Small Business
The price that you set for your products and services is one of the most crucial decisions you have to make in a business. Pricing requires thought and an understanding of your customers or clients, the market, the environment and your competitors. Here are four pricing mistakes you need to avoid: One: The first mistake […]
An analysis of the Fair Work Commission 2016-17* report reveals an employer was hit with an unfair dismissal claim every three and a half minutes last financial year, according to Employsure. The workplace relations specialist also found that employers lost 60% of the 14,135 unfair dismissal applications brought against them in 2016-17. Commenting on the finding, Ed […]
For small and medium businesses (SMEs) that want to take on new export opportunities, understanding your business’ working capital position is critical. Working with the right financial partner can be the key to driving your export success. Accountants and financial advisors continue to be a key support channel for SMEs that are looking to build […]
AI is already being used in businesses. At the risk of sounding like an automated voice that just repeats back facts, consider these statistics that build a case for the need to incorporate AI. A recent survey showed that about 80% of businesses in the US plan to incorporate chat bots into their business by 2020. […]
Half of Australia’s small businesses not only lack an action plan to address workplace bullying, they don’t understand the legal requirements, according research undertaken by workplace relations specialist Employsure. Conducted by Galaxy Research on behalf of Employsure, the Workplace Safety Index also found that amongst businesses with between two and four employees, only 40% know […]
By connecting their physical and digital stores, businesses can give their customers a more seamless shopping experience; however, this ‘omnichannel’ approach also facilitates better inventory management. Having real-time visibility of your inventory across all sales channels means less chance of overselling, better forecasting, and less hassle for staff. Let’s backtrack quickly – what is omnichannel? […]
All small to medium business owners have been there. The point where they find themselves wearing multiple hats due to a lack of resources. They are not only the owner, but also the sales person, the marketing person, the human resources person, and IT support. This frequently leaves business owners stretched thin, to the point […]
For organisations, big or small, accusations of sexual harassment are alarming. With the current press surrounding the allegations of sexual harassment made against Harvey Weinstein, businesses world-wide should reflect on their own internal policies and how they would deal with allegations of this nature. In Australia, we have an abundance of laws protecting employees from […]
A 7-Eleven Franchisee in Brisbane is facing court for allegedly dismissing a worker by removing him from the roster after he refused his employer’s request to repay an amount he had been paid. Balaji Australia Pty Ltd and current director and shareholder Madhav Ponnada will also face the Federal Circuit Court on allegations that false […]
Stating that small business subcontractors are vulnerable to delayed payments, the Australian Small Business and Family Enterprise Ombudsman, Kate Carnell has announced she is examining payment terms and conditions for “subbies” working on government projects. “Most government departments pay their invoices within 30 days, but when a prime contractor is appointed to manage a project […]
Every small business understands the key to growth lies in its people – the driving force. By hiring the best talent, small businesses know they can become much larger businesses by outperforming their competitors and pouncing on new opportunities the moment they arise. Sounds like a straightforward growth strategy but, it turns out, it’s not […]
Research showing that SMEs are reducing capital expenditure due to rising energy prices has prompted criticism of the state governments by the Australian Small Business and Family Enterprise Ombudsman. The Ombudsman, Kate Carnell, pointed to the latest East & Partners SME survey* of 1280 businesses, which showed that 39.5% of SMES plan to scale back […]
Think about your most recent interaction with a business online. Did you chat via message with a person? Are you sure? It’s highly possible you were speaking to a chatbot, a computer program designed to interact with customers using messaging apps and online interfaces. These bots use artificial intelligence to create fast, efficient and helpful customer […]
It’s the web where most travellers are booking hotel rooms these days and, if you’re looking to seize a slice of the online market, that’s exactly where you should be. However, you should note that you’re going up against lots of competition. Not just individual hotels, but chains and booking agencies all looking to get […]
In an age where digital content is king, it is understandable that small businesses are struggling to keep up with what has become a fragmented narration of brand content. With 1.6 billion people on social media channels sharing their personal experiences and opinions online, the e-commerce business can be an overwhelming marketplace of products. For […]
If your employees are like most Australians, they work fairly long hours. But you can’t assume that just because they’ re working more, more work is getting done. Long hours might mean they love what they do and want to give it their all . Or it could mean their day is full of productivity […]
National Australia Bank’s decision to introduce shorter, plain English loan contracts for small business borrowers has been welcomed by the Australian Small Business and Family Enterprise Ombudsman. According to the bank, more than 130,000 business owners will benefit from the complete overhaul of its existing business standard loan form contract, which involved simplifying contractual clauses, […]
Do you produce your best work when you have the flu? I didn’t think so. When your body is worn down, it makes it hard to stay focused and productive. The same thing goes for your mind. The stress of deadlines and client demands, the weight of starting up a business and the 24/7 commitment […]
Since its inception in December 2015, the China-Australia Free Trade Agreement has presented potential advantages for Australian businesses, including driving exports. Between 2015 and 2016, more than 25 percent of total Australian exports went to China, earning Australia as much as AU $85.9 billion in revenue[1]. In 2015, the National Bureau of Statistics of China […]
The NSW Government has pledged to invest ‘at least’ $50 million in improvements to phone and data connectivity in rural and regional areas of the state. The $50m+ Connecting Country Communities fund was announced by Deputy Premier and Minister for Regional NSW John Barilaro, this week. “For people living in regional and remote NSW, poor mobile […]
