Small Business
Small business operators have been described as “the forgotten people in Australia’s energy crisis” by the Australian Small Business and Family Enterprise Ombudsman, Kate Carnell. According to the Ombudsman, high energy users such as manufacturers and hospitality businesses, are “casualties of a failed system”. “It makes sense for heavy users to negotiate long-term contracts, […]
There has been a lot of talk about changes to credit card rewards programs in 2017. You might even have received a notification from your bank recently about how your rewards program is about to change. This is because of new interchange fee regulations that rolled out from 1 July 2017. In 2016, the Reserve […]
Most businesses need to deal with a bit of competition while many strive to stand out from the crowd. While business ethics classes touch upon employer and employee behavior, a number of business owners and workers struggle to project a good, consistent company image. Stay Off Social Media Many businesses use social media in a […]
Having an idea for a business is the start of what can be a very exciting journey, although in truth it may feel more like a rollercoaster ride at times. In particular, coming up with the funds to get the company off the ground at a time when money is tight can be challenging. Having […]
Many SMB owners think that that debt management is frustrating, repetitive and even awkward, but it doesn’t have to be. When approached with professionalism and a clear plan of attack, the right debt strategy could save weeks’ worth of work per year, while also doubling or tripling working capital. So, why isn’t everyone doing a […]
Last year, one of my colleagues built two semi-detached houses, wanting to sell one. His question to me was: How do I sell it to a Chinese buyer? There’s an implied understanding in that question that Chinese buyers will pay a premium to acquire a property. Besides possible higher premiums, the other reason to target […]
Many international travellers were recently shocked to hear that several airlines had put in place a laptop ban that was enforced by the US and UK governments on certain international flight routes. Some officials announced that any electronic devices larger than a mobile phone would be prohibited on board a flight and would only be […]
Small to medium businesses often have it pretty tough when it comes to hiring, engaging, and retaining their employees. Large organisations and fast-growing, capital-infused startups can often outshine SMBs with their big budgets, epic offices, and big brand appeal. According to a survey by Robert Half, 60% of small business owners and management said that […]
Are you struggling to make ends meet? Do some customers take liberties and pay you weeks or months after you finish the work? Do you have a large outstanding debtor balance that just doesn’t seem to reduce? If you answer ‘yes’ to any of these questions then more often than not the answer to your […]
The Australian Competition & Consumer Commission (ACCC) is urging small business owners to prepare themselves for the excessive payment surcharge ban that will apply to all businesses from 1 September 2017. The new law limits the amount that a business can charge customers for use of payment methods such as EFTPOS (debit and prepaid), MasterCard […]
In this age of social media and instant communication, customers share their experiences broadly, especially if those experiences are negative. People vote with their feet, taking their business elsewhere based on the comments of friends, peers, and even strangers online. Businesses therefore need to understand that the customer experience is critical to financial success. The […]
It’s time to talk about spreadsheets. Or, as one financial modeling company called them, capitalism’s dirty secret. What’s going on between the (spread)sheets to earn the decades-old business application such a sordid reputation? Mistakes. Costly ones. Almost nine in 10 spreadsheets (88%*) contain errors. Yet what do most businesses base their decision making on? Spreadsheets. Consider […]
Well known ride-sharing app, Uber, has been headlining publications globally as its company policies, CEO and business model are being called into question. Uber’s recent transgressions relating to sexual harassment, discrimination, unprofessionalism, bullying, employment structures and a toxic workplace culture in America challenge many Australian employment laws. The issues at hand allow Australian businesses, small […]
With all of the talk about artificial intelligence either stealing your job or revolutionising your industry, it’s easy to overlook something that can be revolutionary for your small business, right now. I’m talking about Marketing Automation. No, this doesn’t involve machine learning, natural language processing or algorithms. Instead, taking some fairly simple steps to implement […]
With winter well and truly kicking in, it’s that time of the year when people get particularly vigilant about their own health. And there’s always that one person in the office who, upon hearing the hint of a sniffle, finds the culprit and demands they go home immediately to protect the well-being of everyone else. […]
Data is arguably tomorrow’s most valuable resource. It gives us unprecedented access to copious amounts of information and insights, all with the potential to define trends and reshape thinking. It also has the potential to turn every industry on its head by unlocking new efficiencies, new business intelligence, and new ways of working. Unsurprisingly, one […]
Companies that sign-up to the voluntary Australian Supplier Payment Code commit to not only paying small business suppliers within thirty days of receiving a correct invoice but also helping them implement technologies and practices to speed up invoicing. The code is an initiative of the Business Council of Australia (BCA), which believes that it will […]
Two decisions of the Fair Work Commission took effect on weekend – An immediate 3.3% increase in the minimum wage; and a staged variation in penalty rates under the Hospitality, Fast Food, Retail and Pharmacy Awards. The decisions do not apply to people employed under enterprise agreements or in other sectors (eg nurses, police, paramedics, […]
An increasing number of small business owners will complete their tax returns themselves this year, according to research undertaken by cloud accounting provider MYOB. The company’s June SME Snapshot revealed that 41% of owners plan to complete their own returns, up from 41% last year. John Moss, MYOB’s chief strategy officer told Dynamic Business that […]
Supporting female entrepreneurs means physically breaking the glass ceiling with a jackhammer, not just talking about it, writes Christie Whitehill, founder of the Tech Ready Program. Female entrepreneurs are fighting back. Over the last 10 years and more, the global economy combined with the progress of technology has fostered an extremely healthy environment for entrepreneurs […]
