Business Update – 28 February 2024

Welcome to our Weekly Digest – stay in the know with recent news updates relevant to business and the economy. Employer audits to surge, ATO warns The ATO has warned businesses of an increase in employer audits, as it plans to double the number of audits for 2022. The surge is due to a focus on Super Guarantee (SG) compliance. The ATO emphasised the importance of businesses meeting their SG…  Read more

Your Phone Habits: Are they the key to your success?

Let’s talk about your phone habits. It may not be a pleasant topic to discuss, but it does matter. How you use your phone can have a huge impact on your life and on your business. Sounds dramatic? Not at all. These mini pocket-sized computers are with us all the time and the constant flow of notifications can interrupt our workflow incessantly. Your mobile habits significantly impact your concentration span.…  Read more

Business Update – 21 February 2024

Getting caught up on a week that got away? Here’s your Weekly Digest of some stories relevant to business and the economy. Big reason interest rates will be cut – and soon Rate cuts aren’t forecast until December 2024 but this prediction doesn’t tell the full story of what’s happening in Australia. Australia’s economy likely to slow until stage-three tax cuts, lower interest rates and easing inflation kick in, CBA…  Read more

The Power of Core Values in Business

As a business owner, you’re the architect of your business’s vision and culture. But in the hustle to develop products, chase sales, and keep the lights on, some of the foundation often gets lost in the mix. Core values—those guiding principles that shape your company’s identity—are more than just words on a wall or a statement in a handbook. These aren’t just buzzwords to sprinkle throughout your website – your…  Read more

Business Update – 14 February 2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Assistance for businesses affected by storms or floods The Australian government is offering financial aid to businesses affected by floods through various programs. Support includes concessional loans, grants, tax relief, and counseling services. The aim is to help businesses recover, rebuild, and sustain operations in the aftermath of the…  Read more

Is the 4-Day Work Week for You? Pros, Cons and Tips

When was the last time you felt that you had a week’s worth of energy to pour into just four days of work? As COVID-19 has reshaped our work-life balance and continues to redefine what is essential in our professional world, the concept of a shorter workweek is gaining traction. With proposed legislation in various states and countries, and the ongoing conversation among professionals, it’s evident that the discussion around…  Read more

Business Update – 7 February 2023

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Australian house prices poised for record surge in 2024, predicts Commonwealth Bank economist Australian homeowners may be in for a windfall this year as the country’s largest bank, the Commonwealth Bank of Australia (CBA), anticipates a significant surge in house prices. Belinda Moore, a senior economist at CBA, made the…  Read more

The key to growing your business: unlock new customers and markets

For a business to thrive and grow, it essentially needs two things: a strategic plan and an ability to continually find new customers and tap into promising markets. Here’s how you can do that. The untapped potential in existing markets Start by re-evaluating your existing customer base. Profiling them will help you to more accurately define who your target consumers are. Explore different distribution channels that could be more effective…  Read more

Stop putting off the little things

As a business owner, you often find yourself pulled in different directions by competing responsibilities. It can feel daunting to classify tasks and tackle the most time-consuming ones first. But why is it so hard for us to start – or even finish – seemingly insignificant tasks? Why do these tiny tasks become the bane of our existence, tempting us into procrastination limbo? Let’s explore why we get stuck on…  Read more

Business Update – 31 January 2024

Getting caught up on a week that got away? Here’s your weekly digest of some stories relevant to business and the economy. Data Privacy Day 2024: Aussies want transparency, businesses need action On Data Privacy Day, observed each year on January 28th, Australians and businesses are reminded of the vital importance of privacy. “Ironically, Data Privacy Day is a reminder that data privacy isn’t something a business can achieve in a…  Read more

Business Update – 24 January 2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. NAB CEO’s 2024 economic outlook NAB CEO Ross McEwan says Australia is well-placed to recover in 2024 as Australians respond quickly to sharp cost of living increases. Blockchain start-up backed by major banks collapses into liquidation owing $14 million An Australian blockchain start-up lauded as the future of banking…  Read more

Business Update – 17 January 2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. High chance’ of RBA achieving its goals in 2024: CBA Commonwealth Bank of Australia chief economist Stephen Halmarick has predicted that the central bank’s desired outcomes from increasing interest rates are likely to come to fruition this year. Australian capital city rents up 13% over year as further hikes…  Read more

How do I adapt my small business strategy in the midst of a cost of living crisis?

So, we’re officially in the thick of a cost of living crisis. This presents a challenge for entrepreneurs and is a nerve-wracking time for many small business owners. If you’ve had sleepless nights worrying about how you’re going to pay your suppliers or support your staff, you’re not alone. It’s likely you’ve already looked at where you can cut costs, but it seems like an impossible task when suppliers are…  Read more

Business Update – 10 January 2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Australia-India trade deal a win for exporters In December, Tim Ayres, Australia’s assistant trade minister, visited India to evaluate the advancements in the pact. The Economic Cooperation Trade Agreement, signed in April 2022 and effective from December 29, 2022, has already demonstrated positive outcomes. Australian economy predictions 2024: Grim…  Read more

Demystifying Inflation

Inflation – it’s a word that’s been on everyone’s lips recently. Rates are on the rise, and our small business community is feeling it the most. Increased supply costs, a lack of workforce, and dwindling profits are among the challenges faced.  Let’s demystify inflation and delve into its impact on small businesses. Grasping Inflation In essence, inflation is the uptick in the cost of goods and services. Whether it’s a…  Read more

What are your small business New Year resolutions?

The beginning of a new year is the perfect time to reflect on what’s working in your business, and to set some goals for the year ahead. As you kick back over the holidays, set aside some time to think about your recent achievements, and any current challenges. Think about your work style, too. If you’re like many small business owners, you may be guilty of bad habits that can…  Read more

Small business end-of-year planning tips

With the holiday season nearly upon us, it’s wise to set aside some time to tie up loose ends so you can start the new year fresh, organized, and ready to roll. As you prioritize “must-do’s” before taking some well-earned time off, consider adding these end-of-year business activities to your list. Connect with your clients The holidays are a time of shared goodwill—a natural time to reach out to your…  Read more

Business Update – 20 December 2023

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. House price growth ‘way better than expected’ as further rises expected in 2024 REA Group Economic Research Director Cameron Kusher says the growth in house prices has been “way better than expected” as it was predicted last year’s price falls would continue. According to NAB forecasts: Sydney, Melbourne, Brisbane…  Read more

The benefits of outsourcing for small businesses

For small businesses in today’s competitive market, outsourcing can offer a range of advantages. Not only does it reduce costs and free up valuable time for owners to focus on growing their business, but it also provides access to skills and expertise that may be unavailable in-house. By working with external professionals or firms who work in certain areas, small businesses have the opportunity to streamline operations, increase productivity and…  Read more

Business Update – 13 December 2023

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Australia’s GDP is going backwards We have now had three consecutive quarters of falling GDP on a per capita basis. That last happened 40 years ago during the 1982-83 recession. That is not good. And it doesn’t get any better when you break down what drove what little growth there…  Read more

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