Small Business
Australians will feel the impact of the upcoming new credit card interchange regulations — we’re a nation of points junkies with 11 million Qantas Frequent Flyers * alone. But while everyone’s thinking about how the reverberations of these changes affect consumers, it’s easy to forget that new interchange rates raise a number of big questions […]
Attracting and retaining the next generation of leaders is an increasing challenge not limited to any one sector, due largely to Gen Y (aka millennials) having different expectations for their careers. Job loyalty is far less of a consideration for young workers, making it difficult to retain talent. In fact, 50% of Gen Y believe every job […]
With over 900,000 company cars on the roads in the UK alone, it’s clear to see that many businesses have an entire fleet of company cars for their employees as opposed to just a couple. Often provided as part of a benefits package, employees can expect a wide variety of advantages both in their working […]
Jobs for NSW seeks to help early-stage companies ‘left out in the cold’ by traditional lenders, including those crossing ‘the valley of death’, but there’s one thing it won’t do, according to CEO Karen Borg, and that’s give handouts to businesses that don’t have compelling job growth plans. Borg spoke to Dynamic Business about how […]
Determining the right marketing budget for your business can be difficult – it’s a fine balance between not spending enough and spending a lot more than you need to to be effective. The first thing you should do is look at your budget and how much you CAN afford to spend, before assigning numbers to different […]
As workforces become more and more geographically dispersed, organisations need to support ‘distributed collaboration’ (i.e. the ability for people to work together as a team remotely) to survive, according to Jeff Rodman, co-founder of multinational video collaboration company Polycom. Rodman told Dynamic Business that the impact of digital transformation, including the shift from away traditional […]
As a recruiter, I am surprised by the number of employers who are caught unawares when one of their staff quits to pursue a new job. There are many reasons why people change jobs but usually it’s because they feel they exhausted all opportunities in their current role, desire more money and/or want a new career path. […]
Great ideas often come from startups and small to medium enterprises (SMEs), but the difficult question is what to do next, and at what stage should intellectual property (IP) protection be considered? It’s important to devise an IP strategy of what to protect and when, and costs can be a factor. Luckily, not all […]
As part of its Businesses of Tomorrow program, Westpac has today recognised 200 ‘outstanding’ businesses, including 20 ‘high-potential’ organisations, that have “demonstrated a clear vision to shape Australia’s economy… as it transitions to a services and knowledge-based economy”. The 200 ‘Businesses of Tomorrow’, which have a collective turnover of approximately $2 billion per year and […]
Your brand is what sells your product. Brand management builds and maintains your brand’s reputation. Do your brand’s name, logo, and personality all reflect the identity you want to portray to consumers? Successful brand management will help to define and position your brand in the market, making you stand out from competitors and attract consumers. […]
As the financial year draws to a close and next year’s budgets are debated, there are plenty of ducks to get in a row before July 1 hits. While travel spend may not be front of mind, as CFOs we need to think differently (and strategically) about maximising time on the road and the costs […]
By employing a multi-channel strategy, creative types who aspire to run successful businesses they can self-manage can strike a balance between genuine customer connections and global reach, according to Linda Kozlowski, the COO of online marketplace Etsy. Kozlowski, formerly the COO of Evernote, told Dynamic Business that Etsy attracts hobbyists who want a creative […]
SMEs with revenues up to $50 million will have their tax rates cut after the Federal Government struck a deal with the Nick Xenophon Team (NXT) in the Senate on Friday. Under the deal, which will cost $5.2 billion over the next four years, the tax rate for businesses with turnovers up to $10 million […]
Innovation is an underappreciated word in the world of business. Small and medium enterprises are only considered innovators when they bring something new to the market. This parochial appreciation for the meaning of innovation often means SMEs overlook opportunities to innovate. For whilst ‘innovate’ means to introduce something new, it also means to make changes […]
Businesses that can gain visibility into expenditure, automate spend management and achieve effective governance of spending policies can achieve stronger cash flow. But, for many companies, getting a tighter grip on corporate spending can present a daunting challenge. For example, Concur’s recent ANZ spend management index found that, while 82 per cent of respondents have […]
Competition reforms tabled in Federal Parliament this week backs small businesses to grow, innovate and create more jobs, according to Small Business Minister Michael McCormack. He said the Competition and Consumer Amendment (Competition Policy Review) Bill 2017 implements a number of recommendations from a landmark review of Australian competition policy to help small businesses to compete […]
Coinciding with the anticipated release of the Small Business Ombudsman’s report on its inquiry into payment times and practices, American Express has released research showing mid-sized Australian businesses owe $8 billion in outstanding payments to suppliers, with more than $2 billion currently overdue. According to Martin Seward, VP, Small & Medium Enterprises at American Express Australia, […]
Imagine a world where you have a smart travel PA that follows you around wherever you go. You can chat in the car, via Skype, or through your smartphone in Slack at home and at work. It can help you book, cancel, change search and manage every aspect of business travel. But unlike your actual […]
“Go see, ask why, show respect.” The words of Toyota chairman Fujio Cho have become renowned as the basic lean principles on which to build and run a large business but what does this mean for small to medium-sized Australian businesses? The concept here revolves around the importance of business leaders getting up from their desks […]
The numbers are in and the news isn’t great for Australian small business owners. Research undertaken for the latest Scottish Pacific SME Growth Index * shows more than half of SMBs cite cash flow as a major barrier to growth (56%). Less than one in ten are content with their cash flow and around three-quarters of growing […]
