Small Business
Melbourne Cup Day is known as the race that stops a nation. While it’s a public holiday only in Victoria, Australians around the country take the afternoon off to socialise with friends and colleagues. They participate in office sweeps and bet directly on the race and many enjoy a long lunch. It’s such an iconic […]
As the war for talent intensifies, small businesses may find themselves on the losing end if they insist on rigid recruitment standards, according to Paul Wolfe, senior vice president of HR at employment-related search engine Indeed. Wolfe, who has served as a VP and SVP at a number of well-known companies including Match.com, Orbitz, Conde Nast and Ticketmaster, […]
As we head into the last stretch of the year before the holiday period, your HR focus is probably on the end of year festivities; ensuring employees are on their best behaviour from the boardroom to the bar. The new year is a great time to introduce new habits, or break old ones and as […]
There’s a huge disparity in the use of marketing automation software between large corporations (60%) and small to medium businesses (10%)*. According to Kraig Swensrud, CMO of email marketing start-up Campaign Monitor, the cost and complexity of all-in-one marketing suites, designed for the ‘big end of town’, have typically been barriers to SMBs seeking greater marketing efficiencies. […]
New research by MYOB highlighting the financial and emotional toll late customer payments are having on SME owners has prompted the cloud accounting provider to renew calls for federal government and big business to implement a solution. The company’s latest SME Snapshot, revealed 77% of business owners had been impacted by late payments. Notably, 35% […]
Small businesses often have specific financing needs and may require funding support to compete in international markets or to fulfil export-related supply chain contracts. For businesses trying to navigate that next growth phase into an overseas market, there are a number of differences between exporting and operating in Australia which will have an impact on […]
Visibility into working capital is essential to manage cash flow and ensure a business can remain sustainable, yet research shows that companies frequently miss quarterly working capital forecasts by up to 23%.[1] Organisations must address this inaccuracy as a matter of urgency, as working capital is a measure of the operating liquidity of an organisation […]
Australian businesses are facing an uphill battle when it comes to recruitment and retaining the best talent. A recent Robert Half report revealed a key challenge, with the majority (57%) of HR managers missing out on qualified candidates because of lengthy hiring processes. While recruiting the right talent is difficult, retaining talent is the next battle. […]
By seeking out ‘smart capital’, as distinct from seed funding, early stage SMEs can enhance their business acumen, avoid unnecessary start-up mistakes and increase their appeal to prospective investors, according to Kylie Hammond, founder and CEO of Director Institute. “Smart capital is money from an individual or group of individuals who can, by sitting on an […]
Saying ‘no’ doesn’t come naturally to many, particularly when you have your own business. It’s often tempting to say ‘yes’ to every opportunity that comes your way, in an attempt to drive growth. But knowing when and what to say ‘no’ to, and how to be tactful about it, can actually make you a better […]
Recent research from Griffith University’s Asia-Pacific Centre for Franchising Excellence shows there are an estimated 70,700 business format franchised units in Australia. That’s thousands of Australians enjoying a rewarding and fulfilling career in franchising. Although franchising can sound like an attractive proposition with significant financial and lifestyle benefits, it’s not the right fit for everyone. Before […]
A multi-billion dollar NASDAQ-listed company has purchased Fonebox from founder and chief executive Jordan Grives for a reported $30 million. The deal with J2 Global means Grives, who started Fonebox in 2008 when he was 18, will continue with the Brisbane-based telecommunication company along with his 80 staff. He is also stablishing his own venture capital fund, Capital J Investments. “I see my […]
With over 710 million Internet users and 448 million online shoppers, China has the world’s largest Internet population and also the largest eCommerce market. Moreover, the country’s affluent middle class is growing, as is disposable income, and consumers are looking abroad for premium goods and services. With a presence in Beijing and Sydney, Aussie tech […]
The Australian shopping experience has evolved dramatically over the last decade. Emerging global high street outlets vie for space among newly expanded independent retailers as each offer unique products and services to towns and cities. At the same time, online retail has experienced a boom; widely adopted by business owners and shoppers alike. Despite the […]
The ability to hire the right staff can make or break an entire operation. Consider this: the Australian Human Resources Institute (AHRI) estimates staff turnover costs businesses up to $20 billion a year in Australia and it has also been predicted that as much as 80% of staff turnover is due to bad hiring decisions. Here are some of […]
Within the next decade, global trade and logistics could be virtually unrecognisable from what we see today. Digital and physical disruption will change the way customers and suppliers connect, and the way supply chains are managed. The barriers to entry to global trade are being torn down, and technological advances across the value chain are […]
Monitoring cash flow should be your number one priority if you are a business owner. After all, cash is king. Part of this process involves having careful control of debtors. For anyone that has experienced periods of tight monetary control, you know how critical this is in tough times. Outlined below are key points on how to ensure […]
Disruption has become ‘business as usual’ in many markets and, as such, it is necessary for entrepreneurs to adopt a disruptive mindset. Disruption is forcing business leaders to act quickly and decisively to remain relevant in their industry or to leverage new market opportunities. All change, regardless of what level it occurs at, is fundamentally disruptive to an […]
Very small businesses in Australia are not typically bullish when it comes to growth and they are content with their size, according to new research from SMB tech provider GoDaddy. Modest ambitions, however, weren’t a sign of meekness; rather, GoDaddy found many operators are driven by flexible lifestyle – not profits – and would ‘get […]
Businesses with 19 or fewer employees have less than two weeks to transition to SuperStream – the new, mandatory electronic standard for paying superannuation contributions. “The Australian Taxation Office (ATO) is pleased that more than 75 per cent of small businesses are already SuperStream compliant however, there is still a way to go to ensure […]
