S & H Tax Accountants

Author: Parry Hehar

  • Understanding and improving working capital

    Understanding and improving working capital

    When it comes to running a thriving business, understanding and effectively managing your working capital is crucial. Essentially, working capital is the cash readily available for the day-to-day running of operations. The more protracted the business cycle, the higher the working capital requirement tends to be. Your goal? To ensure you have enough working capital on hand to cover operational expenses, with a reasonable buffer in place.

    How to improve your working capital

    Feeling anxious about your working capital? No worries! To improve it, let’s start by figuring out how much working capital your business actually needs. By using cash flow forecasting, you can proactively calculate when you might run out of cash and determine the minimum capital required to avoid that situation.

    Ways to reduce working capital needs

    The key to reducing your working capital needs revolves around cutting down on expenses. Here are some strategies to consider.

    • Limit large personal withdrawals.
    • Avoid buying major assets out of daily operating profits. Remember, there are other financing options available, such as leases or loans.
    • Refrain from overtrading, which can lead to increased overhead costs and delay customer payments.
    • Assess your inventory costs. Think twice before placing bulk orders, even if it comes with a discount.
    • Simplify payment collection. Explore mobile and online options to make it easier for customers to settle their bills.

    Shortening cash cycles

    Another effective strategy is to shorten your cash cycles.

    • Collect money quickly and efficiently.
    • Negotiate better terms with suppliers. Paying your bills faster than your customers are paying you can lead to an unnecessary increase in working capital.

    Forecast your cash flow and profit-and-loss

    Accurate cash flow forecasts can provide valuable insights into your working capital, allowing you to take proactive steps for improvement. Profit-and-loss forecasts, on the other hand, help assess future profitability, enabling you to make informed decisions about your working capital needs.

    Wrapping Up

    The goal is to lessen working capital concerns by understanding what it is, how much you need, and ways to improve it. Once these processes are in place, managing your working capital will become second nature, allowing you to focus on growing your business and boosting profitability.

    Remember, it’s always beneficial to consult with your accountant regarding your working capital needs and possible improvement strategies.

    We’re here to help – get in touch now.

    Making sure that you have effectively managing your working capital, can be a little confusing and stressful at times. That is why S & H Tax Accountants are here to help, we are one the best accounting firms in Cranbourne. S & H Tax Accountants offer business consultations to their clients. Our team of accountants aim to provide our clients with the best level of services to all of our clients. Our accountants are well-qualified and vastly experienced. Make a booking today at S & H Tax Accountants, call us at 03 8759 5532 or email us info@sahtax.com.au.

     

     

     

  • Essential bookkeeping practices for start-ups

    Essential bookkeeping practices for start-ups

    Starting a new business is exciting, but it also comes with its fair share of responsibilities. One of the most critical responsibilities is maintaining accurate records of your business transactions. From saving receipts to processing employee payroll, every money-related detail should be documented. It’s not just about keeping things tidy; it’s about understanding the financial health of your business and meeting all your tax obligations.

    Don’t underestimate the basics

    Some small businesses continue to rely on traditional systems, like pen, paper, and a trusty shoebox. Although it may seem outdated, this method can work well for businesses with very few transactions. These businesses might not have the latest payment technology, and could be invoicing customers or receiving immediate cash or cheque payments. In such cases, they would need to maintain a record of all receipts, past, present and future jobs, as well as a log of their customers and transactions.

    Of course, if you’re serious about your business, you might want to consider using a more accurate system.

    The power of spreadsheets

    In the digital age, spreadsheets offer a simple and effective way for start-ups to keep track of their financial activities. When you’re just starting or operating a part-time business with a limited budget, a spreadsheet can be a cost-effective alternative. As your business grows and becomes more complex, you can transition to specific accounting software.

    With a spreadsheet, you can set up a basic accounting system to track invoicing, perform calculations, and even set up a budget.

    Embrace accounting software

    For those more serious about their business, subscribing to accounting software might be the best option. Modern accounting software often links directly to your bank account, making it an efficient way to document all necessary transactions. It also reduces the risk of errors and offers features like generating professional invoices, tracking debts, and ensuring everything is entered accurately for your accountant at tax season.

    If you opt for a cloud-based solution, you’ll enjoy real-time access to your accounts, increased data security, and the flexibility to access your financial data anytime, anywhere.

    Stay on top of your cash flow

    Regardless of the accounting system you choose, a good system will enable better decision-making based on real-time financial insights. Identifying cash flow trends can help drive your business growth by revealing your most profitable products and services, your biggest customers, your highest costs, and more. The ability to monitor these trends places you in a better position to improve your profits and spot potential areas of growth.

    Wrapping up

    As a start-up, your primary task is to evaluate your business needs and choose an accounting system that allows you to track your cash position accurately, keep precise records for tax purposes, and identify cash trends.

    Consulting with your accountant can be an invaluable first step. They can offer advice on the best system to use and ensure it’s compatible with their processes. Remember, your financial records are the lifeblood of your business, and keeping them in perfect order is integral to your success.

    Want to discuss what system will best suit your needs? Contact us now for advice.

    Bookkeeping is an essential part of a business, as it helps a business to stay organised especially when it tax season. S & H Accounting offers the service of bookkeeping. We understand that keeping a track of every purchase and sale can be tiring and stressful. Our team consists of amazing staff whom are vastly experienced and well-qualified. Wo aim to provide the best level of service possible to our clients, as our priority is your growth. Book an appointment today with S & H Tax Accountants, contact us on 03 8759 5532 or you email us info@sahtax.com.au

     

  • Differences between BAS and IAS

    Differences between BAS and IAS

    Running a business comes with a lot of financial responsibilities, and as a business owner, you’ve probably come across terms like BAS (Business Activity Statement) and IAS (Instalment Activity Statement). While they may sound similar, understanding the differences between these two statements is crucial for maintaining compliance and staying on top of your tax obligations. In this article, we’ll break down the nuances of both BAS and IAS and provide actionable advice to help you navigate through them with ease.

    So what is BAS?

    Let’s start by demystifying the BAS, shall we? The Business Activity Statement is a form that all Australian businesses use to report and pay their tax liabilities. It’s a summary of all the business taxes you have paid or will pay to the government in a specific period. It can include the following payments, if they apply to your business:

    • GST
    • Pay as you go (PAYG) income tax instalment
    • Pay as you go (PAYG) tax withheld
    • Fringe Benefits Tax (FBT) instalment
    • Luxury Car Tax (LCT
    • Wine Equalisation Tax (WET)
    • Fuel tax credits

    If your business is registered for GST, you’ll need to lodge a BAS. If your business turnover is less than $20 million, you can choose to lodge monthly or quarterly. If your turnover is more than $20 million, you must report monthly.

