What Is a Small Business?
Small business has a big impact on Australia’s economy, including employment and overall contribution to GDP. Given the important impact of small business, it’s important to have a clear definition of the term.
Right to Disconnect: What Does It Mean?
Recently, the Victoria Police enterprise agreement included a ‘right to disconnect’ from work. But even though this might sound like a new term, the right to disconnect has been a topic of discussion for a few years. In 2017, French legislation was passed that required companies to regulate the use of digital devices after hours to respect private lives. Here we consider this issue and how it applies to SME owners and employees.
Grow Your Business with These 11 Tips
If you are like most business owners, one of your main goals is to grow your business. Although the goal is clear, the way you achieve it might not be obvious. Here are 11 ways to grow your business.
Business Life Cycle Stages: A Short Guide
Business life cycle stages are a way to analyse how a business changes over time. Understanding where your business sits in the growth stages can help you clarify your thinking and take steps to move through the business lifecycle. Here we describe the stages of a business and how to help you move through them.
Walking Meetings: How and Why to Walk the Talk
Walking meetings have gained popularity in recent years. Nilofer Merchant’s TEDTalk brought the topic to the forefront when she explained the benefits of walking in a world where we sit for an average of 9.3 hours per day. Steve Jobs was also a fan of these types of meetings. Let’s consider the benefits of walking meetings and how you can make them an effective alternative to traditional meetings.
Casual Employment Changes: How Do They Affect SMEs?
Casual employment has been a contentious issue as the definition of casual employment was not clear in the past. In March 2021, the Australian Senate passed a reduced version of the Fair Work Amendment (Supporting Australia’s Jobs and Economic Recovery) Bill, also called the Industrial Relations Omnibus Bill. While most of the intended legislation was dropped, the portion of the bill addressing casual employment passed. Here we provide a brief overview of the changes and what these could mean for SMEs.
Comprehensive Credit Reporting: What Is It?
Comprehensive credit reporting (CCR) has been in the works in Australia for several years. An amended law which sets the date for mandatory reporting was delayed due to the COVID-19 pandemic and was finally passed in early February 2021. It requires that large lenders expand credit reporting by 1 July 2021. What is comprehensive credit reporting and what does it mean for SMEs seeking finance? Let’s take a closer look.
Why ROX (Return on Experience) is the New ROI
Return on experience (ROX) is quickly gaining traction as a way to track the results of investments in customer and employee experiences. If implemented correctly, return on experience can be highly effective in showing how investing time, money in effort invested in improving experiences can generate results. Let’s take a closer look at how to track and apply ROX.
Instant Asset Write Off 2021: How to Use It
You can take advantage of the instant asset write-off before the end of each financial year. As part of the 2020-2021 Federal Budget, the Australian Government announced an increase in…
Business Diversification: What Are the Opportunities?
Business diversification is often discussed in terms of investment portfolios. But a diversification strategy can grow a business and reduce risk. Here we explore how businesses have expanded their products or services as part of their growth strategy, and how you can apply their experiences to your business.