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In small business, you often need to innovate to survive.  Despite this, the level of research and development (R&D) claims by the small business community is minuscule.  While small business employs about half of the workforce, it only represents just over 10% of all R&D claimed. 

For successful businesses, simple business structures often do not work. They leave you risk exposed, are ineffective for tax purposes, and are not efficient for succession or sale.  In the early stages of business life the philosophy often is; keep it simple and low cost.  This may mean trading as a sole trader, in partnership, or through a simple company structure.  Where the business stays small this can be entirely appropriate and may serve you well for the lifetime of the business.

Knowing what assets your Self Managed Superannuation Fund (SMSF) can own is an important part of being a fund trustee.

Michael Goodwin of Professional Investment Services will be at the Smart Steps Office on the 7th of March - book your spot with him now

Social media allows every comment, word, thought, and rant of an individual to be accessible to the world.  Everyone can have a say and much of what is said is often given credence regardless of the source or weight of evidence.