    BAS statements are issued by the ATO either monthly or quarterly. A form needs to be lodged with the ATO and payment made to the ATO by the due dates as follows.

    For monthly BAS: within 21 days of the end of the month on the form
    For quarterly BAS: as above for IAS

    Understanding IAS

    Now, let’s look at the Instalment Activity Statement (IAS). While the IAS may seem similar to the BAS, there are some key differences you should be aware of.

    The IAS is the simpler of the two forms and is only issued quarterly. It’s without GST and some other taxes. Businesses that are not registered for GST, and individuals who are required to pay Pay as You Go (PAYG) instalments or PAYG withholding (such as self-funded retirees), use this form to pay PAYG. The ATO will tell you what your GST instalment amount is and if applicable, what your PAYG instalment amount is.

    The instalment amounts will be payable as follows:

    IAS Key Dates

    • July – September Quarter is due 28 October
    • October – December Quarter is due  28 February
    • January – March Quarter is due 28 April
    • April – June Quarter is due 28 July

    How to Navigate BAS and IAS

    Understanding the differences between BAS and IAS is one thing, but knowing how to tackle them effectively is another. Here are some actionable tips to help you navigate through these statements with confidence:

    • Stay Organised: Maintain accurate records of your business’s financial transactions, including sales invoices, purchase receipts, and tax-related documents. This ensures that you have all the necessary information when it comes time to complete your BAS and IAS.
    • Use Online Accounting Software: Consider using accounting software to streamline the process of preparing and lodging your BAS and IAS. These tools can automate calculations, track your GST obligations, and generate accurate reports, saving you time and reducing the risk of errors.
    • Seek Professional Guidance: If you find the complexities of BAS and IAS overwhelming, don’t hesitate to seek help from a qualified BAS or Tax Agent who can lodge these form for you. They can provide personalised guidance, ensure compliance, and help you maximise your tax benefits.
    • Stay Informed: We keep up-to-date with the latest ATO guidelines and regulations related to BAS and IAS. The ATO website offers valuable resources and updates that can keep you informed about any changes that may affect your business.

    Wrapping Up

    Understanding the differences between BAS and IAS can help you run your business with less stress. And staying on top of your BAS and IAS requirements not only keeps you compliant but also sets a solid foundation for your business’s financial success.

    We’re here to help you navigate the world of business, BAS and IAS. If you have a question, please don’t hesitate to get in touch.

     

    These two statements are very important to businesses, as the BAS is the summary of all of the businesses taxes that you have paid in that specific time period, usually quarterly whereas the IAS does not have the GST tax and some other business taxes. If your business needs help in completing these forms, then please feel free to contact S & H Tax accounting. Our team consists of experienced and very well-qualified accountants, who always aim to provide you with the best level of service possible. Book a business consultation with S & H Accountants today, call us at 03 8759 5532 or email us at info@sahtax.com.au.

  • Unravelling the mystery of missing profits: A guide for new business owners

    Unravelling the mystery of missing profits: A guide for new business owners

    Starting a business is a wild ride with its fair share of ups and downs. One hurdle many new entrepreneurs encounter is the difference between the profits they expected and the hard cash available at the financial year-end. This guide aims to alleviate these concerns by shedding light on where your missing revenue might be hiding.

    Possible causes of missing profits

    There may be several reasons why your business has shown good performance throughout the year, yet there’s little cash to show for it in the end. Here are a few possible places your profits could be lurking:

    1. Unsettled debts: Some of your customers might have acquired your products or services without paying yet.
    2. Inventory: Your profits might be tied up in unsold stock or raw materials, especially if you buy in bulk.
    3. Asset acquisition: If you’ve purchased new assets like a work vehicle, these expenses are depreciated over several years and not all claimed in the year of purchase.
    4. Owner withdrawals: Balancing the amount of profit you withdraw from your business for personal use can be tricky.

    Navigating financial statements

    One of the key components to understanding your financial situation is your profit and loss statement. This document represents your business’s income and expenses over a given period, whether these transactions have been completed or not. This means that sales or purchases made on credit are included, which can create a disparity between your profit figures and actual cash on hand.

    Bridging the gap

    To bring your financial statements closer to your actual financial situation, regularly review your debtors. Vigilance in following up payment requests and taking action for late payments is essential. Additionally, using a cloud-based accounting system to track transactions in real time can aid in timely decision making.

    Dealing with creditors and debtors

    Businesses often have customers who pay on credit, as well as suppliers who offer credit for purchases. This can lead to a time lag between the record of transactions and the actual monetary exchange, increasing the figures in your ‘Sales’ and ‘Cost of Goods Sold’ (COGS) categories while your bank account remains stagnant.

    Understanding COGS

    COGS represents the direct costs involved in creating or acquiring the goods you sell to customers. This includes the initial inventory, purchases made during a specific period, and the inventory left at the end of that period. Other costs like freight, storage, and factory overheads could also be included.

    The role of reinvestment and owner withdrawals

    In a bid to expand their operations, businesses often reinvest their profits. This reinvestment could take the form of increased stock, debtors, or capital expenditure. On the other hand, excessive withdrawals by the business owners can restrict growth and deplete cash reserves. It’s essential to set sound budgets for each owner to prevent drawing too much profit.

    The Bottom Line

    If you’re facing a fiscal year-end with profits but no cash in hand to pay your taxes, don’t panic. Dig deep into your financials to uncover if your cash is tied up in extra stock, debtor accounts, or new assets. Managing a business is a journey, and understanding these financial intricacies will empower you to navigate it better.

    Contact us for a deep dive into your financials.

    Managing the financial aspect of a business can be one the most difficult parts of handling a business. However, S & H Tax Accountants offer services such as business advice. Our team understands that this requires a lot of effort, thus can cause a lot of stress for our clients, that is why we are here to help. We are known for our well-qualified, experienced and extremely dedicated staff, who aim to fulfil your needs to best possible level. Make a booking today with one our clients, call us at 03 8759 5532 or you can email us at info@sahtax.com.au

  • Decoding the language of financial ratios

    Decoding the language of financial ratios

    As a small business owner, you’re likely already wearing many hats. But the hat of a financial analyst might seem a little oversized, particularly if your background isn’t in finance or accounting. However, understanding financial ratios can be a game-changer for your business, helping you assess your business’s financial health and make informed decisions.

