|
|
|
|
|
Small Business Association of Australia Newsletter – Winter Edition
|
ISSUE #01 |
|
|
|
|
|
|
What SBAA is about
|
|
Take a look at our upcoming events, workshops, and meetings. Add them to your diary. Take a Tour
|
|
|
We work together and collaborate to achieve better economic policies for SME's. Take a Tour
|
|
|
International trade provides opportunities for SMEs and entrepreneurs to find investment, grow their Take a Tour
|
|
|
Small Business Association of Australia is dedicated to supporting and helping businesses connect, g Take a Tour
|
|
|
|
|
|
|
|
Welcome note from Anne Nalder
|
|
The Small Business Association of Australia understands that running a small business is tough. The business owner has to be a Jack of all trades, ...
|
The Small Business Association of Australia understands that running a small business is tough. The business owner has to be a Jack of all trades, managing tasks that a bigger business would either outsource or employ specialists to manage – and that’s where we come in to support you.
I have seen many businesses fail due to various constraints and my goal as Founder and CEO of the Small Business Association of Australia is make a difference in the life cycle of small businesses. We offer a range of consulting and referral services to get the advice and help you need and support our members in time of adversity.
We are launching this newsletter to open the channels of communication with small to medium enterprises and widen access to industry leader’s expertise. Subscribers will enjoy monthly specials from our valued sponsors, latest news concerning small businesses and my insight into current business events. We will also give you a range of articles to learn from.
Across Australia, the SME sector employs more than 5.2 million people and makes up slightly less than half of the private sector – making it extremely important to our nation’s economy.
If you want to make a change for small business, this is where it starts. SBAA is committed to getting a better deal for SMEs and to do so it needs the backing of small business owners and key stakeholders as members to help it drive that change. By becoming a member, you will also be supporting our work in formulating new ideas and initiatives for consideration by governments for the benefit of small businesses.
Since the SBAA’s inception 2010 we have grown steadily and gained recognition from the highest echelons of Australian powerbrokers since officially launching the SBAA Think Tank in 2013 in front of the then Minister for Small Business, Bruce Bilson.
But much remains to be done and we are here to work shoulder to shoulder with SMEs to raise our voices loud enough to reach those in Canberra.
I strongly urge all small to medium business owners to stand with us to reduce red tape, raise awareness, increase support, offer opportunities and above all else supply better business education – all working towards the goal of reducing small business failure and growing success.
I look forward to working with you in the future.
Kind regards,
Anne Nalder
Founder/CEO of the Small Business Association of Australia
|
|
|
|
|
|
|
|
|
|
|
|
Grow your business and protect your wealth
|
|
Finance and business go hand in hand, but small business owners are often left out in the cold or risk losing their personal assets. The Small Business Association of Australia (SBAA)is working wit....
|
Finance and business go hand in hand, but small business owners are often left out in the cold or risk losing their personal assets. The Small Business Association of Australia (SBAA)is working with Kikka to give you access to flexible, unsecured working capital and help you access the funds you need to unlock the growth potential of your business.
Grow your business without risking your personal wealth
Risking your family home or personal assets isn’t worth it. Business owners should use financing to avoid spending their personal income or risking their personal wealth, but finding finance from a reliable source is often a problem and usually requires providing security against any borrowing.Often, after the initial set up year when loans from family and friends have been exhausted, in order to grow there’s a need to take on finance to grow the business or smooth cash flow.
Unsecured working capital provides flexibility and security
Small businesses are likely to need capital during their operational lifetime and many businesses face cash flow challenges regardless of what industry they operate in.
There are unsecured finance options now available on the market to help SMEs gain access to the necessary funds which can now be accessed without jeopardising your personal security.
In order to provide some breathing room, business owners can take advantage of an unsecured line of credit. Credit lines allow small businesses to continue business operations in the absence of actual cash flow. Business owners can then repay short-term working capital loans as they collect cash from customer accounts or make additional sales.
Take advantage of opportunities to grow
Opportunities often come up for expansion. These opportunities could be short or longer term but usually require an upfront financial commitment and external financing. Having access to an unsecured line of credit which you can use when needed (and which you only pay for when you draw against it) makes it easy to take advantage of opportunities as they arise. The extra profit generated from this can then be used to pay down the line of credit,and used again when needed.
