Albany Accountants - Smith Thornton Accountants

A new business idea can be exciting, but borrowing to make it happen needs a clear view of the numbers.

Before approaching the bank, it is worth understanding what the idea could mean for your cash flow, repayments, costs and overall business position.

Cash flow forecasting and scenario analysis can help test the opportunity before you commit. It can also highlight the key risks and give the bank a clearer picture when you apply for finance.

Get in contact if you would like help putting the numbers around your next business idea.

By the end of July, many business owners are already back into the usual rhythm of wages, suppliers, customers, BAS, stock, jobs and day-to-day decisions.

That can make it easy to move into the new financial year without stopping to check whether the business is actually set up for what comes next.

Are your targets clear? Have your costs changed? Is pricing still where it needs to be? Do you know what cash flow pressure may be coming over the next few months? Are there decisions around staffing, equipment, funding or growth that need to be planned properly?

The new financial year is not just about closing off what has happened. It is also a chance to get clearer about what needs attention now.

If July has already felt reactive, it may be worth taking a step back and looking at the numbers before the year gets too far underway.

If customers cannot clearly see the value in your product or service, they are more likely to judge it on price alone.

Good pricing should reflect what you deliver, whether that is quality, convenience, expertise, reliability, faster turnaround or a better outcome. However, setting the right price is only part of the job. You also need to communicate what customers receive for it and why that matters to them.

When the value is clear, the conversation becomes about more than the number.

When was the last time you reviewed whether your pricing and messaging clearly communicate the value you provide?

July is a good time to reset the way the business looks at its numbers.

The end of the financial year often focuses on tax, but once the new year begins, it is worth looking forward as well as back.

For many businesses, this means checking:

- Whether reports are being reviewed regularly
- Whether pricing still reflects current costs
- Whether cash flow is being monitored properly
- Whether wages, rent, stock, finance and overheads have changed
- Whether the business owner has enough visibility to make confident decisions

Good records matter for tax, but they also help business owners understand what is actually happening in the business.

If the last financial year felt reactive, July is a good opportunity to put better reporting and planning in place.

The first few years in business can feel like a crash course in everything at once.

Pricing, cash flow, targets, staff, customers, tax, growth. It is a lot to hold when you are still learning what matters most.

Having someone review your numbers regularly, help set simple targets and talk through the next steps can make business ownership feel less reactive.

Jenna, our Business Services Advisor, works with new business owners who want a clearer way to understand their numbers and make better decisions.

Get in contact if you would like help finding your feet.

Planning to launch a hospitality venue?

The Zeller Business Grant is offering two $5,000 grants to help aspiring Australian hospitality business owners bring their venue ideas to life.

Run in partnership with American Express, the “No Reservations” initiative also includes a free hospitality education masterclass series.

We’ve shared the key details below, including where to view the full funding guidelines.

Smith Thornton can also assist with preparing grant applications if you need support.

Zeller Business Grant for Hospitality Venues | Smith Thornton Planning to launch a hospitality venue? The Zeller Business Grant offers two $5,000 grants to help aspiring Australian hospitality owners get started.

A new idea for your business can be exciting, but it also needs to be tested properly before you commit time, money and resources.

What will it cost? How will it affect cash flow? What needs to happen first? What would make the idea worthwhile?

Putting numbers around an idea can help you decide whether it is realistic, what needs to change and how to move forward with more confidence.

If you need help turning a business idea into a practical plan, please contact our Business Services Advisor, Jenna.

Tax time is when ATO and myGov impersonation scams tend to ramp up.

Scammers may send emails, texts or messages that look official, often using ATO or myGov branding to make them appear genuine. These messages may ask you to click a link, sign in, download an attachment, call a number, or provide personal or financial information.

A few important reminders:

- The ATO will not send you an unsolicited message with a link asking you to sign into myGov.

- Do not click links in unexpected messages.

- Do not share passwords, one-time codes or financial details.

- Check suspicious contact directly through the official ATO website, the official app, or by calling 1800 008 540.

- If something feels urgent, threatening or not quite right, stop and check before taking action.

You can report scams or find more information at https://bit.ly/4be2J3i

🎉 25 Years of Excellence! 🎉

Yesterday we celebrated an incredible milestone as Melinda marked 25 years with our team!

For a quarter of a century, Melinda has been a trusted professional, bringing expertise, integrity, and commitment to everything she does. She's been a trusted colleague, a valued mentor, and someone our clients and team can always rely on.

Melinda, thank you for 25 years of hard work, loyalty, and countless contributions. We appreciate everything you do and are so grateful to have you as part of our team.

We're proud to celebrate this milestone with you and look forward to many more successes together - here's to celebrating you! 🥂👏

Understanding your customers is just as important as understanding your costs.

A price-sensitive market needs a very different approach from a premium or niche market. If your pricing does not match what your customers value, it can feel wrong even when the numbers make sense on paper.

Good pricing is not just about covering costs. It is about knowing what your customers are willing to pay for, and why.