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As we approach the end of 2024 and the upcoming Christmas – New Year break, it’s a great time to reflect on the year that’s been and prepare for what lies ahead.
Looking back, 2024 has been a year of notable shifts and developments. The 8CPA agreement between the Australian Government and the Pharmacy Guild of Australia has been a key focus, with pharmacies navigating its implications and how these affect operations and profitability.
While we didn’t see any changes to the cash rate, the effects of 60-day dispensing didn’t have as significant an impact as anticipated, and pharmacies have proven resilient. In fact, the value of pharmacies has increased, and we’re currently seeing a strong sales market for them.
On the finance front, interest rates have remained high, keeping borrowing capacity tight, with lenders continuing to tighten their criteria. The high cost of living has added further pressure, highlighting the importance of reviewing your finances. It’s more crucial than ever to check your interest rates and seek experienced advice to ensure you’re making the most of your financial situation.
To make the most of this period, we’ve put together a Financial Health & Wealth checklist to help you review your financial position and set clear goals for 2025. It covers some practical steps including:
+ Review your profits, expenses, and cash flow.
+ Reassess personal and business financial goals.
+ Ensure compliance and get your finances in order.
+ Explore ways to optimise business operations and reduce costs.
Download the full checklist here.
If you’d like support in reviewing your position or have any questions, our team is here to help. Book a free consultation with us below to discuss your personal or business goals for the year ahead.
Thank you for your continued trust in Allfin. We look forward to working with you and supporting your success in 2025.
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