Are you thinking of starting a small business? Maybe you have a hobby that’s becoming a business? This course will help you understand the difference between a hobby and a business, the most common business structures and the registrations you may need to run a small business.

There are several common factors shared by successful small businesses. Set your business up for success using digital options that are appropriate to your business needs, gain an awareness of action in your business that trigger tax obligations, keep accurate business records, and know where to seek professional help.

Did you know that successful businesses keep good records and use technology to run their business? Good record keeping helps you know the state of your business at any time which helps you manage your business successfully. You’re also legally required to keep records of all transactions relating to your tax and super affairs while you’re running a business.

Cash flow management is critical to the success of any business. In this course you will learn critical cash flow management skills to work out your cash flow position, analyse your cash flow, test potential cash flow improvement strategies and to track and monitor your business cash flow.

There are several options on how to pay yourself if your business is a company or trust. It’s important to understand the options and their different rules and record requirements so you can be sure you’re paying yourself correctly.

A self-managed super fund (SMSF) can be attractive for people who seek control over their retirement investment. However, managing an SMSF is a major responsibility and when you set up an SMSF, you’re in charge. Avoid the potential financial impacts of getting it wrong.

Closing a self-managed super fund (SMSF) can be complex and it’s important to get it right to avoid costly mistakes. Learn about the obligations you must meet when winding up an SMSF so you avoid penalties.