10 Distinct Advantages For Any Business
1. Take The Stress Out Of Legal Compliance — You Can Be Audited At Any Time!
Not all small businesses fit into the same legal box. Every structure, whether it's a sole trader, partnership, a Trust or company, has different considerations with respect to liabilities and taxes.
Far too many (73%) SMEs managing their own tax at EOFY are naive to the deductions available to them. This indicates Aussie SMEs are missing out when it comes to tax-time, by not taking advantage of the deductions, tax-cuts and new claim areas available to help them thrive.
Indirectly bO2 tax essentials are helping us to grow our business. It’s straight to the point and makes communicating with my accountant very easy.
2. By Ensuring Small Businesses Stay In Compliance, An Accounting Professional Provides A Highly Visible And Tangible Example Of Their Value To A Small Business Owner.
In addition, your knowledge of tax laws and legislation is highly valuable. You can use bO2 Tax Essentials to suggest ways to free up cash flow, save money and raise capital for expansion.
Given my current job responsibilities and CPA aspirations, bO2 is great for enhancing my technical knowledge and competence. Ultimately it’s my boss that is the beneficiary of all the info I get. Great read!
3. Manage Change Effectively
If your business is contemplating introducing workplace drug testing, we can help you with all aspects, including developing a drug and alcohol policy, procedures and testing.
Many organisations stumble when major change needs to be undertaken. New systems, new workplace contracts or cultural changes to enhance productivity can unsettle staff. The keys to success are foresight, planning and engagement.
When it became law that we had to do compulsory Drug and Alcohol testing it was met with so much resistance from our employees and contractors. We took on the advice in the bO2 drug testing toolkit we now find that as long as our employees are confident in the procedures, including the accuracy of testing and the steps taken, they’re very supportive of our company’s drug testing process.
4. All Our Publications Are Written In Practical Terms.
They are technically proficient, just not as technically descriptive... so you’re not paying for unnecessary information.
Our family business, being a smaller contracting company, requires an easy to implement safety system which is tailored to our individual needs. I’m currently employed full-time as a WHSO at a large hospital so I am highly aware of the requirements for safety management but do not have the time to develop it myself. Thanks bO2 you saved my sanity!
5. An Effective CFO Is Concerned With Revenue.
Because revenue is the focus of the CEO and it is used to pay the business' expenses. This Leads To Sales, Sales Management, and Customer Service And Related Topics.
My bO2 membership gives me an independent and dedicated tax publication that provides insight to the Australian Tax System through an open, informed, and expert understanding of tax policy in Australia. Over the years I’ve found the writers committed to discovering, disseminating, and discussing ideas and information free from ideological and special-interest agendas.
6. Human Resources Are Critical To Business Success, And It’s Where Much Of Any Company's Operating Expenses Are Allocated.
Compensation, Motivation, Performance Assessment and More...
Our members achieve high levels of employee engagement which results in superior business performance.
What a great find! Truly helped me get a better understanding of our obligations and responsibilities. We were struggling to make heads or tails of the Fair Work Act and the Smart guides give us access to clear, concise and relevant information regarding different employment regulations and difficult staffing issues.
7. HR Can Be Complex And Time Consuming – We Make It Easy.
The Link Between HR And Profit Is Proven — Manage Your People Better For Better Results.
Do you know your legal rights and obligations? What are the laws? What are your responsibilities? What documentation is required? Getting it wrong can cost you a fortune. It ties up management time and can be complex to navigate. Better to get it right in the first place with expert advice.
The thorough documentation, especially the readymade policy manual has saved me so much time. It’s easy to edit and the ability to create multiple copies for all of our vehicles is great.
8. The Time And Tools You Use Now To Employ And Retain Staff Can Save Thousands Down The Road.
I had planned to set up my own system but never could get around to doing it. As our company grew and the number of employees increased we realised it was becoming more important to have our HR procedures in place. The cost seemed less important than getting a system in place. I now can stop worrying about the hassle of creating all the documents myself.
9. Risk Management Made Simple
The vast majority of our members are small to medium sized businesses that lack the time and resources to research and prepare their own WHS documents or SWMS however still require the same levels of compliance in order to perform their work.
They make us look really professional... the companies we tender to think we prepared them ourselves. As a result we were able to secure a large tender within our line of work.
10. Workcover Issues Managed
Every company faces the prospect of an accident. The key to staff safety and Workcover responses lies in your planning prior to an accident. Are your staff trained in machinery usage? Are event procedures in place? The penalties are severe if you haven’t thought ahead.
What are the correct responses to a Workcover notice? How should you deal with inspectors? What documents are required?
After researching various providers and packages, I can highly recommend all bO2 business essentials. The package we chose has been easily incorporated into our current systems and the information and forms supplied are practical and easy for our staff to use on site.