Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Australian house prices smash records, fully reversing 2022 lows Home buyers and sellers have expressed confidence in Australia’s housing market, leading to the full reversal of the most rapid decline in house prices in recent history. Five key changes to welfare and work rules in Labor’s employment white paper… Read more
As a business owner, it’s crucial to understand the power of social media marketing. Social media platforms provide an opportunity for businesses, no matter the size, to reach a larger audience, engage with potential customers, and drive sales. So, you’ve heard that your company needs to be on social media. Although this is true, it doesn’t mean your business is going to go from 0 to 100 overnight. Using social… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. ATO cracking down on tradies dodging the fringe benefits tax The Australian Tax Office is cracking down on tradies who are wrongly not paying fringe tax benefits for their vehicles. Treasurer Jim Chalmers gets to work on fresh jobs plan The government is set to get to work on… Read more
tarting a new business can be incredibly exciting, but it’s important to thoroughly evaluate your business idea before taking the plunge to ensure you’re creating a sustainable and successful venture. To get started, here are 9 questions to consider as part of an overall evaluation process. Save yourself money, time, and heartache down the line by investing a little time now. What customer problem does your business solve? Your business… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. The dream of business ownership is drifting out of reach for young Aussies In the past, starting a business was a young person’s golden ticket to financial independence. Today, however, for many young Australians, this dream is drifting out of reach. August unemployment rate remains firm at 3.7% The… Read more
As a business owner, the thought of selling your company can be quite daunting. You’ve poured your heart and soul into building it, and it’s crucial the company continues to grow even after your departure. An attractive option is selling your business to your employees, those who know your business inside and out and have a vested interest in its success. The upside of employee acquisition Selling your business to… Read more
Xero Beautiful Business Fund applications are now open! Xero recently announced the launch of the Xero Beautiful Business Fund. Itʼs their new initiative, backing small businesses for the future. What does this mean? Xero is offering more than NZ$750,000 in funding to Xero small business customers across Australia, Canada (excluding Quebec), New Zealand, Singapore, South Africa, the UK and the US. Applications for the fund are open til Oct 6… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Consumers opt for convenience and money-saving technologies amidst higher cost of living Budget-conscious Australians are redirecting funds towards essential goods and services or savings, and changing their shopping and spending habits in response to cost of living pressures, a new CommBank survey shows. Rethinking taxation for Australia’s future A… Read more
Even if you have outsourced your financial functions, as a small business owner, it is crucial to have a solid understanding of key financial concepts to work with your advisor and ‘speak their language”. This article outlines several important concepts that every small business owner should be familiar with. Basics of income and expenses As a small business owner, it’s important for you to understand how you generate and spend… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Australia’s inflation rate eased to 4.9% in July, down from 5.4% in June Australia’s inflation rate eased last month to its lowest level in 17 months, led by falling prices for fresh produce and automotive fuel, reducing the likelihood the Reserve Bank will need to raise interest rates again.… Read more
Assessing the viability of your new idea is an essential part of market research. While seeking input from friends and family is common, gathering information from the market itself can provide more accurate insights. Here are 4 effective research tactics to collect accurate information about your business idea: Harness the power of the internet Leverage the power of the internet to explore your chosen market. Investigate your main competitors, their… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Australia’s nervous watch for any great fall of China Economic troubles in China could hit Australian jobs and growth. Treasurer Jim Chalmers said the slump in China’s economy painted a worrying picture. Intergenerational report 2023: six key points for Australian businesses The latest Intergenerational Report has arrived, projecting what the… Read more
As a small business owner, you may be considering enabling a remote work environment. With the rise of technology and the pandemic shifting the way we work, managing a remote team has become a popular option for business owners looking for new and unique ways to grow their business. However, there are both benefits and drawbacks to consider before making the switch. We’ll start with the benefits. A larger talent… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. A survival guide for SMEs in the face of inflation Inflation is a challenge for all businesses, but the sting is especially painful for SMEs. With limited resources, they can find themselves struggling to absorb costs associated with inflation, potentially leading them down the path of price increases and… Read more
Cybersecurity Best Practices for Small and Medium-Sized Businesses In our digital age, cybersecurity is a crucial aspect of running any business. Cybersecurity breaches could lead to not only data theft but also reputational and financial loss. Hence, it’s imperative to establish robust cybersecurity measures to protect your business and customers’ sensitive information. Here are some cybersecurity practices that could help safeguard your online presence. 1. Invest in Security Software: One… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Australia lags US in beating inflation Australia is lagging considerably behind the United States in combating inflation, with recent data showing a vast disparity between the two nations. ASIC accuses $13.6b Active Super of greenwashing its investments in gambling and coal The Australian Securities and Investments Commission (ASIC) has… Read more
How often do you feel like a superhero, taking on the world and tackling everything that comes your way? If you’re a small business owner, chances are it’s more often than not! The demands of running a small business can weigh heavy on our shoulders at times, and as business owners we often try to do everything ourselves. The success of your business depends not just on you, but also… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Stoking the engine room of the Australian economy The nation’s fleet of small to medium-sized businesses boosting economic growth has been one constant amid the technological and demographic transformation of the Australian economy. Enabling them to be more successful is the focus of ANZ’s new Group Executive, Australia Commercial Clare… Read more
It’s hard to go a day without reading something in the news about the state of the economy. Whether it’s interest rates rising or the cost of living, there’s no getting around the fact that in 2023 there are many doing it tougher than a few years ago. But while there are some economic challenges for individuals and businesses, it’s important to not go too far down the rabbit hole.… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Another 1.3 billion consumers will shop online by 2027 Online retailers should be gearing up for the addition of a further 1.3 billion consumers worldwide joining the ranks of online shoppers by 2027, says market research firm Juniper Research. Not fair on consumers, not good for business’: Financial complaints… Read more