A new survey has revealed almost half of Australian SMEs are sacrificing their hard-earned cash in fees and charges for convenience when making overseas purchases. Forty-nine (49) per cent admitted they use their credit cards when spending $2000 or more on a single international purchase, despite credit card fees of up to $90 for each purchase of this size.

The findings were derived from a survey of 202 independent business owners and decision-makers across the full SME spectrum commissioned by comparison service Money Transfer Comparison.

The three most common payment methods for overseas transactions are credit cards, bank transfers, and transfers from specialist international money transfer platforms. However, major banks charge transfer fees of up to $30 in addition to hefty exchange rate markups averaging 2.5 per cent on commonly currencies such as USD, NZD and GBP, and even higher on more exotic currencies. On credit card purchases, Australia’s major banks further slog card holders with currency conversion fees of up to 3.5 per cent. Specialised transfer providers such as Currencies Direct, TorFX and Moneycorp are the cheapest options^[1].

Convenience, and a lack of time and knowledge are key reasons for credit card use

The survey revealed a whopping two-thirds (63 per cent) of SMEs automatically make big international purchases with a credit card for convenience, while 31 per cent say they don’t have enough time to search other payment methods.

Almost 20 per cent don’t think other payment methods would give worthwhile savings, 19 per cent don’t know of any other payment methods, and 18 per cent think other payment methods seem too complicated.

According to a recent report commissioned by the Australian Competition and Consumer Commission, international money transfers from Australia are high by global standards^[2]. Credit card usage is also on the rise, according to a 2022 survey by the Reserve Bank of Australia (RBA), which shows a quarter of Australians favour their credit card in general for all payments^[3].

Russell Gous, Money Transfer Comparison spokesperson, says. “There is a wide range of overseas purchases that businesses – particularly retailers and eCommerce traders – can make regularly. Much of Australia’s goods are sourced internationally, technology and suppliers can be more affordable when sourced overseas, and business travel from Australia has rebounded strongly in the last year.  

“Our survey results speak volumes about the glaring information gap when it comes to making international purchases cost-effectively, and it’s a gap that’s hurting the hip pockets of SMEs. What almost half of SMEs fail to realise is that specialised transfer providers typically offer far better exchange rates than the big four Australian banks, with their transfer fees often 0.3 to 1.3 per cent depending on the size of the transfer. Additionally, they’re remarkably secure, and they’re easy to set up and use. Online spending is on the rise,and significant savings can be made by eschewing banks for third-party transfer sites.”

Micro businesses more cost-conscious, least likely to use credit cards

When asked if they would automatically use a credit card when making overseas payments of $2000 or more, 51 per cent of small businesses (11-50 employees) and 47 per cent of medium-sized (51-200 employees) businesses confessed they’re the most likely to do so.

Overwhelmingly, micro-businesses are the least likely to use their credit cards for overseas purchases of over $2000, at 60 per cent. This compares with 53 per cent of medium-sized businesses and 49 per cent of small businesses.

The full survey results, including breakdowns across different business sizes and States, can be found here: https://moneytransfercomparison.com/australian-business-credit-cards-overseas/.

Over the weekend, Shopify merchants set a Black Friday data record with a combined $4.1 billion in sales, a strong start to the biggest holiday shopping weekend of the year.

Please see some key highlights from Australia and globally below:

Australia highlights from Shopify merchants from Black Friday data shows: 

• Peak Sales Hour: 10AM AEST time on November 24
• Top Selling Cities: Melbourne, Sydney, and Brisbane
• Average Cart Price: $165.70 AUD 
• Top 5 Product Categories by Orders: Clothing, Personal Care, Kitchen & Dining, Shoes, and Jewellery
• Desktop Sales vs. Mobile Sales: 73% Mobile, 27% Desktop
• Percentage of Cross-Border Orders: 14% 
• % of Point of Sale: POS sales made by Shopify merchants in Australia have grown by 27% since Black Friday last year.

