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The new Small Biz Matters program is all about People, Policy, Purpose. It is conversational and chatty and dedicated to empowering small businesses and their advisors to engage with policy and advocacy. Why? Because what Government does very much Matters to all Small Biz. Good and bad. A labour of love, in 2014 Alexi Boyd started broadcasting to give back to the local small business community. She knew information and support was lacking. Now with over 220 podcasts, the show is sought by PR Agencies and Government departments for its rich, informative content. Media Partners include universities, the Australian Tax Office, ASBFEO, COSBOA and international fintechs. Sponsored by the Australian Small Business and Family Enterprise Ombudsman’s office, each week we sit down with experts, advocates, business leaders, policy makers and politicians to dive into specific areas of government policy that affects your business and clients. We’ll give you a heads up on what’s coming down the policy pipeline, find out who’s fighting in your corner and empower you with ways you can influence those decisions which affect your business every single day. The program is broadcast weekly on Tuesdays live on local community radio Triple H 100.1FM, through the Community Broadcasting network, and wherever you get your favourite podcasts.
Episodes
Tuesday Feb 16, 2021
Tuesday Feb 16, 2021
Small Biz Matters – #194 Providing the small business community with educational content and advocacy since 2014
with Alexi Boyd, broadcaster, advocate and small business owner.
Date: 2 February 2021
According to our guest Ben Joseph, manufacturing in Australia is the one sector in which you SHOULDN’T niche. With tight margins, a globally competitive industry and fragile supply chains, a lack of diversification can mean you can’t adapt fast. For instance, when a global shutdown strikes how can you pivot your way out of that one? The industry, like all other small businesses, has learned a great deal from 2020. Good, solid processes, tech integration, communication and of course resilience have been necessities for survival into 2021.
Part of Josco’s recipe for success has been solid processes, access to real time data through reliable tech integration but more important than that - communication with key stakeholders. When the world shut down ‘cause of COVID they relied on those relationships to build back up again. And some were in Australia and some overseas. See, diversification in action!
But what of the future of the industry and the reality of being independent in Australia - is it just a pipe dream? Is it the industry which will drive change or does key policy makers have a role to play to shape its future.
Let’s hear from Ben, who has lots to say on the issues of the future of the industry, procedures, tech integration, communication and of course resilience necessary for survival from 2020 into 2021.
- What would you like to see in terms of the the future of manufacturing in Australia and whether it, in reality, can be sustainable?
- A “blended” approach and working collaboratively and utilising the skills in which we excel seems to work at the moment
- But the industry needs to be evolving and adaptable all the time.
- What did 2020 teach us about globalisation? The fact is there are risks as well as positives
- What is the Government focusing - innovative manufacturing, reducing the dependency on one nation as our “factory”. Innovation reduces our dependency on nations which provide labour cheaply
- Describe the affect the COVID crisis had on the manufacturing industry as a whole
- Disruption of supply chains
- Breakdown in communication
- How long did the “panic”last
- Was it a matter of survival of the fittest or was it something about your processes and procedures which meant you could survive?
- Why was being aware of your cash flow position and real time data so important?
- What about the relationships with your suppliers - did they take a beating and did you have to rebuild the trust?
- What lessons did you learn about business continuity now that you’ve come out the other end?
- Planning for the future – where do you invest and how do you make those decisions?
- What do you consider as “Innovation” when reinventing & reinvigorate your business
- Focus on your strengths
- Remote working – how to manage staff
- What are some signs to look out for in for business owners
- how to use the guide to support the conversation?
To find out more go to their website: https://www.josco.com.au/
About our Guest:
Ben Joseph is the Managing Director of Josco Australia, a trusted Australian owned and operated business supplying hand tools and power tool accessories for nearly 45 years.
Originally from Adelaide, Ben spent his formative years in Perth where he commenced his career before moving back to Adelaide and then ultimately Melbourne 27 years ago.
Throughout his working life, Ben has worked for manufacturers, importers, multinationals and iconic Australian businesses, including Hills Industries and Philips Electronics.
As the second generation in the Josco business Ben has seen the business grow from its formation in a back yard garage, to a business now operating nationally throughout Australia New Zealand and the UK, with major customers including Bunnings, Mitre 10, Total Tools and Blackwoods.
In recent years, Ben has worked actively on the business to transition the business to the generation, becoming the major shareholders together with his other director Maury Chalmers. In making this change there has been a transformation from a “family business” to a more corporate professional organisation and the disciplines associated with this. Many of these changes proved highly beneficial as the impact of COVID-19 hit in 2020.
