How a Business Plan Can Help Tradies and Contractors with QBCC Reporting
The Importance of Training (Part 4) Theory is required as well as actually building a trestle and planking system.
Insights from your Profit and Loss account Statement of Financial Performance.
What exactly makes FACEBOOK ADS work in 2023?
Direct response marketing to find people needing your services now.
www.aussiepaintersnetwork.com.au
Another amazing month with lots happening!! The I Got Brushed Program is in full flight with the Volunteer Marine Rescue Currumbin in conjunction with MEGT and Major Training, getting prettied up with the participants going great guns and all putting in a fabulous effort. In the first couple of weeks we have already earmarked a few as potential apprentices once the program is complete. So, if you are on the Gold Coast and are considering putting on an apprentice let us know as we will have some for you to start later in the year. They are turning up on time and putting in a good days work. It’s always great to hear at smoko time the comments, “hang on I just want to finish this before I have a break.”
I spent another week on the road catching up with employers and training apprentices in Gympie, Bundaberg and Hervey Bay. A big shout out to Inspirations Paints in Bundy for letting us work out of their carpark and as always Hervey Bay Seagulls for putting us up and giving us access to your facilities. I even squeezed in a visit to Stanthorpe to catch up with an apprentice as well.
We have done a couple more school expo’s and a Try a Trade day with the YMCA. From that we got 4 applicants wanting to get school based apprenticeships, within less than 24 hours we have already placed 2 onto trials.
If you are looking for an apprentice let us know, we might be able to help.
CONTRIBUTORS
• Aaron Gilbert
• Andrei Lux
• Ayesha Scott
• Helen Kay
• Jim Baker
• Leo Babauta
• Mary Cairns
• Nigel Gorman
• Robert Bauman
• Sandra Price
EDITOR
Nigel Gorman
GRAPHIC DESIGNER
J. Anne Delgado
Nigel Gorman
nigel@aussiepaintersnetwork.com.au
07 3555 8010
'Til next month, Happy Painting!!
How a Business Plan Can Help Tradies and Contractors with QBCC Reporting
HR SUPPORT GRANTS for Small Business via the Workforce Connect Fund
How to be more Embodied
Cleaning as SELF-CARE
It can be overwhelming and dreaded … or it can be nourishing and lovely.
Psychosocial Hazards
Anything that could cause psychological harm
The Importance of Training (Part 4)
What Insurance does a business need?
New findings show a direct causal relationship between unemployment and suicide
What exactly makes FACEBOOK ADS work in 2023?
Insights from your Profit and Loss account
I’m Just A ………
myTax is fast and free –So why do 2 in 3 Australians still pay to lodge a tax return?
Industry Idiots
Non-Disclosure Agreements
One essential tool to safeguard your IP
Important Contacts
Opinions and viewpoints expressed in the Aussie Painting Contractor Magazine do not necessarily represent those of the editor, staff or publisher or any Aussie Painters Network’s staff or related parties. The publisher, Aussie Painters Network and Aussie Painting Contractor Magazine personnel are not liable for any mistake, misprint or omission. Information contained in the Aussie Painting Contractor Magazine is intended to inform and illustrate and should not be taken as financial, legal or accounting advice. You should seek professional advice before making business related decisions. We are not liable for any losses you August incur directly or indirectly as a result of reading Aussie Painting Contractor Magazine. Reproduction of any material or contents of the magazine without written permission from the publisher is strictly prohibited.
The beginning of the financial year is a good time to take stock of how your business performed in the previous year. It’s also a good time to update your business and financial plans for the year ahead. When you build a house, you need building plans. When you build a business, you need a business plan.
Looking at your business’ financial performance over the last twelve months is a good starting point to raise the bar or tweak your profitability strategies, such as profit margins and tax savings. That includes reviewing and updating your budget and expenditure plan as well as your tax plan for the year.
If you don’t know how healthy your business currently is, you can download the Business Profits Health Check from our Tradies Advantage website to help you understand your position.
To review and update your business plan, you’ll want to cover the following items:
1. Business Profile – includes a specific description of the business you’re in, your mission statement, legal structure, SWOT analysis and business objectives.
2. Product/Service and Market Analysis – this should include description of your product/service including its position in the market, any major
trends affecting the industry in the past and future, your target market(s) and expected growth rates over the next 2-3 years, and your ideal customer profile.
3. Competitive Analysis – this is where you determine your business’ competitive advantage, but also where it lacks competitive advantage.
4. Marketing Plan – here you’ll set out your objectives, develop a sales forecast, as well as determine pricing and promotional strategies.
5. Operational Plan – set out your objective, review plant and equipment requirements (including maintenance and replacements), how you implement quality control measures, and what staff and training requirements you’ll have.
6. Financial Plan – set out your overall objectives, identify the cost for establishment or expansion of your business, create a Profit Budget Schedule and Cash Flow Projection.
The last item of the business plan neatly dovetails with the regular QBCC reporting requirements which you’ll need to keep up-to-date to stay in business. However, it doesn’t exist in isolation and the context is clearly outlined in items 1 to 5 above.
Further, if you wanted to apply for a business loan, the above items are a must to get your head around to be able to produce supporting documents for your loan application.
You need to have your business and financial plan information at hand to be able to satisfy the Minimum Financial Requirements(MFRs) of the QBCC. In particular, you’ll need to be able to calculate your Net Tangible Assets (NTA).
The QBCC limits the maximum revenue (MR) a licensee can earn for the forthcoming year based on the value of their NTA (their working capital).
The dates for lodgement of annual reporting to the QBCC each year are:
For SC1 and SC2:
• lodge from—1 November
• due by—31 March
For Categories 1-7:
• lodge from—1 August
• due by—31 December.
You will receive written notice from the QBCC of your annual reporting day confirming the due date.
