About Angus Jones

Angus started his first small business in 1989 and has since gone on to have a successful career in marketing. He realised although there were many websites for small business none was addressing the question of how to. Angus has a passion to articulate benefits that add value to customers/readers.

Wellbeing deficit 1/3 considering quiting

Research by leading workplace wellbeing expert, Groov, highlights that employers are falling short with wellbeing support, driving team burn out and fuelling the great resignation

Over a third (37%) of workers think about leaving their workplace at least once a week. With talent retention top of mind for business leaders amid an ongoing critical skills shortage in Australia, research from workplace wellbeing platform Groov (formerly Mentemia), has revealed a worrying trend among workers with one in five (20%) stating that they do not feel that their employer supports their overall wellbeing. 

The research conducted in early March, surveyed over 1,240 Australians and New Zealanders, to reveal a startling link between wellbeing support at work and employee retention. Of those feeling unsupported, almost three in five (55%) had considered leaving the company at least several times a week. 

An astonishing 36% noted that they had thought about quitting most days. This is in clear contrast to the loyalty of respondents who do feel supported at work, with this figure dropping to just 6%. This points to a concerning gap in business focus, that is driving employees to reconsider how valued they are in their current employment. 

Adam Clark, Co-Founder and CEO of Groov says the pandemic of the last two plus years coupled with the ongoing growth in millennials and younger people in workplaces has seen a re-prioritisation for employees. 

“Money is an important factor, but what we now know is that people want to feel valued, cared for and treated with dignity. If workforces don’t provide this then they are losing people, and it is the top performers and high potentials that leave first.” . 

“The link is clear, if you take the time to properly bake wellbeing into the workplace, the current issues around talent retention, recruitment, stress and burnout will hugely decrease or disappear,” states Sir John Kirwan, co-founder of the Groov workplace wellbeing platform. 

“Because you’re taking the time to show your people you care about them and value them, it makes all the difference in this current climate.”

Kirwan says companies partnering with Groov like CISCO, NSW Department of Planning and Environment, Royal Australasian College of Surgeons and Fletcher Building Australia are clearly prioritising a wellbeing culture to support employee’s mental wellbeing. 

“Businesses wanted to step up to show their employees they are serious about prioritising health and wellbeing – the challenge was to do it well and create sustained, positive change.”

Kirwan and behavioural change expert, Dr Fiona Crichton, who leads the Groov clinical team, visited numerous companies to talk to thousands of workers and leaders about what they needed, and the challenges facing them.

“Businesses told us they wanted to support their employees but at the same time, what was clear is that burnout is a real concern and retaining staff is increasingly challenging – that’s where prioritising mental wellbeing is key,” said Dr Crichton.

“We developed Groov in response to their needs. It’s a platform that makes mental wellbeing easy to consume and deliver across an organisation. The focus is on feeling good and functioning well to help the organisation, leaders and workers move into the ways of wellbeing, and then understand how to keep wellbeing going. 

Dr Crichton says the challenge for most employers is putting a company-wide mental wellbeing programme in place that meets all employee’s needs while ensuring it is sustainable for the long term.  

“It’s difficult for a leader to know what to do because everyone experiences mental wellbeing differently and everyone requires different support to improve their mental health.”

Using a step-by-step guide called the Embed Playbook, the Groov platform is implemented across three levels within an employer – at an organisational, leadership and individual level to “Embed” wellbeing into the culture of the organisation.

The unique Groov approach enables companies of all sizes to tailor a mental wellbeing programme that meets both their organisations and employees’ needs.

Rita Slogrove, Learning & Organisational Development Manager at Fletcher Building Australia commented on the success the business has already had with Groov, noting, “We’re at year three of a culture change journey. Given the industry we are in, typically a big proportion of our people don’t like to talk about their feelings or mental health, and we really wanted to change that. 2020 obviously catapulted us into doing something urgently. 

“We’ve noticed a huge increase in conversation, people are talking and feeling brave enough to support each other to do so. Through Groov we have provided them with tools around how to have a difficult conversation with someone, how to ask if they are ok and how to support someone to get help. I am excited about where we’ve got to as an organisation already with this and eager to see it develop further.”

Dave Wilson, Managing Director – IoT Global Sales for CISCO, backs this thinking and following a hugely successful rollout of Groov across Australia and New Zealand, is extending Groov to more than a quarter of the company’s 20,000 global sales team – a profession well known for high levels of stress. 

