The Australian Smal Business and Family Enterprise Ombudsman has revealed a large number of big corporates have failed to respond to the ombudsman’s request for information on payment times to suppliers in the small business space. The Review of payment terms, times and practices report, released today by the ASBFEO, surveyed 2400 small and family businesses… Read more »
Any business owner will tell you that it’s not always smooth sailing, and if they do, they’re probably lying…or they have some superpower that we all need to get ahold From day one, the ebb and flow of business is inevitable, some days you’ll be flying, and other days it may feel like it is… Read more »
The 2019 budget brought many wins for the nation’s small business owners, including an increase to the instant asset write-off, investment into an apprenticeship scheme, increased infrastructure spending and a $60 million injection into the export market. Yet industry experts and small business advocates suggest more could be done to ease the burden on Australia’s… Read more »
As we approach the release of the 2019-20 federal budget on April 2, it’s worth noting that the proposals unveiled will be just that: proposals. Some will hit snags in Parliament, some may be rewritten, and some could be scrapped if government changes hands. With that caveat in mind, here are some bills from the… Read more »
Since launching RBK Advisory in 2016, Jason Robinson has had a heady ride. Recently announced as Xero Accounting Partner of the Year, the firm has also been named by Hubdoc as one of the Top 50 Cloud Accountants and he’s earned himself the accolade of Young Finance Leader Accountant of the Year. He expanded the… Read more »
Communication is changing, and small businesses should take notice or risk being left behind. Quickly becoming the preferred method of communication, 70% of internet users are now using mobile messaging as an alternative to phone and email. According to the 2019 Digital Trends Report, 90 per cent of customers express a desire to contact a… Read more »
When managing a small business, the key to success is having an organised structure and keeping your activities as simple as possible. With simple structures, business owners don’t have to think about menial tasks and are freed up to focus on the bigger picture and long-term strategy. As an entrepreneur, a core focus should be… Read more »
One fifth of startups fail in the first year and only 50 per cent of businesses survive after the first five years. There are a number of contributing factors to the success or failure of a business. In particular, finance is an important factor in determining whether or not a business is sustainable in the… Read more »
New research by small business lender Prospa has revealed the impact of its small business loans on the nation’s economy. The report reveals the importance of maintaining cash flow for small businesses to enable Australia’s economic growth with Prospa small business lending supporting 52,500 Aussie jobs and contributes $3.65 bn to GDP. Prospa undertook the… Read more »
A new report by Power Retail has revealed Buy Now Pay Later (BNPL) services which launched in the Australian market in 2015 are exploding in popularity. The report suggests retailers who ignore BNPL do so at their peril. The ‘Buy Now, Pay Later – Fad or Future?’ report surveyed 5,000+ retailers and consumers across Australia to discover… Read more »
Research by small business lender Prospa has found small business owners are sacrificing health and well being as they struggle to make time to relax due to business pressures. One in four business owners reported working seven days a week to keep their business afloat. While three quarters suggest running their business impacts their ability… Read more »
The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, is urging small businesses to take the payment times survey before it closes on Friday. Carnell is particularly keen for more representation from small businesses and family enterprises in rural and regional areas. “We know some of the worst payment practices are directed towards rural… Read more »
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