Depending on your business turnover, you’ll need to submit different levels of financial information to the QBCC. As a Category 1 to 3 licensee, you’ll definitely need your financial systems in good order to satisfy the Minimum Financial Requirements.
Here are a couple of points to remember when submitting your Self-certification documents:
1. The reporting requirements for financial category SC1 and SC2 licensees are different to Category 1 to 7 licensees.
2. SC 1 licensees are required to have Net Tangible Assets (NTA) to the value of $12,000, and for SC2 licensees it is $46,000.
3. The information doesn’t need to be prepared by an accountant; although if you already use an accountant, it will be easier to submit the latest information provided by them for your end of financial year tax reporting.
4. The quickest and easiest way to submit annual financial reporting is online via the myQBCC portal.
5. A deed of assurance is not available to sole traders to meet their NTA requirements. For more detailed information visit the QBCC website.
Interested to find out more about how to update your Business Plan or set up your accounting system to help you meet your QBCC requirements? Then call my office on (07) 3399 8844, or just visit our website at www.straighttalkat.com.au and complete your details on our Home page to request an appointment.
There are important dates coming up that are critical for tradies and builders holding a QBCC licence. Selfcertification categories (SC) 1 and 2 and Category 1 to 7 licensees must provide the Queensland Building and Construction Commission (QBCC) with financial information by the following dates.
You need to lodge your financial information by the required reporting day.
Copyright © 2019 Robert Bauman.The Queensland Government via it’s Workforce Connect Fund has released grants of up to $5,000 for small businesses to invest in innovative HR solutions, support and advice.
Eligible businesses for this grant program have fewer than 20 employees and an annual turnover of less than $10 million. They must also demonstrate that they are QLD based and at least 50 per cent of the business’s income is generated directly from the business (not govt funding for example).
A business must have also engaged with an Industry Workforce Advisor and developed a Workforce Plan that identifies immediate HR solutions to support its workforce
• Engage with HR specialists to receive advice and coaching to improve workforce issues.
• Specialised recruitment strategies or practices to attract and retain staff.
• New workforce systems or tools that promote HR support and improve business operations.
• Other new and innovative approaches to support attraction, retention, or participation.
Eligible businesses can send a copy of the completed Workforce Plan, as well as contact details of their Industry Workforce Advisor to wcf@desbt.qld.gov.au to request an application form.
If you require any assistance in identifying HR solutions to support your business, please give us a call. We can assist with developing an initial plan to take to your advisor, including services we can provide to address your immediate and future requirements. We can then assist with providing quotes in the application part of the process.
For more information, visit the Department of Employment, Small Business and Training website via the following link: https://desbt.qld.gov.au/employment/workforce-connect-fund.
Mary Cairns HR Maximised
Most of us live in about 8% of our body most of the time — the head. Even though we have a lot of body beneath the head, we forget about that most of the day.
We’re on our screens, doing work, consuming content, messaging. We’re distracted, worried, ruminating. We’re overthinking, building up a case against someone, or watching video after video.
There’s nothing wrong with this, it’s a very human thing. But what would it be like to live more fully in our bodies? We might call this, “Embodied Living.”
To live embodied means to:
• Notice when we’re caught up in our heads, and bring a mindful pause.
• Feel and appreciate the breath.
• Move the body, stretch it, appreciate it.
• Be more present in the moment, feeling the experience of the moment.
• Notice our surroundings more often, and be curious about them.
• Feel more alive, rather than stuck in thoughts.
• Act from the heart, instead of overthinking, and to trust those actions.
Things that help with being more embodied include meditation, yoga, breathwork, movement, awe walks, coaching, martial arts, and more.
But it can be hard to move from being in our heads most of the time … to being more embodied throughout the day. Let’s talk about how to do that.
It’s always a good idea to start small. Let’s start with the Embodied Pause:
• Multiple times throughout the day … pause.
• Take in some breaths. Notice how the breath feels. Let yourself savor each in-breath, and let tension out with each out-breath.
• Stretch. Stretch your neck (gently), your shoulders, your jaw. Maybe the rest of your body too if you like. Let yourself release tension in these areas, and remember that you have a body.
• Ask yourself what you need. Do you need to move around? Take a break? Drink some water? Have some tea? Talk to a friend? This is a way of honoring your body’s needs.
It’s fairly simple and doesn’t have to take long. Notice if you’re resisting this — it’s common to want to skip past this because it feels too basic, or it interrupts whatever you were doing on a screen.
Practice this for a week. I promise it will have you feeling more embodied. It’s a great start!
Once you’ve practiced that pause for a week, you can choose one embodied practice at a time and add it in as an Embodied Pause. The more you practice, the more you’ll have the facility for this.
There are an infinite number of ways to practice, but here are some that I love:
• Breathe: Let yourself focus on your breath for a minute or two. Just sit and pay attention to the breath as it comes in and goes out. Savor the breath. Let yourself feel a connection through the breath to the outside world, to all living beings.
• Hydrate: Check to see if you’re thirsty. Take a break to get a drink, and savor the water. Like the breath, it connects you to the outside world — the world becomes a part of you. Feel the wonder of that.
• Eat: when you eat, let yourself actually pay attention to the experience of eating the food, instead of being distracted. Feel it nourishing you. Bonus: start asking what foods would nourish your body with nutrients.
• Act: Pause for a moment, and check in to see what action you are feeling called to take next.
• Squat: Get out of your chair, and simply squat down on the ground. This is how we humans rest, when we grow up in a natural environment — we simply squat on our haunches and hang out. But sitting in a chair for hours makes us inflexible, so squatting can feel uncomfortable to many people. So you can simply squat for 30 seconds or a minute (or longer if you like), and use it to focus on having a body.
• Stretch: Pick a stretch or two (look them up on Youtube if needed) and let yourself really enjoy the stretch. It relieves tension, has your body functioning better, and lets you remember you have a body that loves to be cared for.
