Tuesday 30 January 2018

Why are we being bad to good small businesses?

When we get bad service or products we are endlessly complaining and making sure we tell our friends, family, colleagues and even strangers of what great injustice was done to our spending. This is fine and that is probably how our brain is programmed but what are we doing when we get great service and products from all the good small businesses out there? And the answer might be something not far away from "nothing".

There are thousand of small businesses out there who are providing exceptional service, great products and going over and above what is required from them but what do we do when we receive exceptional value for our money? Nothing!

Next time when you get bad service; feel free to leave bad review, tell people, tweet, put up a post on Facebook or use any other medium to warn others about such players; you are entitled to that. If you are going to use time to complain about the bad, do also take out your time and use the same mediums to promote the good experiences you are having with the small businesses out there because if you don't; you are leaving these good small businesses on level field with the not so good service providers and that just can't be right! The hardworking and honest small businesses from all fields deserve better! 

So next time you receive great service from a small business, tell everyone you can because they might not have the resources to advertise themselves but your couple of minutes might just help them!

BY SURESH RAJANI 

Tuesday 23 January 2018

Tax debt transparency laws are here (well almost)...


The government in a bid to increase transparency of tax debt and to provide a true picture of credit worthiness of businesses has released exposure draft legislation for consultation that will allow the Tax Office to disclose business tax debts to credit reporting bureaus where the businesses have not effectively engaged with the ATO to manage their debt.

For most businesses that pay their tax bills as and when they fall due, this is not of concern but for those entities that have ABNs with tax debts of over $10,000 overdue for more than 90 days, this is about time they get their tax affairs sorted and managed.

One of the first signs of a business not being able to manage its finances is when it starts falling behind on paying its tax debts so this is a good piece of legislation for small businesses who need to continually look for new business but don't always have enough information to determine if a new client is creditworthy or not. This law will provide useful information to businesses that are proving credit to new customers or are increasing the credit limits of existing customers.

For those businesses that do the right thing, they need not worry. Those that try and take unfair advantage by not paying their debt and using the money in their business instead, be aware!

By Suresh Rajani