Category: Business

Business, Technology

Is Australia Set to Overhaul its Business Tax System 

After such a brutal year for economies around the world, it is quite possible that some sort of change to the tax system in Australia could be on the way. But first of all, how does the said system in Australia work.

The amount of tax that a business must pay relates to how much money it makes. Its taxable income. They calculate your taxable income based on your assessable income which is your gross amount of money earned from the business and other capital gains. You can claim tax deductions for some elements of running your business. Tax in Australia is often paid in installments to avoid large payments at the end of the tax year. Small businesses like one of the plumbers you can find in Perth AU with an annual turnover of less than 10 million are likely to be eligible to get small business tax concessions from the Australian tax office. The full taxable rate is 30% but if the business is a base rate entity it will be eligible for a lower tax rate of 27.5%. A base rate entity is one that has an aggregated turnover of less than 50 million or 80% of the assessable income is passive income.

 

Why The Change?

So why should there need to be a change to business tax systems? Well, the COVID-19 pandemic has meant that Australia is, like many other places in the world, in a deep and hopefully short-lasting recession. There has been a large increase in government expenditure, a shrinking in government revenue, and an increased government debt. Tax reform is something the government needs to prepare for as when we are in a post-COVID-19 world there will be needed to generate revenue, improve equity, and support economic growth.

This set of tax reforms has to be different from the previous one If the government is going to pull through this economic recession. Over the past 20 or so years there have been four different attempts to reform tax in Australia. In each case, the general purpose of sitting and reviewing the tax laws was to promote economic growth and to support Australia’s fiscal position. The only problem is that in most of those cases the proposed reforms and laws were almost always left partly unenacted and the goals of the tax law reviews were never truly met.

 

Why Now?

So, if this is how things have been working then should things be changed now? Well according to the International Money Fund, maybe not quite yet. They believe that introducing bespoke or knee-jerk fundamental reforms or overhauling existing tax law systems could compromise the system completely if done during such an unprecedented economic crisis such as the COVID-19 pandemic. There are emergency taxation and spending measures already in place to deal with the immediate issues at hand, but the catch is that they are only temporary. A more permanent solution for the future will need to be drafted and implemented to avoid long term economic issues.

Currently, the government is in an almost state of triage towards the economy, dealing with the more imminent and harmful dangers, but this, unfortunately, will not last forever. But once the economy is in a more stable place, we will be able to strongly consider the possibility of tax reform in the future and they need to do it with the people in mind. The pandemic has involved a degree of openness with the public. The government asked the public to basically dissect the economy in order to save life’s and now that they have somewhat achieved that they need to be open with the rebuilding of the economy.

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Business, Entrepreneur, Technology

How To Conduct a Thorough Business Interview 

There is one vital component that makes any successful company work. More important than the product. More vital than good marketing. And that is a good staff.

Your employees are the backbone of your company. Despite automation seeking to take jobs away from people, there will always be a need for human interaction in any profession. This is why it is important to make sure the staff working for you are on the ball and the right fit for the job offered.

Today we want to walk through all the things you need to know and do to conduct a thorough business interview. There is nothing scarier than attending an interview for a new job. But it can also be quite daunting having to interview people. Having to decide between them on who is the right fit for the job. And then the difficult task of telling the failed applicants the didn’t secure the job.

Preparation

The first step of the interview process starts long before you ever put out the job advertisement. You need to know exactly what the position entails and the type of person you want to be hiring. This means more than just knowing what qualifications they need and what skills. You need to know what type of person you want to be working for you. What energy and dynamic do you want them to bring. This is especially important if they are going to be integrating into a larger workforce.

After that, you need to put together all the information about the job. Pay rate and benefits. Working hours and the contract. You need to anticipate any questions the interviewee is going to ask and have an answer ready. Remember an interview is also a chance for potential staff to see if they even want to work for you.

After that you can put together the interview you will be conducting.

The Interview

First things first you need to know what questions you are going to ask. You can often find some basic starter questions floating around online. Stuff like going through their CV and making sure they know what they have on it. You’d be surprised how many people don’t know what they have on their CV.

You could then use this or that questions to get to know someone and see if they are a good fit for the work environment. Do they have a good sense of humor? Are they quick on their feet? Questions games are a great way to determine this.

You also want to run them through some hypothetical questions relating to the job positions. Some ‘What If’ scenarios are a fantastic tool to really get a sense of what type of worker they are and if they are right for the position.