• Hang: If you have a pullup bar, or something sturdy you can hang from, just grab onto the bar and let yourself hang for a few moments. Maybe 30 seconds. It’s a good way to strengthen your grip and shoulders, and helps other upper body exercises like the pullup.
• Dance: How often do you let yourself free to dance and enjoy movement to music? For many people, it’s very rarely. It’s a liberating thing, dance, and fun too!
• Meditate: Just about anywhere you are, you can pause for a minute or three and just sit still. Close your eyes if you like. Feel your breath and your body. Just experience stillness and the experi-
ence of being alive. Bring curiosity to what it feels like to have a body.
• Yoga: Find a few poses that you like, and drop onto the floor when you get a chance to practice. Yoga combines delicious stretching with meditation in a way that’s powerful for becoming embodied.
• Walk: Go for a walk, and feel your body moving through this world. It stimulates the mind, too, if you’re feeling stuck or dull.
• Wonder: As you walk, practice wonder. Can you find the feeling of awe at the world? What about awe for the body you have?
• Feel: Let yourself feel whatever emotions you’re feeling, but in the body instead of thinking about it. Feel it fully: fear, sadness, frustration, anger, heartbreak, grief, joy, love. Turn it up and let it be expressed in your body. The feeling won’t last forever, but this is a way of embodying emotions instead of stewing in the thoughts about them or repressing them.
I encourage you to find your own embodiment practices as well. But give these a shot!
I highly encourage you to pick one practice and focus on that for a few days, before adding another. You can learn multiple practices at once, but it’s hard to remember too many. If you choose one new one at a time, you’ll be able to set up reminders for it, give it your full attention, bring curiosity to practicing it.
Don’t worry about doing anything right. This is an exploration, a place of discovery, not having to do it right. If you forget to practice, or “do it wrong,” can you explore what that’s like? When you find yourself trying to do it right, can you free yourself to bring curiosity and play to the practice?
Reflecting on the practice helps. Journal about it, blog about it, talk to someone and share what you’re learning. This doubles the learning — you do the practice, then you reflect.
Let it be play. Let it be fun! Let it be a joyful exploration of being alive.
Leo Babauta ZEN HABITS
Studies using traditional statistical methods have long indicated a link between unemployment and suicide. But until now it has been unclear if this relationship is causal. That is, even though the suicide rate is higher among the unemployed, can we definitely say unemployment directly leads to suicide?
We now can. Using advanced analytic techniques borrowed from ecology we have found clear evidence of a causal relationship.
Based on Australian Bureau of Statistics data on underutilised labour and suicide rates, we estimate that unemployment and underemployment in the 13 years from 2004 to 2016 directly resulted in more than 3,000 Australians dying by suicide – an average of 230 a year.
These findings have profound political, economic, social and legal implications, particularly in light of government and central bank policies that “require” unemployment.
To test for causal effects of unemployment and underemployment on suicide, we applied a technique known as convergent cross mapping.
This method has been developed over the past decade to detect causality in complex ecosystems. Among other things, it has been used to study and show causal relationships between cosmic rays and global temperature, and humidity and influenza outbreaks. The period of our study (2004 to 2016) was bound by the quality of available data.
A clear relationship between unemployment and suicide challenges governments and institutions to take greater responsibility for the impact of policies and actions. It challenges the ethics of ideas that require some level of unemployment for economic efficiency.
Reserve Bank of Australia deputy governor Michele Bullock. Darren England/AAP
For example, last month the Reserve Bank of Australia’s deputy governor, Michele Bullock, said the unemployment rate would have to rise to curb inflation. The central bank expects the unemployment rate to rise to 4.5% by the end of 2024. The current rate is 3.6%, with a further 6.3% of workers underemployed.
Reserve Bank of Australia deputy governor Michele Bullock addresses the Economic Society of Australia in Brisbane, July 19 2023.
As Bullock noted, “full employment” to most people means that anyone who wants a job can find one. But most economists believe there is a need for a certain level of unemployment to prevent inflation.
This level is known as the Non-Accelerating Inflation
Rate of Unemployment (NAIRU). It’s a theoretical concept, so there’s no way to be sure what the level should be, but before the pandemic the consensus was that it was about 5%.
Read more: With unemployment steady at 3.5%, inflation fears shouldn't stop Australia embracing a full employment target
Impetus for far-reaching reform
These findings of the human cost of joblessness bolsters the case for policies to achieve full employment as well as reduce the negative consequences of unemployment, through providing a liveable income and strengthening mental health systems.
Why should the unemployed face deprivation, stigmatisation and despair when unemployment is a consequence of deliberate policy decisions?
We hope our findings will spur discussions about expanding unemployment benefits and labour market reforms to achieve greater job security. We also hope to provoke a deeper conversation about the design of the economy and how it values people, beyond simply making money.
Building on the ideas of University of Queensland economist John Quiggin, the Mental Wealth initiative is proposing a social participation wage. Set at the rate of a liveable wage, it would recognise the social value of unpaid volunteer work, civic participation,
environmental restoration, artistic and creative activity, and activities that strengthen the social fabric of nations.
Read more: Meet the Liveable Income Guarantee: a budgetready proposal that would prevent unemployment benefits falling off a cliff
Legally there are implications concerning duty of care and the obligation of governments and institutions to safeguard the wellbeing of the population. These findings should contribute to discussions about legal frameworks relating to employment, work health and safety, discrimination and human rights.
A direct causal relationship between unemployment and suicide demands a re-evaluation of policies, a prioritisation of full employment, adequate social safety nets to prevent poverty, mental-health system reform, and greater urgency in shifting to a wellbeing economy.
