Small Business
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 […]
New figures released today show 5000 small business owners have received help from Service NSW’s one-stop shop Business Concierge service. Service NSW for Business Executive Director Bridget Barrett said the service is all about helping people start, grow or run their small business, potentially saving them time and money. “Service NSW has become more than […]
Recent Xero research has revealed that payday problems are widespread across Australia. 29 percent of small business employees have been paid late 43 percent of Australian workers have had mistakes in their pay, increasing to 49 percent for small business employees 45 percent have missed paying bills and mortgage repayments as a result of being paid late […]
Small business owners channel an incredible amount of time and energy into their work. But no matter how much hard work you’re doing, if you don’t know how to cut down on those repetitive time-wasting tasks, it can often feel like you’re chasing your own tail. Many owners are selling themselves short by not thinking […]
Dynamic Business attended Xerocon in Brisbane earlier in the month, and spoke with Trent Innes, Managing Director of Xero Australia about the problems small businesses are facing right now. Xero regularly release small business data insights that shed light on the SME community and the real-time issues. We wanted to ask first-hand what’s happening on […]
Veganism is on the rise… and it’s a big business. It’s not just vegan companies such as Impossible Foods and Beyond Meat (recently listed on NASDAQ) which are servicing the growing demand. Fast food heavyweights such as McDonald’s, KFC, Burger King and Hungry Jacks have also weighed in, launching or planning to launch specific vegan menu […]
More than two thirds (67%) of small businesses have not discussed mental health days, according to fresh data from MYOB. The finding, from a survey conducted with 757 Australian small business operators, is compounded by the fact that just half (52%) of respondents said they feel able to address mental health issues affecting their staff. […]
The Australian Small Business and Family Enterprise Ombudsman Kate Carnell has reminded small businesses they have until 30 September to adopt Single Touch Payroll (STP). Small businesses with 19 employees or less are required to make the transition to STP by the deadline in two weeks. STP became mandatory for small employers on 1 July […]
Managers need to be prepared for the extra work and responsibilities that accompany growing business, and put into place the right strategies and mindset to facilitate positive and successful growth, according to SAP Concur. Fabian Calle, General Manager, SMB and Nationals, ANZ, SAP Concur, said, “SMBs looking to expand need the right tools, plans, and […]