Going In-depth

If you have done this right you will have had your interviewee’s CV ahead of time. To make sure you are carrying out a really thorough interview it is wise to do some digging into their references. References are the best way to validate if someone is telling the truth and is a good fit for your company. Don’t be afraid to ask them some really tough questions.

You also can do some internet digging on their educational background and previous places of employment. Read reviews and check school ratings. See if the places they are coming from are good enough.

During the interview make sure you grill your potential new staff. Keep things light, but serious. Ask them about their social habits as well. Do they drink? If so how often? Are they a smoker? This is important as smokers tend to take more breaks during a workday than non-smokers.

Another thing you should do is examine a person’s social media accounts. See what sort of things they are posting and what they get up to. Your staff is the face of your business. If they are debasing themselves online that can reflect very poorly on your companies reputation.

 

Remember. The interview process is vitally important to the success of your company. So don’t rush it. Take the time to make sure your new staff member is who you need.

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Business, Technology

Why Europe’s Business Priorities are so Different from the USA 

There is an endless list of differences between the USA and Europe. In fact, the two are extremely dissimilar in almost all walks of life, down to culture, fashion, food- nothing remains the same. This may seem peculiar, as the USA is basically a product of all those that have immigrated from Europe and other places around the world.

 

One of the main places that Europe and the USA differ tremendously is when it comes to business priorities. This is mainly down to the differing laws that each one has and current events occurring in each. Here is why Europe’s business priorities are so different from the USA.

 

Brexit

It had to be talked about so we may as well get it out of the way first. One of the main business priorities of Europe right now is amending its business laws in accordance with the difference that Brexit will make to how the business will operate. Once Brexit is completely settled and put into action, businesses with links to Britain will no longer be able to operate like it used to. Businesses that trade products in Britain will now have new taxes that they will have to deal with. There will also be an import tax for any products that are made in Britain and are sold in Europe. Because of this, one of the main focuses of Europe right now is finding new connections that they can exchange with within Europe. Doing this will mean that they won’t have to deal with mass inflation when trading and will alleviate a lot of the stress that businesses have been feeling over the last few years.

 

Something that European businesses are trying to do is create more homegrown produce, which will be much more sustainable than their regular trade deals. However, there is a slight problem that they have faced when trying to do this, which is an infestation of parasites in colder regions which is making it harder to grow local produce. However, they are working on overcoming this and there are plenty of sites such as apofraxeis24-antoniou.gr/symvoules-antimetwpisete-skoulhkia-sto-spiti/ that are offering tips on how to deal with these parasite issues.

 

Though the USA will experience minor changes because of Brexit, they will not be affected as much and will not have to make as many changes as Europe will. This means their priorities will be much different and they will be worrying about other things.

 

Cultural Events

Following on from the effects of Brexit. It would be impossible to ignore all the cultural changes that are happening in the USA right now that are changing the priorities of the USA. Every day, dozens of riots are occurring all over the country. These riots are creating a gap for looting to occur, which it has. Because of this, many businesses are losing out on vast amounts of profit and are having to spend what profits they do have on repairs or additional security to protect their businesses.

 

Due to recent race movements along with a lot of political scandals, businesses are now cutting off distributors and other businesses that they had previously worked with, favoring their moral obligation to causes they believe in. Once again, this has left a lot of businesses that remain on the wrong side of history struggling to find custom, meaning that a lot of businesses have found themselves worried that their own businesses may suffer because of this.

 

Pandemic

This may seem like a confusing topic to conclude as both the USA and Europe are currently dealing with the pandemic as part of everyday life. However, the way in which The USA and Europe are addressing the pandemic are completely different and so their business priorities are much different.

 

In the USA there has been no formal lockdown and citizens have been informed that they can isolate if they wish, but they are free to go about their daily lives as long as they stay precocious and wear masks. Because of this, though some businesses have been hit by fewer customers, most are still working at the same rate that they usually do. This means that a lot of businesses are still flourishing and reaching sales goals that they have set out to reach. However, some businesses have chosen to close for their protection and will remain closed until the pressure of the pandemic subsides.

 

Struggling

Businesses in Europe have been hit a lot worse than those in the USA. This is because there have been country-wide lockdowns put in place which means a lot of businesses have had no choice but to close. Because of this, they have lost out on a vast amount of profit and a lot of businesses have been forced to close permanently.  Fortunately, many local governments have made donations to businesses that seem to be suffering most, but for smaller businesses, this financial aid has not been provided and so they are finding themselves in positions where they have had to close.