If this article has raised issues for you, or if you’re concerned about someone you know, you can call these support services, 24 hours, 7 days:
Lifeline: 13 11 14
Suicide Call Back Service: 1300 659 467
Kids Helpline: 1800 551 800 (for people aged 5 to 25)
MensLine Australia: 1300 789 978
StandBy - Support After Suicide: 1300 727 24
Jo-An OcchipintiAssoc. Professor and Head of Systems Modelling, Simulation & Data Science, Brain and Mind Centre, University of Sydney
Adam Skinner
Research Fellow, University of Sydney
Ian Hickie
Co-Director, Health and Policy, University of Sydney
Yun Ju Christine Song
Research Manager, Youth Mental Health & Technology and Mental Wealth Initiative Lead, University of Sydney
How often do you see this in Facebook groups where someone just makes a blanket statement that they spent money with Facebook, and well, it either didn’t work at all, or the leads that came through were garbage?
So where does it go wrong, and how can you succeed where others have failed? And be the person who quietly laughs as your calendar is stacked full of work all from Facebook. How do I know this works well so far, I've been responsible for over a million dollars in ad spend for different clients and myself, so let's dive into using direct response marketing to find people needing your services now.
First, we need to get them to stop scrolling, ever wonder how you lost so much time on Facebook. Well, we need to shake them to stop and look. From now on, when you're using facebook and scrolling, look at ads that make you stop. What made you stop? Then use something similar in your ads to test their effectiveness.
Now some people will use a graphic that is totally unrelated to what they do, think of that video where a baseball flies to the screen, and it feels like it going to hit you. Is this going to attract everyone… yes.. But
is that a great thing no. As the AI is going to find more of these people people who love watching a baseball fly at the screen.
So make sure the image relates to what you do, painting, house before/ afters, and team members in painting gear near the work van etc. And then use things like bold statements like “Brisbane Homeowners!” alternate colours, use angles on the background behind titles etc.
Let the Headline / First Paragraph draw them in next.
This is like fishing, we have them hooked but only slightly. Now we need to get them to read more. So that headline usually works well if we call them out, or we make a statement that they relate to. Like “Brisbane House Need Painting?” for the title, we have less room to play with the title so you need to get creative so it doesn’t cut off in the preview.
And in that first paragraph, we may reinforce it again. “Hey Brisbane Homeowners, does your house need painting?
Now for the text part where we want to persuade them.
We now try and get that hook a bit deeper in to stop the fish from getting away, this can be boring as to what exactly you write, luckily there are many copywriting frameworks to follow, and the most popular is the AIDA one, which is :
Attention: This is your initial hook, a sentence or two that's meant to stop people in their scrolling tracks. It could be something surprising or unique about your service. For instance, "Tired of dull, lifeless rooms? Bring your home back to life!"
Interest: Next, you need to keep your reader interested in what you have to say. Here, you could introduce the specifics of your service and what sets you apart. For instance, "Our expert painters use eco-friendly paints and can transform any room in just a day."
Desire: Now, you're going to make your reader desire your service. Describe the benefits and evoke their imagination. For example, "Imagine waking up in a room that feels fresh, vibrant and truly 'you'. A space that fills you with joy every morning."
Action: Lastly, this is your call to action. Tell them what to do next. This could be a simple, "Click here to book a free consultation!" or "Message us now for a 20% discount on your first room!"
What’s next?
You will notice I haven't talked about targeting, interests, or the pixel. But why? Because the magic of getting your ads to work is ….. The ad itself. Gone are the days of crappy ad content, and hoping the AI will magically find you customers. Those days are long gone. This is great as this gives you the edge to focus on writing and producing great ads.
So when you run these ads on Facebook, you will then target the areas you service, so drop a pin and then set the radius of how far you will drive from there. And the age range is probably 35+, and that’s it. Broad is the game in 2023, let the AI find the people and use your ads to “call” them out.
Pick a campaign that works for you, I find engagement with the objective of messages works well for most clients. As this lets us chat back and forward on Facebook while also requesting a phone number. You can also use the lead objectives, but I find it can increase
the number of leads, but not the quality, so chat works better as we can be human and follow up etc, for people who haven't provided a phone number yet. And now, if we have done a great job, they hit that send message button, and we have them hooked and reel them in to get their details which is mainly their phone number and get them on the phone for you to work your sales skills.
What are other mistakes?
The biggest one I see is letting the leads go cold, the quicker you are to engage with the lead, the higher your chances of securing the work and of higher value before they call your competitor.
Running just one ad. All this will tell you is do Facebook ads work, and well if your ad sucks, your going to say nope, they don’t. Have 3 or more ads running, and now you will see which ones work better and why. Sometimes even a headline change increase leads.
Complex campaigns, the more you make, the less Facebook will learn. One local campaign and one adset where you just focus on the ads is the goal. It just gets better and better, no need for it to learn all over each time.
Not spending enough or not increasing your spending because of beliefs Facebook is evil. Treat it like any other advertising source, Yes, I’m not the biggest fan of Mark Zuckerbergs world domination plans or Google's, but if it’s getting you work then consider how much you need and work out a budget to get it. You pay per impression, so spending more means more eye’s on your ads. That’s all your doing when you spend more on your ads in front of more people.
Giving many calls to action, like call now, message us, and oh visit our website also. People are lazy just tell them one thing you want them to do.
Mark Spray spraymedia.com.au
In the ever-evolving world of business, protecting your valuable intellectual property and ideas (your ‘IP’) is crucial to maintaining a competitive edge.
One essential tool to safeguard your IP is a Confidentiality Agreement or Non-Disclosure Agreement (commonly known as an NDA). This legal document creates a confidential relationship between parties to protect sensitive information. In this blog, we will discuss why businesses need to consider using a Confidentiality Agreement or NDA every time they share their IP, particularly when engaging with suppliers or manufacturers.
