Growing
Businesses with an annual turnover of up to $10 million will benefit from the $20,000 instant asset tax write-off scheme for a further 12 months, the Government announced in the Federal Budget. The extension has generally been welcomed, although there have been calls to make the measure permanent and increase the write-off threshold to benefit more businesses. […]
If you are seeking to foster a high-performing workforce in your organisation, it would be counter-productive (not to mention narrow-minded) to subscribe to the saying “out with the old, in with the new”. Long-held myths about mature age workers (e.g. they are change-averse, they are not tech-savvy, they have a ‘use by date’, etc.) have […]
As part of its Businesses of Tomorrow program, Westpac has today recognised 200 ‘outstanding’ businesses, including 20 ‘high-potential’ organisations, that have “demonstrated a clear vision to shape Australia’s economy… as it transitions to a services and knowledge-based economy”. The 200 ‘Businesses of Tomorrow’, which have a collective turnover of approximately $2 billion per year and […]
This may be a passage from Lewis Carroll’s novel Alice’s Adventure in Wonderland but it perfectly sums up the strategic approach of many Australian businesses… “Would you tell me, please, which way I ought to go from here” said Alice. “That depends a good deal on where you want to get to”, said the Cat. “I don’t much care […]
Fifty years ago, running a company was a much more predictable business. There was less competition and customers were generally content to make their purchasing choices based on what you had on offer. If you were a leader in your market, the odds were you’d still be leading the pack ten years hence. Today, executives […]
1266% revenue growth. Business sale ROI of 10 x the purchase value. $1.25m profit. Yield growth of 293%. These are numbers many small to medium business owners could only dream about. However, it’s what one business, Cleanawater, achieved in just 5 years. How did they do it? By investing 6.56% of the business’ turnover into […]
Entries are now open for the 25th annual Telstra Business Awards, which recognise the achievements and entrepreneurial spirit of small to medium businesses and charities in Australia. Telstra Business Group Managing Director and Awards Ambassador, Paul Tyler said each entrant will receive a comprehensive ‘business health check’, which benchmarks their performance against industry standards and identifies […]
Commonly defined as enterprises employing nine or fewer people, “micro-businesses” are big players on the business stage. In 2013, they accounted for 14% of all businesses newly opened in Australia, but only 9% of businesses shutting down[1]. Any new business will face its share of growing pains. When you’re trying to grow your business without […]
It’s a familiar tale: a small business gets off to a flying start…and then growth stalls. Sales plateau, staff morale falls and the company’s leader feels frustrated at his or her seeming inability to take things to the next level. Often, this is caused by the leader’s failure to adjust their leadership approach from a directive […]
Seven in ten small businesses want the $20,000 instant asset tax write-off to continue past 30 June, this year, when it is due to expire, according to accounting software provider MYOB. The latest MYOB Business monitor, a bi-annual survey of more than 1,000 small businesses, asked operators what policies they would and wouldn’t vote. MYOB […]
A new year inevitably leads to new business goals but what many SME owners don’t realise is that these goals could trigger compulsive behaviours and actually stunt a company’s growth. There are only two types of goals business owners make – objective and subjective – the latter will negatively impact profits and workplace culture. Subjective […]
Business development involves activities that enhance the value of your brand, such as capturing market share and nurturing relationships with internal and external stakeholders. Regarding the latter, without feedback from clients and employees, it will be difficult for organisations to determine the direction business development should take. Here are five ways to attain your business goals through feedback: Improve Employee Workflow […]
Innovation: it’s a buzzword commonly heard in the realm of business, and for good reason. Entrepreneurs are encouraged by their mentors to innovate; the word appears in slogans and taglines across the web. So just what is innovation, and why is it so critical to the success of your small business? What is innovation? Most […]
When reviewing the financial performance of a business, the primary measure I look at is Return on Capital Employed (ROCE). ROCE not only measures the profitability of a business but also the efficiency with which its capital is employed. In Laymen’s terms, ROCE works out how much bang for your buck you’re getting out […]
Small businesses often have specific financing needs and may require funding support to compete in international markets or to fulfil export-related supply chain contracts. For businesses trying to navigate that next growth phase into an overseas market, there are a number of differences between exporting and operating in Australia which will have an impact on […]
Any inefficiencies within your business can eat away at your bottom line and makes things a lot harder than they should be, which why it makes sense to find some ways to streamline your operation. There are many aspects of your business to evaluate from using an international parcel service to keep control of your […]
With the emergence of a range of new funding sources for small and medium sized businesses, it’s crucial to understand what your company’s debt funding options are and the most competitive interest rate you will be able to obtain. The following sets out the broad categories of the different funding options for businesses and the […]
By expanding its on-demand food delivery service into Perth, Deliveroo has created new opportunities for growth in the other Australian capitals where it operates, according to country manager, Levi Aron. Founded in 2013 by William Shu and Greg Orlowski, the London-based company hit it’s 100th city milestone, last Tuesday, when it launched in Perth. Deliveroo’s […]
Despite globalisation removing barriers to overseas expansion, it appears that SME owners are not yet convinced of the benefits. Recent data from Bentleys, a mid-tier accounting and business advisory firm, found that only 19% of Australian and New Zealand businesses operated in overseas markets. The latest The Voice of Australian Business survey, a bi-annual national survey of SMEs, revealed that a majority […]
Building and growing a business requires a lot of effort + a little luck + investment capital. Effort is hard work over a period of time and luck is often a by-product of effort. This leave’s investment capital: deciding how to raise investment capital is not an easy decision. There is no one-size-fits-all approach to […]