He comments “Our team’s performance is out of this world – we’ve had 18 consecutive quarters of growth – and we have one of the lowest attrition rates in the company and in the wider sales and IT industries, sitting at around two percent. That is not by chance. It’s very clear that our results are directly linked to our commitment to developing our people, looking after our people and creating an environment where they feel valued. Business used to talk about well-being impacting performance and were always pretty sure that results would follow, well we’re on the other side of that journey and I can say that results did follow.

“Groov enables us to look after and support people’s wellbeing and create an environment for them to be brave and be themselves – that’s when you get true innovation.”

The workplaces rolling out the Embed program by Groov are showing significant improvements, with employee data for “my workplace cares about my wellbeing” improving, along with up to 20% increases in individual wellbeing under the six pillars which underpin the approach by Groov.

Specifically after engaging with Groov in the workplace, there was also a large increase in employees who said they congratulated themselves when they did something well, found it easier to focus on the present moment and learned new things often or everyday. 

Adam Clark added. “What have we found is the biggest predictor of improvement? Leaders leading by example, being vulnerable, creating a place where their people can be themselves  and be at their best.”

“It is really exciting for us to see leading executives recognising wellbeing as something that is not only important, but is being approached with urgency. A culture that provides for great wellbeing is the successful organisational culture of the future. The best people, finding their Groov”

Wellbeing drives business success 

Dr Crichton says the benefit of a deeply embedded mental wellbeing framework in a company has many business benefits including retaining and motivating your best staff, attracting top talent, increasing profitability and productivity, and inspiring creativity and innovation. And who doesn’t think a more well person provides better outcomes for customers?

“People are speaking up more than ever before about the importance of mental wellbeing in the workplace. There is a generation who want balance in their life and wellbeing to be a priority for their employers, or quite literally, they’ll be out the door to somewhere that does.”

Avoid eCommerce delivery roadblocks

Unbeknownst to many shoppers, the online shopping journey – from the transaction to dispatch to safe delivery – involves hundreds of skilled people working within complex systems and stringent processes. Now, shoppers have revealed how much – or how little – they know about what goes into the journey including delivery roadblocks in a new survey by CouriersPlease (CP). 

Having won the Canstar Blue 2021 Most Satisfied Customers ranking for Small Business Courier Services – including five stars for the ‘Problem Resolution’ category, CP commissioned a survey of an independent panel of 1010 online shoppers who had made at least three purchases in the last three months. The aim was the gauge how challenging Aussies perceive the online shopping journey to be, and whether their perceptions are correct. The full survey results, across age groups and State breakdowns, can be found here: couriersplease.com.au/Toughest-Role-Online-Shopping-White-Paper

Respondents were presented with seven roles in the online shopping journey – the warehouse packer, goods dispatcher, the courier’s freight handler, the retailer’s customer service, the line-haul driver who transports parcels between depots, the fleet delivery driver who delivers parcels to shoppers, and the courier’s customer service representative. 

The results show that 41 per cent of Aussie shoppers believe customer service people have the toughest role. Specifically, 27 per cent said it was the courier’s customer service people who have the most difficult job, with the remaining 14 per cent choosing the retailer’s customer service people.   

Richard Thame, CEO at CP, says, “The results reflect the reality that shoppers really only have direct contact with customer service people on both the retailer and courier side. These jobs bring with them immense pressure to deliver a high level of customer satisfaction with empathy, patience and care while working to retain customer loyalty. A shopper’s customer service experience can be a make or break for retailers and couriers. It makes sense that shoppers also believe a courier’s customer service people have a tougher job than a retailer’s customer service people – as the ‘last mile’ is a longer and more complex journey.” 

The second toughest job, as voted by shoppers, is the retailer warehouse packer – chosen by 21 per cent of respondents, while just 12 per cent of respondents believed delivery drivers have the most difficult role. 

Respondents were also asked to choose which of the seven jobs they believe is under the most pressure to deliver customer satisfaction. Again, customer service people came out on top – chosen by 42 per cent of shoppers. Shoppers also believed that warehouse packers (chosen by 19 per cent), delivery drivers (17 per cent) and dispatchers (12 per cent) are high-pressure roles.  