    Financial ratios: what are they?

    Think of financial ratios as a thermometer for your business’s financial health. These are calculations that compare one item in your financial statements to another. For instance, how much current assets you have compared to liabilities, or the percentage of each dollar of sales that remains after all expenses have been deducted.

    They reflect the financial relationships vital to your business operations.

    The power of financial ratios

    To harness the power of financial ratios, it’s important to understand the financial relationships they represent and the implications for your business. Unless you are well-versed in accounting principles, consider engaging an accountant or bookkeeper to help you interpret these ratios.

    The ratios that matter

    Let’s delve into some of the key financial ratios every small business owner should know:

    1. Current ratio: This ratio measures your business’s liquidity. A higher current ratio indicates efficient cash management and the ability to meet short-term obligations. If your current ratio is less than 1:1, it might be a signal that additional financing is needed to meet upcoming commitments.
    2. Return on equity ratio: This ratio offers insight into the returns your business is generating for its owners. It’s an efficiency indicator, showing how effectively your business uses its owners’ money.
    3. Gross profit margin: This ratio helps understand the relationship between your sales and cost of goods sold. A low gross profit margin could indicate weak product demand or need for better cost control.
    4. Net profit margin: It’s the percentage of each dollar of sales remaining after all expenses. It’s a critical indicator of your business’s expense management capabilities.
    5. Debt to equity ratio: This ratio compares the financing you’ve received from creditors to the amount invested by the owners. It highlights the balance between debt and equity in your business.

    The journey of understanding financial ratios might seem like traversing uncharted territories, but it’s a journey worth embarking on. Decoding the language of financial ratios can provide invaluable insights into your business’s financial health.

    If you’re feeling overwhelmed by the intricacies of financial ratios, don’t worry. We’re here to help!
    Feel free to contact us and leverage our expertise.

    These Financial Ratios help a business to understand their financial position and thus leads to better decisions to be made. S & H Tax Accountants are always here to help their clients with any of their business inquiries. Our Team consists of hardworking, extremely qualified and vastly experienced. We aim to make sure that all of our clients are provided with the best level of service. Make a booking at S & H Tax Accountants, call us at 03 8759 5532 or you can email us at info@sahtax.com.au

  • Avoid These 5 Costly Accounting Mistakes

    Avoid These 5 Costly Accounting Mistakes

    A Canadian bank recently surveyed over 500 small business owners about what they love and hate most about owning their own business.

    Unsurprisingly, flexibility and feeling in control ranked first in the “love” category. Meanwhile, almost 60% said bookkeeping was hands-down their most hated task.

    Most business owners understand that effective financial management is key to their success. But lack of knowledge, frustration, and even avoidance can add up to accounting mistakes that derail future growth.

    Protect your business and reduce your stress by avoiding these five costly accounting errors.

    Mixing personal and professional finances

    From day one, business owners should have a separate bank account in which to deposit their income and pay their business expenses.

    It’s also crucial to designate a business-only credit card. Come tax time, separate statements will make submitting claimable expenses quick and easy, while reducing the risk of a painful audit.

    Letting accounts receivable slide

    It’s frightening easy to lose track of which customers have paid you and which clients are late. Implement a strict policy and schedule for tracking accounts receivable and pursuing unpaid invoices.

    • ask customers to pay at the point of purchase or no more than 30 days later;
    • contact clients to confirm they have received your invoice and to agree on a payment date;
    • follow up immediately when payment dates are missed; and
    • keep accurate, up-to-date records of each client’s payment history.

    Investing in a cloud-based accounting solution can make AR a breeze by automating your monthly invoicing – and contacting late payers with a reminder email.

    Not using tech to track your expenses

    Tired of chasing down missing receipts and struggling to justify claims come tax time? There’s an app for that! Choose from numerous options, such as Receipt Bank, Shoeboxed or Expensify.

    Many of these apps generate expense reports that are easy to share, or sync automatically with accounting software.
    Neglecting to strategize for long-term growth

    Effective accounting means managing day-to-day finances while making provisions for future growth. Software and cloud-based solutions offer easy ways to track your financials, but they also generate reports and provide analytic tools SMB owners can use for future forecasting.

    Familiarize yourself with the reports your software can generate to track long-term trends, identify and mitigate risk, and discover new ways to increase profitability. Talk to your accountant about which reports and metrics are most important for your particular business and how to utilize them.

    Final tip: Don’t go it alone

    Small business owners are rarely trained accountants. Don’t try to manage your company’s finances all by yourself.

    Collaborate with a trusted professional, invest in quality IT solutions, and spend some time familiarizing yourself with relevant tools and trends.

    You’ll feel empowered, which is step one to forging a more love-filled relationship with small business accounting!

    Keeping a track of your finances, whether it be for a business or an individual. S & H Tax Accountants are always here to guide you along the way, we have an exceptional team that always aim to provide you with the best level of services possible. Our accountants are well-qualified, punctual and vastly experienced. To make a booking today, call us at 03 8759 5532 or you can email us ta info@sahtax.com.au

  • 5 essential steps to crafting a solid business plan

    5 essential steps to crafting a solid business plan

    Creating a robust business plan is crucial to the success of any startup. It not just provides a roadmap for your business, but also helps to attract potential investors.

    Here’s a practical guide to help you put together your business plan.

    • Gather Relevant Information

    Start by collecting all the necessary information about your business. This includes understanding who will run the business, who will advise you, and a thorough analysis of your industry, competition, and target market. Remember, more data is always better. Even if you don’t use all the data you collect, it’s helpful to have it at your disposal.

    • Crunch the Numbers

    Nothing validates your business idea better than concrete financial figures. Your financial plan should include your projected revenue, expenses, and profit or loss. These can be presented in the form of an income statement, a cash flow forecast, and a balance sheet.

    • Write the Body of the Plan

    Once you have your numbers, it’s time to delve into the strategy behind them. This is where you explain your business concept, market analysis, marketing strategies, operations, and management team. Each section should be addressed in detail, providing in-depth insights into your business.

    • Seek Feedback

    Sharing your draft business plan with industry experts and potential investors can provide invaluable feedback. You want these individuals to challenge your strategies, question your numbers, and put you on the spot. This will only make your business plan stronger.

