Friday 10th February 2012

It’s been a big week (and not just because of the Super Bowl!) and here at MYOB, we’re very excited to see how many fantastic small businesses have been nominated already for the MYOB Small Business Award at this year’s Telstra Business Awards.  Is your business one of them?  There’s still time to nominate, so get to it!  And make sure you check out the inspirational story of the winner of the 2011 Victorian MYOB Small Business Award, Easy Weddings – who have used their win to build on their success – including launching their very own iPad app!

Before you run off to enjoy another weekend, make sure you check out latest from the news sites…

Reserve Bank holds the cash interest rate at 4.25%

And now the pressure is on the big banks to decide how they will react.  While it’s no secret that earnings are low thanks to a slump in loan growth (currently running at about a quarter of pre-GFC pace), interest rates are a key pain point for Aussie SME’s.  MYOB CEO, Tim Reed calls for more attention to be paid to business loans, as Australia’s engine room of small business owners usually fare the worst in terms of choice and interest rate cuts.

SME’s feel neglected

Here at MYOB, we’ve been passionately supporting small business, and we’re excited about the work New South Wales’ first small business commissioner, Yasmin King, is doing.  She highlights that ‘smaller operators in the state have struggled to have their voices heard and are suffering under excessive regulation’ and is calling on greater advocacy for the market.  Get in touch with her at via email at we.assist@smallbusiness.nsw.gov.au to share your views and stories.

No joy from official Christmas retail sales

The retail sector experienced it’s worst conditions in 27 years, with a surprise 0.1% slump in December figures.  Analysts point to the ‘lethal mix of consumer caution, rise of online spending, worsening global economic conditions and weather woes’ as the main factors in a cautious market, but are optimistic for continued improvement in conditions across 2012.

Small Business Owners lack tech security

A new study by the Australian Institute of Criminology (AIC) revelealed that while Australian business owners are embracing the internet, 16 per cent don’t use anti-virus software and 30 per cent don’t use a protective firewall.  Reduce your risk from an extensive and increasing number of internet threats by doing an urgent audit of your security settings – and don’t forget to check out these great steps that will help you safe guard your gadgets.

Google is about to shake up the way we search

Search is getting social, as Google unveils plans to roll out ‘Search plus Your World’.  This opt out feature displays both traditional search results, as well as your peer recommendations, sourced from your personal circle of influence.  What does this mean for business owners?  MYOB’s web dude explains.

 

Have a fantastic weekend!

 

Emma Mulquiney | Online Editor – MYOB