The numerous problems that need to be addressed (1)
The numerous problems that need to be addressed
Part 1 of a 3 part series
People go into business for a variety of reasons, whether it be simply to make a profit or because they have a passion for a product or service. But in the Australian modern world, business owners always appear to draw the short end of the stick, so let’s discuss profit, taxes, governments dipping their hands in your pockets, and the union movement to see if we can’t make any sense of the insane world in which we live.
It’s insane if you’re a business owner, or perhaps even a corporation trying to make a profit, but at the same time make a difference to the lives of those with whom you interact – we’re talking staff, customers, suppliers and any other stakeholder you can think of.
In a business, there are revenues and costs. That’s it. One would hope that revenue is greater than cost so you make some money out of it, what we call profit. From that profit, the government has always stuck its hand out and taken some of that from you, so one would hope by the time all the leaches have had a go at you, there is still something left for you who, after all, is taking all the risks.
Some of the things that impact on profit may not show up in a profit and loss statement, which is why numerous business owners ask their accountants, “If I made all this profit, […]