“Trust” is a major focus for both Ben and Josco. As many of Josco’s products are used in heavy duty applications on powerful power tools, the ability of the products to perform under pressure is critical. Over many years the products have been put to the test in the toughest Australian conditions and met the challenge. Josco’s customers and end users “trust” the business and products, for their reliability and ability to get the job done.
Ben is married with 4 sons, one of whom is now the 3rd generation working in the business in a sales capacity.
Tuesday Jan 26, 2021
Tuesday Jan 26, 2021
Small Biz Matters – #193 Providing the small business community with educational content and advocacy since 2014
with Alexi Boyd, broadcaster, advocate and small business owner.
Date: 26 January 2021
Have you ever wondered what your accountant and bookkeeper really thinks? How about tapping into that wealth of expertise to gain an understanding of the transition between 2020 to 2021 and the potential impact on your small business?
Last week I was lucky enough to be invited by ReceiptBank to moderate a panel of such experts; tapping into the knowledge, experience and opinions from three giants of the accounting and bookkeeping world. With hundreds of small businesses between them, this panel brought with them not only a diagnosis on 2020 but a prognosis for 2021.
2021 is sure to be an important year for businesses as they look to bounce back and maintain consistent growth. But for this to be possible, these businesses will need brilliant business-minded accountants supporting them.
Stuart Brandman from 542 Partners, Rebecca Laut from The Business Organiser & Kaia Kaldoja - from BlueRock Books, discussed the ongoing challenges for their industry in 2021, and how cloud accounting technology can help support businesses prepare for success.
Let’s have a listen to what they have to say, and what we can learn from their expertise.
Q1 – Reflecting on 2020, do you believe the challenges the accounting industry faced in 2020 going to bleed into 2021?
Rebecca - advisory has played a major role in growth of the industry. It is a combination of services and depends on the types of businesses we work with. Particularly what at stage of their business their clients are at the time. Some will be growth phase if they were expanding whereas others are in the process of contracting, or even closing . Either way, 2020 has brought with it a more advisory focus.
Stuart – Chat about the stimulus and its impact on clients and practices. Thanks to this major change to legislation we are all playing catchup with timetables and getting back to an even playing field on compliance and challenges. What do you mean by an even playing field? Keeping on top of billable hours - practical tips around how to make
Our roles are busy enough. Finding the space to grow and keep track.
Kaia – expanding on their points and bringing it back around to technology and implementation. How does tech help us to keep on top of advisory and our OWN business growth. We have to remember we too are businesses needing to focus on ourselves!
All - Discussion - What role has tech played in the development of your business in 2020?
Q2 – So speaking of Advisory services, what does that mean from a practical perspective?
Rebecca - what does advisory mean practically? Being a partner to the business, showing interest, being supportive. Genuinely human and knowing the differences between businesses. BUT we don’t take enough time to look at our OWN businesses.
Kaia – Planning your own business should be number 1. Setting up for success. Is it crucial to use the tech products before suggesting your clients. It becomes about people power and some practices might not have the time or staffing to action this.
Stuart – how do you implement change in your own business? How has the format changed? And now we can commoditise it. Tech joining with expertise. And that is a challenge to combining your use and skill with tech and then conveying the message to your clients
All - Discussion - So if the concept of Advisory has evolved because of 2020, did tech evolve fast enough to keep up? In terms of advisory what app in your stack could you not live without?
Q3 - Implementation of tech - how do we find the time to transition to use it better and switch to advisory.
Stuart - what are some practical ways to translate the tech and advisory and compliance?
Stuart
Firstly ask yourself WHY you’re implementing the technology? What is going to enhance the message? THEN look at the best option. Then look at your team & clients likelihood of using it.
Kaia – practical tips for implementing tech with clients. The client needs to be able to USE it. Get the team on board - set up a competition! Don’t forget your clients needs to know how to use it soo!
Rebecca – If you’re listening as owner of a a smaller firm, what do you suggest in terms of implementation?
All - Discussion - Do bigger firms implement tech better because they have the manpower to access, learn and deal with change management?
To find out more go to their website: www.jimmyhalfpenny.com.au
About our Guests:
Rebecca Laut - Director at The Business Organiser
Rebecca is a cloud software specialist who supports businesses in the design and implementation of cloud technology platforms. Rebecca's work is focused on improving businesses overall efficiency and increasing insight across their financial performance. Recently Rebecca led the technology component of PwC’s Outsourced Finance Solution before moving on to build out a new tech advisory offering in her family business The Business Organiser. In her previous roles with global accounting platform Xero, Rebecca was at the forefront of technology disruption having exposure to global markets and fast-paced growth when the organisation went from start-up to international tech darling.