As a business, your IP is one of your most valuable assets. This includes patents, trademarks, copyrights, and trade secrets. When discussing your business plans with potential suppliers or manufacturers, it’s essential to protect these assets from being misappropriated or disclosed to competitors. A Confidentiality Agreement or NDA can help to ensure that any
information shared remains confidential, reducing the risk of unauthorised disclosure and IP theft.
2.
Your business’s innovative ideas, strategies, and processes are vital to maintaining a competitive edge in your industry. Sharing these valuable insights with suppliers or manufacturers without proper protection could leave your business vulnerable. A Confidentiality Agreement or NDA can help prevent the disclosure of your unique ideas to parties who could commercialise it to their own advantage, ensuring that your business maintains its competitive advantage.
A Confidentiality Agreement or NDA demonstrates a commitment to professionalism and trust between your business and potential partners. By signing an NDA, both parties agree to maintain confidentiality, fostering a secure environment for confidently sharing information and collaborating effectively. This level of trust is particularly important when working with suppliers or manufacturers, as these relationships are often vital to the success of your business. If they refuse to sign this initial document, then consider if you want to risk doing business with them at all?
A Confidentiality Agreement or NDA demonstrates a commitment to professionalism and trust between your business and potential partners. By signing an NDA, both parties agree to maintain confidentiality, fostering a secure environment for confidently sharing information and collaborating effectively. This level of trust is particularly important when working with suppliers or manufacturers, as these relationships are often vital to the success of your business. If they refuse to sign this initial document, then consider if you want to risk doing business with them at all?
In the unfortunate event that your sensitive information is leaked, having a Confidentiality Agreement or NDA in place can provide a basis for legal recourse. If a party breaches the terms of the agreement, you can pursue legal action to obtain damages or seek an injunction to prevent further unauthorised disclosures. This legal protection can offer peace of mind and demonstrate the seriousness of your commitment to confidentiality.
In many industries, business relationships can be just as crucial as the products or services offered. When working with suppliers or manufacturers, maintaining confidentiality is key to preserving these existing relationships. A Confidentiality Agreement or NDA can protect your business’s reputation and ensure that sensitive information (such as details of your strategic partners) is not disclosed to third parties, potentially harming your relationships with those partners.
In today’s competitive business landscape, it’s more important than ever to protect your intellectual property and innovative ideas. By using a Confidentiality Agreement or Non-Disclosure Agreement, you can safeguard your valuable assets, maintain a competitive edge, and foster strong business relationships with suppliers and manufacturers. Don’t let your hard work and creativity go unprotected – consider implementing a Confidentiality Agreement or NDA before sharing sensitive information with anyone outside your organisation.
Don’t let your hard work & creativity go unprotected – consider implementing a Confidential Agreement or NDA before sharing sensitive information with your partners.
The other day, I returned home from a short trip, and immediately unpacked and washed my clothes, putting everything away. It felt nice.
The next morning, I was feeling a bit unsettled. So I started cleaning. I cleaned in the kitchen, outside in the yard, swept the garage. I felt so good.
I’ve come to realize that cleaning, organizing, decluttering … for me, it’s a form of self-care. It helps me feel settled, makes me feel like I’m taking care of my life.
Yes, cleaning and organizing can be overwhelming, and is often avoided. But it doesn’t have to be. Take a small corner to tidy up, and let yourself just enjoy the cleaning. Get lost in it. Feel the niceness of making things nicer.
Yes, there’s always more to do. But that’s a disempowering way to think about it. Why does it matter that there will always be more to do? That just means there’s more self-care available, always. Just do a small portion right now, and enjoy it. A good analogy is that there will always be more tea to drink … but I only need to focus on this single cup of tea, and enjoy it fully.
As you clean, you might feel things getting cleaner. As you organize, you might feel the progression of settledness of things. As you declutter, you might feel the slight liberation with everything you toss out.
And of course, we can extend this self-care of cleaning and organization into every part of our lives — today I worked on organizing my finances. I’ve been fixing little things around the house. This morning I deleted a bunch of apps on my phone, and turned off a lot of notifications, to simplify my phone experience. I also unsubscribed from a bunch of newsletters and started clearing out my email inbox.
You can think of taking a task from your task list as a form of this self-care. One item at a time, taking care of your life.
It can be overwhelming and dreaded … or it can be nourishing and lovely. It’s a choice, and I choose to feel the care that I bring to every sweep of the broom.
The new ‘Managing the risk of psychosocial hazards at work Code of Practice’ came into effect on 1 April 2023 for all Queensland workplaces. The Code outlines the responsibilities of employers and employees as it relates to managing work related psychological health risks. Many organisations are still getting their heads around how to proactively manage psychosocial hazards. We take a look at what they are and some of the things you can do to help manage them.
A psychosocial hazard is anything that could cause psychological harm (e.g., harm someone’s mental health). They are factors in the design or manage-
ment of work that increase the risk of work-related stress and can lead to psychological or physical harm. Common psychosocial hazards include:
• Low job control & role clarity
• High and low job demands
• Poor change management
• Poor organisational justice
• Low recognition and reward
• Poor workplace relationships
• Poor environmental conditions
• Remote and isolated work
• Violent or traumatic events
• Work-related stress
There are a number of factors that make up a ‘safe’ place to work both physically and mentally. Businesses focused on employee well-being are committed to:
Workplace Health & Safety – Having up to date policies, procedures, training and development, and safeguards designed to manage risks to the health and safety of everyone in the workplace. These are communicated and reinforced on a regular basis and are very much part of the organisational culture.
Psychological Health & Safety – Psychological health means being committed to the psychological wellbeing of all staff and taking steps to prevent psychological harm. Psychological safety includes things like showing your team you’re engaged/you understand them; avoiding blaming to build trust; addressing negativity; including your team in decision making; being open to feedback and being a champion for your team.
Psychosocial Risk Mitigation – All risks in the workplace associated with the work, the people and the environment that impact the physical and psychological health of the team members.
