#Competition
Let’s Talk – If you can’t beat them: Can partnering up with rivals help business?
Are there benefits to holding back a business rivalry in favour of a partnership? Perhaps a ‘you scratch my back and I’ll scratch yours’ angle could play a strong hand in boosting your business growth?
Why competition is killing your business
Byline: Wendy Born Any kind of competition within an organisation limits the ability for that organisation to reach its full potential. There is no place for competition within the confines of a team, function or company. Competition should be kept to external competitors as this provides the consumer with the best possible outcome, market conditions. […]
Digital grants amongst recommendations to help SMEs against overseas, online competitors
A parliamentary committee chaired by ex-Deputy PM Barnaby Joyce has made six recommendations to the Federal Government to help small businesses compete against overseas, internet-based firms marketing to Australian consumers. In its report into the impact of global, internet-based competition on local businesses, the Innovation, Industry, Science and Resources Committee recommended the creation of a […]
Australia’s Competition law penalties may be too low to sufficiently deter breaches: report
The OECD has found that penalties for competition law breaches are ‘significantly lower’ in Australia than in comparable OECD jurisdictions, prompting the nation’s competition regulator to announce it will rethink its approach to competition law enforcement. The OECD report, Pecuniary Penalties for Competition Law Infringements in Australia(link is external) compared the penalties for companies which breach […]
How to work out what price to charge
The price that is set for products and services is one of the most crucial decisions business owners and managers must make in a business. Entrepreneurs, new businesses and small business often give too little thought to this highly complex matter and the consequences can be dire. Pricing requires thought and an understanding of the […]
Amazon a ‘worthy opponent’ for retailers but can’t offer ‘retail as entertainment,’ says NRA
With Amazon having its soft launch in Australia, today, Dynamic Business spoke with Dominique Lamb, the CEO of the National Retail Association (NRA) who admitted the ecommerce giant was a ‘worthy opponent’ for local retailers but one that can’t satisfy demand for ‘retail as entertainment’. [Related: Let’s Talk… Ecommerce and If you can’t beat them, join […]
Competition law reforms now in effect will level the playing field for small businesses
Reforms to the Competition and Consumer Act 2010, which took effect this week, will level the playing field between small and big businesses while providing consumers with increased choice and better services in the market place, according to Small Business Michael McCormack. Commenting on the commencement of the Competition and Consumer Amendment (Competition Policy Review) […]
How to master risk management in an SME
Every business owner understands that the rewards of running their own company are immeasurable, but the tradeoff is that you also bear the brunt of the consequences if things go wrong. This is why it’s important to have a risk management plan in place. Having a strategy for the common pain points that your business […]
Soaring electricity costs putting SMEs under ‘unacceptable pressure’, ACCC inquiry finds
Rising electricity costs over the past decade are a “drain on business productivity,” according to the Australian Competition and Consumer Commission’s inquiry into the national electricity market. The commission’s preliminary report into retail electricity pricing highlights concerns about the operation of the National Electricity Market, which pose an “electricity affordability problem” for consumers and businesses. […]
The new pricing paradigm: the CEO of Oneflare on why going in low is not the smart move
There’s a misconception among business owners that customers consider price to be the key factor when selecting a business online. Yet, our research is conclusive – fewer than 1 in 5 customers will choose the lowest priced quote when selecting a business. Today, more businesses than ever attract new customers through digital means – a […]
‘Digital by default’ millennials are the most optimistic SME owners, NAB whitepaper shows
Amongst Australia’s SME owners, millennials are not only more optimistic about the future, they are also more likely to expand their business in the near future, according to a new whitepaper from NAB. Titled The Moments That Matter: Understanding Australian SMEs, the whitepaper reports on qualitative and quantitative research undertaken by IPSOS on behalf of […]
Competition reforms introduced to improve the bargaining power of small business
Competition reforms tabled in Federal Parliament this week backs small businesses to grow, innovate and create more jobs, according to Small Business Minister Michael McCormack. He said the Competition and Consumer Amendment (Competition Policy Review) Bill 2017 implements a number of recommendations from a landmark review of Australian competition policy to help small businesses to compete […]
Six rookie mistakes to avoid in e-commerce
Usually, the first couple of years in business are an exercise in trial and error. Running an e-commerce business, though easier and cheaper to set up, is no different. Note: This article is the seventh in a multi-part series by Chris Dahl, providing guidance on setting up an ecommerce business. Read the rest: Ecommerce success begins […]
We’ve punched above our weight without going head to head with big players: Holocentric CEO
Home-grown Business Management Systems (BMS) provider, Holocentric has outbid larger international companies for tenders in Australia by harnessing the strengths of being a smaller operation and eliminating, where possible, the need to go head-to-head with better-resourced competitors, according to its CEO, Bruce Nixon. The tech company, which has offices in Sydney and Canberra, has worked […]
Cultivate entrepreneurialism, stay small as you go big: Pawl Cubbin on competitive advantage
Want to compete with the multinationals but worried ‘going big’ will kill the creative spirit driving your business? According to Pawl Cubbin, founder and CEO of independent creative network ZOO Group, you can punch above your weight by cultivating a culture of entrepreneurialism, getting your core team right and learning from different business models. In […]
Differentiating in a crowded aged care market
How do you differentiate your business in a crowded market whilst competing with larger, ‘powerhouse’ organisations? This is a question facing smaller operators in the aged care industry. There’s no doubt, with the ageing population in Australia increasing as rapidly as it is, the aged care industry is in turn growing with no signs of slowing down. In […]
Is competition actually good for SMEs?
Spending too much time sussing out the competition can be a distraction, but when I do, the insights are often important to my SME and my direction as a leader and innovator. This information is occasionally acted upon or at a minimum, it influences my thinking, my team and my business. In a world where the focus is increasingly on collaboration rather […]
Why you need to create a culture of courage in your business
Earlier this year the World Economic Forum published its Future Jobs Report and the research listed ‘complex problem solving’, ‘critical thinking’ and ‘creativity’ as the most valuable skills for 2020. Nurturing these skills will enable your business to adapt and thrive in an era of unprecedented fast paced disruption. Here are several behaviours you can […]
5 Time Wasting Habits of Start Up Business Owners
There’s no doubt that starting a new business is an exciting time, however it can also be very stressful. You don’t yet know if the concept will work, you are pouring money into your dream and you are forgoing hours where you could be earning money working for someone else. Furthermore, you often work much […]
Key tips for growing a franchise business by Anytime Fitness CEO, Arthur McColl
The Australian market has recently seen an untraditional wave of franchise business models, allowing companies to enter the market quickly with low set up costs, and grow rapidly within just a few years. One of the key players here is the ‘low staff’ business model, used widely across the health and fitness industry with the […]
Competition concerns in online travel agency market
The Australian Competition and Consumer Commission (ACCC) is calling for operators of accommodation businesses to voice their concerns about the online travel agency supermarket. The ACCC has launched a questionnaire in order to re-examine the level of competition in the online travel agency market following concerns over a general lack of competition. The Accommodation Association […]
7 laws to master networking
Dr John Demartini shares how to create more business leads than you could ever follow up on, by mastering the art of networking.
Value exchange: the rapid growth of the intellectual transaction and skills as currency
Competition is no longer linear. The ‘unknown unknowns’ are waiting around every corner. Every industry, every sector, is suffering from the competitor they didn’t realize they had.
Competition Policy Review Panel’s final report released
Touted as the most significant review in 20 years, the report from a panel led by Professor Ian Harper puts forth several recommendations to create more favourable conditions for the small business players in Australia.