    • Edit and Tighten

    Less is more when it comes to a business plan. After receiving feedback, take the time to revise and refine your document. Look for areas where you can tighten your thinking, clarify your intentions, or remove unnecessary sections.

    Creating a solid business plan requires thorough preparation, detailed financial analysis, and a meticulous review process. Remember to keep your business plan concise, focused, and visually appealing. Your business plan is a reflection of your business idea, and a well-crafted one can open doors to numerous opportunities.

    Need help with your business plan? Get in touch with us today

    Having a well thought out and concise plan can really help a business to succeed. As it was mentioned above that a business plan is combination of numbers and strategies, however we understand that it can be a little difficult to understand. S & H Tax Accountants is the firm that you need. Our team is known for their punctuality, experience and the level of service that we provide our customers. Book an appointment today call us on 03 8759 5532 or email us at info@sahtax.com.au.

  • Navigating financial pressure: a guide to asset liquidation for your business

    Navigating financial pressure: a guide to asset liquidation for your business

    Every business encounters financial challenges at one point or another. But when the going gets tough, just remember that you’re not without options. One practical strategy that can help you weather the storm is asset liquidation.

    Asset liquidation is a process of converting your business’s tangible or intangible assets into cash, providing you with the vital liquidity to bridge financial gaps until your business recuperates. However, this strategy demands careful planning and swift action. An accurate asset register aids in making informed decisions about what assets to sell off.

    Asset Liquidation: The four principal categories

    Broadly speaking, business assets that could be converted to cash fall under four categories:

    • Current Assets

    These include items that can be sold quickly for cash. If these assets aren’t essential to your operations, they can be used to cover immediate expenses, buying more time for recovery. Examples include accounts receivable, existing inventory, raw materials, manufacturing and packaging supplies, short-term investments, and offshore funds.

    • Fixed or Long-Term Assets

    Fixed assets are typically more costly and last for over a year. These can be streamlined and sold if they’re no longer required. If you own property, equipment or vehicles that are still needed, consider selling the asset for immediate cash flow and then leasing back.

    • Intangible Assets

    These are typically more challenging to value and sell due to their nature. They include intellectual property, goodwill, brand, and business ‘know-how’. While they are crucial to your business, selling them may be an option if the situation is critical.

    • Other Business Interests

    If parts of your business aren’t crucial to its core operations, they could be sold off without causing disruption. This includes underperforming divisions or non-core products or markets.

    A caution

    Remember that the liquidation value of an asset is typically below market value. Consider all options carefully before selling off valuable parts of your business. Always seek legal, financial, and business advice before making decisions that impact your long-term future.

    Your business has the resilience to weather financial storms. You just need the right strategies to navigate these challenging times.

    Consult with us if you’re unsure about the best course of action.

    When starting a business, it very important that the business owner has analyzed their financial position, such as their assets. S & H Tax Accountants offer business consultations. Our accountants are professional, well-qualified and vastly experienced, our team aims in providing our clients with the best level of service that we could possibly provide. S & H Tax Accountants believe that your business growth is our priority. To book an appointment with us today, call us at 03 8759 5532 or email us at info@sahtax.com.au

     

     

  • Tax Season Tips for Small Business Owners

    Tax Season Tips for Small Business Owners

    Preparing for tax season is really a year-round endeavor. Tip number one for SMB owners is to update financials on a monthly basis, using a streamlined software or cloud-based system.

    This way, come tax time, everything you need is all in one place. And well organized SMBs are better positioned to minimize their tax bill while avoiding penalties associated with missing or inaccurate information.

    Here are four more ways to take the stress out of tax time, and get the most out of your return.

    Know your credits & deductions

    Small businesses typically benefit from a wide range of tax credits. From special allowances for research and development, to programs that supplement wages for student employees and apprentices, knowing which credits apply to your business can save you a bundle on taxes.

    It’s also important for SMBs to be savvy about deductions. After all, you want to keep as much of your hard-earned revenue as possible. Often-overlooked items you may be able to deduct include:

    • Seminars, classes or conventions you attended to improve your professional skills;
    • Unused inventory that you’ve donated to charity (a good reason to consider donating your overstock, rather than paying for storage); and
    • Capital assets, such as office furniture, computers, and equipment.

    Speak to your accountant about the full range of available deductions you can plan for each tax year.

    Be careful about what you claim

    If you run your business out of your home, you may be able to claim a portion of expenditures like utilities, insurance, property tax, and rent. But you’ll need to keep good records, and all your receipts, to justify why you’ve allocated business costs to your home office.

    The same goes for home office computers and mobile phone expenses. Tax authorities will want to see how you’ve separated the personal and professional use of these assets when you claim them as work expenses.

    Want to claim drive-time as a work expense? Ensure you submit a log of your business-related mileage, so you can clearly demonstrate how your personal vehicle was used for professional purposes.

    Don’t miss the deadline!

    This should go without saying, but every year SMBs are hit with serious penalties for filing taxes late. Missing the deadline can have a range of negative repercussions, including:

    • Added interest to amounts owing, plus a late payment penalty;
    • Losing your claim to a refund;
    • Loss of credits toward retirement or disability benefits; and
    • Delay of loan approvals (lenders require a copy of your filed tax return in order to process your application).

    Seek expert advice well in advance

    A recent survey of small business owners found that a full quarter don’t understand their tax obligations. What’s more, 27% only speak to their accountant at the last minute, just before the filing deadline.

    Software has made it easier than ever for small business owners to file for themselves, but when it comes to thoroughness and accuracy, nothing can replace the expert advice of an accountant.

    Consult a professional well in advance, to ensure you’re getting the most out of your tax return, and that your documentation is complete. On the bright side, accounting fees are often tax deductible!

     

    When it comes to accounting it is very important to stay organised, especially when it is Tax time. S & H Tax Accountants offer our services to small businesses as well. We have well-qualified and very experienced accountants which aim to always provide you with the best level of services so that you are able fulfil your desired outcomes for your business. Book a consultation today with S & H Tax Accountants, call us on 03 8759 5532 or you can email us on info@sahtax.com.au.

     

  • The pros and cons of selling your business to an employee

    As a business owner, the thought of selling your company can be quite daunting. You’ve poured your heart and soul into building it, and it’s crucial the company continues to grow even after your departure. An attractive option is selling your business to your employees, those who know your business inside and out and have a vested interest in its success.