There are lots of measures you can put in place to mitigate psychosocial risks and we’ve outlined a few below:
• Review your current risk management practices and understand your obligations.
• Be proactive – don’t wait for issues to arise. Have a plan in place to regularly connect-in with your employees. If you can’t do this personally, build processes within your business to improve psychological health and safety capability in a structured and deliberate way.
• Conversations are one of the best ways to mitigate psychosocial risk in the workplace. A quick
in check-in chat can nip many issues in the bud early. Regular conversations build trust and engagement.
• Put yourself in the shoes of your employee, take the time to listen and understand their perspective. Sometimes this is the best way to tackle a sensitive issue.
• Think about the way you start a conversation – use constructive language. Instead of saying “I’ve noticed there have been some issues”, try something less confrontational like “I’d really like to catch up with you for a chat; I’m sensing you might be a bit overworked at the moment”. Minimise the potential for escalation where you can, and get the facts on the table so you are not working off assumptions.
• Take action, don’t ignore a potential issue. Leaving a problem to fester often results in a bigger, more serious problem.
• Don’t do it on your own. We all feel out of our depth at times as managers. If you are unsure of how to tackle something, speak to peers, seek advice from trusted advisors or bring in the HR or legal experts.
Welcome to part 4 of the Importance of Training. This month I am covering two major high-risk topics. Lead Paint and Asbestos. In the last painting and decorating training package update it was recognised that both Lead Paint and Asbestos were such major concerns within the painting that they created a unit for each where previously they had a combined unit.
We should all be aware of the dangers and the high number of people that have or are suffered and died due to the exposure of both lead paint and asbestos.
When I first started in the trade, we weren’t aware of the dangers and the potential health problems that both lead and asbestos could cause. I can remember dry sanding both in the 90’s with no idea what I was doing and with little to no precautions being taken or even taught to be taken. For those old enough they will remember drinking milk to get rid of the taste and toughen us up against it.
I have had lead poisoning and have little to no doubt that I have been exposed to asbestos as a child and adult through renovations my family did and old houses I had exposure to in my early years in the trade.
Since the early 2000’s I have advocated for lead paint awareness and have been involved in assisting Government in awareness campaigns as well as being a major contributor to the Governments Lead Paint publications. Over the years I have seen 110’s if not 1000’s of houses being stripped with no precautions in any form and families being poisoned because contractors either not being properly informed on the dangers or lead and asbestos or painters just needing the work and taking absolutely no precautions and families getting poisoned.
Even in the last 12 months I have been contacted by apprentices asking what to do when their employers are doing the wrong thing. On a couple of separate occasions, I have been contacted when people are power washing asbestos roofs and grinding lead paint with no precautions.
As previously mentioned, these things KILL!!
The most important thing is education today, so that people don’t make the same uneducated mistakes that we did 30+ years ago. This is the reason there are now two specific units.
1. Work safely to encapsulate non-friable asbestos in the painting industry.
As with any unit, there is a Performance and Knowledge Evidence required. How we do this is through theory system, whether online or paper based. This is the workbooks etc of years gone by.
Then there is a practical component ensuring that if the apprentice ever comes across asbestos they are aware how to work with it. How think coatings need to be applied etc. This is done in simulation training.
2. Work safely with lead-painted surfaces in the painting industry
As previously mentioned, Performance and Knowledge Evidence is required.
For the practical components, we simulate through overcoating, chemical stripping, non-chemical stripping methods. There are specific area requirements that need to be done for each process.
Here are the links to each of the two units discussed that the people being trained must do. This is also the requirements of the RTO to follow when conducting training and assessment.
Lead Paint CLICK HERE
If your apprentice or staff aren’t being training and doing the practical tasks, contact me for assistance on what you can do.
Good luck and stay safe.
Nigel Gorman nigel@aussiepaintersnetwork.com.au 07 3555 8010
If you’re starting a new business, or simply reviewing your existing needs, knowing what types of insurance you need is vital.
Running a business – small or large – involves multiple risks, and therefore multiple forms of insurance may be needed.
In this guide, we’ll take at which types of insurance are compulsory for a business, which ones are considered vital, and some which you should at least be aware of.
If you’re also professional advice rather than reading our guide, please call our office on 1800 808 800 to speak with one of our experienced business insurance brokers.
We’ll go much deeper in this guide, but to get started, here’s a quick guide on the types of insurance which may be needed for your business.
Types of insurance a business may need:
• Public Liability Insurance – Depending on your licensing requirements and state
• Public Liability + Glass Insurance – If you’re signing a lease
• Personal Accident Insurance – Required under some contracts
• Professional Indemnity Insurance – Depending on your occupation
• Plant & Equipment Insurance – If you have finance on your gear
• Workers Compensation Insurance – If you employ staff
Those are the types of business insurance that can be considered mandatory, but there are many other types of insurance that you should certainly consider.
In terms of their need, many types of business insurance can be viewed in a similar way to comprehensive car insurance.
Whilst comprehensive car insurance is not required by law, most of us know that it would be crazy to drive around without it.
Many forms of business insurance are the same. They might not be mandatory, but operating a business without them is not a good idea…
The answer to this question will depend on the type of business you are running, and in some cases, which state your business is operating in.
It can also depend on the types of contracts you are entering. You might find there is no legal requirement for a certain type of insurance, but the contract you are signing requires it.
We’ll break this section down into the different types of insurance.
When it comes to compulsory forms of insurance, and especially with public liability insurance, often this is driven by your licensing requirements.
For example, if you’re an electrician in Queensland, you’ll need to have public liability insurance along with consumer protection insurance.
Without these two, you won’t be able to obtain or renew your electrical contractor’s licence.
Many other Australian states have similar public liability insurance requirements for electricians, along with plumbers and certain other trades.
Most contracts in the construction industry will also include a requirement for public liability insurance.
