So you’ve got that burning desire to start your own business. You’ve honed your particular product or service down to a sure fire proposition, you’ve researched the market, identified the demand you’ll meet and it’s all systems go.
It’s an exciting time, but it’s also a time when you need to make decisions that could prove vitally important down the track: under what structure to run your business, and how you will pay yourself - whether you take a salary, drawings from income, or loans from the company.
More expensive premiums, higher excesses and narrower coverage are set to become an insurance reality for many Australian businesses. Here’s how SMB's can prepare for a hardening market.
Australian businesses have benefited from a soft insurance market for some years now, but it's time to prepare for a change.
We spoke with Steadfast Broker Technical Manager, Michael White about the cyclical nature of the market, the factors that drive it and how you can prepare for a harder market.
You've got killer ideas, fire in your belly and you're prepared to put in the hard yards – the first months of a new business venture are often highly exciting and productive. But a slip up now could cost you not only your capital but also your confidence, your reputation and your business.
Sadly, Australian business failure rates are at a six year high, with more than 250,000 businesses deregistered from the Australian Securities and Investments Commission last financial year, most of them (87%) small businesses.
Starting a small business can be very rewarding but it is also very challenging. So, here we're taking a look at five common mistakes that new businesses make and how you can avoid them.
Every customer’s a good customer, right? Wrong. There are some customers you should avoid at all costs.
It can be hard – particularly when you're starting out or when business is slow – to turn away a customer. But there are some customers that put your time, money – and a whole lot more – at risk. Here are five warning signs to watch out for, in initial business dealings.
Hailstorms can cause severe and widespread damage in a matter of minutes and can be especially destructive for motorists.
Hailstorms are common in Australia and can occur at any time of year, although the traditional storm season runs from September to April. Motorists and car owners therefore need to be prepared to deal with the challenges of a storm at any time.