Global data from Shopify merchants from Black Friday shows: 

• From the start of Black Friday, our merchants’ total 2023 sales were: $4.1 Billion USD, a 22% increase in sales over Black Friday in 2022.
• Peak Sales Per Minute: $4.2 Million on Black Friday data at 12:01 PM EST 
• Top Selling Countries: U.S., UK, and Canada
• Top Selling Cities: Los Angeles, New York, and London
• Average Cart Price: $110.71 USD Globally ($110.08 on constant currency basis) 
• Top 5 Product Categories by Orders: Clothing, Personal Care, Jewellery, Shoes, and Decor 
• Desktop Sales vs. Mobile Sales: 75% Mobile, 25% Desktop
• Percentage of Cross-Border Orders: 15% 
• % of Point of Sale: POS sales made by Shopify merchants globally have grown by 33% since Black Friday last year

Shopify President Harley Finkelstein said “Another epic, record-breaking Black Friday in the books for Shopify merchants. The world showed up for our merchants, and the excitement is only building, with Cyber Monday still to come.”

With the cost of living for working Australians increasing by 2 per cent in the latest quarter, and 0 per cent compared year on year^[1], it’s no surprise that new research reveals almost two-thirds of Aussies have cash or store vouchers at the top of their Christmas wish list this year. 

The findings were derived from a survey of an independent panel of 1005 Australian adults commissioned by leading parcel delivery service CouriersPlease. The survey asked respondents what top three items they would like to receive this year as well as what product categories were the worst Christmas gift they could receive. For the full survey results, click here: https://couriersplease.com.au/portals/0/Cash%20and%20Vouchers%20White%20Paper%202023%20V2.pdf

The survey found that cash and vouchers are at the top of the list for Christmas gifts. Almost two-thirds (65%) of Aussies would prefer cash, followed closely by supermarket, department store or shopping centre gift cards (chosen by 61%). 

CouriersPlease CEO, Richard Thame, says “All five living cost indexes rose between 0.5 per cent and 2.0 per cent in the latest quarter, according to the Bureau of Statistics’ most recent report^[2]. The latest CPI inflation data indicates that the price of many services is continuing to rise, and any progress is expected to be slower than previously expected^[3]. Our research shows a shift in attitudes towards Christmas gifts, in line with these economic trends, suggesting many Aussies would prefer a monetary gift that will bring them financial relief.” 

Coming in third on the wish list, after cash and gift cards, is travel vouchers, with 34 per cent of respondents selecting this option, followed closely by restaurant vouchers (at 32% of respondents). 

Richard says, “As the cost of living continues to impact Aussies, many have no choice but to cut back or eliminate luxuries such as travel and dining out. Food in Australia increased by 4.8 per cent in September compared with the previous year,^[4] and house prices are expected to continue rising nationally by 4.9 per cent into 2024^[5], indicating that the helping hand will go a long way this Christmas.”

CouriersPlease found that all age groups in the survey are keen to receive a gift card, with half (50%) of 18-30 year olds, 65% of 31-50 year olds and 64% per cent of over 50s selecting gift cards as a top choice. 
 

Respondents were also asked what their worst Christmas gift would be, with more than a quarter (26%) of respondents choosing a secondhand item. This was unanimous across all age groups, sitting at 26 per cent for 18-30 year olds, 24 per cent of 31-50 year olds and 28 per cent for those over 50. 

Not far behind as the second-worst Christmas gift is an appliance or gadget that won’t be used, such as a ‘fad’ kitchen gadget (17%), as well as a non-functional decorative item, such as an ornament (chosen by 13%). 

Richard says Aussies have made it clear that they want cash and vouchers, not only because of their monetary value but because it enables recipients to shop sales and get more out of their gift. “As Aussies struggle with everyday costs, people can find confidence in gifting their loved ones with cash or gift cards, knowing they are making a genuine difference in their lives and gifting them something they actually want and will be of use. Our research suggests individuals are looking for gifts which allow them to experience something memorable, such as a meal out, shopping trip or a hotel stay.” 

