Mums in Business: Fastest Growing Sector But It’s a Lonely World

With a continued rise in childcare costs and increased pressure on the family unit, an ever growing number of mums are ditching the stresses of a 9-5 job and starting their own business.

In Australia, women own 585,000 of the 1.9 million small businesses making it the fastest growing sector in the Australian economy. More than 45% of women run their businesses from home (a 20% increase in the last five years).

Owning and running their own business gives mums the flexibility to be there for the kids, as well as have more independence, focus and drive. However, running a business also comes with its own unique challenges including loneliness, isolation and potentially, depression.

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The Real Reasons Behind Your Time Management Problems

Being a parent and having to run a business, we often have to juggle various priorities and it seems like there is never enough time in the day to “get it all done.”

We are committed to growing our businesses, yet we feel so overwhelmed by everything that needs our attention that we ended up running around like a chicken with its head cut off, and still come up short.

I often hear people complain social media being a time suck. They can’t fit in the time to write a newsletter. They don’t have a minute to reflect on their own growth. They are struggling to get even 6 hours of sleep in. Yoga… what yoga?

They wish they could get the unfair advantage of having a 28-hour day.

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Management Tips for Mumpreneurs

The word Mumpreneur is a bit of a buzz word at the moment but like all cliches and buzzwords, it has gained traction because it’s real. Mumpreneurs are a tremendous growth sector in Australia and overseas and according to the ABS, women are three times more likely than men to have the confidence to start their own business. And the Huggies MumInspired Research Report revealed that some 70 per cent of Australian mothers have thought about starting a business after having kids. Lets face it – once you’ve had a baby you feel like Wonderwoman – you can do anything!

For many women, the idea of going back to full time corporate roles after having children isn’t terribly appealing, once the cost of childcare and travel expenses and the time away from home is calculated, but they have the skills and energy and passion that can be channelled into their own ventures. As well as giving you time to care for your family, being a Mumpreneur offers a huge raft of other advantages over a salaried role.

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3 Ways To Get Honest Feedback Before You Launch Your Product

Starting a business is exciting. It’s fun to brainstorm your concept, design your product, build your website, and talk about the difference you are going to make in the world.

But how do you know if your business idea will work? And how can you be sure that people will actually buy your product?

Believe it or not…

Aside from consulting friends and family, most people seek very little customer feedback before launching their product. Sounds crazy, but it’s true. (I’m guilty of it myself!)

Caught up in the thrill of the ride, most people don’t talk to customers until after they have spent thousands of dollars on developing their ideal product and/or website. Which means that by the time they launch their product, they’re too far down the road to pivot, turn around or start again.

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I own a business, should I incorporate?

People are moving online faster than ever. Technology is helping brick-and-mortar businesses to adapt in a fast changing world. Once a website is created and visitors start browsing your business can expand greatly, however there are also a number of legal risks that it is exposed to.

While the process of incorporation has additional costs to merely starting or continuing a business, there are a number of benefits that come from registering a company (aka incorporation). The most important thing to remember is that an incorporated company is a separate legal entity from the company owner — this is crucially important should things go wrong.

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Dangers To Watch For When Moving To Commercial Premises

I’d love to share my own real word experiences as I’ve just recently moved to commercial premises and whilst I am a ‘seasoned’ business owner, I certainly learnt some valuable lessons. Some of my business principles and practices came in very handy plus I learnt quite a few other things. Please let me share:

1. Do a budget.

Specifically for the move, prepare your budget as you will soon discover the costs can quickly run up. Signage, removalists, new phone systems, computers, furniture, legals, deposits and so much more. This doesn’t even cover any refurbishment you may need to do. The costs really can escalate, so prepare a realistic budget and ensure you have the cash to fund this project. Naturally of course, ensure that ongoing you can afford the premises, including rent, electricity, security, telephones, etc.

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Three Handy Depreciation Apps for Business

Smart commercial property owners, commercial property tenants and business owners want to improve their cash flow. Claiming depreciation can reduce the tax paid for any commercial property at tax time.

BMT Tax Depreciation provide three valuable apps every business or commercial property owner should be aware of. Let’s take a look at how these apps can help you.

1. The BMT Tax Depreciation Calculator

This app is really handy when you are looking to purchase any new property, whether it’s a commercial office, an industrial building, a warehouse used for manufacturing or a residential investment property.

The BMT Tax Depreciation Calculator allows investors to get a quick depreciation estimate of the deductions that will become available for any property once it becomes income producing.

To use the calculator, investor’s only need to have some basic information about the property, including the property type, the construction type, quality of fishing, the floor area of the property in square metres, the estimated year of construction, when the property was purchased and the nearest major city.

Once the calculate button has been selected, the calculator will provide investors with an estimate of the minimum and maximum deductions they can claim for the first five years of owning the property.

To download the app for iPhone or Android devices, click here.

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Owning a Business is About Changing Lives

Learn how your company can help raising awareness of social care causes. Be the one to make the change!

Behind the curtains of the nonprofits and political organisations who happen to take the leading position in charity events, there are these smaller companies which have managed to put cause supporting in better use.

Hope For Greater Good

When I first heard of businesses crowd-funding causes, I had to say I was a bit skeptical. Little did I know at that time, what incredible power charity holds. I came to realise charity can help a company turn its clientele into a true community. When joint into a cause – a goal for the better of us all, our social nature shifts us into an unbeatable power – a power which can change lives. And what could be better than trying to build such a strong, caring community with the people who trust you?
There is something magical about charity you don’t see just at Christmas.

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Your 4 Rules For Winning at Brand Social Media

If you want to be leader in your industry, there is no better way to become one than using social media. There are many ways to embark in the internet world, but using its full power needs more than frequent tweeting and sharing adorable puppy photos. Conquering the social media as a brand takes dedication and puts the creative thinking to its limits.

Want to ride on the tip of the waves of the media trends and put your company in the spotlight? Come on and join the ride to creating the best SM brand start-up for your business.

Save The Date

In the social world, timing is everything. Tweet a bit too late how that local event rocked your town and you won’t make any difference. It would still be something your followers may like, but they would definitely pass it if it is the 10th one on that topic they have read today. If you are going to rule Twitter, Facebook, Reddit and Instagram, you need to act fast. If you don’t provide accurate information about your industry in the right time, you might lose a large number of potential fans.

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Hidden Cash

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What may commercial properties be hiding from tenants?

Property depreciation is mostly claimed by the owner of an income-producing property. It is for this reason that many commercial tenants often miss out on the hidden cash available to them through depreciation.

Commercial tenants can claim depreciation deductions based on any fit-out or plant and equipment assets that they add to the property.

Tenants can claim depreciation deductions on all fit-outs while the owner of the commercial property is simultaneously able to claim a deduction on the building and any plant and equipment items that they own.

Dependent upon lease conditions, if a tenant vacates a building and does not remove the fit-out from the building at the end of their lease, the owner of the property may be able to claim any remaining depreciation. However if a tenant’s lease stipulates that the property must be returned to its original condition at the end of the lease, then the tenant can benefit from claiming any remaining depreciation on the items removed and scrapped.

It is important to consult a qualified Quantity Surveyor when dealing with commercial property depreciation to ensure that not only are maximum deductions achieved but that they are claimed correctly.

For more information on commercial property depreciation, visit BMT Tax Depreciation’s new commercial depreciation page by clicking here.

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Bradley Beer (B. Con. Mgt, AAIQS, MRICS) is the Managing Director of BMT Tax Depreciation.  Please contact 1300 728 726 or visit www.bmtqs.com.au for an Australia-wide service.