SBAA partner Kikka can help your business grow
SBAA recommends new online finance provider Kikka Capital who have developed an excellent product for short term unsecured small business finance. Kikka provides Australian small businesses with 24/7 access to working capital facilities of up to $100,000, with approvals in under 10 minutes.And best of all – the application and establishment of the line of credit is completely free and doesn’t require any security! Kikka is set apart from other lenders with their online lending platform which uses technology to collect and analyse small business data in real time. The result is an easy to use online application form which can be completed in minutes, and a decision provided immediately based on the health of your business and your personal credit rating. Once approved you can draw against your line of credit whenever you need it and you only pay for what you use. It provides security and peace of mind, as well as the opportunity to capitalise on short-term opportunities. Click here to find out more information.
|
|
|
|
|
|
|
|
|
|
|
|
SBAA Think Tank
|
|
As the Small Business Association of Australia (SBAA) Think Tank is the first of its kind in Australia, we have a lot of work ahead of us to pave t...
|
As the Small Business Association of Australia (SBAA) Think Tank is the first of its kind in Australia, we have a lot of work ahead of us to pave the way for future generations of business owners.
SBAA Think Tank will focus on research, education, policy and practice in the field of small to medium enterprises. We recognises and understand the importance of SMEs to creating jobs and growth in the private sector. Therefore SBAA is working with all key stakeholders to address issues concerning SMEs and advocating better economic policy for small business.
Following on from the recent June meeting, the Think Tank will begin working on developing a Small Business Act to be introduced into Parliament.
Initially the Act will be released as a charter for the Think Tank. This will allow us to communicate further with the small business sector to ensure we are all encompassing – like similar Acts found in America and the EU.
The goal and purpose of this venture is to give policy makers and future governments a blueprint for protecting one of the most important contributing sectors to the Australian economy that is currently drastically under protected in legislation and often bogged down in red tape; as well as being held back by inconsistencies in the laws. The Think Tank is working towards protecting rights, clearly identifying responsibilities and providing education to all stakeholders so everyone can work together to grow a stable and reliable economy.
Along with the SBAA, the Think Tank is working towards demonstrating the importance of small to medium enterprises in Australia.
Moving forward, the Think Tank will clarify what a SME is and who is a stakeholder in the definition and the Small Business Act.
If you would like more information about the SBAA Think Tank or would like to get involved please visit us at our website.
|
|
|
|
|
|
|
|
|
|
|
|
2016 National minimum wage increase
|
|
The Fair Work Commission recently handed down their latest National Minimum Wage Decision of 2.4% which comes into operation on 1 July 2016 and takes effect from the start of the first full ....
|
The Fair Work Commission recently handed down their latest National Minimum Wage Decision of 2.4% which comes into operation on 1 July 2016 and takes effect from the start of the first full pay period that starts on or after 1 July 2016.
The new national minimum wage for an adult employee is $672.70 per week, calculated on the basis of a week of 38 ordinary hours, or $17.70 per hour.
It is essential to ensure that this increase is passed on to all employees entitled to the increase, and if you have enterprise agreements or contracts these may need to be revised and/or increased as well.
Underpayment of Wages
A recent investigation by the Office of the Fair Work Ombudsman found that 47% of employers investigated in the Fast Food Industry were not paying the correct wages.
Many employers were paying an increased hourly rate which was well below the required award minimum rates to compensate for award based penalty rate payments.
Over 900 take away food workers across Australia have been repaid a total of $582,410 in unpaid wages with a total of 223 businesses implicated, with one business owing employees more than $35,000.
In some of these cases the wrong awards were being used with employees classified as Fast Food Industry workers when they should have been paid under the Restaurant Industry Award and vice versa.
With the ability to go back up to 6 years and to levy significant fines against employers who underpay their employees it is essential that you ensure that you are paying your employees under the correct award and that any agreement that you may have to pay an increased hourly rate is compliant and passes the Better Off Overall Test (BOOT).