 

The main focus for European businesses right now is survival, which can arguably be said to be the priority of all businesses. However, European businesses are under a lot of strain caused by several culminating issues.  Because of this, the priorities of businesses in Europe are very different when comparing the priorities of businesses in the USA right now.

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Business, Developer, Technology

Real-Estate Business for Beginners 

So you have decided to dip your toes into the wonderful world of real-estate. To that, we say: Welcome! You are about to enter a world that is filled with stress, hard work, and risk. But all of these things are minor in comparison to the benefits that come from real-estate.

Financial security from your property investments. Wonderfully designed living spaces and buildings. Fantastic communities and a diverse mix of people are all on offer in this field of business. It’s no wonder so many people are constantly trying to get their foot on the property ladder. So today we are going to go through some of the basics to get you started in the wonderful world of Real-Estate.

Finding the Right Property

The first step to getting into the world of real-estate is, of course, to find some. But this isn’t as easy as it might sound. Not every property you see is fit for purpose. Especially since we are approaching this from the business side rather than the homeowner area. If you are looking for property for living purposes, we recommend this in-depth guide for the first home owner grant in Victoria to help you get your journey started.

When searching for a property to invest in you need to know what your goals are for the property. Are you looking to rent it out? If so you will need to find a property that is based in an area that appeals to renters rather than buyers. Anywhere near a major city or popular areas of work such as factories, hospitals, and offices.

If you are planning to sell a home outright, you want to look in areas that are designed for long-stay living. Residential areas far out from the main city or beachfront properties are always good investments for this.

 

Assessment

The next step is to make sure you carry out a full and in-depth assessment of any property before you buy it. The reason for this is that renovating property costs a fair amount of money. And chances are, if you don’t go in-depth during this stage, you are going to be hit with surprise costs down the line. The biggest killer of anyone’s real-estate aspirations is these hidden costs.

To successfully do this you will need to pay out for a professional assessor to come to examine the property. Do not skimp on this part. Payout more now for good quality assessments so you don’t have to pay out later. If a building is too far gone, we suggest you avoid it. No matter how good a location is, some buildings just aren’t worth your time or money. Leave it for a bigger fish.

 

Building Permits

This is one of the biggest bits of red-tape you are likely to encounter. If you have a new property and intend to make any alterations or changes to the building or the garden, you may need to secure a building permit first. The rules surrounding what you can and can’t do without a permit differ from state to state, and sometimes city to city as well. So make sure you are keeping on top of all your permits at all times.

We recommend hiring a lawyer to make sure all your legal paperwork is done and above board. If you start construction without a permit and get found out you face possible fines, along with the cost of all the work you already did which has now gone to waste.

 

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Branding, Business, Technology

How To Compete With Big Name Tech Companies 

The technology industry is one that changes at a very rapid pace, with so many product creators out there working on new and inventive ideas there is a lot of work involved when it comes to competing within this industry. If you are a smaller business looking to get ahead within the technology industry then I would recommend you take the time to consider all of your options, when you are a smaller company looking to compete against industry giants you have to consider which projects are going to bring you success and are going to be worth investment.

 

Standing Out From Competitors

In order to compete, you will have to make sure that the products you are offering are unique and that they stand out against the products that are already available. If you are offering a solution to a real-life issue that cannot be found elsewhere you are greatly increasing your chances of making an impression on the industry and increasing your likelihood of success. Finding the right product to release especially in your early business years can be difficult so be sure to take your time in making the right decision.

 

Collaborations

Collaboration products are often offered by some of the big names in technology and offer smaller businesses to start off on the right foot, big tech brands often offer collaborations to unique designers or tech creators to offer a joint product to sell on the market. These are great ways for smaller businesses to generate awareness of their brand whilst showing what their brand can offer in terms of their product range. This is also a great way to show that your company has the power to stand up against mainstream industry regulars as you are throwing your company into a situation where huge comparisons are going to be made.

 

Solve Issues of the Public

As mentioned previously one of the best ways to make sure your company has what it takes to compete with the big industry names is to look for an issue within the public that you can solve. With all the new releases that are constantly being brought out in the technology industry, there is always something that can be changed or altered to make a tech product better. If you want to stand out against the big names you should be looking at their products for improvements that can be made, this will show off your companies initiative as well as proving that you should be taken seriously. One of the biggest issues with some recent tech releases would have to be the sizing of the highly popular earbuds, and when they first released many people found that you could not get the right earbuds if you have small ears, this issue was later rectified by a smaller tech company which saw great success in as little as three months.

