Gerald Ainomugisha

Now, other than immersion in the athleticism, is there anything else we can take from the recently concluded London 2012 Olympics? Well, there's plenty! The lessons our athletes have provided, some by having it the hard way on the world stage, are fully applicable in the business world. Some of the athletes will show you the right moves and others; well, they will show you exactly what you should avoid.

Australian CEOs are sceptical about the next six months. Many were doubtful that overall business and economic conditions would improve by the end of the year. Less than a third (31%) thought they would be better in six months’ time, while almost one in four (22%) thought they would get worse.

“You cannot run a business in these volatile conditions without keeping a close eye on all the potential risks that customers pose.” According to the latest figures from ASIC, there were 1,318 insolvency appointments in May 2012 – up 9% on May 2011 and closely following the April 2012 figures which in case you didn’t know, were the worst ever on record.

The current economic climate has often been the subject of negative opinions. Raise your hand if you have not seen a suited-up doomsayer on TV foretelling the economic Apocalypse... see, no hands! However, the responses and attitudes towards whether, and where, existing businesses are prepared to spend over the next 12 months, paint a rather fascinating picture. These guys are dancing in the rain! With 72% of business owners saying they would be happy to start up a business again, the survey also revealed 53% of owners say their business is their passion.

“Diners are hungry for restaurants to use the online space to communicate with them and it is those restaurants that make an effort to interact with their customers long before they enter the restaurant that are winning the battle.”

Leading Australian business strategist, commentator and author Kerwin Rae believes the ‘incubator’ craze gathering momentum in Australia could stem the flow of local talent leaving our shores. Meanwhile, the federal government is becoming increasingly aware that they must do something or we face economic collapse within our economy as SMEs make up such a huge portion of GDP. If SMEs fail, we fail.