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The 10 Mindsets You Need to Become a Successful Business Franchisee

September 20, 2017
The 10 Mindsets You Need to Become a Successful Business Franchisee Your state of mind is one of the key factors that determine your success especially when venturing into a business. Furthermore, your mindset becomes more important when investing as a franchisee. A franchisee practically owns the business of another business owner and there are structured rules that one must comply with....

Buying a franchise business - what do you need to look out for?

September 19, 2017
Buying a franchise business - what do you need to look out for?                     Jeremy Streten | Lawyer & Author Are you considering buying a franchise but don’t know where to start? Have you heard horror stories from your friends and family about buying a franchise? Do you want to give it a go? Buying the right type of franchise is a great way to get into business as you are buying a...

The pros and cons of innovation equity funding

September 19, 2017
In an attempt to make it easier for small- to medium-sized businesses (SMBs) to raise funds while ensuring adequate investor protection, the government has made changes to the crowd-sourced equity funding (CSEF) scheme, which will commence on 20 September 2017. (1) However, there are doubts about the new fundraising approach and the conditions of eligibility, as 99.7 percent of Australian...

Retail businesses still face insolvency risks despite new safe harbour laws

September 18, 2017
New safe harbour legislation which passed through Federal Parliament last week will be unlikely to settle the personal liability fears of current and aspiring company directors in the retail industry, according to a leading insolvency expert. Currently awaiting royal assent, the Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Bill 2017 amends the Corporations Act 2001 (Cth) and aims to...

SMEs and BAS: the consequences of late lodgement

September 15, 2017
One of the biggest mistakes some SMEs make is putting off lodging their quarterly BAS returns. For those who do their own books, there are a number of reasons for this – they get caught up in the day-to-day running of their business or the person who has been doing their books for them is no longer available. While some business owners have a laissez-faire attitude to lodging their BAS returns,...

How to keep data secure in the age of remote working

September 13, 2017
The mobile workforce is increasing but many businesses do not have adequate solutions in place to protect sensitive information across diffused and decentralised computing infrastructures. With an increasing challenge to keep machines and data secure, new combinations of solutions are required, according to Palo Alto Networks. Ian Raper, Regional Vice President, ANZ, Palo Alto Networks said, “In...

New Anti-Phoenix Package: Will it be ‘last director standing’ for failing companies?

September 13, 2017
BDO Tax Partner, Mark Molesworth commented on the government’s package of anti-phoenix measures: “The provision preventing directors from resigning where that will leave no directors for an entity, may lead to a ‘last director standing’ rush in situations where a company is showing signs of failure. That is, compared to the current law, directors may be more likely to want to resign earlier...

How to increase results for your law firm

September 12, 2017
Many Australian law firms are struggling to maximise their business development opportunities. Recent research shows 69 per cent of law firms with an ‘under developed’ marketing and business development function did not have a plan at all. (1) Carl Olson, Product Management Director, ANZ, Thomson Reuters Legal, said, “By making just a few strategic changes, firms can dramatically improve their...

Three ways to achieve success through customer obsession

September 8, 2017
Becoming customer-obsessed in acquiring, serving, and retaining customers is no longer merely an advisable option, but a necessity for businesses. Digital transformation and evolving customer expectations are forcing organisations to become more transparent in their operations. Businesses that fail to demonstrate a customer-first approach will find it difficult to compete successfully, according...

Six expense management considerations for small business owners

September 6, 2017
Many Australian small businesses are still struggling to make the move from spreadsheets to an automated expense solution because they find the technology daunting and believe making the switch may be too difficult, according to Concur. Matt Goss, managing director, ANZ, Concur, said, “Automating expense management delivers significant business benefits and doesn’t have to be difficult. Business...

Three reasons small businesses should go mobile

September 4, 2017
When competing against larger organisations, smaller businesses often feel the need to work twice as hard just to keep up. However, what small- to medium-sized businesses (SMBs) lack in size, they make up for in agility, adaptability, and flexibility, according to Concur. Murray Warner, business development director, Concur said, “SMBs can implement change quickly because they don’t tend to have...

Small Franchises to Bear Biggest Burden of Proposed Regulatory Changes

August 30, 2017
Much of the current media and government focus on Australian franchising assumes that the sector is dominated by massive multi-national and large national franchise operations. In reality, the opposite is true. Australia’s franchise sector is overwhelmingly made up of smaller franchises and it is these businesses that will feel the biggest impact of the proposed joint liability legislative...

Staff Selection and Training Driving Franchise Success

August 23, 2017
Staff selection, training and management is one of the most crucial aspects of a successful and profitable franchise in today's economy, according to Franchise Partners of leading Australian tile retailer, Beaumont Tiles. The partners - whose backgrounds span from sports management to agriculture - attribute their business success to the people-focused business model and systems developed by...

Bill to increase franchisor compliance risk.

August 17, 2017
Bill to increase franchisor compliance risk. Senate debate continues on the Fair Work Amendment (Protecting Vulnerable Workers) Bill 2017 which looks to tighten the chain of responsibility between a franchisor and franchisee. The Bill seeks to amend the Fair Work Act and introduce a higher scale of penalties for ‘serious contraventions’ of prescribed workplace laws and increased penalties for...

Top 6 Tech Trends That Shift the Business World

August 16, 2017
Top 6 Tech Trends That Shift the Business World In this day and age, technology advances at a breakneck speed, which is both a great challenge and an incredible opportunity. While some business owners make good use of emerging trends, others struggle to keep up the pace. It is clear that one has to adapt and implement tools and strategies with minimal friction. There are multifarious trends on...

How to stay productive while working remotely

August 16, 2017
How to stay productive while working remotely Reduced infrastructure cost, access to best talent,  responsible and productive workforce is making more and more companies adopt remote work options in recent years. Almost all of the working Americans would like to work remotely at least part-time. Many of them expect to work remotely instead of commute to an office every day.  When you carry your...

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