Management Matters

The 2008/2009 financial year would have to be one of the most volatile for many years. What will 2009/2010 bring for SMEs? Some say it will be tougher and there will be more job losses and some say there will be great opportunities around. Whatever the next financial year brings, every business owner needs to plan for the worst and the best case scenario.

Although there is much investment capital available in Australia, raising it can be a tough road for entrepreneurs, particularly for early-stage or start-up companies....

Last year I was enlightened by a friend about the 3 Fs of work - Fun, Fame or Fortune. This lady is a brilliant...

Most business owners stress out at the thought of redundancies. It is very important to find a middle ground (it will never be a perfect balance) between acting under the legal and commercial requirements and responding humanely to people's lives being affected so dramatically. Here are 21 things you must consider before carrying out redundancies.

How would your business cope with a 20-30 percent drop in turnover? How do business owners deal with the wave of economic uncertainty that's reported on every day in the news, and decide what actions to take to survive and guide their business through (what we all hope will be) the inevitable upturn?

For these businesses (and their owners) to survive this rapidly changing economic environment intact, they just can't continue to do everything by themselves. To be successful, they need to have an experienced team around them to provide the information, experience and support to meet these growing challenges. This team needs to be able to provide the experienced advice that is needed. They need to know how to handle a difficult economic environment. They need to be flexible. And they need to be affordable for the business.

It might seem logical to discount during an economic downturn. You need to boost sales and attract new customers. And customers are tightening their belts and shopping around for the best price. But is discounting the best option over the long-term?

Across the board, strong businesses are those that are well run and designed to withstand outside influences, or have factored in potential risks and have a plan to manage the situation.

Grow Me The Money is a 12 month online program designed to help small to medium sized businesses become more sustainable and save money....