Small Business
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 […]
If proof was ever needed that Aussies are rookies in romance, an analysis of retail data by Square has revealed the typical consumer spends more on their mums for mother’s day than they spend on their Valentine. The global payment technology company found that not only do Aussies purchase 60% more flowers on Mother’s Day, the average national spend on […]
The national intellectual property agency has introduced world-leading trade mark image recognition technology to make it easier for Australia’s small businesses and entrepreneurs to protect their logos and brands. The technology has been incorporated into IP Australia’s new Australian Trademark Search Tool to make the process of searching for similar logos simpler and faster for […]
1266% revenue growth. Business sale ROI of 10 x the purchase value. $1.25m profit. Yield growth of 293%. These are numbers many small to medium business owners could only dream about. However, it’s what one business, Cleanawater, achieved in just 5 years. How did they do it? By investing 6.56% of the business’ turnover into […]
Purchasing an established healthcare practice could help secure a medical practitioner’s financial future. It’s not uncommon for business-minded practitioners to look at setting up their own practice once they feel they have secured a firm list of clientele. However, few consider the option of buying into an established practice – given the right circumstances, this option can yield the best outcome […]