    The upside of employee acquisition

    Selling your business to your employees provides a seamless transition with minimal disruption. Employees already understand how the company operates and have established relationships with clients, suppliers, and investors. The transition is usually smooth, as there’s no need for extensive training or introduction to a new owner.

    Moreover, selling to an employee often means less hassle, saving you the time and effort required to bring an external buyer up to speed. You might also not need to stick around for as long as you would if you sold to someone outside the business, as the new owner won’t need as much training.

    The downside of employee acquisition

    Though selling to an employee can seem ideal, it does come with potential drawbacks. The sale price might be lower than what you might get on the open market, and there’s a possibility that the employee doesn’t have enough capital to seal the deal, meaning you might have to help fund the purchase.

    The selling process

    Selling to an employee generally follows a common path, involving various steps including agreeing on a sale price, having the business evaluated, establishing whether the employees can buy your business outright or if you need to finance part of the deal, and drafting a shareholder agreement to transfer ownership. It’s crucial to have each stage overseen by professionals to ensure everything is done correctly and legally.

    The Employee Stock Ownership Plan (ESOP) option

    Consider an Employee Stock Ownership Plan (ESOP) whereby you sell the business to all qualified employees instead of a single buyer. ESOPs can either be funded by the employees, or more commonly, by the seller. In either case, ownership of the company transfers to the employees, and you receive the sale price plus interest.

    Preparing your employee for leadership

    Once all the paperwork is complete, it’s time to start the transition process. The duration will depend on the level of experience and knowledge your employee possesses. If you’ve been mentoring them for an extended period, the transition will be smoother.

    Conclusion

    Selling your business to an employee is a viable way to ensure it continues to operate successfully. While you may not get the same price as selling on the open market, the advantages of a smooth transition and the knowledge that your business is in trusted hands often outweigh the potential financial differential.

    Contact us for some independent advice on this option.

    Selling your business to your employees can be an attractive decision to make for many employees, as there are many advantages such as there is not an necessary training that needs to be done before the transition as the employee would probably have the experience and knowledge. S & H Tax Accountants also offer the services of business advice, thus book an appointment with us today, call us on 03 8759 5532 or you can email us on info@sahtax.com.au.

  • 10 concepts every small business owner needs to understand

    10 concepts every small business owner needs to understand

    Even if you have outsourced your financial functions, as a small business owner, it is crucial to have a solid understanding of key financial concepts to work with your advisor and ‘speak their language”. This article outlines several important concepts that every small business owner should be familiar with.

    1. Basics of income and expenses
      As a small business owner, it’s important for you to understand how you generate and spend money. This way, you can maintain fiscal responsibility while also promoting business growth.
    2. Income statements (P&L) versus cash flow
      To make smart short-term financial decisions, business owners should always stay on top of the latest cash flow analyses and projections. Remember, a P&L doesn’t tell you if you can pay your bills or how liquid your business is. Keep that in mind!
    3. Operating cash flow
      Understanding a company’s operating cash flow is vital for assessing its performance and cash runway.
    4. Gross sales versus net profits
      As a small business owner, it’s important to pay attention to both sales and expenses to ensure a healthy and well-managed business. Remember, gross sales don’t equal net profits. It’s crucial to understand every expense, know the industry averages, and have enough cash on hand to thrive long term.
    5. Reading a balance sheet
      As an owner, it’s important to understand the line items on a balance sheet. Taking a deep dive into these details can provide valuable insights into your financial well-being. Soon you will instinctively know if something doesn’t look right.
    6. Unit economics
      For small business owners, it’s crucial to have a clear understanding of the expenses and revenues linked to a specific product or business unit. You need to be able to dive into the nitty-gritty of your finances, and that’s where unit economics comes in. The basic idea is simple: you should know the ins and outs of your expenses and revenues for a particular product or business unit. By grasping your unit economics, you’ll have a better grasp of your business as a whole, and it will also help you gain credibility with partners or investors.
    7. Return on equity
      This concept helps us decide whether we should keep investing in the business or look into other investment options. You see, there are always opportunity costs to consider for every investment.
    8. Cost of goods sold
      It’s really important to have a clear understanding of the cost involved in producing your products or services. If you’re not sure how much it actually costs to make your product or provide your services, it’s hard to know how much you’ll have left to cover your overhead expenses..
    9. Accounts payable and accounts receivable
      Effectively managing cash flow through digital tools for accounts payable (AP) and accounts receivable (AR) is crucial. After all, cash is king for small businesses!
    10. Working capital
      Monitoring working capital is important for ensuring the business has enough funds to operate smoothly. If you can’t get enough working capital because of seasonality or other external factors, then you can get loans. A working capital ratio between 1.2 and 2 signifies a healthy business to lending companies. The working capital ratio shows the ratio of assets to liabilities, i.e. how many times a company can pay off its current liabilities with its current assets. The working capital ratio calculation is: Working Capital Ratio = Current Assets / Current Liabilities

    To wrap things up…

    Having a solid understanding of these key financial concepts enables you to make informed decisions, effectively manage your finances, and strategically drive the growth and long-term success of your businesses.
    With financial acumen, you can identify opportunities for expansion, mitigate risks, and build a sustainable foundation for your business ventures.

    Don’t navigate your finances alone – we’re here to help.

    Understanding financial terminology and how they are used can be a little difficult to understand at times, that is why we are here to help. S & H Tax Accountants, offer the services of business advice whether it be about the structure, the finance or even just general inquiries, we can help you! Our accountants are well-qualified and vastly experienced, thus are able to help you reach the outcomes and goal you had desired for your business. Book an appointment today, contact us on 03 8759 5532 or email us at info@sahtax.com.au.

  • Launching a business? Ask these 9 questions

    Launching a business? Ask these 9 questions

    Starting a new business can be incredibly exciting, but it’s important to thoroughly evaluate your business idea before taking the plunge to ensure you’re creating a sustainable and successful venture. To get started, here are 9 questions to consider as part of an overall evaluation process.
    Save yourself money, time, and heartache down the line by investing a little time now.

    What customer problem does your business solve?

    Your business should aim to solve a customer problem in a unique and innovative way. An idea can be cool or interesting, but that doesn’t necessarily mean that it can meet an existing need in the market.

    If you can identify a problem that many people face and create a business that offers an effective solution, you have a much higher likelihood of success.

    How well does this business fit the current market conditions?

