Delivering quality customer service Every business has a basic obligation to provide customers with quality goods or services. That is, quality in the sense of delivering on a promise to a customer. It is the responsibility of a business to ensure they are not selling shoddy or unsafe products or services. However, whilst they would like every customer to be fully satisfied with […]
The start of the new year provides small businesses with the perfect opportunity to improve their credit management and cash flow conversion cycle. Cash flow was one of the biggest causes of small business failures last year, with around 90 per cent of enterprise insolvencies due to businesses putting their tax debts last to supplement their working capital. Managing cash flow is more […]
Signing a personal guarantee For those who operate their business through a company or a trust, there may be times when you need to provide a personal guarantee. A personal guarantee is a written commitment or promise from a business owner to make a payment or perform an act or duty that is owed to […]
Is a company merger your ideal exit strategy? With new business market saturation expected to occur over the next five years, businesses should consider whether a merger is their optimal exit strategy. Company mergers differ according to the industry function, the purpose of the transaction and the existing relationship, if any, between the companies. Mergers […]
Surviving the ATO crackdown Business owners would do well to ensure they do the right thing over the next three months to avoid being caught out by the ATO. The next three months will see the ATO targeting small businesses who fail to comply with their tax obligations. Even business owners who are compliant with […]
Be careful of automatic renewals in contracts Businesses should remain vigilant when entering contracts that contain automatic renewal clauses. An automatic renewal clause can lock a business into an unsatisfactory service arrangement. Any attempt to terminate the agreement during a renewed term can make the business liable to a claim for damages for breach of contract. For purchasers, the termination can be both challenging […]
LinkedIn can be a powerful platform for B2B marketing. The professional social networking site now has over 270 million users and 3 million company pages. Based on recent trends, it seems unlikely that the popularity of LinkedIn will wane any time soon. Here are some tips for maximising the B2B marketing potential of your company’s LinkedIn profile: Be active You need to be […]
Meetings are a great way for employees and employers to touch base and exchange ideas. However, if they are not carried out in an efficient manner they can end up being a drain on the company’s resources and a point of irritation for staff. In the long run, this can seriously undermine the productivity of your business. These are some simple rules for […]
Innovation is fundamentally important to long-term business success. While you may be able to take on the main role of envisioning breakthroughs for your business, it never hurts to get input from your employees. In order to ensure that your employees’ contributions towards innovation are as valuable as possible, you need to create a workplace environment in which new ideas are […]
As businesses grow, it is inevitable that you will need to create new roles and hire new staff. Adding a new member to your team is always a challenging task, and when you are hiring someone to fill a brand new position, there is even more pressure to make the right call. Business owners who are able to allocate workplace responsibilities […]
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