The cost of doing business has skyrocketed since March 2020. Supply chain disruptions, port congestion, labour shortages, and demand surges, as well as rising raw material, energy, and transportation costs, have been cited as factors driving rising inflation. A strange phenomenon affects many entrepreneurs and small businesses — fear of […]
Tag: Dynamic Business
Dynamic Business has been helping business owners and managers for 27 years (https://dynamicbusiness.com).
40,000 businesses on ATO’s GST fraud hitlist
The Australian Taxation Office (ATO) has identified numerous GST refund fraud attempts, wherein individuals set up a fake business and file falsified business activity statements to claim refunds. Through Operation Protego, the ATO is investigating potentially fraudulent payments made to around 40,000 individuals, valued at around $850 million. It says […]
How to best run customer support when you are a small business
Building a good customer service department is a challenge. Consumers are increasingly demanding, and inefficient customer support (CS) can quickly affect a company’s reputation and bottom line. The recent outrage about Qantas’ wait call times is a concrete example of CS turning into a disaster, with a real impact on […]
Election 2022: What really matters to small business owners in 2022
As if running a small business wasn’t tricky enough, the last few years have increased the level of difficulty for business owners. Lockdowns and social isolation are significantly reducing foot traffic. Supply chain issues prevent delivering valuable materials, equipment, and deliveries. Employee turnover has increased as a result of the […]
The low- and middle-Income tax offset and how that will play into Aussie’s tax refunds this year
Are you eligible for the newly expanded Low and Middle Income Tax Offset (LMITO) this tax time? People earning up to $126,000 will get a rebate of $420 in excess of what they would have got anyway through the existing LMITO. As a reminder, the LMITO has been around for […]
Why accountants are the new ‘essential workers’
Australian small businesses have faced their fair share of challenges over the past two years, starting with the bushfires in early 2020 to COVID-19 outbreaks and lockdowns to, most recently, major flooding across NSW and Queensland. These disruptions, as well as the flow-on effects of labour shortages, soaring energy costs […]
Indonesia: An exciting market for Aussie exporters
Indonesia – the world’s third-largest democracy – is one of Australia’s most important trading partners. The country’s trillion-dollar economy is forecast to become the world’s fourth-largest by 2050 – and comprises more than a third of ASEAN’s gross domestic product, according to data from the Department of Foreign Affairs and […]
Tax time: Here’s your checklist before EOFY to ensure all is in order for your accountant
The end of the financial year can be overwhelming for many entrepreneurs and SMEs. However, if you begin to understand your obligations and chip away at what’s required now, you’ll save yourself the stress of the additional workload that often comes only a few weeks or days out from the […]
Why digital marketing is a business essential in 2022
Throughout the pandemic, demand for digital marketing has grown exponentially. The Australian market alone grew by 24% year on year, reaching $11.4 billion in June 2021. Australia had 22.3 million internet users (88 per cent of the population) in January 2022, with an average daily usage time of three hours. […]
Diamond anniversary celebration for Australia’s exporters
Since the inaugural Australian Export Awards in 1963, the annual program has recognised 1,990 Australian businesses. Applications for this year’s awards are open and close in June, with winners announced in November. The Australian Trade and Investment Commission (Austrade) and the Australian Chamber of Commerce and Industry partner to present […]