Diversity has been a trending word in the business sector for the last few years, and while a significant number of companies have set targets and quotas, it’s apparent that many are struggling to make real change when it comes to diversity, equality, and inclusion.

A new study commissioned by COS, Australian-owned and operated company offering product supply solutions for the workplace, surveyed over 1,000 Australian workers and found that more than two thirds of people say it’s important to them that their workplace has a diversity policy. However, this need isn’t being catered to by businesses, with only 47% of respondents saying their company does have a policy, whilst a further 35% are unsure whether their company does or doesn’t.

The main reasons people said having a policy in place was important to them was: inclusion of everyone is important to me (33%), I value diversity in every part of my life (28%), it makes me/would make me proud to work for a company (17%), and diversity makes companies more successful (17%).

In positive news, 85% of respondents feel their current workplace is diverse. The main ways they feel their company is diverse are: Race and ethnicity (72%), age (69%) and gender (67%). The HR (94%), IT and Telecommunications (94%) and Architecture, Engineering & Building (92%) sectors had the highest levels of staff who felt their company was diverse, as did employees from the Northern Territory (100%), Victoria (87%) and South Australia (87%).

On the findings, Co-CEO of COS, Amie Lyone says, “There’s a significant amount of research that reflects that diverse companies are more likely to outperform non-diverse businesses, so it’s truly in everyone’s best interest to ensure this is a priority within the workplace. As Co-CEO with my sister, it’s important for us to have a strong representation of females at the leadership table and we are proud that 56% of our 60 leaders are women. Our employees also come from more than 51 different parts of the world and speak over 60 different languages. Based on the evidence of the benefits, as well as the yearning for diversity from staff, it’s apparent that while leaders may want to improve this area of the business, they simply don’t know how or where to find the time.”

How to have diversity in your workforce that will benefit the company going forward:

• Conduct an internal audit.

Before introducing a policy, it’s important to know where the business is currently positioned from a diversity perspective. Carry out a formal review of the company, everything from gender split, pay differences and cultural mix.

• Be clear on the goals.

Once the audit has been conducted, it’s important to gather the leadership team and set measurable goals. For example, reducing the gender split by 10% in 2024 or increasing the cultural mix by 15% by 2025. Once the goals have been set, leaders can also make team members accountable, by giving teams and departments individual goals. This can be included in the review process.

• Improve the company’s hiring process.

The hiring level is the number one stage where businesses miss the mark when it comes to diversity. Broadening the scope will help to open up the candidate pool with more choice. It’s also important that there is a diverse panel of interviewers to make better and more diverse hiring decisions. LinkedIn’s Global Recruiting Trends report found that diversity is a key trend that has impacted the way organisations hire their people. According to the report’s findings, 78% of companies prioritise diversity to improve culture, and 62% of companies prioritise it to boost financial performance.

• Educate and engage the whole company.

For all staff to feel included and supported, there needs to be an internal conversation. For example, at COS, the business respects the unique needs, individuality, points of view, and potential of all team members. One way to build awareness and foster inclusivity is to be aware of and acknowledge a variety of upcoming religious and cultural holidays. Use the company’s internal communication system to educate employees and be respectful of these days when scheduling meetings.

Amie concludes, “Often tasks like creating and implementing policies takes a back seat to more time sensitive items that need urgent attention, but it’s clear that employees are looking for more businesses to implement diversity policies so it’s important to take action. Hopefully, following the above process makes it seem less overwhelming and puts your company on the right path to diversity in 2024 and beyond.”

For more information on COS, visit: https://www.cos.net.au/

Throughout my career, I’ve never found an organisation that didn’t have challenges with their data. Almost by definition, applying data and analytics to business, yields issues around data quality, governance, and security, not to mention the relevance and impact of the analyses themselves. Why then, should small business be any different? In thinking about the data red flags that small businesses might encounter, while some may be universal, there are certainly others that are unique to the sector.

I’d suggest that data-related issues for small business fall into one of two main categories, the first which we’ll group as data management, followed by the second, which is business impact. Examples of these challenges are given below as well as consideration as to how they can be mitigated or avoided all together.

