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Growing your small business

Posted on July 18, 2018 by admin

Has your small business hit a slump lately? It may be time to develop a growth-focused strategy that can take your business to the next level.

Consider these ideas when designing your plan of attack.

Re-evaluate your small business
It is important to find out what exactly is hindering your business – get to the heart of the problem. Do you need to tweak your customer service and sales approach? Improve product development? Or even reduce your expenditure? Talk to your employees and examine how your business is running as a whole to find that certain something which is lacking.

Tailor your solution
Once you can identify the issue at hand, your next step will be to develop an effective solution. For instance, you may need to provide your staff with more customer service training as a way to maintain loyal customers and increase your sales. Before implementing these changes though, you must make sure this strategy will work towards growing your business.

Track your changes
Now you have located the source of the problem and implemented specific actions to create a change, but it is not over yet. It is essential to track and measure these changes to be sure they are having a real effect on promoting growth in your business. Otherwise, how will you know if the new strategy has worked?

maximise your business's value

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When do you have to pay tax on shares?

Posted on February 20, 2020 by admin

Investing in shares is a popular method of growing your wealth, however, there are tax obligations you need to be aware of to get an accurate sense of how much you’ll need to put aside for your investments.

When you own shares, you need to declare all your dividend income on your tax return. It is possible to claim tax deductions for certain expenses you pay to receive income from your shares. The deductions you are eligible for will depend on if you are carrying on a business of share trading or if you are an individual share investor, but they can include:

Individual share investors cannot claim a deduction for the cost of acquiring shares, such as costs for brokerage and stamp duty, however, they can claim deductions on the prepayment of expenses related to the shares such as internet fees or seminars.

Buying and selling shares can involve capital gains tax (CGT), depending on whether you make a capital gain or a capital loss on your shares. Your capital gains or loss is the difference between the price you paid for the shares and the price you sell them for. If you end up selling your shares for more than you paid for them, then you make a capital gain which may be taxed.

How much CGT you need to pay varies depending on:

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