NSW small businesses are the most impacted by current economic conditions, with research from ScotPac reporting that rising wages, compliance and transport costs are hitting the state’s small business owners in their hip pockets. The findings form part of the bi-annual SME Growth Index. Asked to name the top three areas of rising business costs today, over two thirds (67 per cent) of business owners in NSW nominated higher wages, compared to 61 per cent for the rest of the country. Compliance costs were also eating up profits for NSW businesses with 60 per cent concerned about the rise in ..read more

The release of the inaugural Big Small Business Survey this year has highlighted some key factors impacting Australian small and micro-businesses as we move on from the pandemic. From the state of business owners’ wellbeing to the main cash flow and operations challenges they’re facing; the results are enlightening and sometimes surprising. Joining editor Cec Busby on the Flying Solo podcast, survey co-author and rural business owner Jenn Donovan broke down some of the most compelling findings, especially how regional and rural small businesses compared to city businesses. The Big Small Busine ..read more

On a daily basis, we come into contact with content that’s going viral. If you’re reading this article, chances are, you’ve come here seeking the secret formula to infect the internet with your awesomeness. However, there is no surefire way to guarantee that your content will go viral. While there are some strategies that can increase your chances, there is still an element of unpredictability when it comes to viral success, writes social media expert Emily-Rose Hills. First, let’s explore the concept of going viral. Does it actually matter? And what are the tips and strategies for increasing ..read more

How much time are you spending emailing and chasing up invoices? If the answer is too much, read on. Most people who go into business for themselves do it for the passion, not because they adore spending hours on admin managing spreadsheets and budgets. If you’re running your own business, you want to lean into the things you’re good at and save time on anything that doesn’t float your boat. Like invoicing and all the admin that comes with it. There are plenty of cost-effective and time-saving ways you can master your business finances, starting with how you manage your invoicing.  While ..read more

If you’re a business owner, you’ve probably had friends and family share their own business dreams over the years. Perhaps you’ve got a cousin with a great idea for an app he loves talking about at family barbecues. Or an ex-colleague who loves to wax lyrical about how they’d do things differently if they had their own business. But while talk is easy, taking real steps towards business ownership is harder writes Emma Fawcett, General Manager SME, MYOB. Our recent MYOB Belief Barometer asked 1,000 Australians about the role of self-belief in business, and found that while 76 per cent of Austra ..read more

Small business defaults are on the rise with hospitality businesses at highest risk of insolvency, closely followed by transport, postal and warehousing, and arts and recreation services, according to findings from the latest CreditorWatch Business Risk Report. Falling consumer demand, rising costs, skills and staff shortages and more are creating a perfect storm of difficulty from all sides. The latest CreditorWatch Business Risk Index shows projected default rates for the next 12 months far higher than last year – and higher than big businesses. Cash flow catastrophe for small business Trend ..read more

Be ready to act in the moment, invest in your dreams, and take on challenges, whatever they may be. In this Flying Solo series sponsored by ANZ, we’ll bring you articles, videos and podcasts to help guide you through the opportunities and challenges of running a business solo. Read, watch and listen to expert interviews and real small business stories that will give you a confidence boost and valuable tips on how to prep your next steps. Ready? The post Running a business solo? Here’s everything you need to make the most of opportunities that come your way appeared first on Flying Solo ..read more

Going days without eating. Constant stress and rumination about work. The tightness in one’s chest as your phone buzzes over and over in the wee morning hours; a welling up of guilt as you let it go to voicemail. So much for a job that so many think adds up to ‘scrolling through Facebook all day’. Such is the life of a social media manager or strategist in the modern world, writes Tom Valcanis. Gone are the days where you leave work at work. Work comes with you, especially if you are creating or curating content for smartphones, using smartphones. If you feel a bit icky ‘doomscrolling‘ – const ..read more

From starting out on their own to managing three shops and a staff of nearly 25, the pair behind Sydney’s fast-growing tattoo empire are certainly leaving their mark on the industry. In 2017, Todd and Katie Bailey opened the doors of their first tattoo studio, Thirteen Feet Tattoo, in the heart of Sydney’s bustling Newtown. With one in four Aussies nowadays having a tattoo, quality artistry has never been more in demand. From designing someone’s first ink, to being called backstage to tattoo Coldplay’s Chris Martin, Todd and his team of artists have done it all. Now with their second shop in H ..read more

Asian Imperial Centre – Chang Market has been Cabramatta’s one-stop-shop for local and international produce for nearly 40 years. Five years ago, Edward (Eddie) Niravong and his wife Mint took over the store from his father, with fresh new ideas for growth. Owned and operated by the Niravong family since 1985, Chang Market is one of the oldest Thai grocers in Sydney. The aisles are filled with sauces, herbs, fruits, vegetables, rice, noodles, meats and sweets you can’t find just anywhere. Eddie shares with Flying Solo how he’s bringing the bustling Southwestern Sydney local gem into the 21st c ..read more