Eric Allgood

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The Future Stability of Small Businesses Amidst the Cost of Living Crisis

Small businesses are struggling amidst the cost of living crisis, with insolvencies at record highs and inflation driving up costs. The Labour Government's budget offers temporary relief but fails to address root issues like high energy costs and rising interest rates. To ensure stability, more comprehensive support is needed. Government policies must balance the needs of workers and small business owners. Long-term solutions are essential for the sustainability of small businesses.
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2024-25 Budget: Will Small Businesses Truly Benefit?

The 2024-25 Australian Budget aims to support small businesses with initiatives like a $20,000 instant asset write-off, $3.5 billion in energy bill relief, and $25.3 million to improve payment times. However, the allocated funds per business are minimal, raising questions about their effectiveness. For instance, the digital adoption initiative provides just $6.91 per business annually. More comprehensive and sustained strategies are essential for meaningful support and long-term growth. Learn more about the budget's impact.
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2024-25 Budget: Will Disaster Relief and Preparedness Measures Help Small Businesses?

The 2024-25 Australian Budget allocates $236 million for disaster recovery, but is it enough? With Australia's natural disasters costing $18.2 billion annually, the per-business support amounts to just $25.65 per year. Other allocations, like the $1.4 billion for Disaster Recovery Funding Arrangements, offer $152.17 per small business annually. These figures highlight the need for more robust funding to ensure effective disaster preparedness and recovery for small businesses. Learn more about the budget’s impact and its shortcomings.
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Will the 2024-25 Budget Solve Australia’s Housing Crisis?

The 2024-25 Australian Budget's housing initiatives, including the $10 billion Housing Australia Future Fund and $1.6 billion First Home Guarantee Scheme, aim to tackle the housing crisis. However, the funding may be insufficient to meet the growing demand and rising costs. With a significant shortfall in affordable housing and increasing rental stress, the budget's measures may not fully address the underlying issues. Effective implementation and additional funding are crucial for meaningful impact.
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2024-25 Australian Budget: Ambitious Plans or Inflationary Risks? A Critical Review of Economic Impact and Future RBA Decisions

SBAAS responds to the 2024-25 Australian Budget, highlighting both opportunities and challenges for small businesses. Key measures include energy bill relief, rent assistance, and Stage 3 tax cuts. However, future deficits, increased borrowing costs, and economic uncertainties pose significant risks. Effective implementation and long-term planning are essential for success.
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The ESG Reporting Conundrum for Small Businesses: A Multifaceted Perspective

As Australia advances toward stricter Environmental, Social, and Governance (ESG) reporting, small businesses face significant challenges. They lack the resources and capacity to meet the same reporting standards as larger corporations, especially in sectors with existing carbon compliance demands. A multi-tier ESG reporting system could ease this burden by tailoring requirements to small businesses' operational capacities, potentially encouraging sustainable practices without overwhelming them. However, this approach may introduce complexity in enforcement and risk creating a perception of lesser sustainability commitment among smaller entities. Government support in providing clear guidance and resources is crucial for a smooth transition to sustainable practices.
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Empowering Australian Micro and Small Businesses through ESG Integration

Environmental, Social, and Governance (ESG) measures are crucial for Australian micro and small businesses facing increasing demands for sustainable practices. Integrating ESG into business strategies can enhance value, align with stakeholder expectations, and secure business opportunities, especially as larger companies evaluate suppliers' sustainability credentials. Practical guidance and examples of successful ESG integration are essential, demonstrating benefits like cost savings and reputation enhancement. Tailored sector-specific ESG practices can address unique industry challenges, while a cost-benefit analysis can highlight the long-term advantages of ESG compliance over initial costs. Supportive resources and sector-specific guidance can aid businesses in navigating and implementing ESG initiatives effectively.
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Beyond the Resume: Crafting a Recruitment Strategy for a Diverse and Dynamic Workforce

Exploring the nuances of modern recruitment, this blog delves into the age-old dilemma of hiring wisdom versus the fresh perspective of youth. It challenges the status quo of resume screening and applicant tracking systems, emphasizing the importance of diversity and the potential of every candidate, regardless of age. Through personal anecdotes and experimental insights, it offers a critical look at the biases and barriers in today's recruitment processes and proposes a more empathetic and inclusive approach to building high-performing teams.
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Navigating the Cyber Threat Landscape: Essential Insights for SMEs

SMEs are increasingly targeted by cyber threats, with the pandemic exposing the extent of potential scams. Key vulnerabilities include hacking through remote working, where security measures like firewalls and malware protection are often overlooked. Additionally, the internet offers hackers vast opportunities to infiltrate business systems. Moreover, the rise of ransomware and phishing attacks, constituting over 25% of cyber incidents, underscores the urgent need for robust cybersecurity measures.
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Embracing the Future: Top 7 Digital Marketing Strategies for 2022

As we approach 2022, businesses must adapt to evolving digital marketing trends, focusing on customer-centric strategies. Key areas include enhancing customer experience with speed and convenience, embracing story-driven content, and fostering a brand culture that resonates with consumers. Additionally, conversational marketing, video content, and optimised SEO through featured snippets are crucial. With the rise of Generation Z as a dominant market force, marketing strategies must be diversified and inclusive to cater to their preferences and behaviours.
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