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Business Tips – Some ways to avoid small business burnout

images/BusinessTips.JPGHere are some timely reminders from John Corias at Flying Solo that we business people can consider in order to avoid burnout – and as usual the obvious is often the solution, but DOING it is another thing!

Use tools and outsource

One thing that many micro business owners have in common is the realisation that running a business is harder and more involved than first thought. To make life easier, it’s important to use all the available tools at your disposal, as well as outsource wherever you can. Perhaps this means using Xero, (and MYOB Essentials or Reckon) to automate debtor chasing, pre-scheduling social media posts or using experts so you can focus on your own expertise. Outsourcing also has the added benefit of getting an outsider’s viewpoint on your business. New ideas can be invaluable. If you think you can’t afford to outsource, consider that outsourcing can help to grow your business.


Too many business owners are afraid of taking leave in case their businesses fall apart. But that situation is extreme. Getting away from your business, clearing your head and coming back with a fresh perspective can reinvigorate your passion and inspire new ideas. Not only that, spending time with family, aside from the obvious benefits, can also have real tangible health benefits.


Creating documented processes for as much of your business as possible gets your business out of your head.

A great tip for the newbie business owner is to start this process from the very outset, even if you think you don’t need it yet. Keep the unnecessary out of your head and in documented procedures. Creating documented processes also makes it easier for you to take holidays, because you know that your process will be followed when you’re away.

Partner/sounding board

For the soloist, burnout can come earlier than for small business owners who have partners and staff to bounce ideas off and share the load. Every solo business owner must have a sounding board, such as a business coach, mentor, accountant and business support group. Tip: It’s preferable to find someone who doesn’t have a financial interest in your business, as this may cloud their judgement in terms of making changes that only affect themselves.

Stick to what you know

Our final point is to not forget the primary reason you started your business. Don’t let yourself be bogged down in the administrative and non-core aspects, it’s a guaranteed path to burnout.

Leave the burnouts to the young guys in loud cars, and focus on working smarter in order to enjoy a healthier business and life.

What tips do you have to avoid burnout?

Need help? Not sure?

Call for FREE 30min advice / strategy session today! Aus +61 407 361 596

and also get FREE “Avoid these GST mistakes” – There’s 18 that the Tax Office see regularly – Get them right!

Call for FREE 30min advice 0407 361 596

or click for the list of our articles.

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Business Tax Tip – Starting a Business – ATO resources to help

images/Business Tax Tips.PNGThe Australian Tax Office (ATO) has plenty of information on starting your own small business. The focus is the less-exciting things – the tax and possible super responsibilities – if ignored they can close your business due to insolvency – inability to pay liabilities. So here are some tips they provide –

When you start a business, there are tax and super responsibilities you need to be aware of, including:

o    the tax implications of your business structure;

o    whether you're entitled to an ABN;

o    registering your business;

o    records you need to keep;

o    deductions you can claim.

We provide information about the key things you need to know and do when starting your own business.

Before you get started

As you get your business up and running, there are a few things you may need to consider, including:

o    when your tax and other obligations start - this will depend on whether you are in business yet;

o    the implications of the structure you choose – tax and legal;

o    the location of your business (such as working from home).

Find out about:

o    Are you in business?

o    Choosing your business structure.

Getting up and running

As soon as your business is running you’re going to face new obligations. Understanding what you need to do from an early stage will help you stay on top of things.

Registering your business

When you start your business there are a number of registrations you need to consider.

See also:

Record keeping

You need to set up a good record keeping system to track your income and expenses right from the start. This helps you know how your business is going, as well as meet your tax responsibilities and be able to claim all the deductions to which you are entitled.

See also:

Hiring workers

If you're thinking of taking on workers it's important to understand you will have extra responsibilities. For example, you may have to:

  • deduct tax from their pay and send it to the ATO;
  • pay super contributions to their nominated super fund; and
  • pay fringe benefits tax if you provide them with benefits in addition to their wages.

See also:

Reporting and paying tax

As soon as you start up your business, you need to plan for how you will pay the tax you will owe each year when you lodge your tax return.

Paying tax in your first year

In your first year of business, you can stay on top of your obligations by:

  • making tax pre-payments into your tax bill account;
  • putting money aside for your expected tax bill;
  • voluntarily entering into instalments.

See also:

Paying tax by instalments

Once you lodge your first income tax return and report a tax-payable amount above a certain threshold, you will automatically enter the pay-as-you-go (PAYG) instalment system.

If you voluntarily enter into instalments prior to lodgment of your first tax return, you will be able to make quarterly payments towards you tax bill.

See also:


Once you’re up and running, you'll need to report your business income and other tax information. The key reports you should be aware of are:

  • Business Activity Statement (BAS)  -
    • the main taxes you will report on will be GST (if you’re registered for GST),
    • any tax you withhold from employees’ pay,
    • instalments towards your own tax once you are in the pay as you go instalments system.
  • Income tax return  -
    • to report your personal and business income and claim deductions.

Most of your business reporting can be done online.

Next steps:

Tax basics for small business video series

If you are starting a new business, or already running one, this series of short videos will help you understand your tax and superannuation obligations.

The series follows a landscaper operating as a sole trader (Jason); two web designers in a partnership (Fiona and Greg); and a café owner running her business through a company (Mary) as they take you through some of the tax issues they came across when they started their business.

Watch: the short videos at Tax Basics for Small Business, that explain what the series of videos are about and how they can help you.

Need help? Not sure? New or just Starting in Business?

Call for FREE30min advice / strategy session today!

Call 0407 361 596 Aust

Call for FREE 30min advice 0407 361 596

or click for the list of our articles.
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Accounting Software Australia, MYOB, Quickbooks, accounts software, bookkeeping software
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