Family Aged Care Advocates (FACA), a specialised independent business guiding families through the complex and often overwhelming aged care process, has found a valuable partnership with Collins Hume to ensure the business remains both operationally sound and scalable.  Founded by Shane Hayes, FACA was built on the premise that navigating aged care shouldn’t be confusing or stressful. Shane’s previous background in financial planning combined with his aged care focus since 2018 allowed him to create a range of services that specialises in helping families manage the challenges of caring for elderly loved ones.  The Challenges  As a startup in a niche market, FACA faced the typical struggles of new businesses: maintaining operational efficiency while growing its client base. Shane highlighted how critical it is for small businesses to have a solid structure beneath them.   He explained, “Anything needs a good structure underneath it to develop further, and I think that’s what Collins Hume has really enabled FACA to do — to bed in a good structure, a good understanding of the accounting and financial side of it, which is critical for any business.”  The Solution  Collins Hume, a trusted partner of FACA, provided essential business support through their Business Advisory Program, led by Nathan McGrath, Collins Hume’s Senior Business Adviser. Shane expressed how beneficial the program was, noting, “Having a team with specialised knowledge and regular meetings has been profoundly beneficial from his perspective.”  The structured monthly meetings with Collins Hume allowed FACA to focus on often-overlooked aspects of business growth, ensuring that the financial and operational aspects didn’t get lost in the day-to-day running of the business.   Shane emphasised, “I’d get feedback about things that we’d tried, what worked, what didn’t and what we could tweak a little differently. It’s been a great experience.”  Results and Outcomes  The partnership has led to several significant outcomes for FACA:  Operational Confidence: Shane underscored the peace of mind that came with Collins Hume’s support, “It’s peace of mind knowing that the other stuff is right so I can focus on what we do.”  Business Scalability: With Collins Hume’s guidance, FACA was able to grow with confidence, securing its financial stability and expanding its services. “Collins Hume has enabled us to bed in a good structure, and that’s critical for any business, especially a small one where you don’t necessarily have all the experts on hand,” Shane said.  Responsive Support: FACA appreciated the hands-on, responsive nature of Collins Hume’s support.   For FACA, Collins Hume’s expertise went beyond financial support  Collins Hume provided a pathway for sustainable business growth. Shane now has the tools and confidence to manage his operations effectively, allowing him to focus on what he does best: helping families navigate the aged care maze.   Shane wholeheartedly recommends Collins Hume for any startup looking to solidify their foundation: “It’s a really powerful experience from just being confident that you are, in fact, setting up those back-of-house things to enable you to do the service delivery.”  By partnering with Collins Hume, FACA has built a robust foundation that supports its mission to guide families through one of life’s most challenging journeys — aged care. Read more on the website at https://www.familyagedcareadvocates.com.au/ .  Elevate your business to new heights. Contact Nathan McGrath  on 02 6686 3000 for an obligation-free discussion on how Collins Hume can help you achieve a better performing business, better lifestyle and a true sense of purpose.