Written by Leigh Bernhardt from Leigh Bernhardt Corporate Consulting Services.
|
|
|
|
|
|
|
|
|
|
|
|
5 Web design trends for 2016
|
|
Design trends for websites are constantly changing and improving over time, as we learn what methods of presentation work well and connect with different target audiences. The last few years have s...
|
|
|
|
|
|
Design trends for websites are constantly changing and improving over time, as we learn what methods of presentation work well and connect with different target audiences. The last few years have seen some real innovation appear in web, and these ideas have continued to trend for good reason, and below we will discuss our top 5 design trends we will see in 2016.
Hamburger menu
The hotly debated hamburger menu has divided Designers in it’s rise to popularity over the last two years. Some believe its an ugly and oversimplified way to indicate a menu, often lost in a corner while users are distracted by other busy content. Others believed it is an effective way of clearing up space for a more media-rich and minimalist website design.
Regardless of what you may personally feel about the hamburger menu, it’s rise to popularity, especially on mobile, has led to users understanding it as an interface standard. Users are beginning to intuitively realise that no obvious menu on a website means that it is tucked away, and that they simply need to locate that little hamburger icon in one of the pages corners.
Hero Images and Video
Better internet speeds and larger screen sizes have inspired a trend of rich media content in web and mobile. Large beautiful images welcome users to a website with simple statements and calls to action, these are called hero images and they aim to engage and encourage users to explore your website further.
Sometimes even multiple large hero images are used which scroll through and add more depth beyond just one opening statement, taking the opportunity to further update the user on big news and other enticing deals.
And yes, even video is becoming a popular choice over the last year. Whether they are simple clean animations, vibrant explainer animations, or beautifully filmed moments in life that reflect the ideals and products of your business, video is a fantastic way to enrich your website and build trust.
The Vertical Scroll
The vertical scroll was first popularised with mobile websites. Users have become comfortable with having all content on one long page that they can continuously scroll through. To break a Website up across multiple pages and menus risks users missing crucial information on such a small screen. Menus also take up precious screen space and are unnecessary if you don’t have much content.
These trends have carried over to desktop websites, more are shifting towards this minimalist layout. Studies have shown that humans process information fastest if its told as a visual story, so the vertical scroll coupled with rich media content has become more popular than ever.
fixed menus
Despite the popularity of the hamburger menu there is still plenty of love for the fixed menu. Whether it’s based at the top, bottom, or side of a webpage, the fixed menu is locked into place on a webpage and does not move. As a more user-friendly element you should choose this option depending on how well you know your userbase, this is a great option if your target audience isn’t particularly tech-savvy.
card layout interfaces
This style of interface helps a user sort through a great amount of content in a fast and organised way. First made popular by the social gallery website Pinterest, cards fit the user-friendly grid layout very well. It’s an efficient way to scan through a large amount of content.
Today, we see the card layout in other popular websites, from social media like Tumblr and Facebook, to e-commerce websites where the shopper can easily analyse each product. Card layouts have to suit many different screen sizes, from computer to mobile and tablet. They also work well with long-scrolling websites, easily breaking the information into modules.
For more information on updating your website to the latest trends, visit AdBuzz.
|
ERM Business Energy is on a mission to help you reduce your business’s electricity bill. Simple things like reviewing your existing contract and the rate you currently pay could see you cut dollars off the bottom line.
If you are on a standing offer for example, you could save money by switching to a market contract – which usually offers you a better rate. Also, reviewing the cents per kilowatt hour you are paying (after any discount is applied) is another way to ensure you’re on the right plan for your business. Looking at the cents you pay after discounts are applied is the best way to measure the real cost of electricity and is an accurate way of comparing prices, rather than just looking at the discount offered.
For more tips to help save on your electricity costs visit ERM’s Bsiness Energy’s website.
|
|
|
|
|
|
|
Change in Company Tax Rate
|
|
Companies with an aggregated annual turnover of $2 million or below will have a company tax rate of 28.5%. If over $2 million in turnover, companies will continue to be subject to the current 30 per cent tax rate on all their taxable income.