Data Management

Small businesses typically don’t have the luxury of dedicated teams or resources to curate and organise their data. As a result, data management can cause disproportionate problems that result in poor data quality, inconsistent maintenance, and potentially inaccurate analyses. Specific red flags include:

· Premature Data Democracy: One of the touchstones of modern data and analytics is “data democracy”, whereby data is made available directly to empowered employees, to speed up decision-making. While a tempting option for small business (due to less dependence on centralised data services), it can wreak havoc within unprepared organisations as staff take on additional responsibilities, often without training or support. Don’t assume that merely providing access to data is anywhere near enough to derive value from it – true data democracy requires a mature data culture within the organisation.

· Absence of Data Standards: It’s all too easy, within any sized organisation, to assume that everyone knows what data means, and how it is to be used. In practice this is rarely the case as evidenced by

comprehensive standards and policies in place at larger organisations. Without the ability to classify and use data effectively small businesses run the risk of committing serious errors, or best case wasting significant amounts of time. The relatively simple task of creating (and maintaining) basic data standards should not be neglected.

· Effort Acknowledgement: Perhaps the hardest aspect of managing data lies in the acceptance that both ongoing effort and tenacity are required. Data governance is often seen as a “necessary evil”, who’s demands can be ignored after initial setup or when the organisation gets busy. Truly believing that data is a critical asset, and behaving accordingly, is a practice every sized organisation must adopt.

Data red flag business Impact

Regardless of organisational size or complexity, once committed to a data and analytics program it is critical that it delivers tangible value to the business. Unfortunately, many businesses are awash in “vanity metrics” that fail to move the needle, or worse, analytics that are meaningless and just waste time and energy. Key red flags around business impact include:

· Low Data Literacy: One thing that can quickly derail a data and analytics effort is when people don’t understand the data they are working with. Likewise, despite frequent claims to be “data-driven”, leadership often fail to understand what the data is telling them and are unable to translate understanding to action. As a foundational skill it is imperative that all businesses instil basic data literacy skills across every role, and especially those with leadership or decision-making responsibilities.

· Unsubstantiated Use Cases: Much as in the case of vanity metrics it is very easy for an organisation to pour data and effort into use cases that, while possibly interesting, have little to do with business performance, or worst case are just wrong. Likewise, there can be a tendency to believe the value of specific data or analyses is “self-evident”. With limited budgets and resources that are typical of small business it is even more important to select and understand that use cases that make a difference and are worth pursuing.

· Poor Risk Awareness: Once an organisation starts getting its hand on some data and begins generating insights, it can be easy to lose sight of the fact that the data is not always correct, nor are your algorithms or models. Experienced teams factor these risks into their decisions and action plans, however smaller or less mature organisations may not even recognise the risks of a bad decision, let alone know how to mitigate it. The more valuable your data, the potentially higher the risks – plan and act accordingly.

As we can see there are plenty of challenges in getting the most from your data, no matter what size the organisation is. These data red flags may provide insight into some common areas of concern, however the fundamentals of good judgement, knowing your business, and objective leadership will always pay benefits. Remember, your data is only there to help you make better decisions – understand that and you can’t go wrong.

Contributed by Brad Kasell, Principal Technology Strategist, Domo Asia-Pacific

For some entrepreneurs, their stories start at business school. Some start working a side hustle on the side of their grown-up, adult jobs. 

My story started at age eleven during a family holiday. We were trying and failing to navigate around the airport, my entire family was stressed, and that was where a spark of an idea began. I saw a problem that needed a solution. It’s the same situation that ignites any entrepreneur’s journey. 

When we got home, I opened up my mum’s laptop and started building a website. Little did I know that this simple act would mark the beginning of my first business, which I named Planeapidea: The Wikipedia of Planes.

My vision was clear: to create a less stressful air travel experience for everyone. As I delved deeper into the business, I began to form partnerships and collaborate with some of the biggest airlines in the world. 

