Business Advice
What Every Business Owner Should Know About Employment Contracts

What Every Business Owner Should Know About Employment Contracts

If you are a business owner it is certain that contracts play a big role in many areas of your business, Some will be simple, and others more complex requiring input and advice from your business lawyers. As for what the contracts relate to, this can vary significantly and impact just about every aspect of the operation of your business..

There are contracts for purchasing supplies, materials, and stock, contracts to supply clients, contracts relating to your premises, and contracts that may be for the purchase or the hiring of machinery and equipment. Beyond these, there is a type of contract which is one of the most important that any business owner will have within their company and that is the employment contract of each of their employees.

An employment contract has two core reasons to exist and that is the protection of the employee and the protection of the employer. It is often thought that an employment contract’s sole purpose is to protect a worker’s rights and to ensure that they were not having to work under unacceptable, and even unlawful working terms. While it does fulfils that purpose, it is just as crucial in the protection of the employer too.

Business Advice
Record Keeping

Record Keeping For The Ultimate Tax Deductions

When it comes to small business accounting, record keeping is everything. Accountants Australia advise that keeping decent records can help minimise your taxable income, can save you a lot of time, and can make things a lot easier when it comes time to file your tax return.

If you are struggling with record keeping, you’re not alone – most small business owners have some sort of trouble keeping the right records, and this often comes back to bite them at tax time. If you don’t really understand what your obligations are when it comes to record keeping, you should think about speaking to an experienced accountant.

What sort of records do I need to keep?      

When it comes to record keeping, there are a few things that it is absolutely essential to keep track of throughout the year so you don’t run into trouble at tax time. Some of the most important include:

  • Your expenses – When it comes to calculating your taxable income, you will need to know how much money you spent to run your business. Any and all business expenses should be recorded and kept track of. If possible, keep and tax receipts, as they will be needed as proof when you submit your tax return.
  • Income – Keeping a clear record of your income, where it came from, and how it needs to be taxed is essential, especially if you have any income from investment.
Business Advice Digital Marketing

How Branding Can Be Heard As Well As Seen

Ask any person to describe branding to you, and they’ll most likely talk about logos, graphics, colours and web design, and they are not wrong. But according to branding & marketing expert Peter Brittain, what they, and more importantly what many business people overlook is that branding can be about more than just what people can see.

What you must realise is whilst visual branding such as logos is important for a company or business it is also possible to use audio as well to build brand awareness.

Just think of the number of companies who you can instantly recognise, simply by hearing a short piece of music, a voice, a tone or some other sound. A couple of prime examples are the four notes that you hear at the end of an Intel ad, and how about ‘I’m loving it’, being sung after McDonald’s have told you about their latest meal deal.

If you go to the movies you are bound to know that when you hear the snare drums and trumpets start playing it’s going to be a 20th Century Fox movie on the screen, and another movie company proves you don’t even need music to have an instantly recognisable audio. We are of course, referring to Leo the lion roaring twice, before the intro of every MGM movie.