The cost of living has eased over the past year but consumers are still under pressure. For business, planning is the key to managing Christmas volatility.  The countdown to Christmas is on and we’re in the midst of a headlong rush to maximise any remaining opportunities before the Christmas lull. Busy period or not, Christmas causes a period of dislocation and volatility for most businesses. The result is that it is not ‘business as usual’ and for many, volatility can create problems.   Added to this dislocation are cost of living pressures impacting consumers. Employee households are the hardest hit experiencing mortgage cost fuelled increases – spiked by the rollover of fixed rate loans to higher variable rate loans. While there has been some relief from energy subsidies and a reduction in fuel prices, underlying inflation remains persistently above the RBA’s target rate. Services inflation - the cost of your rent, insurance, your hairdresser, etc – is sitting at around 5%. With the Reserve Bank of Australia (RBA) Board keeping rates on hold for now and hinting that it will be some time yet before they are comfortable reducing rates, consumers want a reason to spend based on value for money. The irony is that if we all spend up big, which a recent Roy Morgan poll  suggests we are, there is a risk this elevated spending will further delay rate cuts. But, while we might spend more, some of this increase is simply to compensate for inflation - we need to spend more to buy at the same level as previous years.  The discounting trend  Consumers expect a bargain and can generally find one. If you choose to discount stock (or the market forces you to), it’s essential to know your profit margins to determine what you can afford to give away. A business with a 20% gross profit margin that offers a 15% discount, needs a 300% increase in sales volume simply to maintain the same position. Worst case scenario is that a business trades below its breakeven point and generates losses.   Increased sales from discounting can be great if you know your numbers, have excess or older stock that needs to be moved, generates demand, or drives new customers to you.  Also think about how you create value; it does not always have to be a direct discount on a product. Packaging might be a better option than a straight discount where you can increase sales of multiple items, even better if you can combine higher demand with lower demand stock. Quantity discounts, value added are also options.  The Christmas cost hangover  Costs tend to go up over Christmas. More staff, lower efficiency, downtime from non-trading days, increased promotional costs, all mean that the cost of doing business increases. It’s great to get into the Christmas spirit as long as you don’t end up with a New Year hangover. Cost control is important.  Many businesses also bring in casual staff. It’s essential that you pay staff at the correct rates and meet your Superannuation Guarantee obligations. Check the  pay calculator  to make sure you have it right.  New Year cash flow crunch  The New Year often leads into a quieter trading and tighter cash flow period. The March quarter is often the toughest cashflow quarter of the year. You will need a cash buffer. Don’t over commit yourself in the run up to the end of the year and start the new Year with a problem.  Take a lesson from Scrooge  If you work with account customers, start your debtor follow up early. If your customers are under cash flow pressure, the Christmas period will only exacerbate it. The creditors that chase debt hard and early will get paid first. Don’t be the last supplier on the list; the bucket might be empty by then.  Trading stock headaches  If business activity spikes over the Christmas period and you sell goods, then there is a temptation to increase stock levels. That makes sense as long as you don’t go too far. Too much stock post the Christmas period and you will either be carrying product that is out of season, or you will have too much cash tied up in trading stock. Try to work with suppliers that can supply on short notice.   Managing your trading stock is not just about managing cost. If your customers are in your store but can’t find what they need, have an online option available in store to take the sale. Christmas is a great time of year. Just don’t get caught up in the rush and remember your business basics. Call Collins Hume in Ballina on 02 6686 3000 for any help you might need in your business before Christmas to see you through the festive season.

Helpful and holistic support for business owners  As a business owner, you know that staying on top of your finances is essential, but what if you had a partner who could do more than just look at the past? At Collins Hume, we’re here to guide your business into the future, offering tailored advisory services that go beyond traditional accounting.  In the current challenging environment, business owners need more than just an annual set of accounts or a tax return. They need an ongoing partner who understands the intricacies of their business and can provide real-time insights and strategic advice. That's where our Strategy360 services come in, providing hands on practical guidance, not just reports.  Guiding Your Business Future — What Does That Look Like?  1. Tailored Business Performance Solutions: we simplify the complexities of your business. By collaborating closely with you, we focus on achieving meaningful outcomes that align with your unique objectives. Our customised solutions aim to enhance your business performance, boost profits and improve cash flow, ensuring long-term sustainability and growth.  2. Enhancing Business Value: Our approach is centred on increasing the value of your business. Through our expertise and strategic resources, we help you optimise ongoing earnings, drive business growth and ensure that your business valuation increases, providing you with a more secure financial future.  3. Reducing Risks and Improving Stability: We leverage robust technology and diverse industry experience to reduce the risks and uncertainties that many businesses face. By strengthening your business’s resilience, we help you navigate through market volatility and ensure ongoing success.  4. Supporting Your Lifestyle and Legacy: Our approach focuses on more than just numbers . We aim to improve the lifestyle outcomes you gain from owning a business and help you build a lasting legacy. By providing dedicated, ongoing support, we give you peace of mind, so you can rest easy knowing your business is in good hands.  Why use a Business Adviser?  Working with Collins Hume offers numerous benefits. We tailor our solutions to your precise needs, designed to improve business performance, minimise risks, boost business value, advance strategic initiatives, and execute plans effectively.   Our approach ensures that your business receives targeted support and guidance, ultimately leading to enhanced success and growth.  We understand that many business owners are great at what they do, but may not necessarily have the financial expertise or confidence to manage certain aspects on their own, and that’s where we step in to provide the ongoing support you need. Our goal is to help your business thrive, not just survive, by providing the tools and insights that make a difference all year long.  Elevate your business to new heights. Contact Nathan McGrath  on 02 6686 3000 for an obligation-free discussion on how Collins Hume can help you achieve a better performing business and lifestyle.