    External factors, such as changes in the economy or advances in technology, can have a huge impact on whether a business will thrive or fail. The rise of sharing and gig economy apps is a great example of this. These apps not only gave consumers more affordable options for daily tasks and errands, but also provided individuals with a new way to earn money on their own schedules.

    Think about any new opportunities that may be available in the current economy and technological landscape.

    What limitations will you encounter?

    Costs may be high, requiring careful planning. It’s possible that you’ll need to educate your customers and convince them to adapt to your business before they’re ready to use it. And let’s not forget about the competition that already exists in the market.

    Are there other businesses already doing what you want to do?

    Find out what’s the closest thing to your business idea already in the marketplace and ask yourself, “Why is my business idea better?” It’s a tough question, but if you have a convincing response, you might just have a good idea.

    Competitor research is key when evaluating your business idea. Knowing who your competitors are, how they operate, and what their strengths and weaknesses are will help you create a successful strategy.

    What is your understanding of the current market and trends?

    Study your market – How big is it? What are the demographics of your market? Who will be your target audience? How much of the market is already cornered by your competition? This will help you to really hone in on your target market.

    What resources do you need to start your business?

    Starting a business requires resources, including financial capital, intellectual property, and staff. Make sure you have the necessary resources lined up, or can access them easily before getting started.

    Knowing what barriers to entry exist is important. These barriers could include high startup costs, tough competitors, or regulatory hurdles that may need to be overcome.

    How will the business make money, and how long will it take?

    Think about how your business will generate income, and how long it will take to get it to a point where it is self-sustaining. Will you be able to keep it afloat until it reaches that point?

    What are the potential risks you face?

    Not every business idea is a guaranteed success. There are always inherent risks involved in starting a new venture. Evaluating these risks and creating contingency plans to address them is an important part of the evaluation process.

    Starting a new business will take long hours, hard work and sacrifices. You’ll have to pour money and time into getting the business off the ground, possibly at the expense of time with your family and friends and financial security. Make sure this is something you really want to do.

    Who is on your team?

    Assembling a great team is vital to starting a successful business. Think about the skill sets necessary for your business idea and start building a team that can bring it to life.

    Not everyone is an expert at everything. So when evaluating a new business idea, you have to ask yourself whether you have the right skills to pull off launching and running the business, or who you can gather around you to support you.

    You can’t do it alone!

    Good luck

    While it might seem that we asked you all these questions to deter you, what we really want is to help you think about what you’ll need to do to turn your idea into a successful business.

    Considering these questions will leave you with a better understanding of the viability of your business idea and the steps needed to make it a success.

    Set your business on the path to success – reach out to us today!

    Starting a new business can be a little daunting, as there is so much to consider whilst doing it. Another factor to consider is the financial position, as it is important that a business has a stable financial position when it is commencing to operate. S & H Tax Accountants offer the service of a business consultation, our accountants are well qualified and vastly experienced. Thus are able to guide you in the correct way and help you to achieve the business of your dreams. Book an appointment today with S & H Tax Accountants, call us on 03 8759 5532 or email us on info@sahtax.com.au

  • 6 Essential Accounting Terms for Small Businesses

    6 Essential Accounting Terms for Small Businesses

    Hiring an accountant is widely considered best practice for small business owners.  But delegating financial analysis and reporting doesn’t mean completely checking out of the process each month or quarter. On the contrary, it’s recommended that business owners work closely with their accountants throughout the year to better understand their financial position, and make smart plans for future growth.

    Want to increase your accounting knowledge so you can have more informed, insightful discussions with your account this quarter?

    Start right now, with this list of 6 essential accounting terms for small business owners.

    1. Cash Flow

    Do you have more cash flowing into your business each month than you pay out to cover costs and expenses? If so, your accountant will conclude that you’re “cash flow positive.” If the opposite is true, your cash flow statement will reveal that you’re “cash flow negative.”

    Having excess cash on hand means you’re better equipped to keep up with debt, cover unforeseen expenses, and invest in growth opportunities. Your accountant will generate a cash flow statement each quarter to keep tabs on this key performance indicator.

    1. Profit and Loss Statement

    The profit and loss statement (also known as the income statement) is one of the most important documents used by accountants to determine the profitability of your business.

    The P&L statement lists revenues and gains as well as expenses and losses over a specific period of time (typically every three months for small businesses). It calculates your all important “bottom line” so you know if you’re operating at a loss or turning a profit.

    1. Gross vs Net Profit

    Gross profit is what remains when you subtract the cost of goods sold (COGS) from your total revenue. Net profit, on the other hand, drills deeper. It reveals your exact dollar per profit of sales after subtracting all operating expenses, including COGS, taxes, interest paid on debt, etc.

    Gross and net profit are both profitability ratios. They are key for measuring business performance against an industry benchmark and your competitors.

    1. Balance Sheet

    The balance sheet offers a snapshot of your overall financial position at a particular moment in time. It lists the assets (such as cash, inventory, accounts receivable, and equipment); liabilities (like accounts payable, income tax, and employee salaries); and shareholder capital.  In a nutshell, the balance sheet shows what you own, as well as what you owe.

    1. Accounts Receivable & Accounts Payable

    Simply put, accounts receivable is money your business is owed by customers for goods or services sold. It is considered an asset on your balance sheet. Conversely, accounts payable is money you owe suppliers and any bills you have yet to pay, so it’s listed as a liability on your balance sheet.

    1. Bad Debt Expenses

    Bad debt happens when you can’t collect payment from your customers. Long term outstanding accounts receivable could be listed on your balance sheet as “bad debts”, and if they’re never collected, may have to be written off as a loss.

    And there you have it – six key terms to help you build your accounting vocabulary, join the conversation, and empower smarter decision-making.

    Terms such as Bad debt expenses or even the balance sheet can be daunting to small businesses. That is why it is advised that small businesses hire an accountant. S & H Tax Accountants are well known for their services as we have experienced and well-qualified tax accountants. We aim to ensure that our clients are able to reach the best outcome and thus will go well and beyond to assist your clients. If you would like to make a booking with S & H Tax accountants, you can call us 03 8759 or email us at info@sahtax.com.au

     

  • Debt management tips for small business owners

    Debt management tips for small business owners

    For a small business owner, managing finances can be a daunting task. Keeping track of expenses, payments, and cash flow can be overwhelming, especially if you’re dealing with debt too. A business loan, line of credit or a business credit card can help your company hire new employees, purchase inventory, purchase equipment, and finance growth, but too much debt can become an unsustainable expense. Debt management is vital to the success and sustainability of any business. Read on for some tips on effective debt management as a small business owner.

