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Business Start-Up ~ Getting your Accounts/Books Organised

images/SmallBusinessReport.jpgThe other night at a local Meet-Up (www.meetup.com) we had an interesting discussion about mistakes in business. In particular, one topic was - Whether to pay outright or borrow for stock/equipment?

One business owner gave a situation where he was paying outright for equipment that would be sign-written to advertise another business (he organized advertising for businesses). The issue was that spending $10,000 on the equipment (truck side curtains) took all the spare money the business owner had, while the payment for the advert was monthly over a multi-year contract.

Hindsight showed that it would have been better to get a loan for the equipment, then add his mark-up for the advert and service on top of the monthly re-payments, and he would still have his $10,000 to use for cashflow and marketing.

Have you had a similar experience?

What Better Business Decisions can you share?

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!

For more business tips, see www.accountkeepingplus.com.au

Accounting Software Australia, MYOB, Quickbooks, accounts software, bookkeeping software

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Accounting Software Australia, MYOB, Quickbooks, accounts software, bookkeeping software
Accounting Software Australia, MYOB, Quickbooks, accounts software, bookkeeping software
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