Richard says: “It is important not to discount the importance of each role in the online shopping journey. There are several people involved in the process to pack and deliver parcels to households safely and quickly, and often must work together to ensure a seamless process.”  

Shopping parcels undergo a complex journey to arrive at a shopper’s doorstep. Retailers run major warehouse operations where staff record stock levels, carefully pack parcels and time their dispatch with the courier’s scheduled pick-ups. The parcel travels across multiple points in its journey to the shopper – including through multiple depots depending on their destination. At each depot, freight handlers must receive, record, sort and dispatch thousands of incoming and outgoing boxes and parcels a day. At the retailer’s warehouse, packers prepare goods for dispatch, before a dispatcher works to ensure the parcel leaves the warehouse quickly. It is a well-oiled system that enables delivery drivers to collect parcels from depots and deliver to either collection points or the shopper’s address.  

Richard says: “While every role in the journey experiences varying degrees of pressure, at CP we never take for granted a delivery driver’s demanding role. Drivers face multiple challenges they must navigate each day, from traffic congestion to dogs on properties and inclement weather – all while ensuring they deliver their daily parcel quota in a fixed timeframe, especially in the peak Christmas season when parcel volumes tend to double. 

“Ultimately, couriers and retailers work together very well to ensure consumers have the best online shopping experience possible. Couriers are, by and large, an extension of the retailers they partner with. Often the courier is the shopper’s only touchpoint with their retailer. It is important for retailers to consider possible improvements they can make to the online shopping journey, from a seamless check-out process to the most efficient deliveries.”  

5 ways retailers can avoid delivery roadblocks and keep customers happy. 

  1. Be transparent with customers about delivery timelines and any delays. Keeping customers updated on the status of their orders will minimise calls to customer service. In the current climate, supply chain issues and delivery delays are continuing. Retailers would be wise to keep customers up to date on general stock levels, packing, shipping and delivery issues on their website, emails and socials. This will reduce pressure on customer service staff and allow customers to make an informed decision when placing an order. Shipping delays related to specific orders are usually managed by the parcel delivery company through email and/or text notifications direct to the customers.  
  2. Train customer service staff to manage challenging issues. For e-tailers, the customer service team is usually the only touchpoint between them and a shopper. Customer service AI technology, such as chatbots, can solve simple customer issues. For more complex issues, a professional and efficient customer service team can turn a customer’s problem into a positive experience. Customer service staff should be trained to solve customer problems throughout the whole online shopping journey, and should also know about any external factors impacting deliveries such as bad weather. Understanding when and how to contact the retailer’s courier partner to resolve problems is also critical.  
  3. Provide alternative delivery options that could speed up the delivery process. Offering multiple delivery options, such as express delivery, parcel lockers and pick-up-drop-off parcel collection points gives customers a level of control and decision making in the way they receive their goods, and how fast.  
  4. Use a parcel delivery network with multiple fulfilment centres. Parcel partners with multiple depots in each State can speed up the customer delivery process. Multiple fulfilment centres allow parcels to be sorted faster in preparation for delivery, as it brings deliveries closer to customers. 
  5. Choose a parcel delivery partner with a proven track record. A parcel delivery company with a fast delivery track record and strong customer service, including customer notifications and tracking updates, will ensure customers receive the best service in the ‘last mile’ of the shopping journey. Investment in innovation and technology are good signs that the carrier is serious about offering the best service and fast deliveries.  

Full survey results, including across age groups and State breakdowns, can be found here: couriersplease.com.au/Toughest-Role-Online-Shopping-White-Paper