By 2017, I was working alongside giants like Qantas, and in 2018, I proudly added Singapore Airlines to the list. Planeapidea wasn’t just a business, it was also a learning experience that taught me the foundations of entrepreneurship – from branding and websites to partnerships and the importance of a strong work ethic.

But at such a young age, I had to make a choice that would set the tone for my entrepreneurial journey. I committed to following a side hustle that I believed was right for me, despite the doubts and concerns of others. It was my first opportunity to own my story, but not my last.

As I continued down this track, I was exposed to the opportunities of leadership and entrepreneurship, which sparked yet another idea. I felt frustrated when I saw that not all young people had access to the knowledge and opportunities I was fortunate enough to stumble upon. This frustration led to the birth of YLAA (Young Leaders and Entrepreneurs Association).

My goal was to create a one-day event in Perth where young people could embrace ambition without limitations, providing them with the chance to level up as leaders. I vividly remember my days in year 11, aged 15, spending my lunch breaks cold-calling every school in Perth.

Finally, on the 28th of August 2018, our first event took place, with 65 students from five schools. I began speaking at events, and it wasn’t long before I was invited to Hawaii to deliver a keynote speech.

As I entered year 12, something changed. I had become known as the ‘entrepreneur,’ and my ego started to take over. I dropped out of the ATAR (the Australian Tertiary Admission Rank), fully expecting to never attend university. We hosted a national tour that year, and it completely flopped. We only managed to sell 30% of the tickets, with just one school attending in Sydney. 

It was a tough pill to swallow, but it forced me to do the self-work and become more self-aware. I reflected on the ‘why’ behind our work and reshaped my mindset. The ego needed to step aside, and self-awareness took its place. 

Fast forward to today, and we’ve been selling out our events with record numbers each year, now expecting up to 12,000 attendees. We expanded our reach to include primary school programs, aiming to address the growing gap in depression, anxiety, and suicide rates among young people. We see ourselves as early interventionists focused on instilling confidence and awareness in the next generation.

In 2020, we experienced an incredible growth spurt, going from a yearly turnover of $30,000 to hitting six figures within just two months. This success prompted two significant decisions on my part: I was accepted to study for my Masters in Business, and I sought the guidance of a business coach. Looking ahead, YLAA’s current goal is to support 100,000 young people annually by 2025.

My journey from a kid with a laptop side hustle to a successful entrepreneur has been filled with challenges, self-discovery, and ultimately, success. Through it all, I’ve learned that entrepreneurship isn’t just about solving problems but also about personal growth, self-awareness, and staying true to your ‘why.’ I can’t wait to see where it takes me – and, of course, the young people we’re leading through their entrepreneurial journeys via YLAA.

Youth Leadership Academy Australia (YLAA) is a youth-led organisation dedicated to empowering young individuals to lead themselves, schools, and communities for a positive future. Through impactful in-person events and tailor-made school programs, we provide accessible leadership opportunities across Australia.

About Wil Massara

Wil Massara is a young social entrepreneur, whose journey began at the age of eleven. At 15, he founded the Youth Leadership Academy Australia (YLAA), revolutionising youth leadership nationwide. YLAA is now the largest youth-led provider, positively impacting over 30,000 lives and earning the trust of 1000+ schools. 

Australia is considered one of the quickest countries in the world to start a business with its startup ecosystem now one of the fastest-growing globally. As a nation, we’ve proven ourselves to be creative, ambitious problem-solvers thanks to fast-growth brands like Geedup, the premium streetwear label that’s mastered drop-culture and community often selling-out collections in minutes (in June this year they accrued more than $2.91M in revenue in six hours), and Miss Amara, the design-led rug brand founded by a couple who invested their life savings into the business idea in 2014, and now turnover more than $22M a year.

According to Paul Waddy, leading ecommerce expert, coach and strategic advisor who’s CV includes turbocharging the growth of some of the biggest brands in the country (such as Geedup, Miss Amara, Babyboo and Showpo), the growth in e-commerce over the past three years has been a driving force in putting Australian businesses on the global stage, creating mass opportunity for entrepreneurs and everyday Aussies to build successful online businesses.

