MARKETING A FESTIVE SEASON
With just over 2 weeks until Santa makes his way down the chimney, have you made the most of this festive season for your business? Marketing is one aspect of your business that should never take a vacation. The holiday season is the perfect time to keep those marketing activities rolling. This article looks at how you can network and market yourself during this holiday season.
Chamber of Commerce: Call your local area Chamber of Commerce and see what events you can participate in, many Chambers of Commerce allow potential members complimentary visits during these seasons.
Membership based networking: Membership sites are gaining popularity, take advantage of one that best suits your business. Research social media sites for like-minded businesses with whom you wish to collaborate.
Send out Christmas cards to past, present and future clients and customers as well as referrals. Make sure to personalise them in some way so that it has your personal touch included.
Host Christmas parties and invite all clients and referrals. Be sure to encourage the invitees to bring along a couple of their colleagues or acquaintances so that you can get to know your clients and their friends on a personal level.
Got any insight or advice for marketing in a festive season? Share with us now.
ATO Updates - Fringe Benefits Tax (FBT)
With the festive season upon us, we would like to take this opportunity to remind you about the Fringe Benefits Tax (FBT) implications which may arise from holding Christmas parties for clients and employees, and providing them with gifts.
In brief, you may need to consider how this will effect tax deductibility of expenses and the liability to pay FBT. The main elements to consider are:
* Benefits to past, current and future employees can produce an FBT liability;
* Provision of food & drink on a business day on your business premises to current employees is an exempt Property Benefit and therefore will not result in FBT;
* Provision of food and drink and/or gifts to employees and their associates will be exempt from FBT if the costs is less than $300 per person per benefit regardless of the location and time of the event. This is the Minor Benefit exemption;
* The Minor Benefit exemption is conditional on further regulations, most significant being that the benefit satisfies the Infrequent and Irregular Criteria. Therefore the exemption will not apply if the benefit is provided regularly to staff. An isolated Christmas Party will unlikely been deemed a regular event.
* Provision of food & drink to clients is never subject to FBT and such costs are not deductible;
* Provision of Gifts to clients will not be subject to FBT, and the deductibility of these costs will depend on the link between the cost of the gift and your income producing activities.
For more information on the subject, you may review the ATO fact sheet on the matter using this link.
Source: RDG Business Professionals
HOW HEALTHY IS YOUR BUSINESS?
When we don’t feel the best and it’s more than a cold, most of us go to our GP, a professional on the workings of the human body. We may even as we get a little older go for a yearly check up. We do this with our motor vehicles as well. If we are not a mechanic then we take our vehicle to one to have it serviced and repaired so as it in top working order to provide that best performance.
Why don’t we do this with our businesses? One reason may be because we know our business better than anyone else. Another, It is a cost that I can do without in my business. I have good sales and good margin, I control my inventories and I make a healthy return thank you very much.
But business is more than just sales, margin, and inventory. There are 8 critical areas / departments / focuses within any business. Some of them are more critical than others depending upon the industry. These critical areas are:
1. Planning
2. Marketing
3. Sales
4. Production / Operations
5. Financial Management
6. Financial Strength
7. Training & Management
8. WHS & Industrial relations
Weaknesses in any of these areas may with the right conditions cause a lot of harm to a well performing business.
What would you say if you could get access to a report which could identify in which areas you may need to do some work? Ok, what if I said that the report was FREE, yes FREE? Now we are getting somewhere. I’m hearing you, nothing is for FREE. Your right, you have to take 30 minutes of your time to complete the questions and the report will be emailed to FREE of charge. YOU ARE only cost 30 minutes of your time.
Please click on the following to receive your FREE Business Health Check.
David Nutter (Phone - 0409 472549) is a Business Architect using Enact business systems with over 28 years of business experience.
David is a registered CPA and holds a MBA in Strategy
ENACT It’s not just a name ….It’s an innovation in business thinking!
Enact Business Architects have a “formula for success”: Structure, Systems, Measurement.
If you need help with your business please call 0409 472549 before it’s too late |
