Should small business owners just suck it up when tax changes hit? After listener feedback, Ben McEachen from Hope Mornings and accountant Pete Burrows from Lower Russell and Farr take a fresh look at what working for yourself really costs. Pete shares the tight early years, the unpaid admin nobody sees, and how uncertainty taught him to lean on his faith. You’ll learn how to test a business idea against your current wage, when it’s time to walk away, and why no small business owner should go it alone.

Key Takeaways:
Absorbing Change Without Support: Small business owners often have to absorb tax and policy changes they didn’t ask for, usually without any help to adapt.
Benchmark Against Your Wage: A business idea is worth testing against the salary, leave and entitlements it would replace, not just against whether it sounds good.
The Hidden Workload: Much of running a small business is unpaid work done behind the scenes, from BAS and bookkeeping to paying staff properly.
Know Your Exit Before You Start: A time frame or dollar target for getting out helps owners avoid throwing good money after bad as industries change.
Small Business Can Be Lonely: Mentors, networking groups and contemporaries matter, because owners carry pressures that people on wages rarely see.
Faith in the Lean Seasons: The uncertainty of self-employment can push owners to lean on faith and trust when the bills are due and the money isn’t in yet.

Notable Quotes:
“You need to know your way out of a room when you walk into it.” — Pete Burrows
“It does make you lean a bit on your faith and just trust in the sense that, you know, I don’t know how I’m gonna pay the bills this month.” — Pete Burrows
“The benchmark should be what your job is now.” — Pete Burrows
“You as a small business operator, more than me as an employee, might actually be more painfully, sometimes joyfully aware that you’re not in control as much as you’d like to be.” — Ben McEachen
“Just like in life, you’d probably need more friends than you think you need in business.” — Pete Burrows

Got a question, comment or personal story to share? Send it through at hopepodcasts.com.au. Ben and Pete will get stuck into it on a future episode.

Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.

Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.

Should small business owners just suck it up when tax changes hit? After listener feedback, Ben McEachen from Hope Mornings and accountant Pete Burrows from Lower Russell and Farr take a fresh look at what working for yourself really costs. Pete shares the tight early years, the unpaid admin nobody sees, and how uncertainty taught him to lean on his faith. You&rsquo;ll learn how to test a business idea against your current wage, when it&rsquo;s time to walk away, and why no small business owner should go it alone.
Key Takeaways:
<ul dir="ltr">
<li>Absorbing Change Without Support: Small business owners often have to absorb tax and policy changes they didn&rsquo;t ask for, usually without any help to adapt.</li>
<li>Benchmark Against Your Wage: A business idea is worth testing against the salary, leave and entitlements it would replace, not just against whether it sounds good.</li>
<li>The Hidden Workload: Much of running a small business is unpaid work done behind the scenes, from BAS and bookkeeping to paying staff properly.</li>
<li>Know Your Exit Before You Start: A time frame or dollar target for getting out helps owners avoid throwing good money after bad as industries change.</li>
<li>Small Business Can Be Lonely: Mentors, networking groups and contemporaries matter, because owners carry pressures that people on wages rarely see.</li>
<li>Faith in the Lean Seasons: The uncertainty of self-employment can push owners to lean on faith and trust when the bills are due and the money isn&rsquo;t in yet.</li>
</ul>
Notable Quotes:
<ol dir="ltr">
<li>&ldquo;You need to know your way out of a room when you walk into it.&rdquo; &mdash; Pete Burrows</li>
<li>&ldquo;It does make you lean a bit on your faith and just trust in the sense that, you know, I don&rsquo;t know how I&rsquo;m gonna pay the bills this month.&rdquo; &mdash; Pete Burrows</li>
<li>&ldquo;The benchmark should be what your job is now.&rdquo; &mdash; Pete Burrows</li>
<li>&ldquo;You as a small business operator, more than me as an employee, might actually be more painfully, sometimes joyfully aware that you&rsquo;re not in control as much as you&rsquo;d like to be.&rdquo; &mdash; Ben McEachen</li>
<li>&ldquo;Just like in life, you&rsquo;d probably need more friends than you think you need in business.&rdquo; &mdash; Pete Burrows</li>
</ol>
Got a question, comment or personal story to share? Send it through at <a href="https://hope1032.com.au/show/money/">hopepodcasts.com.au</a>. Ben and Pete will get stuck into it on a future episode.
Pete Burrows is an accountant for small business and individuals with <a href="https://www.lrf.com.au/">Lower Russell and Farr</a> in Penrith, Western Sydney, Australia. Ben McEachen hosts <a href="https://hope1032.com.au/programs/hope-mornings/">Hope Mornings on Hope 103.2FM</a> in Sydney, Australia.

Money: Faith & Finance explores the profound and practical of everyday finances. In every episode, we explore the real-life impact of everything from superannuation to stewardship, the World Bank to your wallet – and what does God have to say about money?

Welcome to the profit, loss and real balance sheet of wherever money intersects with you.

Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.

Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.

Money: Faith &amp; Finance explores the profound and practical of everyday finances. In every episode, we explore the real-life impact of everything from superannuation to stewardship, the World Bank to your wallet – and what does God have to say about money? Welcome to the profit, loss and real balance sheet of wherever money intersects with you.
Pete Burrows is an accountant for small business and individuals with <a href="https://www.lrf.com.au/">Lower Russell and Farr</a> in Penrith, Western Sydney, Australia. Ben McEachen hosts <a href="https://hope1032.com.au/programs/hope-mornings/">Hope Mornings on Hope 103.2FM</a> in Sydney, Australia.

Money: Faith & Finance

Listen to more from our Hope Podcasts collection at hopepodcasts.com.au. And send the team a message via Hope 103.2’s app, Facebook or Instagram.

This podcast is not offering financial or investment advice. It's always best to do your own research and to consult a professional financial or investment advisor before making any financial or investment decisions.

Listen to more from our Hope Podcasts collection at <a href="http://www.hopepodcasts.com.au/">hopepodcasts.com.au</a>. And send the team a message via <a href="https://hope1032.com.au/listen/#apps">Hope 103.2’s app</a>, <a href="https://www.facebook.com/Hope103.2">Facebook</a> or <a href="https://www.instagram.com/sydneyshope1032/">Instagram</a>. This podcast is not offering financial or investment advice. It's always best to do your own research and to consult a professional financial or investment advisor before making any financial or investment decisions.