Archive for Damian Larsen

Getting your super

Image result

Many want to set up SMSF (Self Managed Super Funds) instead of going with a retail or industry superannuation fund. Why? There are a number of reasons why SMSF is more beneficial compared to other forms of funds.

The number one reason why people love SMSF is because they got full control. Just like its name, an SMSF is self managed therefore it gives you control over the decisions made in the superfund. You have the power to choose and develop an investment strategy that is tailored to your needs and have a direct say in all investment decisions, unlike other types of investment.

Another benefit of SMSF is cost-efficiency. When you run SMSF, the cost is fixed and is not dependent on the total amount of assets you have. Other superannuation funds usually charge a percentage of assets as their fees, so the higher your account balance the more you pay. Thus, having an SMSF would provide greater cost benefits when your superannuation funds/assets exceed a certain amount.

Freedom is another important benefit SMSF can give you. When it comes to a range of important decisions such as how benefits can be paid to members when they retire or how death benefits are paid in the event of a member’s deaths.

Do you want to know how to get your super? Check this: https://www.moneysmart.gov.au/superannuation-and-retirement/how-super-works/getting-your-super

Top five government grants for startups

For a would-be entrepreneur, finding a business startup funding can be one of the biggest challenges. When launching a new business venture, many of us find it easier to make a great deal of research, prepare, and develop the skills needed for entrepreneurship, but have a difficult time coming up with the financial resources to get their new business off the ground.

As a first step, you should list the various potential sources of funding available to you and determine which approach will be best, given your own unique needs and time frames.

To begin with, you should first determine how much does it cost to launch your new business. The answer to this question depends largely on the type of business you are looking to start and the choices you make along the way. This includes determining whether you will need to purchase new equipment or not. Then, will you be renting or leasing a location for the business and, if so, will that space require any renovations?

Some businesses need to hire employees in order to operate properly. But luckily, many businesses (e.g. those that are Internet-based) can be started with minimal budget and run from home with no employees, inventory or any equipment other than a computer.

Whatever your business type is and you are looking to fund it, you need to check out this article to learn how the government can help you: http://www.smartcompany.com.au/startupsmart/advice/startupsmart-funding/five-top-government-grants

How Can I Improve My Credit Score?

In many countries, including Australia, your credit score is extremely important. It is something that you should take care of. If you don’t, getting a loan or a new credit is almost impossible. Furthermore, getting a phone, cable or gas line hooked up in your home can be difficult to do. And even if you are qualified to do the job, a low credit score can ruin it all for you because there are also certain companies that take a look at your credit score first before they even hire you.

Your credit score is also analysed by creditors, such as banks and credit card companies. Just try to imagine that you need to get a loan to start your own business. Like we’ve said, with a low or bad credit score, you have a lesser chance of getting that loan approved or you may get it approved but with high interest rates.

Image result for credit score

When you apply for a credit card, the same thing happens. Credit card companies or banks that issue credit cards will first take a look at your credit score before they can get your application approved. A high credit score is of course a lot more advantageous as you have a greater chance of getting the best credit card deals with a lot of features and also with low interest rates for your every purchase using a certain credit card.

To learn more about how you can improve your credit score, click here: http://time.com/money/2791958/how-to-improve-credit-score

Borrowing to Invest

At some stage, most businesses and many individuals borrow to make a purchase or to invest. Whether it is cash loans for purchasing shares, or a large loan for an investment property or a new business, borrowing to invest can be beneficial. This process is also known as gearing and it includes any type of borrowing to invest.

Image result for gear

While gearing is often considered to be highly risky, there is good debt as well as bad debt and the association of high risk with gearing only applies if the borrower has failed to plan for their gearing.

The most obvious advantage of gearing is that it allows you to access more funds, allowing them to reap larger returns on investments. Having more funds available allows you to take advantage of opportunities as they arise and diversify their investment portfolio. When a good speculative or share opportunity arises, you can have quick access to funds and will benefit from taking out a quick cash loan.

However, borrowing to invest can also become a disadvantage. That happens when the interest and costs associated with the investment are more than the income you receive from the shares, property, or any other kind of investment.

For more on borrowing to invest, read this article from Australian Securities Commission: https://www.moneysmart.gov.au/investing/borrowing-to-invest

Should I Buy an Investment Property?

Many business-minded individuals are becoming more excited about investing in real property. This makes perfect sense as you become aware of all of the advantages of making a rental property investment.

There are some reasons why these people are becoming excited:

Owning a real property is more than just some numbers on a monitor. Real estate is in something physical, which has real solid value, can give you added confidence. While real estate may fluctuate, rarely does it go through the wild swings of the stock market.

Real properties can be a solid investment even in serious real estate situation. When people lose homes, or cannot afford a home is when rental property is at best. During that time, these people need a rental the most. As a rental property investor you are providing a great service for your community, while enjoying the benefits of a good income source.

