Is your business model as solid and future-proof as you think it is? Small businesses face a number of challenges in 2024, with the business environment, globalisation, technological change and difficult economic conditions all playing a part. So, is your business ready to pivot and embrace the future?Or could the viability of your business soon […]
Once you’ve built up a successful business, you’ll want to see a healthy return on this investment. But in today’s turbulent business environment, a once stable and profitable company can quickly decline and fail to grow, losing the hard-won value you’ve built up. If you’re a mature owner looking to retire in the near future, […]
Selling up and exiting the business is a major chapter in your business journey. But if you’re going to get the maximum return on investment (ROI), it’s vital to have an exit plan and to think seriously about how you add value to the business in the run-up to selling. Forward planning prior to a […]
Seasonal dips in income can be highly challenging when you’re a small business. But there are proactive ways to predict, plan for and overcome these dips in revenue. The key to dealing with seasonal dips is to know when they’re most likely to occur, and to have measures in place to spread your income and […]
We’re living through what the World Economic Forum has called ‘The Fourth Industrial Revolution’, and artificial intelligence (AI) is one of the formative technologies of this revolution. AI is no longer the stuff of science fiction. AI solutions and business tools are here right now, demonstrating new ways to operate, manage and staff your small […]
As part of ongoing reforms to improve financial well-being in Australia, payday superannuation payments are now becoming mandatory. This shift ensures that employees will receive their superannuation contributions from employers at the same time as their wages, instead of waiting for quarterly payments. Here’s what you need to know about this important change: What Is […]
Australia’s small businesses are the power behind our economy. Small businesses (employing less than 20 people) added nearly $590 billion of value in 2022, making up around a third of all Australian gross domestic product (GDP) for the period. But keeping on top of your financial management, accounting and tax planning can be a major […]
As an employer, it’s reasonable to expect that you can occasionally contact your employees outside of normal hours. When a project deadline is near, an unexpected issue comes up, or there’s an emergency situation, out-of-hours contact is a usual expectation. But in an increasingly online world, many employees feel like they are on a digital […]
A recent survey showed that 32 per cent of Australian businesses list increased operating costs among their top three concerns. And rising costs can have a significant impact on your cashflow and bottom line. So, what can you do to minimise the impact of sky-rocketing costs in your business? 7 ways to reduce your expenses […]
Running any kind of business is tough work. But when you add in the additional challenges of running a family business, things can begin to get complicated – and personal! In a family business, you’re not just dealing with professional relationships. You have close, personal relationships to factor in, alongside the nuanced dynamics of several […]