It is absolutely critical that SME's in particular gain a comprehensive understanding of the new Fair Work Act requirements. Many small businesses are especially vulnerable because the changes are so significant that relying on current practices will not be appropriate.

Many SME's appear to have absolutely no idea about the significance of these new laws. For more details, follow this link & watch the videos

Most businesses have direct costs that deliver sales. This fact applies to service businesses as well as stock carry businesses. A service business has the labour costs of its service personnel while a trading business has the cost of its goods sold.

These direct costs of sale will always form the greatest cost of doing business and so reducing them relative to the sales of the business will naturally result in significant profit improvements.

Gross profit = sales/cost of sales

Gross profit % = gross profit/sales x 100