Kaia Kaldoja - Director at BlueRock Books
Kaia joined BlueRock in 2018 as their superhero Head of Bookkeeping, but her origin story is a little different to most superheroes – she got her first taste of the bookkeeping life by helping her parents painstakingly enter stock orders one by one into an ancient point-of-sale system. This is where Kaia’s love of all things process automation and cloud system integration came from. Kaia gets really excited about new software and cutting edge business technologies that make life easier for clients.
Stuart Brandman - Director at 542 Partners
Having worked in large mid-tier accounting firms for nearly ten years, prior to founding 542 Partners, Stu has worked with a range of businesses in financial accounting, advisory, taxation and business planning matters. Stu specialises in providing virtual CFO services and real business solutions and advice to his clients. From implementing the appropriate accounting software, providing accounting and business advice and conducting strategy sessions, Stu has an impressive skill set.
Tuesday Jan 19, 2021
Tuesday Jan 19, 2021
Small Biz Matters – #192 Providing the small business community with educational content and advocacy since 2014
with Alexi Boyd, broadcaster, advocate and small business owner.
Date: 19 January 2021
Despite changing location, updating tech to stay home, avoiding contact with others, and moving all of our pertinent business data into the cloud we still manage to be interrupted by people with those pesky online meetings! You can’t escape meeting people on a screen but is this new way of interacting an improvement to the way we work; or one giant distraction? Depending on who you talk to and without the right tools, it can certainly be a headache.
So, what’s your Tool of Trade when it comes to online meetings? Have you applied a bandaid to solving the problem with a simplistic software add-on to your app stack or actually thought about what’s best for you and your stakeholders; your employees, your clients and importantly your business itself?
It takes a giant of the tech world to move quickly to adapt along with small business. Companies like CISCO has also adapted in their tech hardware offerings and they recently launched over 150 new features to their WEBEX product. Being at the forefront of worldwide tech means they can be a resource to small business to help us understand what’s available and what these changes mean in 2021 and beyond.
I recently joined CISCO at their worldwide launch and spoke to Peter Self, Director Sales Operations - ANZ Collaboration at Cisco about their vision behind WEBEX and how technology can improve the online meeting experience for all.
- How the introduction of systems like Webex can encourage collaboration for small businesses, despite meetings not being in person.
- Spontaneity & equality seems to be a foundation of the new design. Why is this going to revolutionise the way we interact digitally?
- Meeting templates
- End to end encryption
- Hotdesking for small business capabilities
- Noise removal – no morer you’re on Mute!
- Immersive sharing
- What does the mass movement towards online meeting to the concept of community coworking spaces? Has CISCO seen a shift away or a renewed enthusiasm for coworking with everyone returning to their “offices”?
- Are you going to continue to engage with your small business IT management teams you currently utilise to grow the small business market?
- What makes WEBEX different from it’s competitors?
- Hardware will be open but integrated with webex
- How are you going to train all these small businesses on a whole new system with all these new features ?
To find out more go to their website: https://www.webex.com/
More information on Webex:
Cisco has always been at the heart of innovation and enabling businesses to collaborate. Webex has a rich history of helping employees innovate and remain productive wherever they are. Since the pandemic, Webex has not only continued to help businesses thrive, it has also been an integral platform for governments to continue to lead remotely, doctors to meet with patients safely, and educators to teach students at a distance.
The announcement of the latest innovations come as companies across the world are preparing for a ‘hybrid’ future of work – where employees move between office-based and remote working with greater frequency – in a post pandemic world.
Recently, Cisco announced a wave of new Webex innovations that enables seamless, smart and secure collaboration for organisations to deliver the best inclusive virtual experiences that are 10x better than in-person interactions.
The all new Webex provides a single secure place for connecting and getting things done – call, meet and message in one app. New features include:
- noise cancellation and speech enhancement
- transcriptions and closed captioning
- highlights and action items
- real-time language translation
- In-meeting gestures powered by body movement recognition
- enhanced video layouts and Webex Huddle (spontaneous meetings with a single click)
- a number of AI-powered features in messaging and new calling features help you focus on what matters most
About our Guest:
Peter Self is the Director for Cisco Collaboration in Australia and New Zealand. In this role, Peter is responsible for the continued growth and adoption of Cisco’s Collaboration technology in the context of all Cisco’s technology and services within Australia and New Zealand
Monday Jan 11, 2021
Monday Jan 11, 2021
Small Biz Matters – #191 Providing the small business community with educational content and advocacy since 2014
with Alexi Boyd, broadcaster, advocate and small business owner.
