#American Express
Consumers increasingly spending with large businesses as SMEs lag behind in the tech stakes
Australia’s small businesses have been slow to leverage technology that would improve the customer service experience even though consumers are increasingly turning to large organisations to satisfy their spending needs, according to Katrina Konstas, Vice President Small Merchant JAPA, American Express. Konstas spoke with Dynamic Business about findings from American Express’ Economy of Shopping Small: […]
Excessive payment surcharge ban now in effect; consumer advocate encourages no surcharges
All businesses across Australia are now banned from hitting customers with excessive surcharges for using certain types of EFTPOS, Mastercard, Visa and American Express cards to make payments. The excessive surcharging ban has applied to large businesses since September last year and now extends to all businesses that are either based in Australia or use […]
New interchange fee regs: is your business credit card still rewarding your spending?
There has been a lot of talk about changes to credit card rewards programs in 2017. You might even have received a notification from your bank recently about how your rewards program is about to change. This is because of new interchange fee regulations that rolled out from 1 July 2017. In 2016, the Reserve […]
Small businesses urged to prepare now for forthcoming excessive payment surcharge ban
The Australian Competition & Consumer Commission (ACCC) is urging small business owners to prepare themselves for the excessive payment surcharge ban that will apply to all businesses from 1 September 2017. The new law limits the amount that a business can charge customers for use of payment methods such as EFTPOS (debit and prepaid), MasterCard […]
Late payment research from Amex and Xero highlights the cashflow burden for SMEs
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, […]
Credit card fee changes could devalue reward schemes used by SMEs, warns American Express
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 […]
‘Tried and true’ cash flow methods costing businesses $6.12b in growth opportunities
Australia’s mid-size businesses are missing out on $6.12 billion in growth opportunities annually due insufficient or variable cash flow, according to new research from American Express. The company’s new report, Behind the balance sheet: unlocking hidden value in credit, involved a survey of 355 Chief Financial Officers from companies with annual revenue values between $2 […]
B2B transactions in Australia’s small business ecosystem worth $204 billion, report suggests
New research suggests transactions between small businesses in Australia are worth $204 billion per year. Commissioned by American Express in support of Shop Small Month, which ends 30 November, The Economy of Shopping Small: Custom Counts report reveals small businesses in Australia source goods and services from 4.4 other small suppliers each month, with an average monthly spend […]
Social media feedback falling on deaf ears
Given there are dozens of popular review websites for every type of business, you could be forgiven for thinking that consumers wield more power than ever when it comes to online feedback.
SMBs prefer cleaning the office fridge to tax reporting
With June 30 closing in, experts warn thousands of business owners may miss out on tax concessions and run of the risk of paying too much tax as EOFY confusion continues to reign.
Socially savvy SMBs enjoying improved customer relationships
Over 70 percent of small business owners who’ve embraced social media believe it has been a success and led to better customer relationships, according to a new survey.
Female business owners driving social media uptake
Female business owners are leading the SME social media revolution, as their male counterparts fall behind in embracing and investing in these new channels.
Adaptable SMEs enjoy financial rewards
Changing market conditions mean small business owners need to be more adaptable, and a survey has found those that manage this are enjoying greater financial rewards.
American Express teams with Servcorp to deliver flexible office access
American Express has partnered with Servcorp to give its Business Charge Cardmembers access to office facilities nationally as well as a network of premier office locations around the world.
Cashflow continues to hurt SMBs
Small business owners are seeking more cashflow advice than any other business assistance, according to an American Express study.
Consumers trend towards local small businesses
Small local retailers are the beneficiaries of a new consumer trend towards increasing support for locally owned and operated stores and producers.
Cash and cheques ‘dead’ to small business
Cash and cheques are almost extinct as tools of commerce among small to medium size businesses, with credit cards and electronic transactions now the norm according to survey of Australian SMEs.
Online travel sites not cheaper for business travel?
Online travel sites and discount flight aggregators may not be the cheapest option for business travellers if the latest research from The Online Travel Benchmarking Group holds true.
Small business owners overwhelmed by tax burden
Australian small business owners feel overwhelmed by financial reporting obligations, according to a new study by American Express out today.