If you’re subcontracting to someone else, you’ll most likely find that the contract will require public liability cover, and you’ll be required to provide evidence of your insurance.
For those businesses who are operating from leased premises, such as a workshop, warehouse or office, your lease will almost always have a requirement for public liability insurance, along with glass cover.
When it comes to the main types of insurance that a business needs, public liability will generally be at the top of the list.
Public liability insurance will cover your business in the event that you cause property damage or personal injury to a third party.
Some professions will have a requirement to hold professional indemnity insurance. Whilst this generally isn’t relevant to the trades we deal with, it is for professions such as accountants and financial planners.
Other occupations more closely related to the trades might not have mandatory requirements for professional indemnity, but that doesn’t need you don’t need it.
If you’re offering any sort of testing or inspection service, or providing written reports that clients are specifically paying you for, you should have professional indemnity insurance.
Whilst there is no legal requirement for any business owner to hold personal accident insurance, it is a common requirement within contracts.
Many contracts within the construction industry will require that all subcontractors and self-employed workers have their own personal accident insurance.
Even if your contracts don’t require it, as a self-employed tradie it’s so important to insure your income.
If you’re unable to work for a period of time due to injury or illness, you won’t be earning any money and you won’t have access to sick leave.
Personal accident insurance is an absolute must for any self-employed business owner.
Plant and equipment insurance isn’t mandatory for any licensing reasons, but it may be mandatory if you have finance owing on the item.
If you’ve used asset finance to purchase any of your equipment (typically the big-ticket items) the finance company will require that the item is comprehensively insured.
When purchasing a piece of plant or machinery using secured finance, typically the finance company will require proof of the insurance before they settle the loan and release the equipment to you.
The insurance will need to specifically mention the finance company as an interested party.
This is the same if you are purchasing a house or a car using finance, and the lender will want to protect their investment by ensuring that the asset is properly insured.
Although we don’t generally deal with workers compensation insurance, this is another form of insurance that a business will need.
The rules vary slightly between the states, but generally this form of business insurance will be needed if you employ staff, and in some states, even if you don’t employ staff but are a working director yourself.
Other types of insurance a business will need
We’ve covered off the most commonly needed types of business insurance above, but your insurance package certainly shouldn’t stop there.
If we’re talking tradies, then tool insurance needs to be near the top of your list.
These are the five main ones, depending on the factors we outlined above:
• Public Liability Insurance
• Personal Accident Insurance
• Professional Indemnity Insurance
• Plant & Equipment Insurance
• Workers Compensation Insurance
With any of these business insurance types you could take the ‘DIY’ approach and set them up yourself.
We strongly recommend speaking with an insurance broker who understands your industry and can help to ensure you are getting the right types of insurance that your business needs.
Just because you know you need public liability insurance, doesn’t mean you know which options you might need, or which insurers are better suited to your business.
At Trade Risk we’ve been helping business owners for over a decade. We understand the trades, we understand the construction industry, and we certainly understand insurance!
As a business owner, if you don’t have your tools to work you most likely won’t be able to earn a living.
By having tool insurance in place, you’ll be able to replace your gear relatively quickly and get back to work.
Car insurance is an obvious one if you’re using a vehicle in your business, which is pretty much every trade business!
It’s important that your car insurance specifically notes that your vehicle is being used for business purposes. If you’ve insured it as a private vehicle and you have an accident whilst working, you might have difficulty making a claim.
As your business grows you may find that it needs multiple other forms of business insurance.
By this stage you should have a great insurance broker who’ll be able to review your cover each year to ensure you have the insurance that your business needs.
Recap – What insurance does your business need?
In this guide we’ve covered off the main types of insurance that a business will need, or at least may need depending on your circumstances.
As insurance brokers we’re here to help in whatever way you prefer.
If you think you know what you need and just want some quotes, we can help you.
If you have no idea what you need, and you’d like one of our experienced brokers to run through everything with you, we can help with that too.
To take the next step in properly insuring your trades business, call us on 1800 808 800 or complete our online quote request.
We can help with all of the types of business insurance you need, as well as those which just make good business sense to have.
Most small business people would agree that their Profit and Loss account (now more correctly called a Statement of Financial Performance) is among the easier – if not the easiest – financial document to understand. It’s typically presented in two parts.
The top half of the statement reveals various sources of income the business has received for the period covered, such as a quarter, half year or full financial year. After subtracting the cost of producing your goods or services, it shows your gross profit figure.
So far, so simple, but you can learn more.
These two results enable you to work out two key performance indicators (KPIs) that offer important insights into how your business is performing.
The first, your gross profit margin, is the gross profit expressed as a percentage of sales.
To work this out (if your accounting software doesn’t do this automatically), you divide the gross profit figure by the sales total and multiply by 100 to get the percentage.
Here’s an example:
Gross profit: $80,000
Sales: $400,000
GP %: 80,000 divided by 400,000 = 0.2 x 100 = 20%
The bottom half of the account lists all the relatively fixed running costs (business overheads) such as rent, power and communication costs you need to pay each month regardless of sales levels. When these costs are subtracted from the gross profit the result is a net profit figure (before tax).
Multiplying by 100 allows you to study the gross profit margin as a percentage, so you can easily compare this result with previous margins, irrespective of fluctuating costs or sales levels. Has the margin improved? If not, it’s time to investigate the causes. For instance, has there been an increase in the cost of materials or production labour?
You can now compare your gross margin to similar businesses, because turning the result into a percentage overcomes any differences in size. Regardless of whether they are smaller or much larger businesses, it’s the gross profit percentage (GP %) that tells the performance story.
Depending on which sector you operate in, we can help find the average GP percentage for your industry. Your aim should then be to at least equal the industry average, and preferably do even better. You can also aim to improve on your previous gross margin results.