Date: 11 January 2021
Apparently, there’s a fair amount of government money flying around as a result of a pandemic and it’s up for grabs if you just know where to look. No matter which side of politics you fall we all have to agree that the Australian economy and the Australian Government came into this COVID induced recession in the best possible position.
And small businesses should be at the front of procuring and receiving this investment. We are, after all the engine room of the economy, the most innovative sector and the collectively, the biggest employer.
So how do you access, apply for and eventually receive a piece of this pie? Of course there are processes to follow (as all things government) and these can be onerous (because Government) and difficult for small businesses to understand.
Joining us on Small Biz Matters this week is Thomas Pollock from THINQ Learning, who will give us top tips on making your business grant-ready so you can confidently apply for that pool of government funding a grow your business!
QUESTIONS
- Is it true that many small businesses don’t bother to compete for government contracts, simply because they believe larger corporates will always beat them?
- What holds a small business back from competing for a government contract?
- How valuable can Government contracts be to small businesses?
- Through your book as well as you own personal experience as a business owner, you understand how to win government contracts. Can you share some of your secrets?
- Can a business survive on government contracts alone?
- If you were a small business owner today, and you’d just made the decision to try and win Government business, what would your first steps be?
- Why does business need to know about the process and how is it different from winning other clients’ business?
- In your book you talk about the importance of small business increasing their ‘Government IQ’. What exactly do you mean by that?
- What not to do – what can listeners learn from your experience at missing out on winning that lucrative Govt contract
- Does it make a difference if you’re dealing with state, local or federal level of government?
- Is the process fundamentally different when applying for grants as opposed to winning govt contracts?
- Any advice to a small business which has just won its first Government contract?
- Through your tool, what are the main areas that your experience has shown small businesses need to work on?
To find out more go to their website: https://thinqlearning.com.au/
About our Guest:
Thomas Pollock is the Founder of THINQ Learning, and the author of the book Winning Government Business: The 6 Rules and 9 Absolutes for Small to Medium Businesses. In a continuing 22-year business journey, Thomas progressed from BDM, to Operations, Sales, then General Manager of an education and professional services organisation. Realising that the business was missing out on one of the biggest revenue pools, Thomas set himself the task of finding a way through the confusing maze that Government procurement can be. Following a lot of hard work, wins, losses, and everything in between, Thomas ensured 23% of the business's total revenue came directly from the Government sector, easily making it the largest customer for the business.
Thomas's working life is now taken up with THINQ Learning, helping Queensland small businesses find and open Government revenue streams, and ensuring they don't make the same mistakes he did.
Monday Jan 11, 2021
Monday Jan 11, 2021
Small Biz Matters – #190 Providing the small business community with educational content and advocacy since 2014
with Alexi Boyd, broadcaster, advocate and small business owner.
Date: 11 January 2021
Many would say 2020 may not have been the perfect time when it came to setting up an art gallery in suburban Sydney but it WAS the perfect time to bring together community, support local small businesses and offer a platform for creative minds to flourish in a difficult time.
So really, it WAS the perfect time to establish a suburban art gallery!
So what does it take to set up a creative space in the middle of a pandemic? And, to make it a success? With a background as teacher, artist and creative, Melony Smirniotis knows how creativity can both foster innovation and support the community. As she states, “The art making process nourishes, challenges, provokes, humbles and provides grounding and perspective”
Coupled with a desire to provide artists with a space to shine, Melony recognised the potential of the Epping community and the resilience of it’s artists to create a space in which the whole community could benefit, and prosper. Today, she hopes to help other businesses to learn from her experience, innovation and creative success.
- Why build an Art gallery in North Epping?
- How did you recognise the potential for what is essentially quite a suburban landscape? How did you research the area to create an artistic space that would be welcomed into the local community?
- What part do you think local, community based
- How do you choose Artist's to exhibit and also to teach workshops?
- What does it take to recognise artistic talent in others, what background do you need?
- How do you sustain momentum in regard to innovation? How do you keep content fresh and constantly evolving?
- Describe a few of the upcoming exhibitions in regard to narrative and practice and the way they fit into the local community and the broader artistic community?
To find out more go to their website: https://www.gallery1111.net/
About our Guest:
Melony Kara Smirniotis, a textural expressionist, is the founder and owner of Gallery 11:11 Studio and Art space in the leafy suburb of North Epping. Completing a Bachelor of Fine Arts at the University of Western Sydney, Nepean in 1998 marked the beginning of taking her artwork to a new level. Post University studies, teaching, exhibiting and curating have been Melony's key areas of focus in the past two decades.
