Christmas disruption


5 things to make or break your business Christmas

The countdown to Christmas is now on and we're in the midst of the headlong rush to get everything done and capitalise on any remaining opportunities before the Christmas lull. 
Collins Hume ChristmasBusy period or not, Christmas causes a period of dislocation and volatility for most businesses. This dislocation and volatility mean that it is not 'business as usual' and for many businesses, it is the change that causes the problem.

Most business owners cope well with consistent trading conditions, where trading and business conditions are predictable as are the solutions to issues that arise, but it is a different story during periods of disruption. 

Here are some things to watch out for:

Black Friday and Cyber Monday sale concepts


Australia embraces Black Friday and Cyber Monday

The Black Friday and Cyber Monday sale concepts have well and truly arrived in Australia with retailers embracing this latest retail event to stimulate what has been an economically lack lustre year.

shoppingWhy 'Black Friday'?

For many Australians, Black Friday is just confusing – shouldn't Black Friday' be on Friday 13th? In the US, the Black Friday sales follow Thanksgiving in a similar way to the Australian Boxing Day sales. The Black Friday sales also lay a clear runway to Christmas, stimulating consumer spending.

The story behind the name Black Friday is hotly contested. In the US, the use of the name 'Black Friday' was first used for the gold market crash on 24 September 1869. The crash was engineered by financier Jay Gould and railway magnate James Fisk amongst others, when an attempted play to drive up the price of gold unravelled. The pair sought to corner the market in loose gold using political influence to keep Government gold off market, driving up the price from $100 to $163.50. However, when the Government recognised the scheme, it placed $4 million in-specie on the market. The price of gold plummeted to $133 with the ensuing panic spreading to the rest of the market. Gould, who secretly sold much of his gold stocks on the high, did better than Fisk who lost much of his investment.

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Easy one-minute Business Risk Survey

Can you afford not to take our Business Risk Survey?

Our Business Risk Survey is an easy online self-assessment tool.

business risk scorecardThis is an initiative by Collins Hume to support our business clients to understand and improve their business, and it starts with our quick survey.

We know from experience that this survey will help business owners to identify concerns with their business.

Our survey only takes a minute, and you get the result straight away on your screen. There is no downside.

By investing one minute of your time, we also find that we also gain a much deeper understanding of your business and the issues that are bothering you. 

Our Business Risk Survey is an easy online self-assessment tool:  Read more…

Collins Hume's Business Risk Survey

Is it worth 1 minute to assess your level of business risk?

One minute | Ten easy questions

business risk surveyAt Collins Hume, we have developed a Business Risk Survey that is sure to be eye-opening for any business owner. 

It only takes a minute to complete but is of enormous benefit if you have concerns about your business that keep you awake at night.

In designing our Business Risk Survey, we urge business owners to do a pulse check on how you're feeling about how your business is tracking, to see if there are any concerns or opportunities that you're not getting to discuss because you're immersed in running your business day-to-day.

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Are you paying your staff correctly?

Woolworths $200m plus remediation

Woolworths is the latest company facing fallout from the underpayment of staff. 

payrollIn what is believed to be the largest remediation of its kind, Woolworths have stated that they have underpaid 5,700 salaried team members with remediation expected to be in the range of $200m to $300m (before tax).

The discovery was made as part of a 2 year review following the implementation of a new enterprise agreement but could have been occurring since the implementation of the modern award in 2010.

In a statement, Woolworths stated:

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