Business, Equipment & Home Finance for SMEs
At The The 500 Group Group, we learned that one of the most powerful actions a business can take is to clearly define its Business Purpose! That is, why does the business exist? What is its reason for being? From the customer perspective, the products or the services a business sells are simply a means [...]
Novated Leasing is a popular, and often a financially attractive way employees can lease a car from their pre-tax income. This is known as salary sacrificing. By paying the lease from pre-tax income it in effect also reduces your taxable income. How does Novated Leasing work? To access Novated Leasing the employer needs to offer [...]
Real time accounting offers many benefits for business owners! It is something we implemented at The 500 Group some 12 months ago and advocate to our clients. From a business perspective, real time accounting: Puts you in control Provides “real time” financial information to help you make more informed business decisions Saves time and significantly [...]
A question I am often asked by clients is, "What is a Chattel Mortgage and how is it different from a Finance Lease?" A Chattel Mortgage and a Finance Lease are both finance products typically used by businesses to acquire: Business equipment Motor Vehicles How a Chattel Mortgage is different from a Finance Lease The [...]
Low interest rates on home loans make it appealing to roll a car loan into your mortgage. At face value this makes sense, but there are significant risks! If you’re not careful, your new car could cost you a lot more than if you took out a separate car loan! In fact, in a worse-case [...]
Often when seeking finance from a Bank, clients are asked to prepare a cashflow forecast. Whilst most business owners will rightly seek assistance of their Accountant or Bookkeeper to prepare the forecasts, it is important to understand the process involved and to have input into their preparation. Why you need to prepare a cashflow forecast [...]
With property prices rapidly increasing over the past few years, many people wonder whether it is still worth saving for a home deposit. For some, as property values outstrip wages growth, it can seem like an exercise in futility! Why bother! However even under such a scenario – we believe it is still possible to [...]
Increasingly when businesses look for funding from a Bank they will be asked to provide three way Financial Forecasts. In the past, often a simple cashflow forecast would have been sufficient, however whilst a cashflow forecast can be helpful as a guide – its ability to provide Lenders with a comprehensive overview of the future [...]
Often when lending against a business, a condition of approval set by the Banks will be that the business operate within and/or meet certain Financial Covenants. For business owners, unfamiliar with the concept Financial Covenants it can be a scary prospect! It can be hard enough to run a business, meet interest and repayment obligations, [...]
To enjoy business success there are four critical questions that need to be answered: Who - are our ideal customers or major customer groups? What - are the needs we meet or the problems we solve? How - do we do it? Why - should customers choose us and not our competition? Business Success Question [...]