From technology advancements, shifting consumer habits, and a global economy ripe for innovation, there has never been a better time to be an ecommerce start-up. Here Waddy enlists key factors that are transforming entrepreneurial vision into thriving digital enterprises.

Technological Advancements

Perhaps the biggest differences between today and 12 months ago is the emergence of AI into the mainstream. Not only can AI perform the tasks we previously did manually, but it can also optimise the customer experience and provide retailers with the information they need to make informed decisions. From recommendation systems that analyse customer behavior, purchase history, and preferences, AI-powered chatbots that provide instant customer support, algorithms that analyse market conditions, competitor pricing, and customer behavior to dynamically adjust prices in real-time – there are a plethora of tools at our fingertips.

Shifting Consumer Preferences

Ecommerce has brought a significant shift in consumer behaviour, offering unparalleled convenience and flexibility. With just a few clicks, shoppers can browse an extensive range of products, compare prices, read reviews, and make purchases from the comfort of their homes or on the go. Entrepreneurs in this sector have the advantage of being agile and responsive to these changes. Start-ups can quickly adapt their product offerings, user experience, and marketing strategies to align with the latest trends, giving them a competitive edge in the dynamic online landscape.

Rapid Prototyping

The ecommerce model is conducive to rapid prototyping and iteration. Shopify stores alone increased 42% year-over-year in 2023 Q3. Entrepreneurs can launch a minimum viable product (MVP) quickly, gather user feedback, and make data-driven improvements. This iterative process is essential for optimising the online shopping experience and staying ahead of competitors in the fast-paced industry.

Two-thirds of Australians are planning to take advantage of sales during Black Friday Cyber Monday (BFCM) despite cutting discretionary spending in recent months, new research from Shopify has revealed. A third of Australian holiday shoppers plan to spend between $170-$430. 

Black Friday Cyber Monday saw 52 million global shoppers spend $7.5 billion dollars with brands powered by Shopify last year. Ahead of this year’s event, Shopify surveyed 2,000 consumers and 350 businesses across Australia to learn what will motivate consumers and drive business performance over the upcoming holiday shopping period.

The study, conducted by Sapio Research, found that three-quarters (76%) of Australians have cut back on spending in recent months. Yet the vast majority of those who are planning to shop during BFCM (63%) intend to spend the same or more this year compared to last. In fact, the number of people planning to spend more (27%) is twice that of those who are planning to spend less (13%).

“Consumers are looking to make high-quality purchases that bring a sense of happiness or well being this year,” saidShaun Broughton, APAC Managing Director at Shopify. “While Australians are concerned about the rising cost of living, 80% still value high quality products that last. Retailers who strike a balance between price and quality are best placed to maximise sales throughout BFCM and other peak shopping periods.”

The prospect of finding great deals is a strong motivator for consumers, with 70% saying they will shop over BFCM weekend to get more value for their money. Brand loyalty could take a back seat throughout the sales period, however, as 84% of consumers say they will  compare prices to try and find the best deals and discounts possible. 

“Customers are certainly being shrewder when parting with their money,” said Kelly Lavery, CEO, Strucket. “It’s up to us as retailers to validate the customer’s purchase as a need rather than a want, ensure that their purchase will make a positive impact on their life, and make them feel confident they spent with the right business. Essentially they are looking for value and trust.”

“Aussies respect retailers that offer regular discounts. Shopify’s research mirrors our own data, which shows that nine in ten respondents view those retailers as ‘value for money’ – a brand perception that is particularly important in today’s cost of living crisis,” said Matthew Herbert, Co-Founder and Co-CEO of brand tracking platform, Tracksuit.

“Retailers looking to capitalise on BFCM this year should remember that it’s not just transactional. By aligning your brand with the highly anticipated sales periods, you demonstrate empathy and support. It’s an opportunity to deliver value for money to consumers while boosting sales, and fostering longer term brand loyalty and trust. It’s a win-win scenario where both consumers and retailers stand to benefit.”

