Small Business
Facebook’s latest algorithm changes are being called a ‘nightmare’, even ‘apocalyptic’ for businesses and publishers. Yes, the update will make it more difficult for SMEs to reach their target audiences than previously. But we’ve been here before. And businesses will simply have to adapt their social media strategy to remain competitive. Why the changes? The […]
Consumers have become increasingly comfortable with providing personal data to brands in order to receive a personalised experience and seamless customer journey. However, recent news that Uber concealed a data breach affecting 57 million users and drivers for a year, demonstrates the rapid mistrust a brand can generate when it doesn’t adequately protect this data, […]
The size limitations of the Australian domestic market mean that in particular sectors, small businesses struggle to achieve their growth potential. For many small businesses, these limitations can be resolved by tapping into much larger foreign markets that offer greater opportunities. The beauty industry in Australia is a good example. This market is a […]
Amazon’s recent Australian launch received a lukewarm reception, with average prices and faster shipping being the only apparent selling points. What you can’t see though is that their competitive advantage is behind-the-scenes of its website. Amazon embraces testing and experimentation, otherwise known as Conversion Rate Optimisation (CRO). Amazon succeeds where other online retailers fail because […]
There’s a common misconception in the small business world that being your own boss means you sacrifice a healthy work/life balance. While putting in extra hours can be important, particularly in the early stages of your journey, there are certain tricks and systems you can put in place to ensure your business will thrive in […]
Seven companies have become the nation’s first crowd-sourced funding (CSF) intermediaries after receiving Australian Financial Services (AFS) licenses from the Australian Securities and Investments Commission (ASIC). Under the CSF framework, which commenced in September 2017, Big Start, Billfolda, Birchal Financial Services, Equitise, Global Funding Partners, IQX Investment Services and On-Market Bookbuilds have been authorised to […]
A new year often gives business owners time to reflect on how to do things better in their organisation. What if the answer was: self-care for the boss (you)? ‘Busy’ is a common state for many business owners, but with great activity comes great responsibility – not just to ensure your staff are well looked […]
As anyone who starts a business will tell you, the time and effort required to move from startup to sustainable small business is intense and as a founder you’re always juggling roles and priorities. In this process. you also usually work out where your time is best spent and the need for delegation in order to […]
Technology’s domination of the working world is all but complete. Recent data from the Australian Bureau of Statistics[1] (ABS) revealed the number of people working in the IT industry has soared by 20 per cent in the last five years. And it is no surprise that the local tech industry recently made to the global […]
The Institute of Public Accountants (IPA) has called for the Federal Government to improve the financial outlook of SMEs by introducing a loan guarantee scheme and legislating maximum payment times for business-to-business transactions. In its 2018 pre-Budget submission, the IPA – a professional accounting body representing 35,000 accountants, business advisers, academics and students – made […]
Microsoft Excel enjoys global superiority as the go to electronic spreadsheet for financial management and data collation. This status is well deserved as the business application has given in excess of 30 years of admirable and loyal service in helping companies track, forecast, analyse, and manipulate a wide range of business data. Despite its excellent […]
In today’s Australian workplace, employers are increasingly asking workers to do more, with less. This increased demand is ubiquitous and is readily accepted as the norm, so it may be surprising to many business leaders, and their employees, that the pressure to overachieve is creating an epidemic of poor work performance. Across Australian businesses, the […]
RBA data reveals the average interest on small business loans is the lowest it has been since at least 1993, with owners paying $9 billion less than they were six years ago, according to the Australian Bankers’ Association (ABA). Noting that small businesses are a significant driver of the economy, ABA Chief Economist Tony Pearson […]
Most businesses rely on referral leads or leads who are already in ‘buy-mode’. Those people are just a tiny 3% of your target market. So how do you tap into the other 97% of prospects? Using two tools: a lead generation website and a well-oiled, high converting sales funnel. Most businesses’ websites are just sources of […]
If you’re a carpenter, you probably work for yourself. If you’re like most carpenters, you do much of your work onsite for a builder. As well as this, you may do small projects for individual customers on the side. Since you work for yourself, you own and are responsible for the most important assets you […]
In the dynamic modern economy, business conditions change overnight and what worked today may not work tomorrow. That’s why it has never been more important for companies to be agile, flexible and willing to implement decisive action when required. However, you can’t achieve that without strong employee engagement. According to Gartner, 70 per cent of […]
In 2017, we’ve witnessed numerous Customer Experience (CX) failures that have damaged the reputations of some of the largest companies in the world. From long call waiting times after a number of severe outages, to poor customer service ratings, and other critical service failures, there are a number of lessons to be learned if brands […]
A cabinet reshuffle has been announced by Prime Minister, with Michaelia Cash named Minister for Jobs and Innovation, and Craig Laundy promoted to Minister for Small and Family Business, Workplaces and Deregulation. Cash, formerly the Minister for Employment and Women, assumes responsibility for a new portfolio focused on jobs creation as part of her reassignment. […]
The summer holidays are quite often the only time of year when business owners have the freedom to think about their business without getting caught up in the day-to-day running of it. Following a reflection on the year that was, thoughts usually turn to how to grow and develop the business during the forthcoming year. If […]
SME operators not only predict a lack of sales over the Christmas retail period, they also expect to be short on spare time, according to MYOB. The cloud accounting provider’s latest SME snapshot reveals that business confidence is down due to the threat of bigger and online retailers entering the market from overseas. The majority […]
