Tips for running your small business
From setting business goals to doing your business tax return, getting a business loan, understanding business insurance, social media for business and more, our business banking experts share their tips to support you running your business.
Work-life balance tips to support small business owners
At BOQ, our people know small business – it’s who we work with every day. We also know that finding the right balance at work and home isn’t always easy, which is why we’ve gathered the best business-to-business support tips for small business owners just like you.
The biggest challenges for small business – and how to overcome them
It’s no secret that setting up a small business and overcoming the hurdles it takes to turn an idea into reality comes with challenges. Knowing how to identify potential obstacles before you come across them, and even better, knowing the best way to overcome them when you do is important to the success of your business.
Small business tips for hiring and retaining staff
One of the biggest challenges that small business owners face is hiring, managing and retaining staff. On top of finding the right people to help run your business, you also need to have strategies in place to build and maintain employee morale, retain staff and ensure productivity remains high.
A full suite of business banking solutions for managing small businesses
Small business bank accounts
BONUS INTEREST VARIABLE RATE FOR BALANCES UP TO $500,000
Earn an ongoing, competitive interest rate on your business savings that rewards you for using your linked Everyday Business Account.
- Earn ongoing Bonus Interest variable rate when you meet Bonus Criteria
- Simply deposit $5,000 or more and do 5 or more eligible transactions on your linked Everyday Business Account
- No minimum balance required
Maximise your import and export potential
From traditional trade products to tailored finance solutions, BOQ offers a range of trade finance solutions for your import and export business.
- Manage payment and foreign exchange risk
- Finance imports and exports
- Establish a foreign currency account
ADDITIONAL INTEREST FOR 4 MONTHS ON BALANCES OVER $10,000
Make the most of your business savings with the flexibility of accessing your money anytime.
- Earn additional interest for 4 months as an introductory offer
- No monthly account maintenance fees
- Unlimited transfers
Small business loans and finance to update your business
Flexible Investment and Development Loan
With a minimum loan amount of $500,000, our Commercial Rate Loan is designed for property development, property investment or business acquisitions purposes. Plus, for a limited time only, get up to $2,000 back on your valuation fee.^
- Suit your cashflow by choosing from four loan options
- Progress draws available
- Accepted security includes residential property, commercial property, business assets, directors' guarantee, fixed and floating company charge
Finance your equipment without tying up your cashflow
Whether you want to lease your equipment, salary package your vehicle or you're looking for a short-term finance solution to grow your business, we can help with a full suite of funding options.
- Spread your repayments over the life of the equipment
- No capital outlay
- Structure repayments to suit your cash flow
Flexible cash flow options to help you succeed
Manage your cashflow and cover expenses
You can't always predict when an unexpected expense will arise, or when you need to cover shortages in your cash flow. Our Business Overdraft gives you access to a minimum of $10,000, up to an approved limit.
- Attach to your BOQ Business Transaction Account for access when you need it
- Interest only charged on funds utilised
- Access your overdraft via EFTPOS, online banking, direct debit, in branch or via cheque
Guarantee payment without having to supply an upfront deposit or bond
Bank Guarantees enable you to grow your business by providing your suppliers, landlord, or government authorities with the security of guaranteed payment.
- Flexible security options
- Faster turnaround (5-8 business days) with our Express Bank Guarantee Facility (up to $100,000 customer limit and 100% cash security)
- Earn interest on cash security at standard Term Deposit rates
Merchant and payment solutions to get you started
Small business insurance solutions
Free up your cash flow spent on insurance premiums
Pay your annual insurance premiums through flexible repayments, allowing your working capital to stay in your business.
- Easy monthly instalments
- 6 to 12 month options
- Release cash flow to invest back into your business