Small Business
The benefits small businesses derive from a competitive financial system are being reduced by the regulators in their “quest for stability”, the Productivity Commission (PC) has found. The finding, contained in a draft PC report titled Competition in the Australian Financial System, is supported by the Australian Small Business and Family Enterprise Ombudsman (ASBFEO), Kate […]
Trying to improve your business is hard and competitive business. As a small business, you don’t have the money or means to compete with the big brands – or so you thought – but in today’s digital age, there’s a way for every business, big or small, to make their mark and acquire a number […]
By the age of retirement, the average working woman will have lost $160,000 in superannuation due to career breaks, according to REST Industry Super. To determine the financial impacts of career breaks on working Australians, the superannuation fund commissioned research, including a survey of 1030 men and women who had taken a career break of […]
There are lots of great reasons for brands to write, blog and contribute articles. Companies that blog reportedly see 97% more links to their website and are 13x more likely to achieve a positive ROI on marketing efforts [2]. Consumers also want great blog content – 47% of buyers view three to five pieces of […]
The Federal Government is now seeking applications for grants of up to $7000 to help Australian researchers and SMEs work with overseas experts to develop and commercialise their projects. According to Minister for Jobs and Innovation, Michaelia Cash, the Global Connections Fund (GCF) Priming Grants empower organisations to collaborate in the global arena, link with […]
The price that is set for products and services is one of the most crucial decisions business owners and managers must make in a business. Entrepreneurs, new businesses and small business often give too little thought to this highly complex matter and the consequences can be dire. Pricing requires thought and an understanding of the […]
The peak body for Australia’s fintech industry has urged Federal Parliament to prioritise a ‘vital new source of funds’ for SMEs by expediting the approval and implementation of private company equity crowdfunding legislation introduced in September 2017. According to FinTech Australia chair Stuart Stoyan, the Corporations Amendment (Crowd-sourced Funding for Proprietary Companies) Bill 2017 has […]
Leading companies across a range of sectors – including finance, utilities, government, education, automotive and telecommunications – need to lift their game when it comes to customer experience (CX), a new study reveals. CX consulting firm, Customer Service Benchmarking Australia (CSBA), studied 3000 customer interactions with 136 companies in Australia, assigning each a score out of 100 […]
The deadline has been known for more than two years, yet many Australian organisations are still woefully unprepared for new data breach regulations that come into effect next month. From Thursday, 22 February, the Notifiable Data Breaches Scheme (NDB) will require all organisations that are covered by the Australian Privacy Act to notify individuals whose […]
With just over three weeks until mandatory data breach reporting laws come into effect, the Australian Small Business and Family Enterprise Ombudsman (ASBFEO), Kate Carnell, has urged small businesses to ensure they are prepared as a matter of urgency. From 22 February, organisations with personal information security obligations under the Privacy Act 1988 will be […]
Much has been said about the benefits SMEs will see from new draft legislation recently proposed by the Federal Minister for Revenue and Financial Services authorising the Australian Taxation Office to disclose business tax debts to credit reporting bureaus. While the stated aim is to “help the SME sector”, in reality SMEs will be largely […]
Every year we see an increasing number of people buying or selling online. In 2016, Australians completed 8.1 billion card transactions, totalling $714.5 billion. By 2020, forecasts project that online shopping will have doubled since 2015 and account for 15 per cent of all retail sales globally. However, as more people shop online, businesses not only […]
More than 2500 years ago, Greek philosopher Heraclitus declared the only constant in life is change. In the early days of 2018, his words have never been more accurate. But why is it that some organisations thrive in this environment while others wither? What’s the secret to success in a constantly evolving world? On the […]
Specialist advisers can now apply for grants from the Federal Government to help small business employers in metropolitan and regional areas take advantage of digital opportunities. As part of its Australian Small Business Advisory Services (ASBAS) program, the Federal Government will invest up to $18.02million over three years on the provision of low cost, high […]
There was a massive shift in the retail sector, last year, with ecommerce giant Amazon making its long-awaited debut as some of the incumbents continued to see diminishing returns. As the Amazon saga continues to play out, with a question marking hanging over the longer-term impact, we asked seven industry experts to gaze into their […]
Did you know that only two per cent of female business owners exceed $1 million in revenue? As a business owner myself, when I found this out recently, I found it absolutely staggering. What that means is that most female entrepreneurs toil away without the big gains. Never really progressing past side hustles, start-ups or […]
In light of recent allegations made against Rocky Horror Show star Craig McLachlan, it has become apparent that many employees feel that they aren’t able to speak up about sexual harassment in the workplace for fear of repercussions. According to a study conducted by the Australian Human Rights Commission in 2012 titled Working without fear: […]
Marketing, if done well, can help you engage your audience, attract new customers, and even break into new markets, ultimately leading to an increase in revenue and profits. Poorly executed marketing, on the other hand, often marks the beginning of the end for any business. Since marketing takes up a significant portion of any company’s […]
Australia’s 620,000 migrant-owned businesses are, through their hard work and ambition, making a significant contribution to the national economy, according to CGU Insurance. More than 900 business owners were surveyed as part of the insurer’s Migrant Small Business Report, which it developed to shine a light on the role migrants play in Australia’s small business […]
Small businesses contacted the Australian Competition & Consumer Commission (ACCC) nearly 5000 times in the second half of 2017, up from 3700 in the preceding six months, according to a new report. The ACCC’s latest Small business in focus report, covering July to December 2017, shows small businesses made 2365 enquiries to the Commission along […]
