For every small business, there comes a time when you can no longer get by without accounting assistance. With so many important decisions to make in the business, the sooner you hire an accountant the better. Let’s consider a few of the questions to ask before hiring an accountant.
Disaster can strike your business at any time. Despite the risk, 75% of businesses don’t have a disaster recovery plan, which is part of an overall business continuity plan. Research from Deloitte has revealed that 90% of businesses without a disaster recovery plan fail after an unexpected event such as a natural disaster. Fortunately, there are a few simple things to keep your business running in the event of a disaster.
Effective leadership is closely connected to long-term business success. Understanding the laws of leadership and how to apply them can help you build a successful and sustainable small business. Here we’ll examine the 21 Irrefutable Laws of Leadership from John Maxwell’s book of that title and how they can enable you to boost your business.
The growth of global communication and transportation has made it easier for small business owners to expand globally. All types of businesses – from online product marketers to professional service providers – can benefit from expanding into global markets. Here we offer some tips for taking your business global.
Twenty years ago, Peter Merchant was working in South Australia’s Fleurieu Peninsula making Tuscan style pavers using local sandstone. Little did he know back then that the experience would kick off what he’s now grown to be a global business, exporting local products/stone as far as Dubai. But scaling up has meant trimming back, restructuring, and smarter spending.
“My motto is, even if you’re on the right track, if you sit there, you’ll get run over.”
Peter Merchant’s business, Maison Design, often involves importing outdoor furniture from overseas. A few times his plans were foiled when the products he imported didn't meet his expectations.
Bek McMillan worked as a chef in London and Melbourne for 12 years before taking over the kitchen of The Living Room in Templestowe. Eventually, she decided to chase her dream of opening a cellar-door style provedore in Melbourne, helping connect small-scale local producers with foodies in the city.
Patents. Trademarks. Copyright. When you think about intellectual property, you probably think it doesn’t apply to small business. It’s easy to think that intellectual property is something that only applies to large businesses. But this is wrong.
After she was fired from her IT job in the 2009 Global Financial Crisis, the founder and director of Cupcake Central, Sheryl Thai, decided to chase her dream of opening up a cupcake store. Once she’d achieved that, she set her sights on another dream – publishing a cupcake cookbook. And she did, but it turned out to be a catastrophic muck-up.
Founder and director of Cupcake Central, Sheryl Thai, started her career in Information Technology. But when the Global Financial Crisis hit in 2009, she lost her job and decided to pursue her dream of opening a cupcake store. Eight years later, she has 5 stores across Melbourne.
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