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Western Australia Sees 42% Surge in Business Closures – How to Protect Your Business

Small Businesses Under Pressure as Insolvencies Reach Record Highs Western Australia has seen a staggering 42% increase in business insolvencies, with over 1,000 businesses shutting down between January and December last year. This dramatic rise, revealed by recent ASIC data, highlights the severe financial distress faced by business owners across the state. The construction and […]

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Business News Updates: ASX Fluctuates Amid Earnings Season, CBA Profit Rises, and Banks Cut Fixed Rates

The Australian share market experienced volatile trading as the corporate reporting season picked up momentum, with mixed earnings results influencing investor sentiment. Meanwhile, Commonwealth Bank of Australia (CBA) posted a strong profit increase, and several major lenders responded to shifting economic conditions by cutting fixed mortgage rates. ASX Swings as Earnings Reports Roll In The

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Empowering Construction Businesses with Tailored Financing Solutions

The construction and infrastructure industry is the backbone of Australia’s growth, with projects ranging from residential developments to massive infrastructure ventures. For businesses in this sector, access to the right financing is critical to maintaining operations, investing in cutting-edge equipment, and ensuring project success. At Boa & Co. Chartered Accountants, we specialize in providing tailored

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Business Expenses and Income: Why It Matters and How to Track It Efficiently

Overview Money flows in and out of every business. But tracking those movements isn’t just about ensuring the balance tips in your favor—it’s about gaining control, insight, and strategy over your finances. At Boa & Co., we understand the unique needs of professionals like medical specialists, engineers, and legal practitioners. With the right tracking systems,

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Wealth Structuring for Finance Professionals: Balancing Growth and Risk

Finance professionals are no strangers to managing wealth, yet structuring personal finances often poses unique challenges. Balancing growth and risk becomes critical when striving for financial security while pursuing opportunities to maximize wealth. At Boa & Co. Chartered Accountants, we specialize in helping finance professionals structure their wealth strategically, aligning their financial goals with risk

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Company Limited by Guarantee vs Incorporated Association: What’s Best for Your Not-for-Profit?

When it comes to establishing a legal structure for your not-for-profit organisation, the choice between a company limited by guarantee and an incorporated association is crucial. This decision can impact everything from compliance and reporting requirements to operational flexibility and cost. In this guide, we compare these two structures to help you determine the best

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Top 10 Tips for Effective Financial Management Every Business Owner Should Know

Overview Effective financial management is crucial to the success of any business, especially for small business owners. It’s not just about keeping the lights on—it’s about making informed decisions that drive growth and profitability. While you might be an expert in your industry, financial management might not come naturally to you. But don’t worry—BOA &

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Keeping Your Business on Track: Managing Expenses and Income Efficiently

Money flows in and out of your business every day. While it’s easy to focus on the money coming in, understanding the money going out is just as crucial. Tracking both your business expenses and income isn’t just about staying organized—it’s about building a solid foundation for growth and success. Let’s explore why this practice

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How to Create a Financial Plan for Your Business – The Easy Way

The thought of creating a financial plan might feel overwhelming, especially if accounting isn’t your strong suit. But don’t worry—we’re here to make the process straightforward and easy to understand. No matter your experience level, you’ll be able to develop a financial plan that sets your business on the path to success. Let’s dive into

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Government Grants and Incentives for Australian Businesses in 2024

As Australia continues to foster economic growth and innovation, the government offers a range of grants and incentives to support businesses across various sectors. These programs are designed to help businesses expand, innovate, and remain competitive in a dynamic marketplace. In this article, we’ll explore some of the key government grants and incentives available in

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