Guide to reduce plastics at work

How to Reduce and Recycle Plastics at Work is an online tool designed to help Australian businesses cut down on over one million tonnes of plastic waste they currently send to landfills each year.
The guide comes at a time when state governments across Australia are rolling out single-use plastic bags to address plastic pollution in the environment and the number of plastics being sent to landfills. How to Reduce and Recycle Plastics at Work provides information on these plastic bans and how they impact businesses as well as practical information and tips to reduce plastic waste.
“There is a great deal of concern about plastic pollution among Australians, both in terms of the impact on our beautiful natural environment and in terms of overall waste creation,” said Planet Ark co-CEO Rebecca Gilling.
“We created this guide to make it easy for businesses around the country to take responsibility and reduce, reuse and recycle plastics in their workplace.”
According to the most recent National Waste Report released in 2020, there are now more than 50 million tonnes of plastic in Australian landfills, with around 1.2 million tonnes of plastic of the 2.1 million tonnes added per year created by businesses. Perhaps even more concerning from an environmental perspective, seven of the top ten litter items collected from the nation’s largest waterways are plastic.
How to Reduce and Recycle Plastics at Work provides simple solutions to the top ten plastic products used at work making it easier for businesses to reduce their plastic impact and potentially reduce waste management costs. The guide also provides case studies of Australian businesses that have championed plastic waste reduction, how to use the waste hierarchy at work and information on plastic recycling and plastic identification codes.
The guide is a new resource from Planet Ark’s Business Recycling website, which enables Australian businesses to address their waste, increase efficiency and improve their reputation while reducing unnecessary costs. In a recent survey that ran over 50 days, approximately 400 Business Recycling users reported finding recycling solutions for over 4,000 kg of materials.
The information provided on Business Recycling and Recycling Near You is representative of available recycling services in Australia. The Business Recycling program is made possible through the support of Foundation Partner, the NSW Government. To find out more, visit BusinessRecycling.com.au.

Grants to Flood Impacted Small Businesses

Small businesses across flood-impacted regions are set to gain access to critical marketing and design support via small business champion, Vista. The design, digital and print partner to small businesses across Australia is launching an initiative to empower 25 small businesses with $25,000 in dedicated grants, aimed at supporting their road to recovery and ability to get back to business post-floods.
The impact of the devastating flood events is set to compound an already challenging period, with the 2021 Vistaprint Small Business Recovery Report highlighting that a third (32%) of Aussie SMBs felt marketing (32%) and financial support (33%) were their biggest challenges and one in 10 (10%) calling out design as their key pain point.
Open to any small business impacted by the recent flooding events, the local initiative will see 25x $1000 Vista vouchers granted for use across all products and services encompassing Vista including VistaPrint, VistaCreate, 99designs by Vista and Vista x Wix.

CEO of Vista Australia, Marcus Marchant said “Figures show around 3,000 businesses were impacted across Lismore during the recent flood events, and further north in Tweed Shire, the business community estimates more than $57 million in damages and lost trade. That is just the tip of the iceberg.

“It’s obviously pleasing to see Government action through the recent launch of Business Support Packages and recovery grants but there is always more that can be done. We know the shift from survival to truly getting back to business will take time and represents a seemingly ferocious challenge for many. We want to lend a hand where we know we can best support – and that’s through great marketing and design products that will help these SMBs showcase themselves to their communities and to the world when they are ready.”


According to recent reports, many northern NSW based business owners are still feeling overwhelmed and calling for increased support. The NSW state and federal governments are offering a grant of $50,000 to help cover the cost of clean-up operations or repairs, or $10,000 to pay wages and other bills, although business owners cannot claim both1. To date, less than 5% of the grant applications have been approved by the NSW government.


Small business nominations will be open from 26 April and close at midnight (AEST) on 26 May 2022. Those wanting to get involved can nominate themselves or be nominated by someone else via VistaPrint.

Highest food price inflation in 10 years

The latest quarterly Consumer Price Index data from the Australian Bureau of Statistics, released today, shows food price inflation accelerated in the quarter to March 2022, with food prices recording the highest year-on-year rise in more than ten years.

And consumers should be bracing for further food price rises in the coming months as the impacts of higher transport costs, supply chain disruptions and other increased input costs make their way through the system.

Headline numbers for food prices in the March 2022 quarter CPI are a 4.3% increase year-on-year and 2.8% from the previous quarter.

This is the highest year-on-year increase in food price inflation since 2011.

There is broad-based price inflation across the “food complex”, with rises recorded across major grocery food product categories.

Food price rises were the highest in the grocery channel. There was reported inflation in food service, but this was ‘softened by meals out and takeaway foods (+0.7%), which saw price rises partially offset by voucher schemes reducing out-of-pocket costs for consumers in some cities.’ 

Horticulture contributed to the food inflation recorded –  vegetables (+6.6%) and fruit (+4.9%) prices were higher year-on-year.

Higher costs of meat, seafood and dairy were also significant contributors to food price inflation in the quarter.

Higher transport costs, supply chain disruptions and increased input costs were the main cause of food price rises.

