What are the Ways to Cut Business Cost and Improves Cash Flow?

With economic uncertainty still plaguing our nation’s economic climate, it has become a season for big cuts. Nowadays, with costs on the rise and the economy dragging, businesses should look at three things to cut costs: staffing, rent and capital equipment rather than on cutting staff numbers, though is the most obvious way.

Though cutting the head count is obvious and easy, it is also a morale buster. Though it can meet a short-term imperative cost, it often has long-term repercussions and the cost of rehiring when the economy has turned is expensive.

Aussie Dollar Step Up on Positive German and US Data

After some good news and positive economic data from Germany and US were released, the Australian dollar had risen back to above 107 cents. From yesterday’s trading of 106.47 cents, it is now at 107.17 US cents.

The local currency has been seen to be trading in a tight range after lifting overnight, according Tim Waterer, CMC Markets foreign exchange dealer.

"We didn't see any spectacular moves one way or the other. It was just building on those gains, courtesy of more positive data abroad. I think it's in a holding pattern, ahead of some more US and European data out tonight,” he said.

Australian ShareMarket Improves After Slow Start

The Australian market rose higher today following an agreement for Greece’s second bailout. The data include benchmark S&P/ASX200 going up by 35.1 points or .82 percent at 4,291.2 points. On the other hand, All Ordinaries Index, rose by 35.4 points, equivalent to 0.82 percent, at 4,368.2 points.

These data went up when the news reached the local market at 1400 AEDT that Eurozone finance ministers had sealed a 130 billion euro deal bailout for Greece. With this deal, Athens’ government debt to gross domestic product ratio will be reduced back to 120.5 percent by the year 2020.

Australia's Accounting Companies on the Range for New Staff

Good news for those wanting to start a career in accounting companies. It has been found out that about a third of Australia’s accounting and finance firms are contemplating on hiring new staff.

Robert Half, an accounting recruitment firm, conducted a study that revealed that out of the 300 chief financial officers and finance directors surveyed, 82 percent believe and are confident that their businesses will be better this year. To add to this, more than 75 percent are expecting a better Australian economy. In fact, new staff is looking to be hired in the early part of 2012 by about a third of the companies.

RBA's Interest Rate Cuts Improve Business Conditions

Businesses and their conditions have shown a positive move with a rise of two index points to plus two points last month according to the business survey of the National Australia Bank. However, employment remains a problem.

"Profitability deteriorated in the month, while employment and trading conditions were unchanged. Labor market conditions remain soft and the overall outlook for near-term activity remains moderate," said the NAB.

Though there had been a deteriorating performance in the wholesale, transport and utilities, and construction sectors, mining, recreation, manufacturing, and personal services performed well.

NSW SME Businesses Feel Ignored, According to State's First Commissioner

Excessive red tape from the state government, councils and WorkCover are causing damage to small businesses in Australia.

According to Yasmin King, New South Wales' first small business commissioner, small business operators in the state are struggling to have their voices heard and are suffering under excessive regulation.

After six months into the job, Commissioner King was saying that her job is to ensure that small businesses are thriving rather than just surviving as she observed that small businesses in her state are struggling to compete with big players because it is being forced to pay excessive wages.

What are the New Small Business Trends for 2012

Setting up a business in this time of economic uncertainties can really be difficult. If any business does not sell or prosper, the investment would be wasted along with the time and efforts invested into it. But these things can be avoided if we try to look into what is probably going to sell in the next few days and months.

Lacklustre Australian Stock Market Finish Flat

Investors remain cautious prior to US’ release of its employment data resulting to Australian shares finishing weaker today.

Australia’s benchmark S&P/ASX200/ index went down by 16.6 points, or 39 percent, that is equal to 4,521.2. On the other hand, the All Ordinaries Index also went down by 13.1 points, or 0.3 percent, that is equal to 4.320.1 at the close.

With 19,799 contracts traded, the March share price index future contracts also went down by 22 points. Generally, there have been 1.89 billion shares that were traded for $4.22 billion.

SME Business Sales Exceed Expectations

Small businesses have done well over the Christmas period. The sales that they made over the said period had exceeded what was initially expected. However, the general figures of the calendar 2011 did not prove impressive despite the subdued conditions of the market.

Compared to the same month last year, the sales trends of small businesses show that in December 2011, there was an increase of about 3.3 percent according to ANZ Banking Group’s monthly Small Business Sales Trends. The report added that the growth had been continuous for eight months due to good performances in the mining states, and non-retail and service sectors.