Viability is defined as the ability to survive. For a business, this is linked to financial performance and position. A business is viable when either: • It is returning a profit that is sufficient to provide a return to the business owner while also meeting its commitments to business creditors. • It has sufficient cash […]
If the system you use in your business to record GST fails, you may be recording and reporting GST incorrectly. This can result in costly errors. Your business system may fail if: • it has not been set up correctly initially • it has been left unchecked for a long time • it is not […]
The most common business structures are: Sole Trade, Partnership, Proprietary Limited Company, or Trust. There are advantages and disadvantages to each of these structures. To choose your business structure, consider your personal situation, the nature and objectives of your business venture and the costs and risks of operating under each structure. The choice of business […]