How to create and maintain an effective IP strategy As we celebrate World Intellectual Property Day on April 26, it’s a good time for your business to take stock of your intellectual property (IP) rights. IP rights can underpin a business’s distinctive identity and competitive edge. A registered trade mark, for example, gives your business a powerful asset that can distinguish your brand from competitors and build customer trust, as well as providing you with important legal protection for your competitive advantage.  What does IP cover and how is it protected? IP refers to creations of t ..read more

8 Cybersecurity Threats for SMEs in 2024 Each year, small and medium-sized enterprises (SMEs) in Australia and New Zealand face an increasing number of cybersecurity threats. The threats have devastating consequences when left undetected. Repercussions include significant financial losses and long-term reputational damage. Let’s take a look at how you can help protect you and your business from cybercriminals. 1. Phishing Attacks One of the most prevalent cyberattacks facing SMEs is phishing scams. Phishing attacks involve cybercriminals impersonating trusted sources. The goal is to trick user ..read more

It’s been a slower summer for hospitality businesses, but there’s still time to turn the year around Summer is typically a peak time for hospitality small and medium-sized enterprises, as people gather over the festive period and summer break to socialise and celebrate. But MYOB’s most recent anonymised data, representing tens of thousands of transactions, shows little growth YoY in the total cash received by hospitality SMEs between December 2023 and February 2024, with data pointing to a slower summer season.  While previous summers saw around 5 per cent year-on-year growth for the hosp ..read more

Three ways businesses can ramp up their cybersecurity efforts If you run a business, you’re no doubt well aware of the risk of cybersecurity attacks and data leaks. You might also tell yourself that cyber criminals aren’t interested in a company like yours. That they only target big corporates and high-profile companies with huge customer databases and bottomless bank accounts.  The bad news is, no business is safe.  In fact, many of the ‘bad actors’ out there have small and medium enterprises in their sights, and count on them to be easier targets.  The good news is, there ..read more

MYOB sponsors awards for Australia’s 50 Most Innovative Manufacturers On day 2 of Australian Manufacturing Week in Sydney, @AuManufacturing hosted a breakfast awards event to celebrate the 50 Most Innovative Manufacturers in Australia. It’s for everybody MYOB was lead sponsor of the event, which was themed ‘It’s for everybody’, to reflect the need for innovation across all businesses. Bruce Minty, Senior Product Manager at MYOB, was on a panel of five judges who reviewed the nominations. “It was an absolute privilege to be a judge at this event,” Bruce says. “There is so much exciting work hap ..read more

10 Ways MYOB CRM Can Help Supercharge Your Sales Pipeline In today’s market, small and medium-sized businesses (SMEs) need to take every advantage they have to stay ahead. Effective management of your sales pipeline is vital for converting leads into successful sales. Understanding what a sales pipeline is and how MYOB CRM enables its management can transform your business operations, which can then help increase efficiency and revenue. Sales is now more data-driven than it’s ever been, which means you now have more information to inform your decisions. Consequently, understanding which data a ..read more

Season 2, Episode 3: Transforming Paths: Insights from Rebecca Mihalic on Building a Successful Practice In the latest episode of the Fiscal Therapy podcast, hosted by Jody Sitters, community manager for MYOB’s accounting partners, we dive deep into the inspiring journey of Rebecca Mihalic. As the Director at Business Depot Sydney and Head of Accounting APAC at Ignition, Rebecca brings more than 15 years’ experience and a rich history of innovation in the accounting field. Her story is not just about numbers and financial strategies at a successful practice; it’s about personal growth, embraci ..read more

6 Tips for Cybersecurity in Manufacturing to Stay Ahead of Threats Technology can be a double-edged sword for Australian manufacturing businesses. Evolutions like AI and the Internet of Things (IoT) mean greater productivity, but increasing reliance on technology presents malicious actors with new opportunities.  In 2022, Manufacturing businesses accounted for 23% of all cybersecurity attacks. As the target of nearly 1 in 4 cyberattacks, what precautions should you take? In this guide, we’ll explain how you can improve cybersecurity in manufacturing.  Threats to Cybersecurity in Manu ..read more

CSIRO invests $20 million to drive SME innovation Up to 750 small and medium businesses will have access to extra support to help them turn great ideas into thriving new businesses. Australia’s national science agency, CSIRO, has announced a $20 million investment to provide SMEs with greater access to vital research and development (R&D) opportunities that will help accelerate their growth. This will allow CSIRO’s SME Connect team to support up to 750 SMEs through a range of programs and initiatives. These programs will provide training, dollar-matched funding and support to start-ups and ..read more

Your key tax dates for EOFY and beyond The end of the financial year is a time when there are many competing priorities. There are many key dates that business owners need to be aware of to ensure they are meeting all these compliance and business deadlines in a timely manner. To help you we have outlined a variety of key dates and deadlines for you to diarise. So be sure to consult with your registered BAS and Tax agent to help you with your lodgement obligations. Key tax dates for businesses 1 April 2024 Firstly, ensure that you have diarised the best date to pay quarter 3, 2023-24 super gua ..read more