    How to manage business debt

    Rank your debts: The first step in debt management is understanding which debts are immediate and which can wait. Ranking debts can help you address the most pressing ones first and avoid defaulting on any payments. Defaulting on loans and credit can result in a decrease in your business credit score and can harm your business financially in the long run.

    Consolidate debt: Consider consolidating your debts into a single monthly payment. This can make it easier to manage and track all your debts, avoiding missed payments and late fees. Consolidating debt also lowers the interest rate of high-interest loans, which in turn saves you money on interest payments.

    Increase revenue: One of the most effective ways to manage debt is by increasing your business’s revenue. Tweak your current offerings, expand your market, or even invest in new products or services that align with your brand’s vision. The more revenue you generate, the more money you’ll have to repay your debts without incurring additional interest expenses.

    Reduce spending: Cutting costs and managing expenses can also play a role in managing your debt. This can include negotiating with suppliers for lower prices, investing in energy-efficient equipment, and even renegotiating loan terms to lower monthly payments. Avoiding unnecessary expenses can help your business free up cash to pay off debts while also saving money for other business-related expenses.

    Seek professional advice: Finally, if you’re struggling to manage your debt, consider seeking professional advice. This can help you identify areas where you can improve, provide guidance on debt consolidation options, and create a budget that aligns with your business goals.

    Last words..

    Managing debt can be stressful and challenging for any small business owner, and we understand that. Remember you’re not alone in facing the challenges of business debt management. Countless small business owners grapple with these issues and navigate their way to financial stability and success.

    We are here to help. Feel free to call or send us a message.

    S & H Tax Accountants understand that taking care of your debt can be difficult at times, however it is very important to understand that debt can always be improved by using certain strategies like the ones listed above. Our accounting firm can help those who need assistance to shorten or even eliminate their debt. Book a consultation today with our experienced clients, so that you can get manage your business debt in the most efficient manner. Call us on 03 8759 5532 or you can email us on info@sahtax.com.au

     

  • Pay as you go (PAYG) instalments – What is PAYGI?

    Pay as you go (PAYG) instalments – What is PAYGI?

    Pay as you go (PAYG) instalments applies to small business or investment income of any entity – Sole Trader, Company, SMSF etc. Pay as you go (PAYG) instalments are regular payments made throughout the year to avoid payment of large tax bill when tax return is lodged at the end of the year. The instalments made are based on business and/or investment income. The payments made during the year will be offset against the tax owed, if any, for the year.

    ATO estimate the tax payable in a year by taking the business and/or investment income reported in the most recently lodged tax return. Instalments amounts are calculated based on this income, current income tax rates and likely changes in the economy. The instalment amounts can be changed by the taxpayer if they expect a different income than previous years but will be penalized if the payment falls short.

    PAYG Instalments are reported and paid through activity statements or Instalment notice. They should be lodged before the tax returns are prepared. Once lodged, it will create a debit entry (debt) in the Activity Statements with the ATO. If the return is not filed on time, ATO might accept the instalment amount on their own in certain situations. Taxpayers must pay attention to the communications received from ATO regarding this.

    What happens when PAYG Instalments are paid?

    When a payment is made, it shows as a credit entry in the Activity Statement report offsetting the debit entry created while lodging the return. The balance will be zero. When the tax return is prepared, the tax payable on taxable income will be reduced by the amount of PAYG Instalments reported during the financial year. If the tax owed to ATO is less than the Instalment amount, the balance will be refunded.

    Example: –

    Total PAYG Instalments of John for the year – $10,000

    Tax on taxable income – $10,500

    Since John has lodged the PAYGI return and paid the same, he will be liable to pay only the balance $500 at the end of the year.

    If his tax on taxable income was, say, $9,500, he will receive a refund of $500.

    What happens when PAYG Instalments are not paid?

    If the PAYG Instalments are not paid, it will continue as a debt in the Activity Statement report of ATO. However, the tax return will still be prefilled with the actual lodged instalment amounts and this amount will be deducted from the tax payable for the year. Taxpayers should be very careful in this situation. The tax payable will be understated or refund receivable will be overstated here. If tax is payable (even after reducing the PAYGI amount, which was not paid), the payable amount will be shown as debt in ‘Income Tax Statement’ of ATO and the PAYGI amount will be shown as debt in ‘Activity Statement’ report of ATO. If the result is a refund (after reducing the PAYGI amount, which was not paid), it will be used by ATO to setoff the PAYGI debt and taxpayer will only receive the rest of the refundable amount, if any. If the refund is not enough to setoff the PAYGI debt completely, the balance will show in the Activity Statement report.

    Example: –

    Total PAYG Instalments of John for the year – $10,000. He lodged the returns, but never made payments.

    Tax on taxable income – $10,500

    Since John has lodged the PAYGI return, he will be liable to pay only the balance $500 as income tax at the end of the year. However, he will be liable to pay the PAYGI of $10,000 and will be shown as a debt with ATO in Activity Statement Reports.

    If his tax on taxable income was, say, $9,500, his tax return will show a refund of $500. However, he will be liable to pay PAYGI $10,000 and will be shown as a debt with ATO in Activity Statement Reports. ATO will setoff the refundable $500 with this debt and John will be liable to pay the rest $9,500.

    The scenario is similar for other entities like Sole trader, Company, SMSF etc. For more information refer ATO website.

    Looking for an accountant, S & H Tax Accountants can help. S & H Tax Accountants offer all taxation services whether it be for individuals, companies or even trusts. However we also offer business services, such as registrations or Business Activity Statement (BAS)  and even PAYG Installments. We understand that for businesses, these can tasks can be very daunting, that is why we offer the best level of services possible to all of our clients. Our team consists of well-qualified, vastly experienced and extremely professional individuals. Book an appointment today, call us on 03 8759 5532 or you can email us on info@sahtax.com.au.

  • FAQ related to Karbon

    We are using Karbon to collaborate and deliver the work within the time frame. You will receive an email from us with client task. Here are some Frequently asked questions…

    Why have I got a link to these tasks?

    You have received a link to these tasks because the person who sent them to you uses Karbon to manage jobs in their company and they have some tasks they would like you complete.

    What is Karbon?

    Karbon is used by organizations and teams to manage their jobs, email, and collaborate with their clients. You can learn more here.

