Organisations wanting to stay a dominant force in this new era of business need to understand the forces driving the new economy; Knowledge, change, and globalisation. Dr Alex Maritz, Director of the Australian Graduate of Entrepreneurship says a new business environment is increasingly complex as a result of the vast amount of business space created, and is fuelled by a customer-driven economy.
As business conditions slow and business costs increase, it’s becoming increasing difficult to rely on earnings growth to improve the bottom line. Check out these simple business cost cutting ideas to improve profit and cash flow.
The changes to superannuation over the past two years have created an exciting opportunity for SME owners, even those nowhere near retirement age, giving them the ability to use their super to grow their business, control their premises and provide for a comfortable retirement all at the same time.
Small business owners are showing strong interest in managing their own money in saving for retirement and when no longer working full-time. Often, the management of their own self-managed super fund (SMSF) becomes their new ‘small business’ in retirement.
The efficient and wise use of Australia’s precious water resources is a priority for Tom Rooney, founder of water brokerage company Waterfind. Using his knowledge of water broking, Rooney gathered a team of specialists to develop a purpose-built online water trading system that brings together and automates the complex and varied trading rules and regulations of different water markets.
Evolving consumer demands, a dynamic competitive landscape and the broader economic climate are all issues that can place unforeseen pressures on a small business. Being able to manage, adapt or take advantage of these factors is critical for survival and can help drive success.
Cash is the lifeblood of a business, so smart management of your debtors is crucial to success. Greg Charlwood, Asia Pacific CEO of global business finance provider, Bibby Financial Services, shares his tips on how to avoid a messy debtors book and better manage your cash flow.