners. Some of these presentations were held at the annual Small Business Development Conference in Perth. More than 250 representatives from small business; local, state and Federal government agencies; and corporate Australia enjoyed the conference. During the month I was a speaker at the Economic Development Association conference at Cockle Bay. This association is the professional body for economic development managers in councils and area consultative committees. It was pleasing to see a good attendance at the final 2007 Burwood Business Breakfast on 10 October. There are two breakfasts organised for November: the Combined Chambers of Randwick breakfast on the 13 November and the Newtown Business Breakfast at Petersham RSL on 20 November. In closing, I would like to welcome to my team new client liaison officer Noel Johnston. Enjoy the race to the end of the year, and I hope to catch up with you soon. David Baumgarten
2007 BEC Australia Awards for Performance I am happy to report that we had a very successful night at the annual BEC Awards, being represented in four categories and taking away two major awards. More than 200 business practitioners and guests gathered at the gala dinner of the Small Business Development conference in Perth. On the night, BEC Australia presented the 2007 BEC Australia Awards for Performance. The aim of the awards is to highlight the excellence that exists within the national BEC network. Our awards results are below. The business.gov.au award for Best BEC Manager Finalists:
Winner: David Baumgarten The HP Award for Best Home-Based Business Finalists:
Winner: Natural Consulting (nominated by Eastern Suburbs BEC). Congratulations also to Six Hands, a finalist in the business.gov.au Award for Best New Business, nominated by Eastern Suburbs BEC. For more results visit BEC Australia at www.beca.gov.au. Back to Top
Burwood Business Breakfast, 10 November Winners of the 2007 National NEIS Association Business Awards were also announced at the Small Business Development Conference. The awards were presented by Gerard McDermott, representing AAMI Business Insurance, the proud sponsor of the awards. Winners were: Best New Business: FLIPP Management, nominated by Eastern Suburbs BEC Best Growth Business: Blundell Propoerty Management, nominated by Australian Business Development Centre AAMI NEIS-Change Award: Speed Thinking, nominated by RMIT Unsung Hero: David Rozynski, nominated by Mission Australia Toowoomba.
The 2007 Truelocal Business Awards Congratulations to the team at Cumberland Newspapers, who presented the 2007 Truelocal Business Awards in October. The Glebe, Canterbury--Bankstown Express and Inner West Weekly papers were all involved in the awards, which recognised outstanding success in their local business areas. The Business Enterprise Centre helped judge and present awards on behalf of the State Government (through the Sydney Business Advisory Service). The standard of applications was very high, and the excitement of the finalists on the awards night was electric. I strongly recommend that eligible businesses consider entering these awards next year.
By Michael Quinn, director of The Quinn Group. Audit and compliance-related issues Every year the ATO will conduct audits to ensure that entities comply with tax laws. The ATO can also check the accuracy of information that businesses provide. Under the tax laws, the ATO has formal powers to ask a person to provide information, to attend and give evidence, or to produce any books, documents or other papers. Types of audits For small-medium businesses, ATO audits will mainly cover four areas: Capital Gains Tax (CGT), Goods and Services Tax (GST), Pay As You Go (PAYG) Tax and Company Tax. Each year the ATO releases a report in which it outlines specific taxation issues that it will focus on. For example, in company tax audit, non-compliant practices such as under-reporting income, profit shifting, misclassifying losses and other unlawful practices will be targeted by ATO this year. Non-compliance found by the ATO will result in penalties. For example, under the PAYG withholding regime of the new tax system there is an expanded listed of payments from which a person is required to withhold amounts. A penalty is imposed where a person fails to withhold the required amount. Failure to lodge on time Businesses are required to lodge their income tax returns, monthly and quarterly activity statements, FBT returns, PAYG withholding annual reports and GST returns on time. An administrative penalty is imposed for failing to lodge on time at the rate of one penalty unit for each period of 28 days or part thereof that the document is overdue, up to a maximum of 5 penalty units. The current value of a penalty unit is $110. Tax agents can apply for additional time to lodge approved forms on behalf of their clients. As you can see, the ATO can be very complex to deal with. If you receive correspondence from the ATO, advising of an audit, you should seek professional taxation advice. Michael Quinn is an experienced lawyer, accountant and educator. For more information visit www.quinns.com.au or telephone 1300 QUINNS (784 667).
