Resilience skills help businesses in crises, such as during the pandemic, but also outside of those times. Resilience is being able to evaluate, identify, and address challenges as swiftly as possible to achieve a good outcome. It’s good to know Australian SMEs have more support to deal with whatever disaster lands their way. Govt invests […]
With spring around the corner, it’s a great opportunity to start spring cleaning for your business. Evaluating your operations at the start of the second quarter allows you to tweak and transform in ways that may pay off for the rest of the financial year. Tip #1: Review your inventory With supply chain disruptions continuing, […]
The options for buying pre-loved equipment for your business can be plentiful. They could include online marketplaces, retail, direct from an owner, via auctions or brokers. Maybe the gear is still within warranty or has been reconditioned, rebuilt, or is sold as is. The Ritchie Bros Annual Market Trends Report shows Australian figures for 2022 increased from […]
Small-to-medium-sized businesses make up 93% of Australian businesses that export. That’s according to the most recent figures (2020-21) from Austrade’s State of Exporters Report. The typical small-business exporter had a turnover of almost $5 million and operated in just one market. However, the DHL Export Barometer report found that almost half of all businesses surveyed planned to enter […]
Franchising can be a great way to start a business with a ready-made model and resources for a fee. Research shows that four out of 10 franchisees used to work for the franchisor, making it a natural transition. Franchising is a mature sector in Australia, so franchisors are becoming creative in finding ways to expand. Even part-time […]
Australian builders are experiencing slim margins, but to help with costs, it pays to have a tight rein on your risk management. We’re not quite seeing what’s happening in the UK, where builders are pulling in the profits, charging a 10% premium over the price of an existing home. Back in Australia, you do have some […]
According to the Australian Bureau of Statistics, in those industries with the highest rates of injuries, 43% are small business workers. They include construction, agriculture, mining, transport, manufacturing, and warehousing. But Australian small businesses can do more to minimise the risks of employees becoming injured at work. Those that adopt best practices enjoy these benefits: However, in its […]
The past three years have been a whirlwind for hospitality businesses. While the pandemic seems to be on the wane, your business should still do everything reasonably practicable to reduce the risks of COVID-19’s spread, like keeping up to date on employers’ responsibilities via this Safe Work Australia website. Other, more inherent risks remain, though. A global […]
How can you determine the essential insurance you need for your unique business? Your aim is to balance minimising risks with maximising profit. Insurance helps small and medium-sized enterprises by mitigating threats, offering financial support and paving the way to sustainability. Having the right insurance also builds business credibility in the eyes of your customers, contractors, suppliers […]
t’s easy to assume all coverage is equal when it comes to finding your best-fit insurance. But choosing opting for a low level of cover may end up costing you more in the long run. It’s also important to consider: The responses will help you work out if you’re receiving the level of coverage you […]
