There’s a new kind of debt on our radar 👀
Things that should be on your radar this month 👀
1. The ATO’s announced changes to working from home deductions that better reflect modern home office arrangements. Find out how the revised fixed rate method will impact what you can claim.
2. Wage growth reached its decade peak over the December quarter, according to the ABS. Annual growth is sitting at 3.3%, with the private sector recording a whopping 3.6% vs 2.5% in the public sector. Meanwhile, Xero’s stats suggest wage pressure is easing off the small biz sector with just 2.9% growth recorded in the year to January.
3. The HIA expects building starts for standalone homes to drop by 21% this year as interest rate hikes finally hit the construction industry. Next year’s build starts are forecast to drop to their lowest point in more than 10 years 🥶
4. Small business health has slipped into the critical zone, as owners start to feel the rising cost of living impacting their customers. Xero’s small business index for January tumbled by 26 points with the drop in sales and jobs growth.
5. Filled up your car with petrol or bought some groceries this week? Auror was probably watching. Find out how this NZ startup aims to solve $100 billion in retail theft every year, and what details they can share about your habits with authorities 👀
Tech recs that put more fuel in your tank
📅 Rise: This clever app helps you optimise your productivity based on your natural energy flow. By helping you work WITH your circadian rhythm and understand your sleep debt, you’ll plan your way to better performance.
😴 Sleep Cycle: Keep scrolling if you’re not ready to learn about your snoring habit. This app keeps an ear out for disruptions while you sleep, and helps you wake up feeling refreshed with a 30 minute alarm window.
🛏️ Google Nest: Google’s Sleep Sensing technology uses motion and sound to analyse your sleep. After getting to know your patterns, it makes helpful suggestions to improve your sleep schedule, consistency and restfulness.
The highs 📈 and lows 📉 of small business life
📈 This month, we sat down with our marketing agency (hey there, Slice 👋) to plan for the next quarter and new financial year. It got us feeling super excited about the projects we have in the works that we can’t wait to share with you all.
📉 We recently took a moment to reflect on the accounting industry after a spate of new work and discussions with other great accountants gave us some troubling insights. A lot of the clients we’ve taken on have left their accountants because of really poor service and advice. We hate to say it, but we feel pretty disappointed with some of the goings on in the industry.
Productivity hacks 👩💻
- In case you skipped over our tech recs, our message is pretty clear this month: Get your rest. Instead of spending the day downing caffeinated drinks and getting frustrated at your natural dips in energy, think about how you can better structure your day.
That could look like tackling your most challenging tasks at 10am, or scheduling a 2.30pm meeting to perk you up through your afternoon lull – and don’t forget to schedule in enough time to wind down before you want to sleep.
- If you feel weighed down by rising costs, it’s worth looking at spending as an investment rather than an expense – particularly when it comes to travel and networking opportunities that could lead you to new people. A conversation with a stranger can teach you something small, or take you somewhere big.
- Speaking of mindset shifts 👆 there’s no better productivity hack than improving your outlook. A growth mindset can be something you’re naturally gifted with, but it can be developed (and understanding that you CAN teach yourself just about anything is all part of it).
By becoming more resilient, you’ll waste less time dwelling on setbacks, and swiftly identify the solutions that’ll keep both you and your biz moving forward in the right direction. You can find out more about growth mindsets in this handy article.
<div class=“line-break”></div>
If February went way too fast and you already feel like you’re treading water, remember: There’s nothing you don’t have the power to change (even if it might take a bit of effort). Start by thinking about how you manage your wellbeing, days, and the people within them.
If you’re overworked, take a look at your team. Consider whether any talents could step up, and who needs more nurturing to thrive. It might seem like you don’t have the time to invest in training now, but it’ll cost you more down the track if something unexpected happens.
We’ve recently gained a lot of team building insights from reading The 6 Types of Working Genius by Patrick Lencioni. By identifying the different types of working geniuses, you’ll be able to identify motivations, understand frustrations, and match your team with tasks they enjoy to boost workflow.
And if you’re feeling sluggish heading into the next quarter, schedule time to spend with your professional community to remind you of the ‘why’ behind what you’re doing. Grounding can be just as invigorating as goal-setting.
That's just our two pennies' worth.
- Liam and Amy, co-founders of Project Alfred
(changing the way people think about accounting)
Recent issues
.png)
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.
.png)
We look at the Startup Daily Best in Tech Awards, delve into the implications of the 2024 federal budget’s 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, Calendly’s enhanced Chrome extension, and Google’s TextFX for creative AI prompts. Remember to attach PDFs to your Xero invoices for a productivity boost to reduce errors.
.png)
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.
.png)
As their public dispute goes nuclear, we’re 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 Australia’s first tech unicorn in two years, and examine some of the latest startups that have raised money this month.
.png)
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.
.png)
We’ve started the year at break-neck speed, onboarding two exciting new clients, growing the Project Alfred team, getting frustrated at the Australian government’s proposed changes to sophisticated investors, reading about Atlassian’s 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 Liam’s fundraising page will be matched by Project Alfred - so if you can afford it, we’d love you to contribute. … And a reminder: every donation is tax deductible!
.png)
Christmas is around the corner, so notify your staff about leave requirements if you’re 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 ‘the meeting that could’ve been an email’, 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 ‘real’ 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 that’s 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 that’ll 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.
There’s been a spike in company insolvencies that the AFR is describing as a “zombie apocalypse”, advice from HR experts on how to promote work-life balance in your team, a Slack feature we don’t think gets enough airtime, a monitor stand we’re 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 UK’s four-day workweek trial didn’t 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 you’re burning both cash and energy, and how to get excited about the next quarter.
An important reminder about what AI can and can’t 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 ‘til Christmas 🤯), 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 we’d 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 that’ll 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 Australia’s future, Slack shortcuts we can’t 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 who’s into design will love.
Did ASIC actually just kill off 'finfluencing’, 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 we’re 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 Bowl…and we’re 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 ATO’s 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.