There are certain developments in the technological realm that have an impact on your small business.
Here are the top 4:
- Twitter has stopped focussing on the “buy” button.
- Snapchat could now be worth $18 billion.
- Monitoring of employees is reaching all new levels which are creating new levels.
- GoDaddy offers a new app to evaluate your start-up idea.
Find out more at http://www.forbes.com/sites/quickerbettertech/2016/05/29/small-business-tech-this-week-twitter-abandons-the-buy-button-and-now-you-can-eat-your-six-pack/3/#45dbeb4614b8
Small business owners are usually good when handling workplace health and safety issues regarding their employees but are often slow to act when they themselves are involved, particularly mental health issues.
Small business owners in Australia are the least likely to ask for health with mental health issues and risk losing their companies as a result.
According to Kate Carnell, the first Australian small business and family enterprise ombudsman says small business owners are amongst the most affected by mental health problems.
She highlighted that smaller operators should seek help if necessary and assist those in their business that need help with mental health issues.
Following the recent Federal Budget, experts explained that for the South Australian economy the biggest gain was the $90 billion in defence programs for the state.
Another good thing though was the tax cuts for small business.
Also the treasury has confirmed that the small business retirement exemption will continue, so if you’re planning on selling your business, you can use it as part of retirement planning and contribute more to superannuation than the $500,000 lifetime after tax contribution cap.
Read more about what the budget means for small businesses at: http://www.adelaidenow.com.au/business/experts-urge-sa-small-business-to-invest-create-jobs/news-story/369087b4f59273e309136d136b9e47c7
Most of us, especially small business owners tend to name our businesses based on sentiment but there are some other aspects that need to be considered.
- Check the Australian Business Registry and see whether the name has been taken or not.
- Keep it short and clear.
- Don’t get overly creative, the name should still fit in appropriately with the business.
Find out more at http://www.dynamicbusiness.com.au/start-up-entrepreneur/three-must-dos-for-naming-your-business.html
A number of businesses were recently slapped with fines by the Fair Work Ombudsman because of payment issues with many companies found to have been underpaying their employees.
This prompted an article on Smartcompany.com.au highlighting some of the common misconceptions about employee payments.
Here are 7 employment myths that you shouldn’t fall for as a boss,
- You can deduct from workers to cover losses
- You don’t need to provide employees payslips if they don’t want them
- You can employ young workers as ‘trainees’ without lodging any formal paperwork.
- Employees don’t need to be paid for time spent opening and closing a store.
- An employee must work for 12 months before they can take annual leave or sick leave.
- A full-time employee can be fired without notice during their probation period.
- You can’t ask an employee for proof of being sick, such as medical certificate.
Get more information at http://www.smartcompany.com.au/people-human-resources/industrial-relations/42360-seven-employment-myths-bosses-shouldn-t-fall-for/