SMEs using the ATO like a “bank” – what your clients need to know

As of the February 21 2020, the ATO will disclose tax debts over $100,000 that are overdue by more than 90 days to Credit Reporting Bureaus (CRB). Business owners historically have used the ATO as a “bank” by not paying their tax commitments on time, rather than utilise their own capital or commercial working capital […]

Keeping it personal

With corporate giants Facebook and Uber in hot water over privacy breaches, how can SMEs with fewer resources make sure they don’t run foul of Australia’s costly new data breach laws? Fast-growing companies and successful SMEs could be the hardest hit when it comes to new data breach laws, according to cyber security expert Sorin […]

Super stoush

The big super funds are targeting self-managed super – a popular choice for small business owners – over burgeoning borrowing for property investment. And the push is on to make the $20,000 write-down facility permanent. Here’s what to watch for in next month’s Federal Budget. It’s shaping up as the battle of the big guns […]

Cash in a flash

Australia’s New Payments Platform could turbo-charge cash flow for SMEs, with 24/7 real-time transfers banishing the time payments sit in limbo. Imagine a day where your mobile phone number is all clients need to pay; where bank transfers clear within seconds; and payments into your business account are automatically reconciled. Australia’s New Payments Platform (NPP), […]

Everyone loves a chat

Live chat can drive higher rates of satisfaction than any other form of customer support1. However, it pays to remember that while customers will excuse a mistake, frustrate them when they have a problem and you’ve lost them forever. We lead you through some golden rules for implementing live chat software on your website. It […]

A world of opportunity

Cracking the export market is becoming easier than ever for SMEs. Take your brand to the world in 2018 with new grants, easy finance and advice from those who’ve done it. In the past year, the federal government has turned its focus to helping launch Australian SMEs on the world stage, with government-backed finance and […]

Don’t bank on it

SMEs are turning away from traditional banks as lending to small businesses becomes big business for a slew of innovative new lenders. Traditional methods of getting a business loan involve patience, piles of paperwork and a few trips to the bank and your accountant. These days, SMEs can apply online and get loans approved within […]

A boost for business lending

Small business lending is set for a shake-up that will make terms fairer for the little guys if recommendations by the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) are introduced. The Carnell Report, released in February following an inquiry into bank lending for small-to-medium enterprises, has made 15 recommendations designed to address regulatory gaps […]

Don’t wait to innovate – how innovation could be driving your business further

Australian firms are striving to do things better despite a lack of time, a recent study concludes.  The country’s biggest and smallest companies see themselves as the most innovative, according to the National Australia Bank’s Business Innovation Index. The index, compiled by NAB Labs in partnership with the University of Melbourne, surveyed more than 500 […]

Clever business tech tools to improve business efficiency – lessons from the startups

Startups and small businesses are different beasts, but that doesn’t mean one can’t learn from the other. Startups are focused on growing ideas into big businesses as fast as possible. It makes sense they would utilise the most efficient tools of the trade. Andy Lamb, co-founder of Perth’s Atomic Sky startup studio, specialises in helping […]

Holding business to ransom — what is ransomware and what do I need to do to ensure my business is safe?

Small business owners have been warned to step up their computer security processes as ‘ransomware’ attacks become more prevalent and sophisticated. Cyber security experts have dubbed 2016 the Year of Ransomware with attacks that lock computer databases increasingly targeted at Australian businesses. Small to medium businesses could be more vulnerable to attack, a Perth academic […]

How do I market to my local area?

Local area marketing (known as LAM in the advertising world) hardly needs definition — essentially it is the promotion of your business to encourage local clients to your door. It can include initiatives such as placing an ad in your local paper, promoting your business in local shopfronts or newsletters, or local outdoor signage or […]

Innovation nation – how the government is helping small business

The Government wants to encourage entrepreneurs to think outside the box with a range of recent changes to remove the stigma – and some penalties – around business failure. The Government’s Innovation Statement has been roundly welcomed by small business, with changes to insolvency and tax laws aimed at encouraging businesses to push the envelope. […]

And the award goes to…

The Productivity Commission’s (PC) draft report into Australia’s workplace relations framework does not look set to make major changes to the country’s idiosyncratic system of award wages, much to the chagrin of business. The old saying goes that a good compromise is one that leaves all parties equally unhappy. And by that yardstick the PC […]

Budget Bonanza

The budget gave small business something to smile about, but big business is waiting for more. Are you reading this on a new laptop or tablet? You may already be reaping the benefits of a Budget which promised something special for Australian small businesses and delivered in spades. Council of Small Business Chief Executive Peter […]

Budgeting beyond the boom

As the investment phase of the mining boom ends, we look at what Australian business needs from the budget to carry the economy forward. All eyes will be on Canberra next month for one of the most pivotal budgets of recent times. It comes against a backdrop of economic and political instability as ructions within […]

Are you ready for SuperStream?

Mandatory changes to Australia’s superannuation regime beginning on July 1 will affect how employers make their super contributions. SuperStream will require employers to update existing payroll systems so additional information about employees can be provided to the ATO and to ensure transactions and data comply with a prescribed electronic format. The changes, which are part […]

Social media – how to avoid it all going wrong for your business – the real risks you need to know

Where customers go, business will follow but experts warn that the rules learned from traditional retail and online shopping will not always apply on social platforms. “The environment of social media is a difficult one in which to sell products too overtly, or even to deliver advertising in an effective way,” according to Deloitte Access […]

Social media and small business – what are the common pitfalls, and how to transform clicks into customers.

The past five years have seen social media make a steady march into mainstream business strategy. More than 90 percent of small and medium businesses in Australia are on Facebook, LinkedIn, or Twitter, however, pundits warn that many businesses aren’t making the most of the digital enterprise opportunities.  The biggest risk is simply doing nothing, […]

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