Discover the Power of 360° Business Solutions At Collins Hume, our "360" approach means comprehensive, all-encompassing solutions tailored to your needs. Because everyone’s journey is different, we take a holistic approach to helping You. Whether optimising finances, growing your business or securing your legacy, we provide a full-circle strategy that puts you at the centre. Let’s navigate your success together. Strategy360° Business owners often face challenges like unpredictable growth, financial inefficiencies and navigating complex market environments. Strategy360 by Collins Hume simplifies these complexities by providing tailored strategic advisory services designed to improve profit, boost cash flow and enhance your business’s long-term value. Through expert guidance in financial management, business restructuring and succession planning, we help you overcome operational hurdles and maximise opportunities. Our proactive approach ensures we address common frustrations, such as poor cash flow management or inadequate risk mitigation, transforming them into strategic advantages. By partnering with Strategy360, you’ll gain clarity and control over your operations, improve profitability, increase business value, and secure a sustainable future for your business. Elevate your business to new heights. Contact Nathan McGrath on 02 6686 3000 for an obligation-free discussion on how Collins Hume can help you tailor a program to suit your requirements. Wealth360° Do you ever wonder if you're on the right path to creating wealth and securing your financial future? Is your superannuation working as hard as it could be? Are you paying too much tax, or could your investments be better structured? What about leaving a legacy—will your family be hit with significant taxes or risk losing it due to failed business operations, bankruptcy or divorce? At Collins Hume, we bring the experience and expertise to guide you through these important decisions. Working closely with a trusted network of financial planners, lawyers, finance brokers, and retirement specialists, we tailor personalised solutions to maximise wealth, protect assets, and pass them on to future generations. With our proactive, holistic approach, you’ll have peace of mind knowing your financial affairs are in order—so you can enjoy a comfortable retirement. Partner with Collins Hume today to safeguard your future, minimise tax, and secure financial stability. Tax360° At Collins Hume, we provide strategic tax solutions that minimise your tax, create wealth, and protect your assets. We go beyond the usual ATO compliance lodgements and work with YOU to educate and empower you to make smarter, more informed financial and tax decisions. By focusing on business and investment structuring, tax minimisation, and long-term wealth creation, we help you optimise your tax position and meet ATO deadlines so you can focus on yourself and your business. Whether you're an investor or a business owner, we partner with you to minimise tax, safeguard your family’s assets, and achieve your financial goals. Let us guide you through the complexities of the tax system to build a secure, successful future. Books360° Managing the books can be overwhelming and time-consuming for business owners. And let’s face it, your time and expertise are better focused on other parts of your business. Books360 by Collins Hume takes the stress out of managing your ATO obligations. Whether you need BAS lodgement, payroll, or one-off bookkeeping expertise, our specialist team ensures accuracy and compliance, allowing you to focus on growing your business. Work with us today to streamline your bookkeeping and ensure you keep up with the ATO’s relentless deadlines. We help simplify your operations and provide real-time financial insights. Being efficient and adopting technology saves you time, reduces costly errors, and improves cash flow, directly benefiting your bottom line. With the expertise of our experienced bookkeepers, including Certified Xero Professionals, you’ll have peace of mind knowing your books are in order. Let Books360 by Collins Hume keep your business running smoothly.

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