The current maximum franking credit rate for a distribution will remain unchanged at 30 per cent for all companies, maintaining the existing arran...
|
|
|
|
|
Companies with an aggregated annual turnover of $2 million or below will have a company tax rate of 28.5%. If over $2 million in turnover, companies will continue to be subject to the current 30 per cent tax rate on all their taxable income.
The current maximum franking credit rate for a distribution will remain unchanged at 30 per cent for all companies, maintaining the existing arrangements for investors.
These changes apply to assessments for income years starting on or after 1 July 2015.
Instant Asset Write off
Assets purchased for use in a Small business (<2m turnover) that cost less than $20,000 will be eligible for an instant write off when purchased.
Superannuation Contributions from 1 July 2016
Superannuation contributions will be capped at $25,000 per year from the 1st of July 2016. Make sure you adjust your contributions down to this level if you are currently contributing $35,000 per year.
Reportable Payments
If you are in the building and construction industry, you are required to report payments made to your subcontractors, even if they operate on an ABN.
If you are a subcontractor working in the building and construction industry, make sure you check that you are including all reportable payments in your tax return to minimise a tax office audit.
Last minute tax planning
Make sure before 30 June you have done all the things necessary to only pay the tax you have to. These include:
Paying staff superannuation on time
Write off old stock that will not be sold
Check your debtors and write off any that will not pay
Order in your consumables so you get a tax deduction for them
Finalise your trust distributions and make a resolution on your profit distribution
Check over your fixed asset register and scrap any equipment you no longer have or no longer use.
Prepared by International Professional Services. Offering the latest wealth, protection and taxation solutions.
|
|
|
|
|
Small Business of the Month
|
|
|
Ezi Office Supplies is your one stop shop for all your office needs and keeps you getting on with business. Check out what Ezi has to offer or contact their team on (07) 55286014.
|
|
|
|
|
Ezi Office Supplies is your one stop shop for all your office needs and keeps you getting on with business. Check out what Ezi has to offer or contact their team on (07) 55286014.
For more than six decades, The Australian Financial Review has been the essential source of news and information for Australia’s executive decision makers, sophisticated investors and business leaders.
Even amid today’s overload of information, the Financial Review provides Australia’s busy business professionals with the most reliable up-to- date coverage of important developments in business, markets, politics and the world.
Now you can give all your staff the same business edge by taking a Financial Review corporate subscription and signing up to our new innovative Site Licence. A Site Licence will give you, your colleagues and your staff, seamless and instant access to all the news and industry knowledge by removing the paywall and offering hassle free access to the AFR, SMH and the Age.
Equip your business with the right tools and find out more about the corporate subscription solutions available.
For more information visit: www.corporatesubscriptions.com.au
|
|
|
|
|
India – Opportunities for SME’s
|
|
India – a country of immense business opportunities beckon Australian businesses to take advantage of the investment-friendly policies ushered in by the Central and State Governments.
|
|
|
|
|
|
|
|
India – a country of immense business opportunities beckon Australian businesses to take advantage of the investment-friendly policies ushered in by the Central and State Governments.
The single-window approach of the governments for facilitating businesses and easier norms for foreign direct investments have enabled huge number of overseas companies to find a foothold in India.
The sectors of great promise for Australian companies are railways, defence, food processing, silos, tourism, real estate, solar energy, skills training, education, mining, jewellery and carpets and urban waste management.
The country has a middle-class population of 600 million and is one of the world’s fastest, if not the fastest, growing economies. English is the preferred business language throughout the country. There is a strong and trusted network among business fraternity and access to international-class professional services.
I will be happy to be a first reference point for Australians seeking business opportunities in India. I am founder of Entrepreneurs Association of India besides having pioneered micro-finance innovations. My inbound tour company would be glad to make travel arrangements for delegates coming to India from Australia.
For more information about trade between Australia and India, please visitwww.adbuzzdemo2.com.au/sba/resources/trade-and-export.
Until next time,
KV.
