With interest rates as being forecast for a further 25bps rate cut by Oct 2019 and a further 25bps thereafter in Feb 2020, taking the Cash Rate to 0.50%, which major banks are expecting will remain for the duration of 2020
Our Views
With interest rates this low and further cuts being predicted, our view is that this is a signal that the RBA & Government are concerned that economy is not doing well.
Action
Time to act NOW, which we have included some business tips to review to get your cash flow & business in order.
Tax & Business Structure Review
• businesses should put strategies in place to minimise their taxation liabilities
• its amazing how much difference a good businesses structures can help both tax minimisation & asset protection
Improve the Profit in your business
• use a software tool to stay on track and automate your accounting & reporting
• undertake waste reduction session, we recently completed one with a client and saved them 35,000 in first month in reduced ongoing costs
Improve the finance structure your business
• Expand payment options for customers & stop acting like a bank
• financial health and debt review, especially given the low interest rates & current property values
Contact us before 31 August 2019 for a FREE business health review.