 

Customer Feedback

One of the biggest things to consider if you want to be successful in technology would have to be listening to customer feedback, this applies to many different businesses and technology is no different. As your business is reliant on the sale of products to your target market it is crucial that you listen to what the customer wants and if they have valid suggestions for improvement you should listen. If you want to compete with the big industry names then you need to be prepared to do what you can to bring more custom your way. If this requires you to listen directly to what your customers want then you should be prepared to do so, in order to increase your profits and build brand awareness.

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Business, Crm

How Businesses are Using Technology to Solve Multiple Business Problems 

Successful companies and businesses have already started realizing that investing in better technology can lead to optimal business results and outcomes in long run. Financially successful businesses are now allotting a major part of their budget in to technology. Technology is commonly leveraged today by different businesses to solve moderate to complex business problems related to customer support, management, decision making and advertising. They are adopting different technologies and software programs to solve different business problems successfully. The entire process of problem solving in a business involves collecting and analyzing business data and coming forth with solutions that can solve the issues within the business.

Enterprise Resource Planning     

Most of the small businesses never consider the term “enterprise” equal to mom-and-pop and local business. There are several enterprise resource planning software developers who are now focusing on customizing the software to meet the end needs of mid-sized and small businesses. The successful multinational mega industries and businesses are already using ERP to solve most of the business problems efficiently in varied departments, including finance, accounting, manufacturing as well as sales. When any blockage occurs within the business process, the management team use different technologies to solve the problems.

Small businesses can make use of scaled down version of ERP software that can help them coordinate the back and front office activities efficiently.

Collaborative Tools

Many multinational companies have their branch offices at different locations and all are functioning independently from each other. Managers, working professionals and operation heads in all the branches need dedicated tools to keep the operation running smoothly and help the location stay on same page with business practices and policies which are escalated to the head office. Such technologies ensure uniform level of services for customers that carry a name, regardless of their physical location.

Collaborative tools can solve multiple problems and help multiple small business locations to conduct businesses on behalf of large organization and corporate entities. Instead of wasting money on regular travels of managers and vice presidents to each location, you must invest in collaborative tools to ensure business conformity and it allows all branches to join in a uniform platform via video webcast and conference. In such a setting, most of the problems can be solved by bringing them to attention of all business heads and decisions can be made commonly after voice vote and analyzing.

Business Analysing Tools  

Business can afford to hire dedicated staff and professionals to operate a separate department of business analytics. But for small businesses, the owner and the managers are the head of the businesses that look after the entire business process. So, instead of outsourcing the function or hiring professionals, small businesses can opt for the business analysis tools to crunch data. For instance, if the sales performance in the first quarter is below average because of lower customer traffic, the manager can plug the data into spreadsheet to conduct sensitive data analysis about the future performance. If the sales are expected to fall again in future, business can look for other methods like advertising to solve the problems related to falling revenues.

Decision Support System

Concerns and predictions that computer systems are likely to overtake and out think human intellects are completely upon us. Decision support system is not a new concept indeed. But as the processing power of computers is increasing, the role of these machines is becoming quite important for businesses in crucial decision making process. It helps businesses to make wise and informed business decisions.

The system actually focuses on compiling all the raw data of businesses and helping the businesses to predict the problems that can’t be foreseen by human alone. Another effective way in which business can now use the system in an artificial intelligence  or AI technology to help professionals make informed decisions when they face any issue during customer handling.

CRM Systems

While ERM system mainly focuses on business operations, the CRM system externally focuses on customers of businesses. The primary goal of the technology is to create comprehensive database of customers which can be used by businesses to heighten their sales, revenue, improve customer retention and make good relationship with customers. It efficiently offers individualized or personalized experience to all customers.

The CRM platforms come with a variety of sales, marketing and service automation abilities that allow the professionals to monitor continually and improvise the customer support and satisfaction. It is the most effective system that can capture almost infinite amount of customer data and allows professional use the data to refine and personalize the marketing offers as well as sales pitches as per customer needs.

Analytics

The interpretation, discovery, communication of useful patterns in data, Analytics has emerged as the most essential tool for all businesses today that are looking for strategic investment of their resources. There are different analytic tools online that extend to different areas like behavioural analytics software which are widely used to assess the potential candidates, predictive analytics that find for signals about where specific market may be going and educational analytics that improvise the education.

Without data collection, it won’t be possible to pinpoint the areas of concern or evaluate the performance of a business. Analytics perform this job and help organizations and businesses to create a chart and database to succeed in their competitive ocean.