In addition, the impacts of flooding in New South Wales and Queensland – which affected some agricultural production and supply chains – started flowing through from March.

Commentary by Michael Harvey Senior Analyst Rabobank

Hybrid ways of working make you happier

Employees with full autonomy to choose where they work are happier in their job, yet only one in five are currently able to do so. And though 63% of all employees prefer hybrid working, only 45% are able to flexibly split their time between the home and office. This is according to Jabra’s 2022 edition of the Hybrid Ways of Working Global Report. Carried out amongst 2,800 knowledge workers across six countries worldwide, the report analyses employee sentiments and motivations around the physical workspace in this hybrid working era.

  • 63% of employees prefer hybrid work but only 45% are working in such arrangements
  • Only two in ten employees have full autonomy to choose where they work
  • 55% are concerned their career would suffer if they didn’t come into the office regularly

Employees say that being able to decide where and when they work positively impacts their wellbeing, happiness, and productivity levels. As hybrid working is driving the reconstruction of physical working spaces, employers need to rethink their overall working models to ensure effective collaboration and employee satisfaction.

Work from home (WFH) or work from office (WFO)  

We are entering the next stage of the hybrid working journey and employees have seen that a vast majority of them still excel at their jobs regardless of where they are. At a time when several large companies are calling for a return to the office, many employees are calling for more power to determine their own work arrangement and decide if they want to WFH or WFO. The majority (57%) of employees who have full autonomy to choose where they work are currently working a hybrid workweek. This is more than double of those who choose to work fully remote and more than triple of those who choose to work fully in office. 

In addition, employees with full control over their work arrangement (where/when) unanimously report a higher work experience score (77%) than their medium (73%) and low autonomy (65%) counterparts. These differences are most apparent when it comes to feeling a sense of belonging, productivity, trust in leaders, work-life balance, and mental wellbeing. There is also a split in opinions across generations, as Gen Z and Millennials are more reluctant to work full time in the office, with only 19% preferring a full office week, compared to 26% of Gen X and 30% of Boomers.

Autonomy will be an essential part of improving employees’ satisfaction and engagement at work and key to stabilizing the foundational pillars of organizational culture and success.

Office redesigns must be about more than physical spaces

Organizations are redesigning offices for collaboration, but the report shows that there are further considerations to bear in mind. Across all types of workers, there’s a desire to have a dedicated personal space in the office. Almost four in ten workers say they’d feel less loyalty and commitment to their company if they didn’t have a regular, permanent workspace. Meanwhile, almost seven in ten workers confess they’re creatures of habit: if they didn’t have a regular, permanent workspace in the office, they would still try to sit and work in the same spot every day.

In addition, Jabra’s data shows that as the amount of time a given employee spends in meetings increases, so too does the preference for their home office over the traditional office workspace. Of those spending more than 50% of their time in meetings, 75% prefer their home office. With eight in ten meetings now being either fully virtual or hybrid, leaders will need to think very carefully about how virtual collaboration technologies can help employees feel a sense of belonging both in the office and outside of it.

The rise of the “anywhere office”

Gen Z represents a generation not only of digital natives, but also of hybrid natives. Many began their professional career during the pandemic, so remote and hybrid work is all they’ve ever known. As such, 64% of Gen Z consider their “office” to be their laptop, headset, and wherever they can get a strong internet connection. This highlights the growing importance of technology in defining the employee experience.

These hybrid natives are also twice as likely as Millennials, and almost three times as likely as Gen X, to say that their usual workspace is a “third space,” such as a co-working space, café, or library. As Gen Z continues to take up a larger proportion of the workforce, organizations must understand these key generational differences in location preferences in order to attract the best talent and thrive in a work-from-anywhere future. Only by providing employees with relevant technology and support can they maintain productivity, employee wellbeing, and the reputation of true professionalism from any environment.

David Piggott, Managing Director ANZ at Jabra, said: “COVID presented us with the greatest work experiment of all time. What began as a necessary shift to remote work has grown into a long-term exploration of the hybrid office. We’re now two years in and need to consider how hybrid work truly impacts the workplace, particularly regarding attracting and retaining talent. It’s time for leaders to step back, listen and understand what their employees need to be productive, collaborative, and happy in their roles. Most importantly, leaders need to nurture a sense of belonging in the virtual workplace. Give employees the power to choose their desired working space and enable them to be productive in any environment with the right technology, tools, and support. In 2022, we should move beyond thinking solely in terms of WFH or WFO, and realise the opportunities a ‘work-from-anywhere’ model provides. To download a copy of the full research report, please visit: https://www.jabra.com/hybridwork/2022

Close a business

We understand this is a difficult time for you, and this guide will take you through the steps you should consider to close a business.

