The Side Of Small Business Nobody Talks About

Starting a business in Australia sounds exciting until the real costs start showing up. In this episode of #TheAccountRant, Jacob Fahmy sits down with Tanner Blessington from Blessington Watches to unpack the brutal reality of building a business in Australia today. From GST, BAS, tax, cash flow and advertising costs to ecommerce chargebacks, payment provider risks, merchant fees and the pressure of trying to build a real brand, this is a raw conversation about what small business actually looks like behind the scenes. Jacob and Tanner break down why revenue means nothing without profit, why knowing your numbers can be the difference between surviving and getting wiped out, and why so many young business owners underestimate how hard it is to build something from scratch. They also discuss tall poppy syndrome in Australia, why friends and family do not always support your business, why asking a small business owner for a discount can hurt more than people realise, and why branding, marketing and visibility are not optional if you want to survive. Tanner also shares the dark side of ecommerce, including chargebacks, online fraud, customer disputes, lost stock, penalty fees and how quickly one bad transaction can wipe out your profit. This is a must watch for anyone running a business, starting a side hustle, building an ecommerce brand or thinking sales alone mean success. Need an accountant? GET A FREE CONSULTATION FOR ALL ABN HOLDERS https://forms.zohopublic.com/john205/... For business enquiries [[email protected]](mailto:[email protected]) Follow Latitude Accountants TikTok   / latitudeaccountants   Instagram   / latitudeaccountants   Website https://latitudeaccountants.com.au/ Connect with Blessington Watches Instagram   / blessington.watches   Website https://blessington.co/ Subscribe to The Account Rant for honest conversations on business, tax and money. Chapters 00:00 Starting a business young 00:55 Tall poppy syndrome in Australia 01:22 Friends, discounts and real support 02:06 Why small business is not sunshine and rainbows 04:17 The advice business owners need early 05:58 Tax, GST, BAS and knowing your numbers 06:28 Why branding matters 08:34 Visibility, attention and marketing 09:30 Spending serious money on ads 10:25 Sales, advertising and business systems 11:33 Chargebacks and ecommerce fraud 13:21 Losing thousands to chargebacks 14:36 Can chargebacks be prevented? 15:33 Merchant fees and surcharge changes 16:49 Final thoughts The Account Rant is a show where accountants vent on different business, tax and money topics. It is an honest and informal conversation intended for discussion and entertainment only. Views expressed are personal opinions and should not be taken as professional advice. Disclaimer: This video is for educational and entertainment purposes only and does not constitute formal accounting, financial, legal or tax advice.