High inflation affects both businesses and individuals, as rising prices reduce profitability and buying power. Staff shortages, freight challenges, and bad weather add more layers to the cost-of-living crisis. As a business owner, you need to adapt to these changing conditions to survive. Consider the following strategies to prevent inflationary pressures from causing a rise in your business costs. Option 1: Wait until the market recovers Maintain current prices and… Read more
If you run an Australian business that provides goods or services, you are required to comply with the Australian Consumer Law (‘ACL’). The aim of the ACL is to protect consumers. If you fail to comply, you may have to provide a remedy or in some circumstances, pay a fine. Therefore, as a business, it is important that you understand your obligations concerning the ACL. This article will explain three… Read more
Think back to when you started your business. What drove you? Maybe it was the dream of freedom, the excitement of being your own boss, or the simple fact that you loved what you did. Fast forward to now—are you thriving and in control, or are you stuck juggling a million things, feeling like you’re working harder than ever with little to show for it? That’s the exact scenario Michael… Read more
For many business owners, the day-to-day demands of running a business can make long-term planning seem like a distant concern. But, failing to plan for succession can put your business—and its legacy—at significant risk. The question you need to ask yourself is: Is hope your exit plan, or do you have a strategy? The reality of succession planning Succession planning involves identifying and developing new leaders who can replace old… Read more
Selling a business isn’t just about signing on the dotted line and handing over the keys. For small business owners, it’s more than just a transaction—it’s often the culmination of years of hard work, growth, and dedication. Whether you’re passing the baton to focus on new opportunities or preparing for retirement, negotiating the sale of your business will determine whether you walk away satisfied—or leave money on the table. The… Read more
In a crowded marketplace, standing out can be a real challenge. One of the most powerful tools at your disposal is the testimonial—a genuine account of your customers’ positive experiences with your business. These success stories not only build trust and credibility but also can significantly boost your sales and brand reputation. If you’re a small business owner looking to harness the power of testimonials, this guide is for you.… Read more
When it comes to valuing a business, most people’s first thought is straightforward—profits. While financial success is undoubtedly a critical aspect, it’s far from the only factor determining a business’s true worth. For small business owners and entrepreneurs, understanding the complexities of valuation can offer a clear roadmap for sustainable growth and long-term success. Here is a fresh perspective on what makes a business truly valuable. We’ll discuss traditional valuation… Read more
