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Expanding internationally always has risks but developing a business during a global pandemic is not usually a central part of a risk management strategy. The global nature of the COVID-19 outbreak has given international businesses an unprecedented challenge, one that requires diversification and resilience. Here are a few ways you can mitigate the pandemic risk […]
In today’s Kickstart Monday article, RateMyAgent CEO Mark Armstrong shares his advice on resilience as a leader and the importance of scalability in a business model. Mark Armstrong is a property entrepreneur with over 20 years’ experience in the real estate industry. Prior to founding RateMyAgent, Mark built a reputation in the property industry giving […]
As a result of the COVID-19 pandemic causing business disruptions of an unprecedented scale, alternative lender Lumi has today called for lenders to put aside their differences and create partnerships to avoid finance bottlenecks in light of the government’s $15b injection announcement to small business loans. Due to the data and technology capabilities Lumi and […]
We’re interrupting the coronavirus/small business coverage briefly, to bring you our regular entrepreneur Friday with Luke McLeod, who is the founder of Soul Alive. The meditation startup is bringing calmness into a world of panic and uncertainty… so it’s particularly relevant right now with the coronavirus pandemic escalating across the world. With meditation and self-care on […]
As the coronavirus pandemic continues to have a global impact on the foodservice industry, Australian hospitality owners are encouraged to take some important steps to help them ride out the storm. Hospitality owners should be looking closely at their last P&L statement to see where the impact will be felt. If sales fall, how will […]
Last week we brought attention to the fact that sole traders had been missed out in the first stage of the stimulus package put forward by government during the COVID-19 pandemic. The Small Business and Family Ombudsman, Kate Carnell, called for more support for businesses that do not employ staff, saying they needed “income support […]
With rapidly changing market conditions due to COVID-19, communicating with customers via social media has never been more important. Expert Carissa Hill said it was imperative business owners embrace the instantaneous nature of social media to keep stakeholders and clients informed. “Every business owner should have at least a pinned post on their Facebook page […]
As the nation moves to remote working to flatten COVID-19, the use of legal technology has gone from being a luxury to a necessity overnight. John Ahern, CEO of leading tech innovator, InfoTrack, said “The original purpose of legal-tech was to automate and create workflow efficiencies in practice.” “But now more than ever before, legal […]
Cash flow is a huge concern for small business at the best of times, however with the unprecedented coronavirus pandemic also, today’s Let’s Talk is especially important. We have made sure to give you the best information possible regarding support during this challenging time, such as: Stimulus package break down Advice for working from home […]
As the COVID-19 pandemic continues to affect individuals and businesses across the globe, many governments and health organisations have advised working from home as a means to slow the spread of the virus. Indeed, many Australian businesses have already implemented mandatory work from home practices for their employees. Globally, we’re undergoing the world’s largest work-from-home experiment […]
Small business is placed under tremendous pressure with the coronavirus pandemic, so ActionCOACH ANZ have summarised the key pieces of advice to help weather the storm. With the knock-on effects of coronavirus impacting consumer behaviour, small businesses must be innovative and find ways to stay competitive and ensure their survival. “Certainly, these are extremely trying […]
The pending shut downs of non-essential services across parts of Australia may trigger conditions in the Fair Work Act that will allow employers to stand staff down without pay, according to Employsure, Australia’s leading workplace relations company. In a Government imposed closure of a workplace, employers may be in a position to stand staff down […]
Yesterday the prime minister Scott Morrison announced a second stimulus package of $66 billion to help the economy survive the impacts of the COVID-19 outbreak. The federal parliament could sit for just one day today to pass the government’s stimulus measures as quickly as possible, before members of parliaments reduce meetings for social distancing purposes. […]
Small businesses impacted by the coronavirus crisis will be able to defer their loan repayments for six months under a plan put forward by the banking industry. Australian Banking Association chief executive Anna Bligh said, “This is a multi-billion-dollar lifeline for small businesses when they need it most, to help keep the doors open and […]
Many businesses are feeling the effects of COVID-19, and in mainstream media the negative ones have been extensively covered. We know that the global pandemic will have a detrimental impact on the economy, with the RBA making an unscheduled record-breaking interest rate cut yesterday and the government announcing a $17.6 billion stimulus package. As we […]
Many businesses are offering either free services or products during this challenging time that small businesses can take advantage of. These range from software, to forums to parent-specific tools. Please follow Dynamic Business for updates on these resources, which we will continually add to, and also for updates on the stimulus package and what you […]
With governments and workplaces now rapidly escalating their responses to the COVID-19 global pandemic, the crisis has shone a spotlight on the inherent precariousness of casual employment here at home. UPDATE: Casual employees (of 12 months or more) are entitled to government’s JobKeeper payment McDonald Murholme Senior Associate Arthur Hambas says that casual workers are […]
The Australian Small Business and Family Enterprise Ombudsman Kate Carnell has written to Prime Minister Scott Morrison, requesting support for Australia’s small business sector, including the nation’s 1.4 million sole traders. Read up on: COVID-19 economic plans and the government’s stimulus package. “The COVID-19 driven downturn is already taking an unprecedented toll on the Australian small business […]
Ask any small business owner what keeps them up at night and they will say cashflow is their top concern. Understandably so, as it plays a pivotal role in a business’ survival. This year has started out rough for all of us. In Australia, we first had to fight through the bushfire crisis, and now […]
Company values help employer and employee alike to achieve their business goals through inclusion, alignment and solidarity. They are the foundation of the company, in that they mould the overall identity and purpose of the brand. They also guide the operations of a business, and provide clear directions for decision-making. For example, if a company […]
