The options for buying pre-loved equipment for your business can be plentiful. They could include online marketplaces, retail, direct from an owner, via auctions or brokers. Maybe the gear is still within warranty or has been reconditioned, rebuilt, or is sold as is. The Ritchie Bros Annual Market Trends Report shows Australian figures for 2022 increased from […]
As a service-based business operator, you typically enjoy lower running costs than those selling products. Instead, you offer intangibles, such as skills, expertise and time. However, you’ll still need to manage your risk profile. Here’s how professional indemnity cover helps shield your business from potential risks and exposures. Service-Based Businesses’ Risks and Exposures Consider how […]
It’s important to keep the environmental risks of your building projects to a minimum. Here’s a checklist to help you manage these factors. Risk #1: Flooding Understand historical flood patterns and future flood maps. Keep an eye on expanding urbanisation. Buildings and sealed surfaces will impact natural water flows and create stormwater. , that could lead […]
As a business owner, you know how important it is to maintain the safety of your work fleet and have clear policies for staff using them. The cost of fleet accidents The social and economic costs of all road crashes in Australia are more than $30 billion each year, according to the Bureau of Infrastructure and […]
Small-to-medium-sized businesses make up 93% of Australian businesses that export. That’s according to the most recent figures (2020-21) from Austrade’s State of Exporters Report. The typical small-business exporter had a turnover of almost $5 million and operated in just one market. However, the DHL Export Barometer report found that almost half of all businesses surveyed planned to enter […]
As a commercial property owner, it is important to understand your responsibilities and ensure that you have the right insurance coverage to protect your property against potential damages. Unoccupied buildings During the pandemic, commercial buildings were often unoccupied temporarily or indefinitely. That can still happen today with the soft tenancy market in some parts of […]
While fewer severe storms, such as cyclones and floods, are predicted for Australia’s east coast, according to global research published recently, those storms will be more intense. They may also head south along our coasts on both sides of the country, says CoastAdapt. While building codes, such as the wind-loading standards, are currently very effective in reducing losses […]
Mining has been one of Australia’s most profitable industries in 2022-23. Iron ore and coal mining, oil and gas extraction collectively account for $170 billion in total profits, notching three of the top 10 positions in the national list. But managing the risks involving people is one of the key concerns for businesses in this sector. Safe Work […]
Franchising can be a great way to start a business with a ready-made model and resources for a fee. Research shows that four out of 10 franchisees used to work for the franchisor, making it a natural transition. Franchising is a mature sector in Australia, so franchisors are becoming creative in finding ways to expand. Even part-time […]
Australian builders are experiencing slim margins, but to help with costs, it pays to have a tight rein on your risk management. We’re not quite seeing what’s happening in the UK, where builders are pulling in the profits, charging a 10% premium over the price of an existing home. Back in Australia, you do have some […]