KVSingh is the Founder of Entrepreneurs Association of India www.entrepreneursassociationindia.com and Founder of India Heritage & Culture Tourswww.indiaheritageandculturetours.com
|
|
|
|
|
|
|
|
Words Have Power
|
|
With the increasing influence of technology, the written word is more powerful than ever. Sadly, that power doesn’t always pack a punch. Businesses suffer from not knowing how to best e...
|
|
|
|
|
|
With the increasing influence of technology, the written word is more powerful than ever. Sadly, that power doesn’t always pack a punch. Businesses suffer from not knowing how to best engage their audience.
Sometimes it’s best to engage a professional copywriter to at the very least to edit your musings.
There is a basic rule when it comes to writing for your business – put your best foot forward at all times. The internet doesn’t sleep.
You may be wondering how you do that with limited resources – but the answer is simple. Three pronged, but simple.
Don’t misspell words (or use the wrong word). I know it sounds obvious; although with the reliance on the red squiggly line in Microsoft products, many people are no longer able to tell the difference between your and you’re! It’s not a bad thing to own a dictionary and a thesaurus and to keep them on your desk for easy access and regular use. Your thesaurus can not only expand your vocabulary, but it will allow you to repeat your message without sounding like you’re repeating yourself.
Read aloud before you post or print. If you read something aloud you will read what is actually written, not what your mind wants or thinks is written. Don’t worry about looking silly in the office, better there than somewhere your customers can see. When you’re silently reading something you have written, your brain will allow you to read what you intended to write. Also, by reading aloud you will hear if your work makes sense and flows.
The most important step is the one that will affect you most long term.
Think before you post. This one I have said a lot to business people. Once a post goes live on the internet or into print you cannot get it back. You need to ensure that your piece of work, opinion and style reflects what you want to be known for. Do you want to be known for the dirty joke or for quality service? People will not quickly forget a mistake, even if it was meant to be funny. Just remember, some things are best kept between friends and not your business network.
Your voice in print or on the internet will be the first thing potential customers see of you and your business. As a business owner, you have the power to decide how you and your business appears in writing. Don’t let yourself down; polish your words like you would your shoes for a first meeting.
|
|
|
Today we are rebuilding our business and the future looks very bright all thanks to the support of the “Small Business Association of Australia”
|
|
|
Nic Dirubbo, Marlborough Park
|
The ATO is making GST record-keeping simpler for small businesses by removing several GST labels from the business activity statement (BAS).
This will provide small business owners with significant time and cost savings by simplifying account set up, ongoing book-keeping and BAS preparation and lodgement.
The ATO’s Deputy Commissioner Steve Vesperman says a simpler BAS will make record keeping an easier process for small businesses.
“Small business owners and tax professionals have expressed concerns about the cost of GST record-keeping due to the complexity of the BAS. We are introducing these changes to reduce this frustration,” Mr Vesperman said.
1 July 2017 , small businesses with a turnover of less than $10 million will only be required to report GST on sales, GST on purchases and total sales.
Information will no longer be required on labels (G2) export sales, (G3) GST free sales, (G10) capital purchases and (G11) non-capital purchases, making record-keeping much simpler.
The ATO has been working closely with small business owners, industry associations, intermediaries, and software developers and will be conducting user testing with 2000 small businesses from 1 July 2016 .
The simpler BAS will be available to all small businesses from 1 July 2017 . More information about the simpler BAS is available at ato.gov.au/SimplerBAS
|
|
|
|
|
|
|
Secret Killers of Australian Business
|
|
Earlier this year Servcorp joined forces with Roy Morgan to uncover the Secret Killers of Australian Business. The resulting research from this joint project proved surprising as well as informativ....
|
|
|
|
|
|
|
Earlier this year Servcorp joined forces with Roy Morgan to uncover the Secret Killers of Australian Business. The resulting research from this joint project proved surprising as well as informative for business owners. For example, many businesses today don’t realise that a CBD address is 8 times more likely to generate a lead for your business vs. other typical address options. And having a local landline in addition to your mobile number will mean that prospects are 6 times more likely to contact your business. However, what is the situation today? Nearly 6 in 10 do not have a recognisable CBD address. 1 in 8 only have a PO Box address or no address at all. 1 in 8 only have a mobile number as their main point of contact. The good news is that these Secret Killers can be overcome! Download the FREE WHITEPA-PER for more.
|
|