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25 October 2019
For those of us who are business owners, many remember that first time we ventured into the business world. Whilst we were all quite competent in our respective professions, the leap from professional to business owner is a big one.…
9 May 2019
In today’s era of taxation law, the days of a “once a year” tax planning strategy are long gone. It’s a year-round strategy that you must be aware of and communicate regularly with your accountant on. However, with another financial…
11 April 2019
It is often said that cashflow is the lifeblood of any business. This is extremely relevant in pharmacy where so much money is tied up in stock, customer debtors, PBS amounts owing, together with paying suppliers, etc. It is a…
28 March 2019
By far the most common legal structure used by most small businesses, and certainly since October 2010 in pharmacy land, are Family Trusts. While they offer a lot of benefits, particularly regarding income distributions and tax efficiency, they are very…
14 February 2019
The reality of modern-day pharmacy is that the most likely entry point for a young pharmacist into ownership is via a partnership opportunity. Most pharmacists just do not have enough available funds to invest in a pharmacy outright.
10 January 2019
In keeping with the saying ‘good decisions come from good data’, this blog will focus on the first considerations in preparing your pharmacy for accurate monitoring of its financial performance.
6 December 2018
Anything to do with tax is often complicated and best left in the hands of your tax accountant. There is a lot of detail and issues that are all interacting with each other, making it so much harder than what…
29 November 2018
Short answer — yes, yes it is. Overwhelmingly, yes.I guess you don’t have to read the rest of this article now, but if you want to know why and access free resources for your pharmacy, perhaps stick around.
15 November 2018
Just when you thought the craziness of exams and assignments was over and you could relax a little, pharmacies are now preparing for the rush of extended Christmas trading, school holidays and customers trying to reach their Safety Net limit!
8 November 2018
With the ever-changing pharmacy landscape, monitoring our data and measuring our performance become even more important. Good business practice says we need to be top of our financial data, so we can manage our business activities properly and make the…