In October last year, the government introduced temporary full expensing of eligible business assets in a bid to help businesses continue to survive the economic fallout of Covid-19 and the restrictions and chaos that ensued and to help boost Australia’s economic recovery. If you are wanting to upscale your business and start the new financial year on the right foot, equipment finance may be the way for your business to take advantage of this scheme.
It is estimated that 1 in 3 Australian small businesses close their doors within the first year, two out of four by the end of the second year, and three out of four by the fifth year. Running a successful small business takes hard work, perseverance, the ability to pivot when necessary, a good business plan and clear goals.
As many small business owners are struggling at the moment, we want to share with you our tips to help you achieve your goals and keep your business dreams alive.