The most common reasons for closing a business include the business is no longer viable, costs exceeding income, or you wish to retire, and the business has no value without you.

WHY should you close a business?

There is a fine balance between the emotional desire to be successful and the reality of financial stability.  A decision to close your business might not be needed if you get some help from a business advisor or an accountant.  Similarly, they may also recommend closing your business is the best action. Unfortunately, the truth can be the most painful thing to accept.

Recognising that it is time to close your business may save you from further debt that will still need to be repaid.

If you are closing your business to retire, this can be an exciting time to start a new chapter in your life.

If you are in doubt, these are key indicators that should encourage you to question your business viability.
  • You feel you should close
  • You are losing money
  • Your goals are not being met
  • Many customers but no profits
  • Your product or service is not needed or wanted
  • Nothing you have tried has worked
  • Marketing is making no difference
  • Competitors dominate your industry
  • No long-term customers
  • Your dream is not the reality
  • Home and work life is suffering
  • Employees are leaving
  • Your health is suffering
  • Trouble sleeping
  • You have become negative and angry

WHAT are the steps to close a business?

Once you have decided to close your business, it is best if you work on a plan to achieve this. 

The first step is to decide on a date that will allow you to accomplish the following tasks:
  1. Notify your employees.  This will be difficult for them as well, and you will need to pay out any outstanding wages and leave. Also, ensure that the employee’s superannuation has been paid.
  2. Suppliers. Let them know the date and plan to pay any outstanding debts.
  3. Notify your customers.  It would be best if you showed those who have been loyal to you the courtesy of letting them know you can no longer supply them.  This could be done with a sign on your website or a phone call.  It may also be an opportunity to sell off any remaining stock or assets.
  4. Pay outstanding bills.
  5. Cancel services, including the Internet, power, bank accounts, web hosting, social media accounts, etc.
  6. Sell your business assets.  These can include stock, fixtures, tools, machinery, intellectual property and domain names.
  7. End lease agreements.  This could be for machinery or property but remember, based on the terms you have in your lease agreement, you may still be obliged to continue payments until the end of the lease term.
  8. Taxation responsibilities.  You must pay outstanding taxation debts, including income tax, GST and capital gains. There is also a requirement for you to post final tax returns and a final GST activity statement.
  9. Cancel your ABN. https://www.abr.gov.au/business-super-funds-charities/updating-or-cancelling-your-abn/cancel-your-abn
  10. Cancel your business name. https://asic.gov.au/for-business/cancel-your-business-name/
  11. Keep business records.  Records should be kept for a minimum of 5 years after you close.

HOW can I get help to liquidate?

The following resources may be useful in helping with this process:

Your accountant and or business advisor can assist you with the decisions to keep, close or sell a business.  Business advisors can be found here https://www.business.gov.au/expertise-and-advice.

Suppose a registered company becomes insolvent and goes into liquidation. In that case, a liquidator must be appointed to take control of the company so that its affairs can be wound up in an orderly and fair way for the benefit of all creditors. More details on this can be found here https://asic.gov.au/regulatory-resources/insolvency/insolvency-information-for-directors-employees-creditors-and-shareholders/.

Auction houses like Grays Online can provide a means to sell off your excess stock and assets.

Bankruptcy is a legal process when you are unable to pay your debts. It is a means that allows you a fresh start but may affect your ability to get credit, travel overseas and gain future employment. More details  https://www.afsa.gov.au/insolvency/cant-pay-my-debts/what-bankruptcy

National debt helpline provides free financial counselling  https://ndh.org.au/ or 1800 007 007

Crisis support – Lifeline.org.au  or 13 11 14

Mental health – Beyondblue.org.au or 1300 22 4636

Family dispute resolution – Relationships Australia https://www.relationships.org.au/what-we-do/services/family-dispute-resolution

HINTS

The Australian tax office provides a business viability tool to help determine if a business is still viable.  https://www.ato.gov.au/Calculators-and-tools/Business-viability-assessment-tool/

SUMMARY – a big decision for any small business owner

Closing a business is a big decision for any small business owner. Be sure that you are making the right decisions and not emotional ones. If your business is not going well, be careful in taking on additional debt.  Create a plan around closing your business and make sure you do the best for those who have supported you, like employees, customers and suppliers.  Don’t be afraid of asking for help. There are several free services to support you.

