The Future Stability of Small Businesses Amidst the Cost of Living Crisis
The Future Stability of Small Businesses Amidst the Cost of Living Crisis The cost of living crisis is hitting everyone hard, but small business owners are facing unique challenges. They must navigate rising costs while keeping their businesses afloat. This analysis looks at the future stability of small businesses in light of current economic pressures […]
2024-25 Budget: Will Small Businesses Truly Benefit?
2024-25 Budget: Will Small Businesses Truly Benefit? The 2024-25 Australian Budget includes several measures to support small businesses. While these initiatives sound promising, a closer look at the funding and economic impact raises questions about their effectiveness. Instant Asset Write-Off Extension The budget extends the $20,000 instant asset write-off for another year. Noting that as […]
2024-25 Budget: Will Disaster Relief and Preparedness Measures Help Small Businesses?
2024-25 Budget: Will Disaster Relief and Preparedness Measures Help Small Businesses? The 2024-25 Australian Budget promises substantial support for disaster relief and preparedness. But will the proposed measures truly benefit small businesses? Let’s break down the key initiatives and their potential impact. National Emergency Management Agency (NEMA) Funding The budget allocates $236 million over four years to […]
Will the 2024-25 Budget Solve Australia’s Housing Crisis?
Will the 2024-25 Budget Solve Australia’s Housing Crisis? The 2024-25 Australian Budget has made bold promises to tackle the nation’s housing crisis. With allocations for new homes, rent assistance, and first-home buyer support, the government aims to provide relief to those struggling with high property prices and rental stress. However, a closer look reveals significant […]
2024-25 Australian Budget: Ambitious Plans or Inflationary Risks? A Critical Review of Economic Impact and Future RBA Decisions
2024-25 Australian Budget: Ambitious Plans or Inflationary Risks? A Critical Review of Economic Impact and Future RBA Decisions Jim Chalmers’ 2024-25 Australian Budget aims to navigate a complex macroeconomic environment marked by inflationary pressures, economic fragility, and a need for structural reforms. Economic Context and Overall Strategy Macroeconomic Environment The budget is framed against global […]
Navigating Through Turbulence: The Vital Role of Legal and Tax Literacy in Small Business Resilience
Navigating Through Turbulence: The Vital Role of Legal and Tax Literacy in Small Business Resilience In light of recent discussions on the vulnerability of small businesses in a market dominated by large corporations, as highlighted by ABC’s report, it becomes imperative to focus on the strategic advantage that heightened legal and tax literacy can provide. […]
The ESG Reporting Conundrum for Small Businesses: A Multifaceted Perspective
The ESG Reporting Conundrum for Small Businesses: A Multifaceted Perspective The implications for small businesses are profound as Australia embarks toward enhanced Environmental, Social, and Governance (ESG) reporting standards. With the government proposing mandatory climate-related disclosure laws for large businesses and financial institutions, it’s essential to consider the cascading effects on the smaller entities that […]
Empowering Australian Micro and Small Businesses through ESG Integration
Empowering Australian Micro and Small Businesses through ESG Integration The imperative of Environmental, Social, and Governance (ESG) measures for Micro, Small and Medium Enterprises (MSMEs) cannot be overstated in today’s business environment. With the growing demands from regulators, investors, and customers for sustainable practices, MSMEs, particularly micro and small businesses, must actively engage in ESG […]
Attracting and Retaining Talent: HR Insights for the Hospitality Industry
Attracting and Retaining Talent: HR Insights for the Hospitality Industry The labour-intensive hospitality industry is competitive and comprises young, unskilled, low-skilled, casual workers, including migrants. The macroeconomic, political, and social factors impact the hospitality industry’s external and internal labour markets. For instance, the hospitality industry in Sydney employs more migrants because it is a hub […]
Introducing Director ID: Ensuring Transparency and Accountability in Australian Business
Introducing Director ID: Ensuring Transparency and Accountability in Australian Business The Australian Securities and Investments Commission (ASIC) Modernising Business Registers Program’s (MBR) first service delivery is the director identification number or director ID. This requirement is now available on the Australian Business Registry Services (ABRS) website. Managed by the ATO the ABRS streamlines how you register, […]
Beyond the Resume: Crafting a Recruitment Strategy for a Diverse and Dynamic Workforce
Beyond the Resume: Crafting a Recruitment Strategy for a Diverse and Dynamic Workforce It has long been known that hiring right sets the foundations for great results. Whilst this isn’t to take away from excellent internal training and induction processes, starting with a higher calibre candidate increases the effectiveness of all your post-hire strategies (you […]
Navigating the Cyber Threat Landscape: Essential Insights for SMEs
Navigating the Cyber Threat Landscape: Essential Insights for SMEs SME’s have become increasingly more likely to be targeted by scammers and hackers. The reasoning is simple: businesses collect and store a wide range of consumer data, especially important personal data. If COVID-19 has taught us nothing else, it has certainly shown the depths of human […]