Australia’s skills shortage and high manufacturing costs mean importing products and parts from overseas can make good business sense. This article is your risk management update on sourcing from foreign manufacturers. Risks of imported products/components Using overseas manufacturers to source parts and products raises these issues: If there’s any issue with the overseas-made product, you […]
The recent PwC scandal doesn’t only affect the top end of town. There are also plenty of lessons for SMEs about how not to do business. At the crux are the issues of contract breaches, conflicts of interest and professional indemnity. Let’s take a closer look. An overview of the financial saga PwC, short for PriceWaterhouseCoopers, is […]
The transport and logistics sector is the lifeblood of Australia. According to the Federal Government’s Australian aggregate freight forecasts, the nation’s ‘freight task’ grew over four-fold in the five decades to 2020. However, it forecasts a continuing slowdown in freight activity in the medium to longer term. That’s due to slower domestic income growth and less […]
Australia is suffering from a shortage of arborists, with an extra 20,000 needed by 2027, according to industry sources. Whether staffing is an issue for your arborist business, it’s vital to keep the spotlight on safety. This article covers a range of tips to help revisit and refresh your risk management approach. Assessing the tree Check […]
Supply chain fraud is in the spotlight. A report from the Australian Competition and Consumer Commission (ACCC) showed a 1,174% increase in false invoices led to $8.6 million in losses last year. By taking control of a legitimate business’ online accounts or email, scammers send fake invoices to divert payment to their own bank accounts. […]
Last month, the Bureau of Meteorology announced the start of an El Niño weather pattern. Our country can, therefore, expect warmer and drier conditions for the next three months at least. What does that mean for you, your assets, and insurance? Factors influencing bushfires this summer We’re unlikely to see a repeat of the Black […]
Australia has about three million rental homes and about 1.7 million landlords, according to University of Sydney research . About one in three landlords own more than one property. But despite their numbers, plenty of misconceptions abound about landlord insurance. This article covers the main four ones. Not tenanted? You should still insure it Typically, a landlord policy will […]
It’s less than a year since OpenAI released its (general) artificial intelligence (AI) app, ChatGPT. Since then, it and its alternatives, have transformed how we do business. Such tech is known as generative AI, a form of machine learning. Trained on a vast database of natural language, it can create content, such as text, code, audio, images, […]
Did you hear about the Tradies’ National Health Month in August? It highlighted plenty of strategies and tips on this important topic to use year-round to protect the tradies in your midst and your business. Top risks tradies face St John Ambulance has a handy definition for tradies, saying they include technicians, trade workers, labourers, machinery operators, and […]
How does your business feel about artificial intelligence (AI)? Is it a friend, foe, or both, particularly when it comes to cybersecurity? A recent Australian conference heard SMEs need to embrace AI or be left behind. Workday’s Global Study of AI in business found that nine out of 10 businesses they surveyed used this technology to manage people, […]