2022 Dealtracker – equity market growth

Grant Thornton has released the findings of its 2022 Dealtracker, an analysis of the Australian mergers and acquisitions (M&A) and equity markets from 2020-21**. The COVID-19 pandemic was a constant factor in this Dealtracker’s reporting period, however, it failed to reduce the appetite for deals and – in many cases – positively influenced investments with deal volumes reaching record levels not seen for over a decade. 

Dealtracker Snapshot:

  • Initial Public Offerings (IPOs) activity jumped over 700 per cent as there was huge growth in companies offering shares to the public for the first time to raise capital in response to positive equity markets.
  • Overseas acquirers remained relevant as foreign buyers continued to support our economy. Despite the pandemic and associated challenges with undertaking cross-border deals, the demand for Australian businesses remained strong.
  • Information Technology overtook Industrial as the new leading sector for the number of transactions in the market proving previous predictions. Acquirer interest in technology businesses dominated the M&A landscape, particularly amongst private equity managers, showing strong investment in innovation and digital capabilities.
  • Small and medium-sized businesses (SMEs) remained the predominant acquisition targets with a high proportion of deals having transaction values of less than $100 million. This composition is reflective of the overall corporate landscape in Australia, with the majority of businesses being SMEs.

A record period saw total IPO funds raised grow by 712 per cent to $20.6 billion. The IPOs were dominated by offer sizes of over $500 million which accounted for 43.9 per cent of the total funds raised in this Dealtracker reporting period. Comparing the previous three Dealtracker periods to this report, the average offering size has increased in all categories.

In line with the upward trend evident in prior Dealtrackers, this report reiterated the resilience of International buyers in the Australian market with overseas purchasers comprising 30 per cent of transactions, up from 29 per cent in the previous Dealtracker period. This is a validation of the attractiveness of Australian assets given the barriers that were put in place throughout the pandemic and cement Australia’s position as a comparatively better trading environment than alternative foreign markets. With the easing of travel restrictions and overall economic activity levels increase, this trend is expected to persist. Specifically, buyers from the US and Canada remained the largest volume of offshore acquirers, with 50 per cent of deals, which is higher than 43 per cent from the prior Dealtracker period. US and Canadian acquirers continued their strong focus on Information Technology business deals.

As observed in prior reports, the Australian economy’s movement from a resources-led economy to a knowledge-based service economy has been accelerated throughout this Dealtracker period. As Grant Thornton predicted in previous reports, the Information Technology sector has pushed the greater M&A activity levels overall. Technology sector deals represented 42 per cent growth from the preceding 18 month period to now exceed Industrial and have become the largest industry segment by deal volume – boosted by pandemic market conditions.

Paul Gooley, Partner & National Head of Corporate Finance at Grant Thornton said: “This Dealtracker showed M&A activity levels have been remarkably resilient. As we look forward to the economy reopening resulting in improved market conditions and the continued weight of money, we should see deal activity remain strong and diversify across a greater number of sectors.

“Notwithstanding this position, should current inflationary pressures lead to increased funding costs and lower consumer spending and investment, there remains a risk that deals activity will slow and valuations ease as we are starting to see in IPO markets.

“High M&A volumes in the Information Technology sector are predicted to remain as the importance of investing in technology is a key driver to maintain competitiveness, serve post-pandemic customer preferences, and to deploy new growth strategies across the wider business landscape.”

** The 2022 Dealtracker covers transactions during the 18 month period from 1 July 2020 to 31 December 2021. This survey is limited to going concern business sales, excluding those with a significant real estate nature and greater than $5m value. Grant Thornton’s Dealtracker was first released in 2012 and – now in its eighth edition – has more than a decade’s worth of deal activity and analysis to report.

LoanOptions a loan from an App

LoanOptions.ai is Australia’s easiest loan tool which was created to take the headache out of loan approvals.Backed by tech, LoanOptions.ai is Australia’s first artificial intelligence marketplace for personal, business and car loans. 

