Starting the new financial year is an ideal time for workers to reflect on their businesses. We’re sharing seven tips on how you can make the most of a new financial year.
The new financial year is an opportunity for independent support workers on Mable to review their activity and look for ways to build businesses.
We know it can be tricky for support workers to find the time and resources to prepare for tax time and review their business activity, so we’ve compiled seven top tips for workers – like you – to get started in the new financial year.
1. Tax time preparation
Mable helps independent support workers prepare for tax season with updates, resources and our Tax Benefits Program.
In early July, we message when your Business Net Income Statement is ready to be downloaded from the ‘Billing’ section of your Mable account.
This document summarises the net monthly business income you’ve received from clients over the financial year.
Mable’s Tax Benefits Program gives independent support workers access to exclusive discounts of 20% off for tax returns and 40% off for quarterly BAS filling from our friends at award-winning tax and accounting firm YOUtax. Workers can also access webinars, resources and 1-on-1 support through YOUtax.
For more information on tax time preparation, check out our dedicated blog.
2. Make sure all compliance requirements are up to date
We encourage you to review your mandatory certifications and qualifications, so you can anticipate when renewals are due and budget accordingly for any expenses involved.
Mable will also remind you when it’s time to update these credentials – including Police Checks, Working With Children Checks, Nurses Registration and more – plus if government authorities mandate any new requirements.
3. Think about upskilling
A common development goal for independent support workers is upskilling. The more skills workers have, the more clients they can work with. This also means workers have greater choice in the clients they support and can quickly boost business size.
The Mable Learning Hub provides independent support workers free access to over 140 training courses by reputable organisations, including National Disability Services (NDS), Dementia Australia, Autism Explained, La Trobe University and Cerebral Palsy Alliance.
4. Stay connected with industry changes
Being a member of the Mable community means we keep you updated on industry changes. For example, the minimum hourly rate on Mable has increased from $25.00 to now $32.00. Any workers previously charging under $32.00 per hour must update their rates to reflect this change.
The change to minimum rates on the platform considers current market conditions and helps workers ensure they’re paid appropriately when negotiating and entering into agreements with clients via Mable.
If you’re supporting clients on the NDIS, you can also review the NDIA’s National Price Guide to check your rates under the scheme.For more information on setting rates, please visit our indicative rates guide.
5. Build professional networks
A network of like-minded support worker buddies can provide workers with the support they need when unwell, juggling last-minute client requests or would like to take a holiday.
Having a professional network also means chances for you to share industry information, advice and new client opportunities. A great place to network is Mable’s independent support worker Facebook group – a private community where workers registered on Mable across Australia interact and connect.
You can also participate in networking sessions and meetups.
6. Refresh your Mable profile
If you haven’t looked at your Mable profile recently, but are still actively looking for new clients, now’s the time to refresh. Our blog covers ideas and market trends for worker profiles. Remember – it’s also important to keep your availability up to date so we’re sending the right job opportunities when they come up. The more suburbs you’re available in, the more chances you have of connecting with new clients and growing your business.
7. Embrace self-care
Support work is an enriching career but can at times be challenging. A new financial year can be an opportune time in adjusting a schedule to include self-care for work/life balance.
The Mable Wellbeing Platform helps you access free mental health resources and support.
24/7 confidential counselling is available, plus an extensive mental health library with exercises, podcasts, interviews and more, covering topics like challenges at work, mindfulness, parenting and fitness.