Key Proposals For A Small Start Up Business Essay

1 Outline the key proposals contained in the budget for 2015-16 and 2016-17 that may impact on small business owners in Australia. Identify any limitations of these proposals for a small start-up business in regional Australia. The key proposals outlined in the 2015, 2017 and 2017 Federal Budget proposals that may impact small businesses include tax cuts and incentives to â€Å"cut red tape and encourage start ups and entrepreneurship† (Australian Government , 2016). A tax cut of 1.5% will reduce the small business tax rate down to 28.5% for business with an annual turnover less than $2 million (Australian Government, 2016). Unincorporated businesses with an annual turnover less than $2 million will have a 5% rate cut. Similarly to the previous year the 2016-2017 small business tax rate will be lowered by 1 per cent to 27.5 per cent. Also the turnover threshold for small businesses increased from $2 million to $10million giving access to other tax incentives. This increase was influenced due to the fact that the Australian corporate tax rate is high by international standards and if Australia is to be competitive in the 21st century it needs a competitive tax system (Australian Government, 2016). Tax cuts are introduced to improve cash flows, encourage growth and competition, and assist in employing new staff. However, this may limit small start-up business in regional Australia because should a business employ new staff and increase its turnover, the business will jump into aShow MoreRelatedSmall Business Technology By Bill Simms917 Words   |  4 PagesSmall Business Technology It was an ordinary Thursday evening in suburban Richmond, Virginia. 7PM. Bill Simms makes a right turn on to the expressway ramp in a bid to make it on time to meet his wife for his daughter’s ballet recital. He was happy that his new painting business was beginning to thrive. After being laid off, it came as a big relief that private home and small business clients were starting to find him. Though he always had a general affinity for painting, owning a painting companyRead MoreBis 220 Week 2 Information Systems Proposal Essay example1124 Words   |  5 PagesWeek 2 – Information Systems Proposal Take Me Back When Record Store A Business Proposal to Establish A New Nostalgic Music Store Prepared for Shelli Smith Potential Business Partner and Co-Owner Prepared by Cindy Johnson Entrepreneur October 11, 2012 Proposal Number: CJ20-01 Table of Contents Background 4 Objective 4 Goals 4 Proposed Inventory 5 Information Systems Table 6 Read MoreRgdfg1181 Words   |  5 Pages|INTRODUCTION | |The Guideline and Template Content Starts on the Following Page | |Delete guidelines before final submission of document | |THIS DOCUMENT IS LIMITED TO 4 PAGES IN LENGTH Read MoreThe Concept Of Organized Business1491 Words   |  6 PagesThe concept of organized business is not as new of a concept as you might think it to be. People have associated themselves with like-minded individuals to achieve common goals for centuries. In fact, organized business can be traced as far back as the 4th and 5th century in the Roman Empire. In spite of being a monarchy, many businesses would be given special license by Caesar to operate as a single entity to carry out tasks essential to the function of Roman society. This type of grouping may notRead MoreDenTrain Tablets and Printers for Your Company Essay692 Words   |  3 Pageslarge organizations have made less than 5% of their internal daily business processes paper free. If paper is that critical to businesses in general, how critical is it to you in the publishing industry? You have stated you have no interest bringing the final production in house due to the high quality, high speed, and low cost of your bulk printing partner. The key point here is that winning your customers business does not start with the final product. There is a large amount of correspondenceRead MoreHow Entrepreneurship Is Important For The Growth And Development Of A Nation And Boosts1398 Words   |  6 PagesIntroduction Enterpeship is the act of arriving at a business idea and accumulating the resources required to start and run the venture. The resources could be financial or human who would participate in the routine roles of the firm. It is the ability to accept the various risks associated with the business type and taking the initiative to make the profits amid inherent start-up challenges. The individuals engaging in entrepreneurship are entrepreneurs who are innovative and self-motivated to succeedRead MoreProposal For Services For First Class Automotive Repair1081 Words   |  5 PagesOMNIBUS INDUSTRIES PROPOSAL FOR SERVICES For First Class Automotive Repair OVERVIEW Omnibus Industries is pleased to submit this proposal for services to assist First Class Automotive Repair with expanding its operation, both online and offline by providing a complete web presence solution and marketing strategy. We have partnered with many small businesses throughout Canada and are committed to utilizing our extensive experience to meet the needs of First Class Automotive Repair. Objective Read MoreCase Study Central Transport, Inc804 Words   |  4 PagesAssignment: Week 3 Case Study Central Transport, Inc Jason M Williams/3111448 23 March 13 TLMT441 Advanced Business Logistics American Military University Instructor: Roxanne Grosett Introduction Susan Weber, the new president and CEO of SAB Distributions has offered a new collaborated relationship to Jean Beierlein, president and CEO of Central Transport. Dramatic changes in the market have changed SAB, and it continues to get worse. SAB is losing the competitive advantage overRead MoreProposal For Savvy Chic Apparel Operating Plan884 Words   |  4 PagesProposal for Savvy Chic Apparel Operating Plan Opening a new retail business can be daunting to say the least. The entrepreneur accepts full responsibility for development and management, including the risks and rewards. Many businesses do not survive to see their fifth anniversary since business owners fail to develop an effective business plan (Haag, 2013). The key to the success of a business is writing a business plan down first, when preparing to open a business, it emphases on the main areasRead MoreLease To Own And Energy Case Study1061 Words   |  5 Pageswill have to pay to access the electricity by recharging the solar pv system. Customers are allowed to acquire the system at a fraction of its full price. its required that they top up the with credit to have access to the electricity or else once credit is exhausted the system temporarily locked out until another top up is made. Value Proposition Horizon power limited is offering its customer a reliable source of power that is constant and affordable. The value of this product will have a positive