Whether customers need a car loan, equipment loan, personal loan, business loan, or caravan loan, LoanOptions technology and lenders merge to provide the best marketplace which takes the stress out of what is a notoriously anxiety inducing process. The loan assessment tool is powered by artificial intelligence. This means that lender information changes in real time depending on the information that is added. The progress bar in the application continues to fill up as the user inputs more personalised information.

The biggest hassle when requesting a car loan, personal loan or business loan is the dreaded approval process.

Founder Julian Fayad explains: “We are Australia’s first ever AI powered loan comparison platform. We use data driven technology to pre-approve you with the most competitive loan from over 60 banks and lenders based on your personal circumstances. 

LoanOptions.ai is the only platform that provides you with REAL quotes from lender offers that you actually qualify. Many other platforms just show the headline rate, but by the time you give them your information, you end up paying more. Our platform is designed to continuously recalculate the quotes each time you provide more information. It will only show you the offers that you qualify for. Our process doesn’t just hand you off, we actually see your loan through right to the end when the money is paid.”

Why is it so hard to get a loan post COVID?

It is more difficult to apply for a loan post COVID because lenders have become more strict on policy. Many employees lost their jobs and had to find additional jobs whilst some are still on reduced hours. 

Julian adds: “We have more than 60 lenders on the platform and our AI accurately predicts which lenders will approve the client. This takes the complexity of trying to navigate 60+ lenders credit policies and more importantly prevents you from having to do multiple applications which could hurt your credit rating.”

Why is getting a loan so lengthy in Australia?

Australia has a highly regulated and stringent financial services industry. Whilst consumer protections are a good thing, this sometimes leads to lengthy paperwork, tedious processes and a lack of common sense being used in lenders approving loans. LoanOptions.ai is able to streamline the entire process and ensure all relevant options are presented in a fair and transparent way, leading to positive client outcomes.

Banks and lenders often use old school approaches

Julian says: “They still use physical signatures instead of digital signatures, they still use manual credit assessment which leads to long wait times, poor outcomes and poor customer experiences.”

  1. Fill in loan details
  2. Fill in personal details 
  3. Choose your lender
  4. Submit application
  5. We perform checks
  6. Loan approved

Google provides tips for retailers

Renee Gamble, Managing Director, Sales, Google Australia gives us her tips for retailers ensuring you are there for ‘always on’ shoppers.

Shopping today is a digital-first experience for Australians. People are shopping more online than ever before. We’ve seen another important shift where a person’s first instinct now is to reach for their phone or laptop and look for more details online — rather than relying on physical stores to discover new products or see what’s in stock.

In fact, 9 in 10 retail dollars spent in traditional brick-and-mortar stores were influenced by digital during the most recent peak season. Looking closer, one in two Australians under the age of 55 are using Google Search to find initial information and ideas about what they might need — and this behaviour is growing. 

Why does this matter for retail businesses? With more than half of retail searches in Australia happening outside of regular working hours, if you’re not offering shoppers something to discover when your store’s doors are bolted shut, you’re missing out. Australians love shopping in-store, but stores are now a physical touchpoint in multi-channel consumer journeys. Rather than being a challenge to the store’s existence, digital’s ability to influence store interactions presents a great opportunity for brands.

The good news is that while the retail customer journey may seem increasingly difficult to plan for — there are things retailers can do now to create agile, multi-channel commerce experiences and future-proof marketing strategies.

Tips for retailers

Retailers can start by investing in first-party data, such as email addresses and purchase histories, and measurement to build a detailed and privacy-preserving understanding of your customers; how they shop, their motivations, their journeys, and what they’re doing online and offline. 

After understanding what your business already collects, you can then build your first-party data strategy across key channels including:

  • Investing in tagging infrastructure for your website to measure conversions. 
  • Add a software development kit (SDK) to your retail app to help you gather key customer insights.
  • Organise the data people share with you offline when shopping in your stores with a customer relationship management tool, then import your offline conversions to measure campaign performance — so you get a more holistic view across omnichannel retail touchpoints. 

Then, embracing new capabilities through automation that allow retailers to stay responsive and flexible even when the pace of change is hard to keep up with. 

By doing this, you’ll build a digital foundation for your business that’s reliable, agile, and – most importantly – will future proof your business.