    Why do I have to create a PIN?

    You’re asked to create a PIN to ensure no one else can access your client tasks. Creating this PIN will ensure only yourself and the person who sent these to you will have access to these tasks and related information.

    Do I have to enter my PIN each time?

    If you choose to remember your PIN on this device, then you won’t be required to enter it each time. However, you will need to enter it the first time you access any of your tasks on a second device.

    For example, if you first open the link on your mobile phone and create a PIN, and then later click on the link from your desktop, you would be asked for the PIN again.

    What if I forget my PIN?

    If you forget your PIN, simply click on the “Forgot PIN” link at the bottom of the page. This will send you an email where you can reset your PIN.

    Do I need a separate PIN each time my accountant sends me new tasks?

    No, you can use the same PIN for each new piece of work.

    How do I complete these tasks?

    When you have completed the tasks simply tick the box and it will be marked as completed. Before doing this, you can attach any files you’d like to send through this task.

     

  • Victorian Government has announced Grants for Licensed Hospitality Venue and Costs Assistance Program

    Victorian Government has announced Grants for Licensed Hospitality Venue and Costs Assistance Program

    Victorian Government has announced Grants for Licensed Hospitality Venue and Costs Assistance Program

    Program overview Licensed Hospitality Venue

    The $70 million Licensed Hospitality Venue Fund 2021 supports eligible licensed hospitality venues.

    Grants of $3,500 for businesses with a premises in regional Victoria and $7,000 for businesses with a premises in metropolitan Melbourne will be available to eligible liquor licensees operating a restaurant, hotel, café, pub, bar, club, or reception centre that is registered to serve food and alcohol.

    • Eligible liquor licensees with an eLicence email address will receive an email containing their grant application link from Business Victoria from Thursday 3 June 2021.
    • Liquor licensees without an eLicence email address must set one up on their Victorian Commission for Gambling and Liquor Regulation Liquor Portal by 20 June 2021 to receive their grant application link from Business Victoria within five business days.

    Business Costs Assistance Program Round Two

    The Victorian Government’s $371 million Business Costs Assistance Program Round Two will assist eligible small to medium businesses most affected by the restrictions announced on Thursday 27 May 2021 and extended beyond Thursday 3 June 2021.  The program offers grants of up to $5,000 to eligible small and medium businesses, including employing and non-employing businesses. The grants will support businesses in eligible sectors directly impacted by restrictions.

    Eligible businesses with an annual payroll of up to $10 million can receive grants of $2,500 or $5,000.

    (ref: Business Victoria)

    If you need an assistance with application for the grant then call S & H Tax Accountants on 03 87595532 or complete the followig form so we can contact you asap

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  • Looking to grow your business? We can help!

    Growing a business is one of the most fundamental goals for all small business owners. Successful businesses are those that are always looking for opportunities to grow and making the most of them.

    What is scalable growth?

    Scalable growth involves balancing the increase of your profits against the increasing costs of manufacturing your products or delivering your service.

    If you can ensure the most efficient systems and processes for what you’re selling, the more profits you’ll see and the more scalable your business will be.

    Can you scale what you already have?

    If you can improve your business’s ability to do more internally, such as speeding up production and increasing the efficiency of your systems and processes, you’re going to reap the rewards in terms of manageable growth.

    Conduct a review of your current operation and decide how you’re going to improve it. Think about:

    • Contractors – getting a third party on board can increase your capacity in the short term.
    • Equipment – can you extend the operational hours of existing equipment by running double shifts?
    • Staff – make sure your employees are working efficiently. If they don’t have the necessary skills they’ll need for upcoming growth, look at training.
    • Pricing – if you’re seeing an increased demand for what you’re selling, can you scale profits by increasing prices where appropriate?

    Increasing your capacity, while improving the efficiency of your systems and processes, means you’re successfully scaling your business for growth – and you’re going to notice it in your profit margins.

    How can you increase capacity?

    While it’s important to maximize your internal resources, scaling your business for growth almost always involves adding to your operations in terms of staff, equipment, facilities and finance.

    The right staff

    Making sure you have the right staff is critical for the growth of any business. If there are vital skills missing amongst your staff, look at upskilling them through training, or hiring someone with the knowledge and experience you need.

    It’s also crucial to have the staff you need to meet increased demand. If you’re manufacturing coffee tables and your orders are increasing to the point where your current staff can’t keep up, then it’s worth hiring another staff member.

    Equipment and facilities

    You don’t want your business growth to be hampered by not having the right equipment on hand to do the job or the facilities to do it in.

    If you’re looking to increase production of 50 coffee tables per week to 500, it’s likely that the location you’re in and the facilities you’re using won’t be adequate to meet the new demand. Consider:

    • Location – look at moving to a new, larger location, or opening another branch of your business.
    • More equipment – to increase production on a scalable level, you’ll need the equipment. It’s worth investing in newer machinery to increase output.
    • Suppliers – if you’re going to need more raw materials to produce what you’re selling, make sure suppliers can meet the increased demand. If not, find one that can.

    Tracking customers, building relationships

    Your customer experience must also be able to scale. Doubling sales will double customer queries, complaints, calls, web traffic, and demands on your time.

    Review your customer relationship system, possibly upgrading so you can track buying patterns and preferences, maintain contact, and develop customer loyalty programs.

    Remember, your customers are the most vital component of your business and to its growth, so engaging with them, listening to them and rewarding them is essential, no matter how large your business grows.

    Funding for scalable growth

    When it comes to increasing capacity for scalable business growth, you’ll almost always need additional financing.

    Even if your business is enjoying a healthy cash flow, financing options for expansion are worthwhile to explore if you don’t want to use up all your working capital on long-term assets.

    A smart idea is to get advice from a financial expert – one who’s had a lot of experience in business growth and expansion and will help you decide what funding options would suit your business best.

    It comes down to two main points:

    • What you can do with what you’ve already got.
    • What you’ll need to add to achieve scalable business growth.

    Don’t forget that ‘scalable’ means increasing all parts of your business to cope with extra demand, and ideally, it’s ‘manageable’ growth.

    Reviewing your internal system and processes to ensure maximum efficiency is important, but even more, so is making sure you have what you need in terms of staff, facilities, equipment and capital to achieve that growth.

    If you’re planning to increase output or offer expanded services, then making sure you have the capacity to deliver is essential.

    Sign up to our free course here

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