Business loans for start-ups and small businesses NAB is offering unsecured business loans from $500 to $20,000 for people on low incomes who have few or no avenues to access affordable business credit. NAB supplies the loans on a not-for-profit basis. Key features of the NAB Microenterprise Loan include:
Loans are available to help start up or support existing businesses of five or fewer employees, including those that are owner-operated or the home-based business. If you are unable to get a normal business loan through a bank, and you have a sound business idea, you may be eligible for a NAB Microenterprise Loan. One of the ways you can get a NAB Microenterprise Loan is via the Enterprise Start Program, offered in conjunction with Business Enterprise Centres Australia (BECA). Your BEC will work with the BECA to help you update your business plan and financials to apply for a NAB Microenterprise Loan. Download information brochure .
10th Annual Businesswomen's Seminar and Expo Day On Saturday 10 November, the Australian Businesswomen's Network will present the 10th Annual Businesswomen's Seminar and Expo Day. Women business owners from around Australia will gather at the Australian Technology Park in Sydney to learn from inspiring, successful role models, and to network. This event combines presentations by some of the country's leading entrepreneurs, practical business skills workshops, and an exposition showcasing products and services pertinent to small business. Workshop subjects include:
Learn more at www.abn.org.au/expo2007.
Bayside Business Newsletter now online Canada Bay Council's Spring 2007 newsletter is now available on the Clearly Business website. To read about the recent Inner West Small Business Awards and the forthcoming City of Canada Bay Council Sustainability Awards, download the Bayside Business Newsletter from our website.
Attracting and retaining staff Newtown Business Breakfast, 20 November In a low unemployment environment, it is becoming even more difficult for small and medium sized businesses to attract and retain top talent. With large employers able to offer attractive salary and benefit programs, SMEs are often unable to present an attractive offer to good candidates. In this presentation, we discuss the professional human resources approach of large employers, highlighting the opportunities that SMEs have to implement similar initiatives with little cost. To find out more and book online see our Networking Calendars:
2007 Bankstown Industry and Export Awards
These awards are an initiative of Bankstown City Council and Bankstown Sports Club. The major award for 2007 is the Bankstown Business of the Year and includes a prize to the value of $5,000. All companies that lodge applications in the 2007 Awards will receive four (4) complimentary tickets to the awards night celebration on 12 December 2007. Important dates for the 2007 programme are:
Further information contact Graham Humphreys 9707 9483 or graham.humphrys@bankstown.nsw.gov.au
Speak up, speak out, speak well -- demand attention! We all have opportunities to speak about our businesses - sometimes for 60 seconds, sometimes for 10 minutes or longer. We often don't give ourselves the chance to become good presenters, because we let these opportunities to speak up pass us by. Your voice and body are powerful communication tools, able to express a wide range of subtle nuances and meanings. To find out more and book online see our Networking Calendars:
Being a child friendly business What is a child friendly business? Child friendly businesses and organisations recognise that sometimes people need to shop with prams, wheelchairs and young children, and that some people have more difficulty than others in using commercial and retail services. Why is being child friendly good for business? For many people, the experiences of children, shopping and community life are linked. Families need to shop and eat, and many studies point to children as having increasing influence over their family's spending patterns. Good access makes good business sense! Download a guide to being a child-friendly business, supplied by City of Canada Bay.
November rack rates - meeting and training rooms Each month we will advertise our city meeting rooms and training rooms that are available at 'rack rates'. Training room Ground floor 19th Level Normally $440 per day (GST inc), In November take advantage of the special one day rack rate of $220 per day (GST inclusive). Visit www.clearlyoffices.com.au for more information. Meeting Rooms Nil.
Newsletter edited by Harvest Communication |
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