Small Business
Australian businesses are set to experience an increase in insolvencies this year as a result of another difficult economic year, according to the recently-published Atradius Economic Outlook. The likely 2% increase in insolvencies puts Australia in step with the UK and Canada. The improving trend in the business environment across Australia and other advanced economies is […]
The Fair Work Commission recently ruled that Sunday and public holiday penalty rates will be reduced for full-time and part-time workers in the hospitality, retail, pharmacy and fast-food industries. The Fair Work Commission heard evidence from 143 lay and expert witnesses during a prolonged period of deliberation. In addition 5,900 submissions were received from State […]
While China is Australia’s biggest export destination, it’s a notoriously tricky market to enter – even for multinationals. So, how do export-driven Australian SMEs form lasting connections with Chinese customers? Dynamic Business spoke to Joe McGuire, Global Head of Sales & Partnerships with Airwallex, a Melbourne fintech start-up specialising in cross-border payments. Dynamic Business: What […]
Fifty years ago, running a company was a much more predictable business. There was less competition and customers were generally content to make their purchasing choices based on what you had on offer. If you were a leader in your market, the odds were you’d still be leading the pack ten years hence. Today, executives […]
The vast majority of small business owners in Australia are navigating tough conditions with little or no support. While they know their business better than anyone, often they fail to tend to certain nagging issues because, well, they’re too busy; instead, they choose to reassure themselves their business model is strong and push on. If you are one of […]
The Fair Work Commission has today handed down its decision to reduce Sunday and public holiday penalty rates for hospitality and retail workers from July. The Full Bench decision was based on consideration of evidence that Sunday penalty rates in the Hospitality, Fast Food, Retail and Pharmacy Awards ‘do not provide a fair and relevant […]
New card payment regulations, which commence mid-year, could impact how SMEs conduct business but a majority have a limited understanding of the changes, American Express has warned. Card payment regulations announced by the Reserve Bank of Australia last year are due to come into force from July and will cap the fee that Visa, MasterCard and bank-issued American Express […]
The number of SME operators who believe the sharing economy is having a positive impact on their business far outnumber those who believe it is detrimental, according to cloud accounting provider MYOB Over 1000 SME operators from across Australia were survey for the bi-annual MYOB Business Monitor, which found that the franchise sector was the […]
In today’s digital age of data, social media and instant gratification, we desperately crave feedback. Whether in our personal or professional lives, feedback is king. Why do we need it? Essentially, to understand how we can be better – identifying and fixing problems and making improvements. Getting feedback when you’re a business is not […]
Running events is a great way for SMEs to meet and connect with customers. Sure, social media is a cool way to interact with your audience and spruik your business, but sometimes you need to log out of Facebook and have actual human interactions. Even in a tech-heavy age where smartphones are conveniently ubiquitous, nothing beats […]
In 1996, then Prime Minister Paul Keating proposed the 457 Temporary Skilled Employer Sponsored Visa program. The subsequent Howard government then oversaw the implementation of the scheme, which enabled Australia to catch up to the immigration programs of many other developed countries, and thus increase its participation in global trade. The program still exists today […]
The business landscape is constantly evolving due to the emergence of new technologies and trends as well as changes in consumer behaviour. Against this backdrop, the challenge for SME marketing teams is to remain both relevant and competitive, and so attract new customers while retaining existing ones. Here are five strategies marketers cannot afford to overlook in the pursuit […]
The days of the CFO sitting in the corner office counting beans are long gone. No longer just the most senior accountant, today we look to our finance leaders to embrace digital technologies and use data analytics to drive consistent and measurable growth for our business. Modern CFOs are increasingly expected to be key drivers of […]
“Motivation” is the snake oil of modern society. These days, it seems like every half-decent public speaker and author is shelling out advice on staying motivated, kicking goals and winning at life as though there’s a simple formula that the rest of us are too foolish to grasp. It’s not that simple. The Tony Robbins(s) […]
I’ve been a business mentor for a while now and yet it never ceases to amaze me how often company’s either ignore or underrate their database. From my own experience, I’m acutely aware of just how important it is for a company to maintain accurate and up-to-date intel on the people in their network. In my opinion, your company’s database […]
The Australian export market is buoyant, having grown by 4.2% in 2016, according to the latest figures from the Australian Bureau of Statistics. This is an excellent example of the hard work and innovation that is making Australian small businesses a global success. Yet small businesses still face a number of challenges before they grow successful […]
Commuting can be stressful. This twice-daily expedition has a way of ruining people’s moods, with motorists often displaying the highest levels of anxiety. Whether you’re on the road for an hour or 10 minutes, anyone who’s driven to and from work will know that commuting by car is no walk in the park – literally! […]
Temporary workers can serve a vital role for SMEs at various stages in the business lifecycle. They’re a boon for businesses requiring an extra set of hands to cope with busy work periods and for those needing to urgently cover absences due to, for instance, parental, sick or annual leave. They’re especially useful for start-ups looking to get up and running as […]
Big data has transformed the way business interact with their customers. Marketers can now harness data from previously untapped platforms, such as personal social media profiles and online and offline purchasing habits. The Internet of Things (IoT) is opening doors for companies to glean intelligence that enables them to enhance their offering down to their customers’ […]
The survival rate of unincorporated entities has declined since the third quarter of 2015, with the steepest drops experienced during the final three months of the past two calendar years. These findings are outlined in the latest Small Business Risk Review, conducted by CreditorWatch. The credit reporting bureau reviewed registered payment defaults and trade payment […]
