A trustee company is a legal entity that acts as a fiduciary, agent or trustee on behalf of a person or business for the purpose of administration, management and the eventual transfer of assets to a beneficial party. Trustee companies provide independent trustee services and can undertake the following activities: Producing offer…
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The key to exceptional business results is consistency. If you do nothing else, be consistent. Consistency doesn’t mean being the best at something or providing the highest quality, it means providing predictable, reliable results to the customer or client every time you do business with them. Consistency creates the reputation that your business will be…
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A super fund trustee company is a type of special purpose proprietary company that is only permitted to act as trustee of a self-managed superannuation fund and cannot trade in any form or to act as a trustee of any other trust. A super fund trustee company’s constitution must contain a clause prohibiting the company…
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The layout of your retail store determines the way that traffic (customers) flows through your establishment. The better you understand retail store traffic, the more effective your store layout will be. Research has demonstrated that stores that are laid out effectively will have an increase in sales conversions. An effective store layout directs…
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A shelf company is a company that has not traded and historically has had no activity. In the past it could take up to two weeks to incorporate a company, yet people often needed a new company quickly, so providers of company registration services would register companies and have them 'sitting on the shelf', ready…
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The Export Market Development Grants (EMDG) scheme is a key Australian Government financial assistance program for aspiring and current exporters. Administered by Austrade, the scheme supports the export of intellectual property and know-how outside Australia. The EMDG scheme: Encourages small and medium sized Australian businesses to develop export markets. Reimburses up…
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Increasing the average transaction size will increase sales revenue. For example, a 20% increase in average transaction size will result in a 20% increase in total sales revenue. To implement this strategy: Change the product or service mix – i.e. add higher priced products and/or reduce lower priced products. Bundle products…
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Unlike private companies, under the Corporations Act public companies can raise capital from the public, and have unlimited shareholders. These two attributes make public companies an attractive structure when businesses need to raise large amounts of funds. Compared to private companies, public companies are subject to additional administration and regulatory costs (i.e. half-yearly financial statement…
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Raising your selling prices will increase sales when your product or service has an inelastic demand curve i.e. when you raise prices and there is minimal or no change in volume sold. This is a profitable strategy when higher prices produce greater gross profits due to increased profit per unit, even if volume has fallen. …
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Lowering your selling prices will increase sales when your product or service has an elastic demand curve i.e. when you slightly lower your prices, volume goes up substantially. This will be a profitable strategy if lower prices produce greater gross profits due to increased sales volume even though the profit per unit has fallen. …
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