Cybersecurity is quickly becoming an issue that businesses across all industries are forced to contend with. While most online businesses, financial institutions, tech companies, and large corporations have systems and policies to protect their sensitive data, these often aren’t sufficient to cope with more sophisticated modern cybersecurity threats. Worse yet, many other businesses still don’t take cybersecurity seriously, and don’t take any meaningful steps to prevent potential threats.
With multiple major players in the global economy stirring up trade tensions, it’s no surprise that businesses in Australia and New Zealand are also beginning to feel some adverse effects. While governments in neither country believe that a recession is already underway, both are seeing a notable drop in consumer confidence. The ANZ-Roy Morgan Australian Consumer Confidence index shows that Australia has reached a 2-year low in consumer confidence in July, whilst the Westpac-McDermott Miller consumer confidence index in New Zealand shows an ongoing, but unsteady decline since reaching a high point in 2014.
The escalating trade tensions between the US and its biggest trading partners, most notably China, have been at the heart of slowing global trade. It has already impacted economies all over the world, halting growth and pushing major economies toward recession. However, while there are certainly no real winners in a trade war, there are business opportunities. Even as some sectors of the Australian and New Zealand economies have felt the impacts of this global slowdown, others—specifically the mining industry—have pushed the country’s trade surplus to a record high.
Money is a constant headache for business owners, regardless of how successful your business is. That’s because business is competitive, and nobody can afford to let working capital sit around unused when it could be driving growth. Excess funds can always be used to expand production, expand marketing efforts, or develop new and more innovative products.
Business owners are increasingly opting to hire contractors over regular employees. Not only is it often more simple and cost effective to hire a contractor, the growing skills shortage combined with the rise of the gig economy and flexible work has also made it faster and more convenient to do so. However, failing to fully understand the differences between these kinds of workers is landing a growing number of businesses in hot water with the Fair Work Ombudsman.
In an ideal world, growth is smooth and predictable, allowing businesses to hire and train the workers they need when they need them. This isn’t how things typically work out, though. Often, businesses will rush to grow their team to accommodate fast-growing demand, only to find themselves overstaffed a few months later. Alternatively, they’ll be forced into a round of layoffs after a bad quarter, only to find that they lack the talent they need to recover.
While Larry Ellison’s name may sound familiar to many, it doesn’t come with the kind of recognition enjoyed by Bill Gates, Steve Jobs, Elon Musk or other top 20th and 21st century tech entrepreneurs. Despite this, Ellison, currently the 7th richest person in the world, played an important role in fundamentally transforming how businesses operate in the modern world.
In their survey of 3,400 organisations, the Hays Salary Guide has found that the number of overtime hours worked by Australian workers has massively increased by a third over the past year. 57 percent of employees work significant amounts of overtime, with 29 percent working up to 5 hours, 18 percent working up to 10 hours, and 10 percent working over 11 hours extra per week. Just 43 percent of employees put in 2.5 hours of overtime per week or fewer.
Stock markets around the world have plunged as bond markets rallied, signalling a high level of anxiety among investors. This comes after China’s recent devaluation of their currency, and the escalation of trade tensions between them and the USA. At the same time Germany, Europe’s largest economy, has announced that it is on its way into a recession. Investors are responding by preparing for more economic turbulence.
Invoice finance and supply chain finance are a great way for businesses to come up with cash on short notice. Used systematically, they can help them to generally shorten their cash conversion cycle, giving them the opportunity to invest the same working capital to produce returns more often in a given time period. The result is a generally hardier, faster-growing enterprise.