What the Super Bowl has to do with accounting đ
Things that should be on your radar this month
1. ICYMI, the High Court recently made two important rulings about workplace contracts for employees and independent contractors.
2. A third round of SA Covid Grants has been announced. Details on the support available for businesses impacted by the health restrictions can be found here.
3. The Federal Government announced a doubling of funding for free mental health support to small business owners, along with an additional $2.1m to extend the Small Business Debt Helpline.
4. Businesses in the RAT race, beware of fringe benefits tax.
5. There are heaps of business loans out there, so how do you choose the right one?
Tech to help streamline your business
Espresso Displays - We're seriously impressed with the specs on these. Theyâre the worldâs thinnest portable display, and are light but also durable so you can set up a productive workspace anywhere you go â we love ours, it makes work travel a breeze (see it in action here)!
Invoice Scheduler - If your sales team uses Hubspot, this is a powerful app that allows them to send invoices to Xero and create Xero contacts pre-populated with client data without leaving HubSpot.
Workona - For people who always have a lot of tabs open in their browser (guilty!), this browser extension allows you to organise all the links you need to come back to, project by project, in different browser workspaces.
The highs + and lows â of small business life
+ Weâre making our first new hire! Weâre blown away by how quickly weâre growing and weâre very excited to bring on a new member to our team soon (if you know a junior accountant who might be interested, send us an email for more info).
+ As big NFL fans (and big advocates of flexible working) we took the time to watch and celebrate the Super Bowl last Monday! đ What a finish! đ€Ż
â Weâve had to have some tough conversations recently. Sometimes you have to know when to cut your losses. Not everything in business goes your way, but weâre big believers in the idea that when one door closes, another one opens (and thatâs certainly been true for us lately).
Things to think about and try this month
Quick read: Check out our top tech picks for 2022. Thereâs so much tech out there you can harness to save yourself time, and this is our list of the apps we think everyone needs to know about this year.
Longer read: An unexpected bonus of starting our own business has been meeting the people behind businesses doing some really cool things. We recently had the pleasure of talking to Paytron co-founders Francois Henrion and Jaco Veldsman to learn more about their experience as fintech entrepreneurs. If you're on your own startup journey, this is a must-read!
Productivity booster: Do you already use Xero for invoicing and accounts but want to get a better grasp of where time's going (and how that's impacting your bottom line)? Try Xero Projects â you can record expenses, track time and check your profit margin on any project/job.
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We canât believe weâre nearing the end of February already (itâll be EOFY before we know it, and weâre already getting ready for the influx of new clients that time of year always brings). We hope your 2022 has started well and youâre starting to put some goals and strategies for the year ahead into action, particularly when it comes to growing your business.
That's just our two pennies' worth.
- Liam and Amy, co-founders of Project Alfred
(changing the way people think about accounting)
Recent issues
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We dive into the real-world impact of economic pressures on innovation, with the ABS revealing that a third of Australian businesses are grappling with funding for innovation. We highlight innovative solutions like the barter system at Tasmania's Timbre restaurant, which collaborates with local farms and community gardens to source fresh produce. Get the latest update on Guzman y Gomez's surprising IPO listing, explore funding opportunities for South Australian startups, and discover Google's new AI Accelerator program for Aussie startups.
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We look at the Startup Daily Best in Tech Awards, delve into the implications of the 2024 federal budgetâs scant mention of startups and learn about Airwallex's recent financial dip. Celebrate Melodie's $1m funding success and discover how using the correct pronouns might boost your revenue by 7%. Explore exciting tools like Gamma for automated content creation, Calendlyâs enhanced Chrome extension, and Googleâs TextFX for creative AI prompts. Remember to attach PDFs to your Xero invoices for a productivity boost to reduce errors.
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We share insights on navigating startup funding challenges, learn about Anzac biscuit regulations, and find inspiration in the comeback of Milkrun and Voly founders. In our tech corner, explore cool tools like an AI-powered QR Code Generator and a lightning-fast website design platform. For a productivity boost, streamline your bill management by sending bills straight to Xero via email.
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As their public dispute goes nuclear, weâre diving into the fistfight between Employment Hero and Hostplus. We'll also examine the trials and tribulations of Australian SMES grappling with payroll errors, uncover the truth behind cashback rewards, celebrate Australiaâs first tech unicorn in two years, and examine some of the latest startups that have raised money this month.
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We look at Hatch, a Gen Z jobs marketplace that has secured $7 million in seed funding to expand nationally, using AI to match candidates with roles based on skills and values. Plus, discover how Taylor Swift's concert at the MCG broke Melbourne's internet, insights on gender pay gaps from the Workplace Gender Equality Agency, and the latest advancements in AI with OpenAI's new system, Sora, generating short videos from text prompts.