Moreover, property offers you an income stream. You will have monthly payments coming in each month from your tenants. While you must deduct out the cost for any mortgage payments and other costs, it is a lot better to generate constant income, instead of constant cost. As you pay off your mortgage, the rental income can quickly be the source of high income.

But just like other investments, there are some things you need to consider before buying a rental property. Read this article for more details: http://time.com/money/2954483/should-i-buy-an-investment-property

Choose Your Business Structure

Do you know the types of business structures? The type of legal structure you choose for your company is the most important of all the decisions you make when starting a business. Knowing the right type of business structure is also important when computing your taxes.

Perth BusinessesAside from having a big influence to your tax payments, it will also affect the amount of paperwork your business has to do, your ability to earn profit and the personal liability you face.

The following are the type of business structures:

Sole proprietorship – for those who want to work alone, sole proprietorship structure can be the best for you. It is the simplest structure which only involves just one individual who owns, at the same time operates the entire business.

Partnership – partnership is a type of business where there are two or more people who share ownership, management decisions, gains and losses.

Corporation – is a legal entity that is separated from those who founded it as it handles the responsibility of the organisation. Like a person, the corporation can be taxed and can be held legally liable for its actions.

To learn more about business legal structures, their advantages and disadvantages, you should read this blog post by Entrepreneur.com: http://www.entrepreneur.com/article/38822

Cheese posties, flat-packed shoes, personalised potatoes: These are the world’s weirdest businesses

Starting a business regardless of its size is an exciting chapter of your life. Probably, it is the most challenging decision of one’s life – the fear of being regarded as a failure by yourself and the people around you is maybe the toughest hurdle to overcome.

Perth Business News

Glitter Bomb: Weird business idea

Leaving your job and starting your own business takes bravery. This decision may bring you plenty of challenges but it can potentially change your life if you make the right decisions and work hard.

There are many benefits you can get if you decide to become an entrepreneur. Probably, the most obvious is that you become your own boss. If you don’t like being told what to do, becoming an entrepreneur might be the right path to take especially if you have plenty of initiative and self-discipline.

Secondly, you get all the rewards. When your business generates income, you don’t have to share it with someone. No one else but you will benefit from the fruits of your labour.

Another reason why starting a business is an advantageous decision is that you choose what work to do. You have your own time so you have all the freedom you need to do whatever you want.

Indeed, there are many benefits of having your own business. However, there are also some challenges that come with it. Coming up with the right business idea is probably the toughest. Knowing what you really want is important even though it is weird.

For some of the world’s weirdest ideas, check out this post: http://www.news.com.au/finance/small-business/cheese-posties-flat-packed-shoes-personalised-potatoes-these-are-the-worlds-weirdest-businesses/story-fn9evb64-1227491886605

Know more about Commercial & Office Cleaning Companies in Perth

Do you know what services Southern Cross Cleaning commercial or office cleaning companies offer? Commercial or office cleaning companies provide professional services which refers to all cleaning that is carried out in offices, stores, factories and other spaces for commercial purposes.

office cleaning companies PerthCommercial and office cleaners are professionals in this cleaning field. When carrying out cleaning services, they make sure that every single spot in your building is cleaned and nothing can be seen dirty or messy right after their cleaning. They know how to deal with all kinds of dirt and stains as they are trained to do so, plus they are using the most effective cleaning products and equipment so you can rest assured that these experts can give you a spotlessly cleaned office as they always keep in mind that the environment should be spic and span is very important in bringing a fresh and welcoming effect to your company’s visitors and clients.

Aside from spotless cleaning results, another advantage of hiring commercial cleaners is that they also use safe cleaning products and methods. Most commercial cleaning companies are already concerned about the environment so they use environmentally and health friendly cleaning products.

These are the services offered by commercial cleaning companies. Because of the many advantages they can give to business owners, this industry has become one of the fastest growing in Perth, WA.

 

Read our article about Self Managed Super Funds.

Property Investment Guide: Purchasing Rental Property

Investing in real estate is one of the most popular forms of investment because of their advantages. With this business form, investing in rental properties is by far the most lucrative, offering investors a twofold investment return.

However, there are some important things to consider before you purchase your first rental property. You need to plan every detail of your investment strategy and pay attention to the day to day management and maintenance as well as rental contracts. This is the only way you can take advantage to your rental investment.

For more tips on buying and managing rental properties, watch the video below:

Advantages of Marketing Business Through the Internet

The internet has given the world a lot of convenience and versatility. This allows so many people to take advantage of this technology not only to communication, entertainment and information, but to business marketing as well.

Today, people have discovered different ways to use the powers of the World Wide Web for the purpose of marketing. This type of modern marketing is very popular amongst all businesses that operate today.

There are so many popular methods of internet marketing and all of them are very effective. With the use of the internet, building brand awareness among consumers has become much easier and more effective.

To learn more about the benefits of marketing your business online, check out the video below: