Small Business

reality small business ownership

When reality bites in small business ownership

Espressology’s Instaurator paints a genuine picture of why business ownership is a complex beast that isn’t all rainbows and unicorns. Winston Churchill is quoted as having once said “success consists of going from failure to failure without loss of enthusiasm”. Certainly, it is hard to maintain enthusiasm when things don’t go your way – take the industry’s current impact of the coronavirus for example, which has forced businesses to close – some temporary, others not – and reduce staff. However, it is important to learn from these lessons so that, hopefully, we can move onto success and leave COVID-19 as all but a distant memory.
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small business growth

Westpac predicts small business growth on the horizon

Financial insecurity fear has led to 33 per cent of small business owners in Australia taking up a second job or “side hustle” to help support household expenses, according to new research from Westpac. Though the Westpac report reveals growth is on the horizon and small businesses could be the ones to profit. It says a stable political climate, paired with an improving economy, means that the future is looking bright.
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Small business

Report finds one in three small business owners fear insolvency

American Express’s annual Economy of Shopping Small report has found that a third of small business operators fear they risk becoming insolvent in the next three to five years. The report is based on in-depth interviews with 10 small business owners, and 20-minute surveys with 864 small businesses and a nationally representative group of 1019 consumers. Only 38 per cent of small business owners say revenue has increased during the past 12 months. This was a decline from the 43 per cent that reported growth last year.
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Melbourne’s small business boost tops $8 million

Melbourne’s Lord Mayor Robert Doyle has announced $286,000 in annual grants to help boost new and emerging businesses and expand the city’s economy. “This round of grants will support 13 small businesses and is forecast to generate more than $20.2 million in turnover and equity and the creation of around 100 new jobs in the city,” says Lord Mayor Robert. “We had an increased number of applications this year from a diverse array of businesses which demonstrates the growth in jobs, innovation and productivity in Melbourne.”
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