"BiziNet Magazine #96 - May/Jun 2019" BiziNet™ Articles

On 18 May 2019, Australians will go to the polls to elect the 46th Australian Parliament. At one level, the election offers a choice between the Red Team (Labor led by opposition leader Bill Shorten) and the Blue Team (the Liberal and National Coalition led by PM Scott Morrison and Deputy PM Michael McCormack). Sadly, many Australians have become so disillusioned with the quality of national political leadership in recent years that the choice for them may simply come down to which colour they dislike least.

As an employee how often do you check that your employer is paying your superannuation on time? Would you know how many months your employer might be in arrears? What if you knew that your employer was using your superannuation guarantee ("SG") contributions (being 9.5% of your relevant remuneration) to assist in the cashflow of their business? Did you know that the number of employers who lodged SG charge statements increased 60% from the preceding financial year (the total number being approximately 17,700)?

Every day in business you decide to act in some way. You choose to issue a marketing statement. You choose not to continue trading with someone. Do you know you could be treading on a legal mine!

The title of this article is a quote from a best-selling American author called Robert Allen and in just six words he sums up why we never truly fail as long as we are willing to learn from our mistakes. While this is a great concept, it is not always as easy as it seems. Getting honest feedback can be a confronting and emotional experience. So how do we make sure that feedback helps us plan for future success rather than dwell on past failure?

Is your business leaving cash on the table? By not taking advantage of government grants and incentives which may be available to your business are you turning your back on financial assistance that Federal and State governments are offering?