“The art making process nourishes, challenges, provokes, humbles and provides grounding and perspective. My surroundings constantly influence her technique and choice of materials”.
Melony has a permanent body of work showcased in her gallery and in the Blue Mountains at Gallery One88 Fine Arts. She currently works from her gallery / studio in North Epping, Gallery 11:11 Studio & Art Space.
Texture and colour, light and movement remain a constant source of painting inspiration. Such elements are observed and recorded on a conscious and subconscious level daily. This collection of thoughts and experiences tend to build and then eventually pour out into the canvas. She remains open to the concept of change pushing herself to engage in the exploration of tools and mediums. Her constant is the tactility of her work and the subject matter that being nature. Melony aspires to create work that evokes emotion and warms the soul, celebrating natural surroundings.
Thursday Dec 10, 2020
Thursday Dec 10, 2020
Small Biz Matters – #189 Providing the small business community with educational content and advocacy since 2014
with Alexi Boyd, broadcaster, advocate and small business owner.
Date: 30 November 2020
It’s pretty difficult these days to run a small business and be free of the conflict experience. From managing staff to negotiating with suppliers and clients, it’s bound to happen at some point. And then there’s the serious conflict scenarios such as between business partners or family members which, when you add personal life into the mix, can be very destructive.
Because we ourselves are human who are dealing with humans we can come across conflict pretty regularly in our everyday business dealings.
So if the human aspect of running a small business can’t be removed and the threat of conflict is ever present, what can we as small business owners do to mitigate the risk? And when is the best time to seek help when it threatens to overwhelm you and all you’ve worked for?
As always, it’s always best to get support before your business is threatened so here today with us is Tulsi van de Graaff, Conflict Expert with Brave People Solutions to take us through some strategies and help us understand what conflict resolution looks like and how it can help.
Topics we’ll be covering:
- What the difference between working with corporates and small business
- It’s a missing link – the people side of things breaking down undermines everything
- Everyone is tiptoeing around issues, not calling out the wrong or inappropriate action
- What do the steps to reconciliation look like?
- How do you recognise conflict before it becomes all out war?
- Signs that things are unravelling
- How do you miss them?
- Is it just a matter of being present in the office? No, it goes to the hart of communication and being valued. We need to know what our role is, and what the expectations are.
- The timing is important.
- What do the conversations look like ?
- Start with the basics – do what is my role?
- Without that people can feel unsupported.
- Teaching the leaders how to lead – and that can be you the business owner.
To find out more go to their website: https://bravepeoplesolutions.com.au/
About our Guest:
Tulsi is a partner at Brave People Solutions and a former lawyer with a psychology degree and a mediation, coaching, investigation and counselling background. For the last 10 years she has worked with organisations including small businesses, to solve their communication, conflict, leadership and workplace culture challenges and build impressive and strong teams, leaders, and workplaces.
Tulsi presents on various topics including communication, conflict resolution, building a positive performance culture and leadership and teaches Masters of Science students on Communication and Conflict Management. She has written articles on a range of topics including resilience, communication, conflict resolution and building a positive performance culture including for Wellbeing Magazine and the Australian Journal of Pharmacy.
Tulsi previously worked at the Australian Human Rights Commission investigating and mediating discrimination complaints, was a child protection investigator for the Department of Education and a pre-marriage counsellor for CatholicCare.
Tulsi is also a passionate volunteer at Dress for Success, a charity that supports women in need find employment and runs workshops including on resilience, self esteem and confidence.
Tuesday Dec 08, 2020
Tuesday Dec 08, 2020
Small Biz Matters – #188 Providing the small business community with educational content and advocacy since 2014
with Alexi Boyd, broadcaster, advocate and small business owner.
Date: 19 November 2020
Small Biz Matters is proud to announce our ongoing collaboration with the Australian Small Business and Family Enterprise Ombudsman through regular updates from Kate Carnell about all ASBFEO is doing to advocate and support small businesses.
In the third of the series Kate Carnell will update us about ASBFEO’s response to the crisis facing small business. This week we’re updating you on:
- Insolvency changes and access to funding for small business
- Access to funding
- What’s the Australian Business Growth fund and how can small businesses access this resource?
- The latest update on the Business Funding Guide - further improvements thanks to the learnings from COVID; the changes to trading conditions and a practical HOW TO pathway to becoming financially fit
Kate Carnell, as an independent advocate for small business owners, has the legislative power to influence our nation’s lawmakers, ensuring legislation and regulations are put in place to help small businesses grow and in these times, survive.
