Business Tips

Running a business

To keep your business running smoothly, it’s important to regularly assess how your business is doing. Check your business finances and see what you could do to help improve your financial position with our Small Business Resources, including a range of ‘how to’ guides, online training modules, videos, tools and calculators.

Most recent from Running a business

How to reduce costs

Cutting costs is arguably the quickest and easiest way to improve the profitability of your business. Introducing a cost-control system can bring immediate savings and ensure that you remain competitive in the longer term. Systematic cost control Start by identifying your major cost centres. These may be purchasing, production, sales ...

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How to get better deals from your suppliers

If you’re on good terms with your suppliers, you have a better chance of getting special deals or preferential treatment. They might also be kinder to you if you ever face a cash shortage and need some time to pay your accounts. Build the relationship An efficient payment policy is ...

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How to write a business plan

Whether you’re an established or start-up business, it’s important to have a plan to help you achieve your goals. To make this easier, we’ve created a free business plan guide and template. A business plan outlines your strategy for the next couple of years. It may be used to help ...

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How to use cash flow forecasts

Understanding cash flow is the key to running a successful small business. Good cash flow management will help ensure your business runs smoothly and it gives you the insight to keep on top of your business’ financial health. What is a cash flow forecast? A cash flow forecast is an ...

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How the PPSA can impact your business

The Personal Property Securities Act (PPSA) changed the way security interests are dealt with across Australia by establishing a single national law, governing security interests in personal property. As a result, there are some significant implications on businesses.

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How to identify your business drivers

Identifying and monitoring the key drivers of your business is critical to boosting profitability. A key business driver is something that has a major impact on the performance of your specific business. A whole range of internal and external factors affects the performance of every small business. The secret is ...

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How to avoid bad debts

Getting paid on time is important to the financial health and wellbeing of your business. Having good credit control is important for maintaining a healthy cash flow and a profitable business. While good credit control can help avoid late payments becoming a serious problem, there may still be times when ...

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Top Business Tips for 2013

There’s no doubt that life as a small business owner is challenging. Confidence levels have fallen, profitability has been stretched and cash flow remains a challenge for many businesses. However, despite the challenges, NAB is optimistic and committed to supporting small businesses. We recognise the potential and opportunity that lies ...

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