Blog

5 ways to prepare for the end of financial year

Whether or not you’re looking to sell in the short term, a wise business owner will ensure their business is ALWAYS sale ready. You never know what life has in store for you around the corner. The end of financial year is a great time for small businesses to get things in order. Think about finalising your bookkeeping tasks, take stock of where your business is at, and gather new … Read more »

Victorian Economic Growth Outpaces National Trend

The latest ANZ Stateometer Report released on 23 May shows Victoria’s economic activity is growing faster than the Australian trend, and bucking the trend of other major states including NSW. Factors at play include strong public and private investment, and continued population growth. The Stateometer is a measure of economic performance across Australian states and territories, measuring 37 economic indicators, covering labour market, household and business activity, housing and trade. … Read more »

How Should I Choose a Business Broker in Melbourne?

Not all business brokers are created equally. You really need someone looking out for you, whether you’re buying or selling a business. You need someone trustworthy, experienced and knowledgeable. What’s the best way to sort the wheat from the chaff? First, speak to the broker and gauge how you feel. Do you feel at … Read more »

Business Brokers Save Buyers Time, Money and Stress

Buying a business directly from a vendor isn’t a great idea. Buying through a broker will save you time, money and stress. A good business broker has helped people buy and sell businesses time and again, and will have seen all the patterns, trends and tricks. They can help you consider clauses for your Offer that will help protect your interests (or what to ask your solicitor, if you have … Read more »

Budget 2018-19 is Good News for Small Business

On Tuesday night Treasurer Scott Morrison delivered the 2018-2019 Federal Budget to the Australian Parliament. It’s good news for small businesses. The government proposes to extend the $20,000 instant asset write-off scheme from 1 July this year to June 30 2019. The scheme allows small businesses to immediately write off assets costing less than $20,000, rather than making deductions over several years.

Other initiatives were welcomed by the small business community, … Read more »

Small Business Wins Big in Victorian Budget 2018/19

Victorian businesses warmly welcomed the Victorian Government budget 2018/2019, delivered by the Treasurer Tim Pallas earlier this week. New measures adding up to about $500 million are expected to boost Victorian businesses. These measures include strategies for assisting business to access new markets, grow operations and reduce red tape. Lower tax rates for small businesses were also announced. From 1 July 2018 the pay-roll tax free threshold will rise again … Read more »

Melbourne International Coffee Expo Cements us as World Coffee Hub

We’ve all long suspected Melbourne to be a world leader in the cafe industry, and the recent Melbourne International Coffee Expo (held 22-24 March 2018 at Melbourne Showgrounds) has just confirmed it. The event was huge. Crowds were estimated at about 10,000 over the 3 day event, which included coffee sampling, industry networking, specialty exhibitors, product innovation awards, origin/’source’ exhibitors, the Australian International Coffee Awards, and … Read more »

Use a Trusted Business Broker to Buy a Business Through First Choice Business Brokers

Buying a business is easy with First Choice. We’ve got lots of resources online to help you through the process (for example, have a look at our eBook on buying a business – under the Search on our Website).   Many first time buyers are surprised how long it can take to buy a business. It usually takes a couple of months at least, from the time at which you … Read more »

Melbourne’s Going Gangbusters!

Melbourne is going gangbusters, and it is a fantastic time to invest in this fast-growing capital city! In 2013 the then Prime Minister Tony Abbott promised that a million jobs would be created in 5 years – and he was right! Over the past 15 years, about 200,000 jobs have been created every year. Huge jobs growth has been seen in health and construction sectors, and this is flowing through … Read more »

Lowest Small Business Loan Rates in Decades

The Reserve Bank of Australia decided earlier this week to maintain a record low cash rate of 1.5%. The Governor, Philip Lowe described Australia’s economic recovery as “gradual”, indicating the bank is in no rush to raise interest rates from the historic low. Low interest rates make the financing of operations, manufacture and distribution less expensive for companies. Periods of low interest rates can be good times to plan for … Read more »