AI Technology

AI technology or Artificial Intelligence has been designed to learn from the interactions over time and optimize the relevance and utility. Today AI technology is being used by almost all businesses. The technology can collect data at a much higher rate than human and this makes it perfect solution for faster routine tasks like setting up calendars to working on complex projects and more. AI technology is being used mainly to heighten the support teams and offer them early self service to customers. The technology is likely to improve in future to enhance its utility with the users.

So, this is how businesses are leveraging technology today to overcome from a variety of business problems efficiently.

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Apps, Business, Social Media

Twitter In Your Business – Guide for Beginners 

With more people in the world looking for endless stuff on the internet to find the answer to your question, it has never been more important to business owners online be present in every corner online and reduce the risk of falling behind.

While the power of digital advertising strategies – such as pay per click or SEO is unprecedented in its strength with respect to sales, use Twitter correctly can also help you get easy dividends. If you consider yourself a beginner on , here are some quick tips to get started.

First What is Twitter?

First, it is important to understand that Twitter is a social network where you can follow friends, trends and more. After being followed (signed), you will be able to communicate with your contacts via a message with 140 characters known as a tweet.

Through these messages you will be able to link almost any type of content on the web, if it is a challenge blog , a picture, video or your own website. You can go directly to a follower linking your user name – the name that begins with the “@” sign.

So how should you configure your Twitter account?

Now that you know the basics, it’s time to use it to your advantage. The uniqueness of Twitter is its system of short, quick messages, that is why it is a faster tool to disseminate information compared to Facebook, for example.

In this small period of time that you can use to your advantage, valuable and informative messages that can be shared via the online network to an unprecedented speed.

The cast of choosing your username on Twitter is important and must get it right, because while you can change your name tag, your username stays with you forever.

It is always better to choose the name of your company , therefore, must create a brand that people can recognize and trust. If your preferred name is not available, look for one that is still relevant to your business offerings and thus prevent users are stretched confusing. It is also important to add a picture to your profile on your page.

You must be careful of adding too many followers on your Twitter account

While constantly add followers is important, you must be careful not to be too liberal or otherwise you might get a warning from the same Twitter.

Twitter has strict rules about what they consider aggressive, and if you are found guilty after they have spoken your account, your account could get suspended – that happens is not the best start to your Twitter campaign .

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Business, Internet

3 Reasons Why Application Whitelisting Is Right For Your Business 

If you run a business of any kind, you will have an online presence, and the very fact that you are connected to the Internet, means that your critical data is open to cyber-attack. Traditional anti-virus programs use the blacklisting approach, which was fine at first, but as time passed, the database files grew, as the program must be informed about every known malicious code, and with new viruses coming out on a daily basis, this is a time consuming task. Application whitelisting uses the opposite approach and basically, the only files that are allowed to execute are tried and tested files that have been included in the whitelist that you create. Here are just a few of the benefits you can expect to enjoy with whitelisting solutions.

One thing about the traditional anti-virus programs is they are very bulky, with huge virus definition databases that must be updated on a daily basis. This is essential, as blacklisting involves logging all known viruses and constantly scanning for their presence, and with large software packages that must be installed at every workstation, this takes up a significant amount of your computing power, which would be better utilised by creating marketing campaigns or analysing data. Application whitelisting is all about creating a list of tried and trusted files and only these are allowed to run, irrespective of anything.

Blacklisting applications does not give you complete protection, as a virus that is unknown to the program will not be noticed, and with new viruses emerging daily, this is something you cannot afford to allow. Whitelisting means absolutely nothing can execute if it isn’t on the whitelist. This ensures that even a new virus is unable to infect any of your machines, and once in place, it is easy to use, and what’s more, takes up very little drive space. The software is very flexible and is suitable for every type of business, regardless of size, and by enlisting the help of the developer, you can have the system in place and say goodbye to that bulky blacklisting program that drains your computing resources and provides less than complete protection.

Real time reporting allows you to keep your finger on the pulse, so to speak, and from a single screen, you can see an overview of every single file in your organisation, regardless of how many offices you have. Detection is essential, and you can instantly detect anything that is unknown by configuring the system, and once a suspicious file is found, you can discover its origin and quarantine it until you have scanned the contents. Modern viruses have the ability to change their name and location, and there are tools to track this, which enables you to weed out anything suspicious.

If you would like to know more about application whitelisting and how it can help your company, an online search will take you to the website of a reputable developer who can create the ideal virus protection solution.

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