Small Business
Spending too much time sussing out the competition can be a distraction, but when I do, the insights are often important to my SME and my direction as a leader and innovator. This information is occasionally acted upon or at a minimum, it influences my thinking, my team and my business. In a world where the focus is increasingly on collaboration rather […]
Millennials have never been more important to Australian companies than today. In fact by 2020, millennials are expected to make up half of the Australian workforce, with their numbers set to reach 75 per cent by 2025. With this in mind, what do business owners need to know about this generation? Millennials are known to […]
As Australia transitions to being a cashless country, retailers are being urged to stay ahead of the curve and embrace new payment innovations. Those who don’t futureproof their businesses, but instead restrict the ability of consumers to make electronic payments, are not only missing out on sizeable business but risk becoming obsolete. Garry Duursma, Head, Market Development […]
When you’re selling to businesses or to government, you will find that most deals and contracts of significant size and value are transacted through formal processes like competitive tenders. As a result, you’ll be dealing with the customer’s procurement or purchasing department. Unfortunately, this can seem impersonal and challenging. Yet it doesn’t have to be […]
If you’ve effectively taught a client that they have 60 to 90 days in which to pay you, it is then very difficult to get them to start paying on time. To avoid this, make sure you and your client both agree to the credit terms when you set a new account up. This may […]
What’s the difference between confident entrepreneurs leading blossoming businesses and owners who can’t get out of survival mode? Having a clear marketing strategy. It’s all too easy to get caught up in the day-to-day execution of your marketing tactics such as building a website, advertising, posting on social media, just to name a few. But […]
Employee engagement is a key theme for many SMEs as they struggle to attract and maintain talent in the highly competitive employment market. According to Gallup’s State of the Global Workforce report, only 13% of employees worldwide are engaged at work and in Australia only 24% of workers are engaged. Employee engagement isn’t the same […]
Take a look across the skyline of any Australian capital city and you’ll see the hallmarks of a healthy building and construction industry. Hundreds of tower cranes busily feeding materials to teams of contractors working together to bring the architects’ futuristic multi-story tower designs to life with extreme precision. These complex multi-billion dollar projects, run […]
Life can be unpredictable, particularly when it comes to expenses. Something as simple as a flat tyre or broken washing machine can throw your budget out fast. It’s these kinds of urgent and unforeseen expenses which payday loans, also known as cash loans, are often suitable for. They are designed to give you access to […]
We live in exciting time. It seems like every day a new device or application is launched that has the potential to change our lives and the way we do business. Unfortunately, most small businesses do not have the means to buy every single new innovation so they need to be pragmatic on where and […]
The current federal government is more popular amongst SMEs than its predecessor but an increasing number of business owners are dissatisfied with the Coalition’s support, according to the latest MYOB Business Monitor The bi-annual national survey of over 1,000 SME operators revealed that since being elected to power in September 2013, the Coalition government has […]
For small business owners, the intrigue of taking their products and services off shore can be too exciting to ignore. But among all the hype that international business can bring, there are still numerous risks to assess and manage if you decide international trade is right for you. Perhaps the most important area to consider […]
Contrary to popular belief, effective marketing doesn’t require copious amounts of time and money; it just requires smart strategy. For start-ups with resource constraints, marketing can be neglected, and not prioritised as an effective way to propel their business into the market. However, in the competitive digital landscape, there is an increasing need for more […]
While it’s a vital part of good cashflow management, chasing late payments is not something that most business owners enjoy. What can you do to get your clients to pay on time? And what can you do when you’re stuck with a customer who won’t settle their debt? Prevention is cure The first way to […]
When you start a business, it isn’t just about what you do well that ensures your path to success, but your customers. Don’t fall into the trap of accepting any client because you’re desperate for business: if you are careful and patient at the beginning, it will pay dividends for your business and your reputation […]
Ever wondered what makes a strong company, strong? You’re not alone. For years, unsuccessful brands have been chasing the “secret formula” used by Apple, Amazon, Zappos, and others. Here’s what separates the good from the mediocre. Market And Customer Impact Brands that are wildly successful “wow” their customers. They don’t just make them happy or […]
Small business operators are working weekends and nights to organize the paperwork necessary to meet their EOFY obligations, according to the latest MYOB Business Monitor – a bi-annual national survey of over 1,000 SME owners. “Many operators are making significant personal sacrifices over and above running their day-to-day business, making EOFY not only stressful but […]
Many of Australia’s small businesses might be missing out on potentially valuable tax deductions by not consulting with a financial expert, according to research highlighted by finance and tax software developer Intuit. Conducted with Galaxy Research, the study involved a survey of 400 small business owners in May, this year. The researchers found that, as the countdown to EOFY […]
It’s time: you’ve found the perfect opportunity, written your plan, and forecast your financials for the next year. You’re finally ready to get your ecommerce business up and running. But how? [Editor’s note: This is the first of a seven-part series by Chris Dahl of Pin Payments providing an essential guide to setting up an […]
Small businesses can take the pain out of meeting EOFY tax-time requirements by ditching the shoebox overflowing with expense claims and invoices. Dynamic Business spoke to Concur, an expense management solutions provider, to find out more about how small businesses can better manage their invoices and expense claims at tax-time. According to Murray Warner, director business development […]