The research also revealed that technology has become a core part of the shopping experience — and there’s value in embracing technology for retailers as well. Close to 1 in 4 holiday shoppers are more likely to buy from brands with technology-enabled shopping experiences (24%). Another quarter expect brands to embed technology into the shopping experience (24%), while 23% are more likely to spend money with brands that offer tech-enabled shopping experiences. 

In addition, consumers are excited about the possibilities that AI will bring as they hunt for the best deals this shopping season. More than two-thirds (69%) of shoppers believe AI will make it easier to discover new brands and products, while three-quarters (74%) believe it will help them find deals or special offers.

Interestingly, it is the biggest spenders who are most likely to adopt the latest shopping technology. Consumers planning to spend over $850 this BFCM, are also the most likely to make use of virtual fitting room services or smart mirrors (32%), use virtual assistants (31%), shop for things like furniture using spacial commerce (30%), and over a third (36%) engage with QR codes or digital display screens while shopping. In addition, big spenders are twice as likely to purchase products with personalisation, such as name monogramming, as those who are planning to spend the least.

Black Friday Cyber Monday key findings from research reveal:

Despite cutting discretionary spending, consumers are willing to pay for a great deal

• Consumers are more intentional than ever as they look to make their money go further, with 53% planning to do the bulk of their holiday shopping during the BFCM weekend. 
• While 48% of shoppers still value quality, 67% are open to switching brands based on cost savings.

Retailers are looking to tech to help manage peak sales season

• To meet the demand for technology-driven shopping, 72% of Australian retailers surveyed said they plan to increase their investment in tech to prepare for the holiday sales season.

Online and offline commerce channels are both important

• Preferences towards browsing in a shop vs browsing on an online store are almost evenly split (42% vs 41%) as the top way for Australian consumers to make new product discoveries.
• More shoppers are open to making purchases through social media platforms, with nearly 37% willing to purchase products directly on Facebook, 35% willing to buy through Instagram, 31% willing to buy via YouTube, and 26% willing to buy via TikTok. Only 16% were willing to buy from X.
• Surprisingly, 25-34 year olds are the highest adopters of social shopping behaviours with 48% being willing to purchase products on Facebook, compared to 30% of Gen Z shoppers. In addition, 25-34 year olds were more likely than 18-24 year olds to message brands on social media platforms for customer support (26% vs 24%).
• Almost a third (30%) of businesses think that, out of all the available selling surfaces, social media platforms will provide the highest volume of sales for them by the end of the decade.

A much-loved farm in Sydney’s Greater West that provides employment for vulnerable and disadvantaged people is calling on businesses to consider setting up a corporate market stall or ordering hampers this Christmas. 

Gifts with meaning and purpose are increasing in appeal for Australians, including businesses. The 2022 World Giving Report ranked Australia as the fourth most generous country in the world, with 3 in 5 Aussies making a financial donation to charity. Research has found that people give to causes that align with their values and culture, for satisfaction, because they want to give back and do the right thing^[1].

Cana Communities is a registered charity that provides accommodation and wrap around support for vulnerable people who want to reintegrate into society. It receives no government funding. An integral part of its mission is its social enterprise, Cana Farm. Located in Orchard Hills in Sydney’s Greater West, Cana Farm has been helping educate and offer extensive outreach opportunities, life skills and community involvement to severely disadvantaged people since 2011. With the help of volunteers, the farm prepares locally grown and chemical-free produce that it sells through its physical and online farm shop. The shop also sells vegetable boxes, hampers, candles, pantry items and free-range eggs. 

Cana is encouraging businesses to consider Cana Farm’s new range of corporate Christmas gifts, or to hold a Cana Farm Christmas market stall on site for their staff to enjoy. 

Proceeds from all sales support Cana’s group homes and shelters in the inner city where community members are supported to rebuild their lives. The production of retail products, hampers and gift sets, and fresh produce provides education and work opportunities for people making a significant change to their lives. 