Welcome back to the show Kate Carnell.
- Insolvency changes and access to funding for small business
- Why is it so important that small businesses are aware of these changes and the associated timelines?
- What do the reforms mean to the way you structure debt when you are restructuring or winding up a business
- Who is at risk of failure?
- Access to funding
- How has ASBFEO assisted with encouraging Federal policy makers to make it easier for small business to access finance?
- What’s often at risk when increasing funding
- What’s the Australian Business Growth fund and how can small businesses access this resource?
- Why was this established and who is eligible?
- Where has this model come from?
- The latest update on the Business Funding Guide - further improvements thanks to the learnings from COVID; the changes to trading conditions and a practical HOW TO pathway to becoming financially fit
- Commercial tenancies - who’s helping who here?
- Insolvency laws and what it means to be trading insolvent right now
To find out more go to their website: https://www.asbfeo.gov.au/
About our Guest:
The Ombudsman - Kate Carnell
"In this role I will seek to bring together the many voices within the small business community in a way that promotes growth in this vital sector."
Kate Carnell is the inaugural Australian Small Business and Family Enterprise Ombudsman (ASBFEO).
As the ASBFEO, she is an independent advocate for small business owners. Her office has the legislative powers needed to effectively influence our nation’s lawmakers, ensuring legislation and regulations are put in place to help small businesses grow.
The ASBFEO office also provides small businesses and family enterprises with assistance should they find themselves involved in a business dispute.
Small businesses are the engine room of the economy; it’s a big reputation to live up to, so we need to do all we can to ensure they have the freedom to innovate, employ and thrive well into the future.
About ASBFEO
Australia is a nation of small businesses and family enterprises. It’s a dynamic and exciting sector that allows people with an entrepreneurial spirit to pursue their dreams.
One of the fastest growing in the economy, the sector presents many opportunities – and challenges – for those who dedicate themselves to pursing a small business venture.
The ASBFEO's role is to support small businesses and family enterprises to enable them to grow and thrive.
The ASBFEO was launched on 11 March 2016 and has two key functions: to assist and to advocate for small businesses and family enterprises.
ASSIST:
We understand the challenges facing small business owners. We provide access to dispute resolution services for those who may be involved in a disagreement, so they can try and find a solution to their problem without having to go to court.
ADVOCATE:
There are a number of different activities the Ombudsman may conduct in fulfilling the role of small business advocate. Broadly these include:
Conduct inquiries and research
Work with other arms of government
Contribute to other inquiries
Promote good business practice.
Thursday Nov 19, 2020
Thursday Nov 19, 2020
Small Biz Matters – #187 Providing the small business community with educational content and advocacy since 2014
with Alexi Boyd, broadcaster, advocate and small business owner.
Date: 19 November 2020
In the world of small business data is everything. It helps us to control cash flow, maintain client relationships, streamline basic and complex processes and give us the confidence to know the decisions we make are based on real, up to date information.
And the explosion of cloud based accounting software is what has given small business a power of on-demand financial data to be used in ways we could not have dreamed of only a few years ago. In fact, in times of crisis it’s been a saving grace - the one true source of truth.
But what other ways, beyond how YOU process data, does it have the power to drive change?
I’m delighted to be joined today by Trent Innes, Managing Director of Xero Australia & Asia to talk to Small Biz Matters about the power of data not only to drive the direction of your business but how it guides Govt policy and influences key decision makers all the way to the top.
Topics we’ll be covering:
- Can you tell us about the Xero Small Business Insights program and the reasons for establishing it? To whom do you deliver the info and how does this powerful data guide policy?
- What trends have you been observing in small business in recent months?
- What do you believe to be the role of software companies when it comes to the power in this data and an advocate role?
New September data indicates positive signs of revenue and jobs growth in Australian small business
Xero, the global small business platform, has today released new data on the health of Australia’s small business sector in September from its Xero Small Business Insights (XSBI) program, in partnership with research firm AlphaBeta (part of Accenture).
Based on anonymised and aggregated data of hundreds of thousands of customer records, the latest XSBI analysis shows the small business sector experienced its fastest revenue growth in six months and a jobs increase after a two-month pause.
Revenue growth fastest in six months
Small business revenue grew 5.2% year-on-year, the fastest pace since March 2020. This is just above pre-crisis average annual revenue growth of 4.6% (July 2019 to February 2020).