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Weâve started the year at break-neck speed, onboarding two exciting new clients, growing the Project Alfred team, getting frustrated at the Australian governmentâs proposed changes to sophisticated investors, reading about Atlassianâs WFH 1000 days progress and exploring new startup blogs.
In our final 2023 newsletter we look at when to pay attention to your brand, the resurgence of startup funding, rebates for Sydney startups looking for office space and some potential relief on the cost of living.
Liam is participating in Movember and raising money for Beyond Blue to support their efforts in mental health awareness and support. Every donation made on Liamâs fundraising page will be matched by Project Alfred - so if you can afford it, weâd love you to contribute. ⊠And a reminder: every donation is tax deductible! â
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Christmas is around the corner, so notify your staff about leave requirements if youâre shutting down. We dive into the Australian funding scene with Employment Hero's impressive cap raise, making them a double unicorn. Learn from a costly lesson about keeping receipts, discover the inspiring journey of Vegemite and find out why work created by AI can't be copyrighted.
How one business has monetised âthe meeting that couldâve been an emailâ, a business that has pivoted its offering as a result of the higher cost of living, a significant payroll underpayment issue making the news and the first ârealâ holiday Liam has taken since starting Project Alfred.
How Barbie & the Matilda's have sparked equal pay discussions, small business grants in QLD, how Australia harnesses students' entrepreneurial spirits, marketing tech we're using, and our August highlights as we celebrate our 2nd birthday.
What direct-to-consumer startups can learn from Barbie, the Twitter rebrand thatâs left question marks over our heads, tech to make travelling for work a breeze, our tip for surviving the second half of the year, and much more.
Some good economic news (finally), the hot new website everyone is talking about (ours, obviously), tried and tested website tech we swear by, a list of 20 small business EOFY tax tips, and much more.
An excellent opinion piece about why work from home is a good thing for society (despite what Elon Musk thinks), a desk setup thatâll make your colleagues green with envy, the TLDR on the PwC tax scandal, some EOFY spending advice we know some people need to hear, and much more.
Thereâs been a spike in company insolvencies that the AFR is describing as a âzombie apocalypseâ, advice from HR experts on how to promote work-life balance in your team, a Slack feature we donât think gets enough airtime, a monitor stand weâre drooling over, and much more.
The TLDR on the banking drama and how it could affect your business, exciting AI tools to keep your eye on this year, the businesses where the UKâs four-day workweek trial didnât work, our non-negotiables when flying for work, and more.
Apps to boost your sleep skills (these do more than just fix dark circles under your eyes), mindset shifts to stop you feeling like youâre burning both cash and energy, and how to get excited about the next quarter.
An important reminder about what AI can and canât do for your business, more reasons you should go paperless (and a stack of great resources to show you how), a workday lunch tip to get you away from your desk, advice on setting effective goals for business growth, and much more.
Our thoughts on work-life balance, projections for the tech industry in 2023, some AI tools (or toys) to play with over the break, highs and lows of the year that was, and more.
Tips for making the most of December (T-minus 21 working days âtil Christmas đ€Ż), a step-by-step guide to registering for your company director ID, one of our favourite tech recs of 2022, an important cause close to our hearts that weâd love you to support (scroll to the end to find out how), and more.
How to protect your business from cybercrime, apps to build a connection with your colleagues and customers, the science behind the perfect productivity playlist, and more
Three tech recs thatâll make your life 10x easier, the impact of late invoices on your cash flow, the pros and cons of going to a conference, a massive shout out to our community, and more.
The technology shaping Australiaâs future, Slack shortcuts we canât live without, and tech recs to help you share your knowledge online.
Tips for hiring in a tough labour market, an ominous shift in pricing strategy for subscription models, and tech recs to help you grow your team.
Some new economic policies coming in on July 1, tech recs to help you celebrate (or survive) EOFY, and some tips for cultivating a growth mindset next financial year.
Some tips to help you focus, proposed policies on the horizon after the election, the crash of a not-so-stable stablecoin, a big debate we had on LinkedIn, and some tech recs that anyone whoâs into design will love.
Did ASIC actually just kill off 'finfluencingâ, ideas for designing your perfect work week, tech recs to level up virtual meetings and a sneak peek into the tech stack we use here at Project Alfred!
Tech recs and productivity hacks to help hybrid workplaces get the best of both worlds, our thoughts on the latest Federal Budget hot off the press and an audio book weâre loving right now.
High Court rulings around being an employee or an independent contractor, funding for Covid-affected businesses, great news about mental health support for small business owners, some new favourite tech finds, the Super BowlâŠand weâre hiring!
22 things you should do to help your business in 2022, what records you need to keep and what you can let go of in the new year, why eating a frog is the best way to start your day, and some of our highs and lows from the last month.
How to stay on the ATOâs nice list this Christmas, our how-to guide for director IDs, small business trends for 2022, how to work smarter not harder, and some of our own recent business highs and lows.