Small Business
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 […]
Improvements in workplace and personal technology are enabling SMEs to operate with a more mobile workforce. According to IDC, in 2015, more than one third (37%) of the world’s workforce were considered “mobile” or of no fixed location. By 2020, IDC predicts a staggering 73% of the same workforce will be mobile. Most people today […]
Maintaining staff engagement and being aware of cultural sensitivities are crucial to success when an Australian SME opts for offshoring. People are the difference between success and failure in any business, never more so than if you are planning to use offshoring strategies. In today’s borderless marketplace, small businesses have an opportunity to sell their products […]
It’s a tough time for retail sales, with Australian Bureau of Statistics (ABS) data showing this key driver of economic growth is stalling. Traditional sales tactics are becoming less effective due to the wealth of information freely available to people today and, thus, the rise of the savvy consumer. Trends globally echo this sentiment, with 57% of retailers agreeing buyers are less […]
Let’s not be cliché and use the line, “clothes make the man.” Choosing what to wear in a presentation wasn’t always this hard. Previously, a suit and tie were enough – coat optional. But with so many styles and preferences nowadays, striking the perfect balance to please an audience is proving to be more and more […]
Jackie McArthur from logistics service provider Martin Brower was named the ‘NSW Business Woman of the Year’ at the 2016 Telstra NSW Business Women’s Awards, held in Sydney last night. McArthur is the Managing Director ANZ for Martin Brower, where she supervises the end-to-end logistics and supply chain for more than 1,100 McDonald’s restaurants. She […]
GetCapital, a local fintech lender to SMEs, has entered into a strategic partnership that enables it to service the New Zealand market. Jamie Osborn, GetCapital’s founder and CEO, said the expansion into New Zealand was the ‘next logical step’ for the company given its success in Australia. “With the large number of SMEs in […]
Proposed tax rate changes, which would affect approximately 100,000 small businesses, will deliver the best “bang for buck” for the economy, accounting software provider MYOB and the Council of Small Business Australia said in a joint statement. The statement was in response to Labor’s opposition to the Federal Government’s proposal to increase the eligibility threshold for paying the lower […]
If your business relies on shipping goods into or out of the country, the recent upheaval in the container shipping market would have taken its toll. Trying to forecast company profits and losses while shipping costs are so uncertain can make it difficult for any business owner to keep a tight rein on expenditure. Behind […]
When I say ‘stop selling like a dinosaur’, I’m referring to the old school approach of promoting your business – think letter box drops, lead boxes, door knocking. This scattergun approach tends to take up at lot of time and result in a low conversion. These days there are many more effective ways for you […]
There’s a big promise associated with any team: that by bringing together a group of talented people, so much more is possible. Better ideas, stronger performance, greater endurance, more fun. (Perhaps you’ve heard the cute line that the word TEAM stands for “together everyone achieves more”?) But teams also face a challenge: each of its talented, […]
Businesses will fall behind in the innovation stakes unless they buck the status quo and strive for greater gender equality, attendees at a recent forum were warned. Last month, the Australia-Israel Chamber of Commerce hosted a media briefing at Sydney’s Shangri-La Hotel. The event saw Lynn Kraus, Managing Partner, Sydney & Oceania Markets, EY moderate a panel discussion on diversity. The […]
Since the turn of the millennium, the face of manufacturing has changed. In the buildup to the Financial Crisis in 2008 and for a period afterward, technology played an important role in many businesses’ decision to outsource jobs overseas. Now, technology is helping to reshape manufacturing once again, both today and in the future. Many […]
You know about driverless cars. The technology is well into advanced testing stages, and most technology gurus predict that they will be a feature of life, if not in the next ten years, then certainly before the end of the century. But what about crewless ships? We don’t hear much about them, but designers are […]
Succeeding in business today doesn’t just require good talent – it requires great talent. It also requires great products, a smart strategy and an internal desire to innovate and thus stay ahead of the competition. But let’s focus our attention back on talent. After all, it’s one of the most important components of business today and all around us we […]