Victoria, where lockdowns continued in September, recorded a 0.4% year-on-year revenue rise for the month, which was a significant turnaround from the 6% year-on-year decline recorded in August. Victorian health care (+10%), manufacturers (+8%), professional services (+9%) and retail trade (+8%) underpinned this year-on-year revenue growth result.
Despite the rise in revenue in Victoria, the state is still lagging the rest of Australia with revenue growth almost five percentage points lower than the nationwide outcome.
Jobs growth after two months pause
After largely flat results in July and August, small business jobs rose 0.8% in September and have now recovered around two-thirds of the losses experienced when the crisis hit.
As with revenue, the national result was helped by Victoria, where jobs rose 0.9% in September after falling 3.6% between end June and end August.
Despite the rise in small business jobs in September, the Victorian labour market situation is by far the most challenging across Australia. Victorian jobs are still 10.9% lower than they were prior to the pandemic.
The most positive news around jobs in September was the rise in the two hardest hit sectors so far, with hospitality (+3.2%) and arts and recreation (+2.5%) both recording a growth month-to-month. Although both sectors are still well below pre-crisis jobs levels, at -12% and -15% respectively.
“It is encouraging to see national revenue figures returning to pre-COVID levels and industries that were hit the hardest – hospitality and arts and recreation – experiencing a growth in jobs. While small business has been showing a promising recovery, there is still a lot of support needed by the sector to continue this upward trajectory and ensure it can sustain any further turbulence. The September data also provides optimism of a steady rebound in Victoria as restrictions continue to ease,” said Trent Innes, Managing Director Australia and Asia, Xero.
Casual jobs led the downturn but are now leading the rebuild
XSBI data shows that casual employees were hit hard by the onset of the pandemic, when small business casual jobs fell 25% in late March and early April. From June, casual workers began to be rehired and employment of casuals has risen by 24% since the trough of late April.
There is however still some way to go to return to pre-pandemic small business casual employment levels which remain 5.7% below pre-crisis levels. This is a bigger shortfall than the overall job situation, which has small business jobs 3.9% lower than pre-crisis levels.
Payment times remain faster than pre-crisis level
In April and May average payment times rose slightly with small businesses waiting on average a day longer in April to be paid than the 25.4 days they waited in February. However, this trend reversed in June and by September, small businesses reported that average payment times were 24.1 days or 1.3 days faster than before the pandemic crisis.
"Continued improvement in payment times to small businesses will be pivotal at this time. This can ease the strain the pandemic is placing on cash flow and boost confidence for businesses to rehire. This month is a critical one for small businesses and their employees with various government support measures either coming to an end or getting adjusted. The XSBI October data will provide early indications of how small businesses are adjusting to the new policy settings,” added Innes.
To find out more go to their website: www.xero.com/small-business-insights/
About Xero Small Business Insights
The Xero Small Business Insights (XSBI) program provides analysis on the sector’s health, with its metrics based on anonymised, aggregated data drawn from hundreds of thousands of subscribers. The result is a picture of business conditions that’s more accurate than most private surveys, which typically have a far smaller sample size, and more frequently updated than much of the data on small business. Xero is currently producing a series of specialised monthly metrics, providing a view of the impact of COVID-19.
About our Guest:
Trent Innes is the Managing Director of Xero in Australia and Asia, the global small business platform. Guided by a strong people focus, he has developed and grown Xero's teams around a common purpose: to help small businesses to thrive. Passionate about the power of using data to help policymakers make informed decisions, Trent launched Xero Small Business Insights in 2017, the first true snapshot of the sector’s health. Since launch, the insights have helped to shape thinking on the Australian small business economy. Trent is also passionate about fostering a thriving technology industry in Australia, and using collaboration to bring this to life. In 2017, Trent was named Managing Director of the Year by CEO Magazine.
Tuesday Nov 17, 2020
Tuesday Nov 17, 2020
Small Biz Matters – #186 Providing the small business community with educational content and advocacy since 2014
with Alexi Boyd, broadcaster, advocate and small business owner.
Date: 17 November 2020
It’s all about Local right now. Shop Local, Buy Local, Support Local - it’s everywhere! And it doesn’t get more local than your local council. Their role in the community is constantly evolving - it’s not just about Rates, Rubbish & Roads these days; we have an expectation that our local representatives understand how we operate not only as citizens but businesses too, and support us in that journey.
Some councils achieve this brilliantly and others not so much. But could that be because you’re not telling them what you need from them as a small business? But how are they supposed to represent you if you don’t actually communicate what you need?
Bottom line is you’re not allowed to whinge about the problem unless you’re part of the solution. So that means explaining what’s wrong and how they can fix it. What do you need as a business to grow, create jobs and, as they say, keep it local.
