Retailers are looking to not just survive but thrive in today’s economy but face a variety of industry specific challenges. Managers should look for a trusted advisor who they know can understand their challenges and is able to provide guidance and relevant business solutions.
Quill has assisted numerous clients in the Retail, Wholesale, Import/Export and FMCG industries.
As a result of COVID19, which brought trading restrictions and lockdowns, traditional ‘bricks and mortar’ retailers need to explore new and innovative ways to continue to trade and safeguard their business should restrictions continue in the future.
The team at Quill can help by offering integrated solutions to help you with compliance, reduce costs, and capitalise on opportunities – such as selling online. There are multiple third-party trading platforms that exist to help. The cost of engaging a web developer to build a custom E-Commerce portal is now more competitive than ever. Both the Federal and State Government are also investing heavily in enabling business to trade online by announcing various grants and funding that may support the costs associated with creating an E-Commerce platform for your business.
So, what can we do for you? Quill can help with setting up a chart of accounts to enable online sales, advise what tax is applicable specific to certain third-party platforms (such as Shopify, eBay, etc), GST obligations on products for export, trading policies and terms and conditions, as well as taxation and GST reporting requirements for each online sales platform.
The global pandemic also changed the way wholesalers and exporters need to market and promote their products. Traditional in-house promotions, tradeshows and networking events are no longer the norm so businesses need to find innovative ways to stay competitive. Quill know that in this highly-competitive and fast evolving industry, partnering with an advisor that can help you develop new channels to grow your business is critical. Just as important as growth, is understanding what government grants are available to help defray the cost of marketing and promoting your products overseas.
And, whilst more businesses are gearing up to trade online, traditional retail (via outlet stores, shopping centres, etc) is still where the vast majority of consumer products are sold. However, it is important to closely scrutinise overheads, product lines and costs, stock on hand, sales price, shipping cost, leasing cost, staffing costs, the list goes on, to ensure that the cost of selling your products is as efficient as it can be and profits are maximised.
Quill can assist with analysing the costs and revenues of your business, as well as undertake waste and process audits, profit setting and other important activities to ensure that all financial savings are realised, and profit milestones are achieved.
Select your desired option below to share a direct link to this page.
Your friends or family will thank you later.