It is also urging businesses to consider a longer-term partnership with Cana Farm. Canva, which prioritises sustainable and ethically sourced products, is one of a few organisations already supporting Cana Farm. Cana will provide healthy and sustainable produce for Canva’s internal ‘The Communal Table’ program. The program aims to bring the Canva team together to enjoy seasonal, nutritious and delicious breakfasts and lunches within inclusive communal spaces to foster meaningful conversation and connection. The first delivery of vegetables to Canva has been received and was a huge success. The delivery included kale, silverbeet, rainbow chard, bok choy, spring onions, fennel, parsley, radish, carrot, broccoli and leek. The Canva kitchen feeds up to 600 people per day, with all leftover meals donated to Oz Harvest.

“We’re excited to partner with the great team at Cana Communities to incorporate their farm’s chemical-free vegetables and produce into some of the hundreds of meals we serve to our team each day while supporting vulnerable communities and sharing Cana’s amazing story with others,” said Canva’s Global Chef Lead, Mark Hanover.

Endeavour Energy is another consistent supporter of Cana Communities. Cana is presently packaging 1700 gifts with a personalised message for Endeavour staff.

Director of Mission, Julie Sneddon, says by hosting a Cana Farm Christmas stall or buying from Cana Farm’s corporate Christmas gifts, people can ensure their money stays local this Christmas season.

“Purchasing our products helps us to provide support and continue to run the farm, which provides a place for vulnerable people to grow and flourish.”

Julie continues: “Cana Farm also offers a way for companies to engage in their corporate responsibility days. Groups of up to 25 people can come to the farm and work alongside our community mentors. 

Find the full Cana Farm Christmas Catalogue here https://www.canafarm.com.au/our-shop/christmas  

For more information on corporate volunteering at the farm or to register your organisation’s interest in hosting a Cana Farm stall, visit https://www.cana.org.au/volunteer or contact info@cana.org.au  

ACS, the professional association for Australia’s technology sector, is calling for a holistic overhaul of the nation’s skills, training, and immigration programs in its annual Digital Pulse report to be released on Wednesday which outlines the skills crisis in Australia.

The call comes as the report forecasts a crisis looming for the Australian economy with the rapid pace of change seeing 90% of Australian workers’ jobs changing in the next decade, driven by technologies like AI and robotics across most sectors of the workforce.

Chris Vein, ACS Chief Executive, said “By 2030, we will need 1.3 million additional skills to effectively utilise the technologies reshaping the Australian workforce. Forecasts from Digital Pulse suggests Australia is not on track to achieve the growth in skills we need.

“This year’s Digital Pulse is not merely a call to action; it’s a robust, practical roadmap to build the nationwide tech skills we need. We have developed the most comprehensive projections around tech skills demand through to 2030 to date based on currently available information.

“This year’s report calls for a coalition across industry, education and government to start shaping how our society will respond to the skills challenge this exciting era presents.”

This year’s Digital Pulse, to be launched on Wednesday, is the ninth since the annual survey of Australia’s technology sector was first released in 2015. Key Statistics on skills crisis from the report include:

• A lack of the right digital skills is currently costing Australian businesses $3.1 billion each year which could top $16bn by 2030.
• The pace of technology investment in Australia is projected to skyrocket from $171B in 2023 to $259B by 2030, this rate of growth is three times faster than overall business investment 
• By the end of the decade, half of Australian businesses will be using AI, data analytics and robotics but technologies like Generative AI mean businesses will need to do more to keep up with their employees shifting skills and demands
• 75% of working hours for Australian workers will be affected by key technologies, heralding a significant skill shift across industries.

In the report, ACS proposes a National Digital Skills Strategy including a skills-first education and training initiative, a national skills platform, more support for career transitions towards a tech orientated career, to boost the diversity in tech skills, programs to boost Women in Tech, and assist skilled migrants utilise their capabilities.

“The stakes are high for Australia,” Mr Vein concluded. “If the nation can get this right, we could be leading the world and guaranteeing our prosperity into the future. If we don’t seize the opportunity, we could well be left behind by the middle of the century.”