Joining us today is Steven Head, the General Manager of Hornsby Shire Council to explain how you as a small business (and community leader) can communicate what you need. They’re open and willing to help!
Welcome to the show Steven.
Topics we’ll be covering:
- There’s a bit of confusion about what role Council in general plays in small business compared with State and Federal Government. So, can you explain how does Hornsby council currently support and consider small business in it’s approach to each of these:
- Waste
- Environment
- town centre planning
- (others?)
- Tell us about the economic development strategy which is currently being considered by Hornsby Shire Council. What’s going to change and get better?
- What would the council like to hear from the small business community to make things better for them?
- Contributing to strategies when they’re available for consultation
- Chat to your local representative
- Call the council and ask for help!
To find out more go to their website: https://www.hornsby.nsw.gov.au/business and to https://hornsby.localised.com.au/.
About our Guest:
Steven Head has been general manager of Hornsby Shire Council since 2018. Prior to that he was Head of Network Sydney at the Roads and Maritime Service. Most of Steven's career has been in local government, including time at Ku-ring-gai, Parramatta and Willoughby councils. He is a passionate supporter of the role of local government in improving local communities.
Tuesday Nov 10, 2020
Tuesday Nov 10, 2020
Small Biz Matters – #185 Providing the small business community with educational content and advocacy since 2014
with Alexi Boyd, broadcaster, advocate and small business owner.
Date: 10 November 2020
I realised recently that I haven’t had a real life disruptor on Small Biz Matters before. Someone who recognises early the potential, uniqueness and well, the magic of their idea. Coupled with a desire to make true change, disruptors are a special type of entrepreneur.
Carl Gough, the Founder of MeetMagic is one such individual. Listening to him you can’t but get swept up in his excitement in making real change in the events and conference industry. He’s a passionate disrupter.
Along with all the corporate execs, software partners and the Starlight Foundation he supports, he is like a bull at the gate, ready to make you rethink your preconceived ideas and bring you along for the ride.
Welcome to the show Carl.
Topics we’ll be covering:
What do you think is inherently broken about the business growth market?
- So before all this why did people go to conferences
- Has COVID broken the conference system or was it broken beforehand?
o The disingenuous lunches & conferences, speed dating
o Time waster & time is becoming more and more precious
o The badge scanning & out bounding marketing process
o The huge cost, the ego stroking and the missed opportunities
- This is the structural shift
- COVID is the Closing ceremony of the industrial revolution
- Other examples happening now – remote health, remote learning,
Did you recognise quickly that your business was going to be disruptive? What advice would you give a small business on the cusp of being a disrupter?
- Recognise it because people try and shut you down and through this they show you their fear
- Recognise quickly who you’re disrupting and keep it from them
- You need to have some background knowledge if you’re going to disrupt
Do you need to be lean to be a disrupter?
Partnering with a not for profit – how has this benefited your business growth?
- Talk me through the passion for purpose model – its not just a line on your balance sheet, you need to be genuine
- How do you build a relationship with the charity – your key stakeholder. Look at existing fundraising models or build your own?
- 50/50 model
- What’s your story?
- The inception, and what motivated Carl to start meetmagic.
- How we engage and are received by the tech community (vendors who purchase our meetings).
- What motivates executives to pledge their time to meetmagic.
- The importance for charities to have an alternative stream of funding, especially with the current climate of covid and the resulting charity fatigue experienced by the public.
To find out more go to their website: https://www.meetmagic.org
About our Guest:
Carl Gough - meetmagic Founder and CEO
Carl is a fundraiser, a social entrepreneur and an enterprise sales & business development executive. Hailing from Nottingham, the land of Robin Hood, Carl holds over 17 years experience in Business Development in the IT industry globally. After making the leap from the IT industry to the non profit space, Carl realised the uphill battle that is fundraising. Combining his understanding of the challenges faced by both charities and tech vendors, Carl applied his innate ability to open doors for people to build the brainchild that is meetmagic. He is an inspiring motivator of people and has a hands-on practical approach to making business work. As a rapid new business growth specialist he is the unending energy force behind the success of meetmagic.
About MeetMagic
meetmagic started as a way of disrupting how charities raise funds sustainably by helping the corporate world make better connections. What we do is simple. We curate meetings between executives and problem solvers from leading global tech companies. Vendors get instant access to corporate leaders and leaders gain access to the best problem-solvers for their company's current and future needs. Execs donate 45 minutes, vendors purchase their time, and 70% of the meeting price goes to charity.