Small Business
Almost 9 out of 10 small business owners agree that an insurance claim has the potential to put them out of business, cause them to lose revenue, or dry up cash flow. Despite these statistics, 62 per cent of SMEs said they are unlikely to have the right insurance in place to protect their business. […]
In August, we undertook one of the most exciting and stressful steps in our company’s life: we rebranded. For six years, we were HealthKit and now, we are Halaxy. And as exciting as that change is and what it represents for our company’s future, rebranding is not an easy decision to make — nor to […]
When creating a website, it is easy to lose focus of what really matters: the experience for your customer. A recent study found 75 per cent of people form their opinion of a website based on aesthetics – meaning web design is crucial to drive positive brand awareness and business growth. The following seven tips […]
If you weren’t already aware, The Telstra Business Awards recognise Australia’s best businesses and give companies a platform to gain credibility, network and access expert advice. Dynamic Business has rounded up the winners from each state to learn the who’s who of the winning businesses and learn more about their success so far. All 2019 […]
The way customers discover, browse and purchase has changed irrevocably over the past decade. Yet a few fundamentals hold true – at the heart of the customer journey is human, one-to-one interaction which businesses need to provide at scale. The way businesses do this will vary, but ultimately comes down to instilling confidence, building connection […]
Prushka Fast Debt Recovery has released their latest report, ‘Canary in the Coal Mine,’ which shows that although Australian small businesses remain confident despite economic uncertainty, growth plans are diminishing. The bi-annual survey found business sentiment is high, with 64 per cent of SME owners confident about the current position of their business. However, there […]
There are barriers restricting small business owners from growing their businesses and acting on their plans, and these barriers are estimated to cost the Australian economy $93.8 billion per year – a figure dubbed the Dormant Dollar. 39 per cent of Australian small business owners have ideas, plans and visions they believe would grow their […]
How do you know that your business idea is a good one? Well, raising $37,455 on Kickstarter – a crowdfunding platform – isn’t a bad start. Especially when your target was actually lower than that, at $20,000. Overall, there are 354 people in 37 countries that have supported Gabby Samkova’s business venture so far, which aims […]
In Australia, more than a third of small businesses are now run by Millennials, and according to the latest research by Xero, they are ready to expand their businesses. Small business owners under 35 are ready to grow and have concrete plans to hire new staff, acquire more resources and build their companies. In doing […]
Entrepreneurs start businesses with a vision to fulfil a need currently not being met in the market. As they grow their businesses, they can often feel alone and struggle to get the expert insights that can make a difference and accelerate their growth. The brutal truth can often be that the realities of cash flow, […]
Whilst having a good understanding on the governance controls and financial duties of operating your SME are important a 2017 NAB (Character Traits of Successful SMEs) has found that its less about these and more about your passion, grit, resilience and developing a growth mindset that really matter. According to Kwanghui Lim, Associate professor of […]
A new global study carried out by MuleSoft, a software company for building application networks, shows that four out of five consumers are receiving ‘disconnected’ experiences from businesses. In Australia, 79% of consumers believe organisations in at least one of the five sectors surveyed – banking, insurance, retail, healthcare and public sector – provide a […]
A series of recent business failures highlight a skills gap that is widespread in business. The Royal Commissions into banking, aged care and disability; the celebrity chef wages scandal; and this month’s liquidation of domestic violence charity White Ribbon Australia are just some of the cases that highlight a flaw that is now common and […]
As we are all aware within the small business and startup world, most new businesses don’t make it past the three year mark and are forced to close up shop. According to the Australian Bureau of Statistics, it’s more than 60 per cent of small businesses that cease operating within their first three years – […]
The latest American Express SME Pulse research reveals that more than 75 percent of Australian small businesses don’t have strategies in place to appeal to millennials or Generation Z (1). This is despite the fact that growing their market shares in this target area will dramatically boost their financial performance, even within just the next […]
The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell says advisory boards are increasingly playing a key role in Australia’s small business’ success stories. Speaking at the Global Thought Leadership Summit in Melbourne today, Ms Carnell said 74% of businesses that use advisory boards want assistance with their growth strategy. “Advisory boards are a […]
Zendesk’s latest report “Big Expectations, Small Businesses: What Customers Want” reveals that small businesses have a distinct advantage over big businesses when it comes to the customer service they provide. In fact, customers are happy to pay more to a small business for this reason alone… great news for small business owners! Key findings: 65% of […]
Proper trading terms establish a concrete foundation for your business, clearly defining your legal rights and relationship with our customer from the beginning. We’ve all signed onto an online platform by acknowledging terms and conditions, however once read carefully, you would be amazed at what you’ve actually agreed to. Chances are that your own business […]
The Retail Innovation Program will return in 2020, developed by early-stage investment firm Investible in partnership with the City of Sydney, with an expanded program and capacity to support more local retailers. Designed to help future-proof Australia’s retail sector, the intensive 12-week accelerator will provide business owners the opportunity to innovate, scale and grow – […]
Small business retailers have certain responsibilities when it comes to serving their customers. We want to get down to the facts of what these responsibilities are – mainly in terms of returns, replacements and refunds – which can be a big part of your customer base returning and ultimately, your profitability. Perhaps what we have […]