The net profit margin reveals how profitable your business is when your overhead costs are deducted from the gross profit. It’s worked out using a similar formula. For example:
Net profit: $50,000
Sales: 300,000
NP %: 50,000 divided by 300,000 = 0.166 x 100 = 17%
This KPI empowers you to spot trends before they become disasters. If your net profit margin has fallen, you need to dig for the causes. For example, you may find your marketing costs have blown out with no increase in sales. The lesson here would be to measure your marketing and advertising to see what is actually working, so you can drop any unproductive tactics.
• Use your gross profit and net profit margins as benchmarks to set improvement goals. Try to improve both on internal benchmarks (your current performance against previous results) and external benchmarks (the average for your industry type).
• Don’t rely on just an annual profit and loss account. You can’t effectively drive your business forward using a rear view mirror that reflects dated data – you need more up-to-date figures. Use your accounting software to generate more frequent profit and loss accounts, such as monthly or quarterly statements. These enable you to take prompt action to fix any negative trends before they do serious damage to the business.
• Remember to you can always get in touch with us to interpret trends in your results so you can take the right corrective action.
Book a strategy session HERE to see how we can improve your bottom line.
A few weeks ago I listened to a radio talk-back show where the host asked the caller what she did for a living. Her reply was, ‘I’m just a secretary’. This took me back 54 years when I began my painting career. For the first 18 years when someone asked me what I did for a living my reply was, ‘I’m just a painter’.
So why do people answer in a way that degrades themselves in what they do?
In my case I lacked pride and self-esteem in myself and what I did for a living and sadly, it took me many years to break out of that way of thinking. Now, when I hear someone say, ‘I’m just a………..’, I tell them the following.
‘No matter what employment you are engaged in, even if it’s menial, repetitious, and not ‘rocket science’ type of stuff, working is vital for your physical and mental health. Besides the obvious fact that most of us need to work to make a living, having a job promotes independence, personal achievement and boosts your confidence by giving you purpose and self-worth. Employment also makes you responsible in the task you do. By making decisions every day you are contributing and adding value to your workplace. You will learn new skills and may even gain more experience with on-the-job training, which then could pave the way for other work opportunities and promotion.
Humans are also natural social beings. By going to work it gives you the opportunity to make new friends and meet people you may otherwise come across outside of work. Also, working with others can improve your confidence and social skills, and by having these people at your side will make the daily workload more enjoyable. When you look at it overall, your job helps shape you into the person you are.’
So next time someone asks you your occupation, stand tall, be proud, be positive and say, ‘I Am A ………..’
Jim Baker www.mytools4business.com
Ten years ago, the Australian Taxation Office (ATO) created the “myTax” portal, an easy way to lodge your tax return online.
There was an “e-Tax” filing option before the 2015-16 tax year, but this was quite complicated and barely better than filling out a form online.
In comparison, myTax is simpler and more automated. It’s available 24 hours a day, is free to use, and you will typically get your refund within two weeks.
But the chances are you won’t be using it.
In fact, slightly less than 36% of Australia’s 15 million taxpayers used the myTax portal in 2020-21 – the most recent tax year for which the tax office has published data.
About 64% of tax returns were lodged through tax agents. This is one of the highest rates among 38 Organisation for Economic Co-operation and Development nations. Meanwhile, just 0.6% of Australians still used the paper-based form.
So why have Australians – who have quickly embraced the internet for everything from shopping to dating –been so slow to embrace myTax?
For some, particularly older people, it’s about being intimidated by the technology. Others may be concerned with cybersecurity risk.
But for most it’s about the perceived complexity of the tax system and the process, regardless of the technology. They see using a tax agent as easier and the way to maximise their tax refund.
While in some cases this may be true, in many instances it’s simply a perception – but one the tax office will need to address if it wants to promote use of myTax.
Read more: A tax expert's tips on claiming crypto losses on tax, and how to work out capital gains
Our research suggests most people who have used the myTax portal think it is easy to use.
We surveyed 193 taxpayers who have used the system. About three-quarters agreed the system was clear and understandable, and said they would keep using it.
But of course these are people who have chosen to use the system, so their responses don’t shed much light on the reasons people don’t use myTax.
Answers to that come from other published research, in particular from the Inspector-General of Taxation (the independent office investigating complaints
about the tax system) as well as the House of Representatives’ Standing Committee on Tax and Revenue.
Evidence submitted to these bodies indicate that Australians prefer tax agents to avoid errors in claiming deductions.
The parliamentary committee’s 2018 inquiry into the tax system was told the use of tax agents ballooned from about 20% in the 1980s, peaking at about 74% of all taxpayers:
The Tax Commissioner considered that the size of the TaxPack had probably contributed to that rise, driving many people with simple tax affairs to a tax agent because it looked daunting.
In short, habits are hard to break. Having come to rely on tax agents, most Australians keep using them, despite the system being vastly improved.
For example, the myTax system now simplifies the process by pre-filling data from government agencies, health funds, financial institutions and your own employer. About 80% of our survey respondents said this was helpful.
Taking care of the digital divide
This suggests the main barrier to increasing use of the myTax system is mostly habit and the perception the tax system is too complicated to navigate without an expert.
There is also a small percentage of people who feel uncomfortable with computers. This is reflected in the minority of respondents in our study who said they were unlikely to use myTax again, as well as the tax office’s data showing some people continue to stick with paper lodgement.
Those more likely to find the system daunting are the elderly, those with low English skills, people with disabilities and those with low educational attainment.
These people’s needs should not be forgotten as the Australian Digital Government Strategy aims to making Australia a “world-leading” digital government by 2025, delivering “simple, secure and connected public services”.
Even with the greatest online system in the world, it’s unlikely there will ever be a complete transition.
Jawad Harb PhD Candidate, RMIT University Elizabeth Morton Research Fellow of the RMIT Blockchain Innovation Hub, Lecturer Taxation, RMIT University
