by fmadmin | Oct 7, 2020 | Content
Overnight, the Australian Government delivered what has been deemed the ‘coronavirus budget’, the plan to salvage our economy from the trauma that was 2020. With a strong emphasis on job creation, it was unsurprising to see that small businesses were amongst the winners in this latest budget.
Hitting education, jobs, small business, environment, infrastructure, mental health and low and middle income tax payers, this budget resulted in the largest deficit in Australia since the end of World War II. Fear not, the $213.7 billion deficit is expected to be almost halved by 2021/22, with a deficit of $112 billion.
The new budget features up to 10 tax concessions for small and medium businesses, with some key perks highlighted below:
Businesses with a turnover of less than $5 billion (almost 99% of Australian businesses) can deduct the full cost of capital assets, provided they are purchased after 6 October and first used or installed by 30 June, 2022.
Small and medium businesses will be eligible to apply ‘full expensing’ to second-hand assets.
Businesses with less than $5 billion can offset losses incurred up to June 2022 against previous profits made in or after the 2019-19 financial year on which tax has been paid, generating a refund.
The SME Loans Guarantee Scheme has been expanded to allow eligible businesses to apply for secured loans of up to $1 million and unsecured up to $250,000 with repayments made over five years.
To aid in job creation, businesses are now exempt from paying 47% fringe benefits tax on retraining employees who have been made redundant or are due to be made redundant, to take on a new role within the business. This is supplemented by the ‘JobMaker’ wage subsidy which provides a wage credit of up to $200 for new hires aged under 35.
The budget also makes a $4.5 billion investment in NBN Co and commits $29.2 million to accelerate the rollout of the 5G network, alleviating the stress of connectivity issues.
While not everyone gets a win with the budget every time, it is a relief to see a strong focus on job creation and keeping Australia’s small and medium businesses afloat.
by fmadmin | Sep 29, 2020 | Training
I started Focused Marketing equipped with extensive experience in tender writing and marketing gained while living in London and Sydney. What I wasn’t experienced in, was navigating the ebb and flow of running a business and at times the economic shocks that would occur on a national or global scale.
Now 14 years on, having successfully steered my business through the GFC and other economic uncertainty, I began reflecting on what helped me get through these times that might be beneficial for new businesses as we enter a new period of concern.
3 tips for new businesses to endure economic downturns
- Implement a resilient attitude
One of my favourite sayings to my team is ‘just keep swimming’. Sometimes, when your ‘to do’ list is piling up, you just have to line up your tasks, put your head down and work through them; irrespective of the storm that’s happening around you.
Make sure everyone in your team is clear on what the priorities are for the day/week/month. Providing a clear objective helps them focus and get through their projects while ensuring they’re prioritising the work that is most important to business survival/success.
- Get your house in order
Never underestimate the reduction in stress that being organised can bring to your business and your team. Knowing where important information is, keeping track of cashflow and having clear processes in place takes the day-to-day stress off you and your team.
Super, tax, and Christmas shut down periods are not emergencies! They happen every quarter or year and consequently money should be put aside every month. Putting money aside to cover these costs helps to keep your business running smoothly and reduces any costly legal mistakes.
- Build a support network
Being responsible for your own business and a team is stressful and well-meaning friends and family just don’t quite understand. I started Connect the Dots as a way of bringing together other female small business owners. It serves as a much-needed support group for bouncing off concerns and ideas with like-minded individuals.
Right now, we could all do with some extra support, so reach out to your support network whenever you can – remember, they’re in your corner.
Focused Marketing helps businesses of all sizes and industries, with our team experienced in strategic marketing, branding, graphic design, communications and website development, we’re ready to help Australian businesses thrive this year and beyond.
by fmadmin | Sep 21, 2020 | Content, Strategy
This month we gave our vocal cords a work-out as we serenaded ourselves with the world’s most famous song, “Happy Birthday”, as we rung in our 14th year. Little did we realise, we narrowly skipped a hefty royalty fee!
Unbeknownst to many, the “Happy Birthday” song is copyrighted and has been raking in over $2 million per year in royalties. The original version of the song, “Good Morning to You” was composed as a children’s song in 1893 by Patty and Mildred Hill. It is unknown who changed the lyrics, but the melody was copyrighted and subject to royalty payments each time it was played for commercial purposes. There’s been some controversy around who owns the copyright over the song’s lifetime, but it looks like it is due to expire in 2030.
While this fun piece of birthday trivia made for stimulating conversation over birthday cake, it got us thinking about the importance of owning what’s yours. Your brand’s equity is one of your most important assets, and all the elements that comprise this equity should be fiercely protected.
The drastic change that we’ve seen to commerce in response to COVID-19 has made it clear that brands have more value than ever. While businesses have struggled to stay afloat, we have seen a rise in consumer loyalty as shoppers scramble to prop up their beloved brands.
Consumers are far more conscious about where they spend their precious dollars right now, so they are thinking not only about the short term benefits of their purchase but the long term – will the brands I really love be around in six months’ time? What am I doing to make sure they are? Rather than looking for the best price, despite the economic pressure many of us are facing, consumers are willing to spend a little extra if it means keeping jobs in the community or supporting someone local.
This conscious form of consumerism where customers actively buy products from brands they feel deserve their support is known as ‘buycotting’ and unlike the word’s counterpart, it’s something you want to encourage.
As purse strings tighten and we become more aware of the fragility of small business, people are more thoughtful than ever about where their dollars are really ending up and if the recipient is worthy of their hard-earned cash. The brands who are benefiting from this buycotting culture are those who have nurtured relationships, who invoke an emotional connection with their customers and who clearly communicate who they are and what they stand for.
Owning your brand is a crucial step to achieving this deep level of loyalty from your customers. Having a strong image of what constitutes your brand and everything that it represents is what helps customers form these emotional bonds. Your brand’s equity is made up of more than just your logo and website – it’s all about how you do business. It’s the warm smile at the cash register, the handwritten note you pop in with deliveries, it’s remembering the names of your regulars and demonstrating that you share their values. It is important to tie all of these intangible assets to your tangible ones (like your logo and website) so that people can easily make the connection between their positive feelings towards your business and your actual brand when making purchasing decisions.
To achieve this, it is critical that you not only have a strong brand, but you have control over all the elements of that brand and have ownership of them, be it trademarks, social media handles (and their associated login details!) or owning associated domain names wherever possible. Take a leaf out of Patty and Mildred’s book and recognise what you’ve created, and guard it with your life!
by fmadmin | Aug 23, 2020 | Uncategorised
There is no denying that the world is forever changing. With recent events and the increasingly common debates around climate change, it is hard to ignore. We see so many people making grand gestures to help the environment, but sometimes, the smallest changes can have the biggest effect.
Here at Focused Marketing, we are big believers in being as environmentally friendly as possible. Here’s a few of our favourite tips on how you can make your workplace eco-friendlier:
- Put away the paper.
Boasting about a paperless office is a lot harder than it seems. But taking the steps to using less paper is easy! Start small by emailing where you can and setting up your printer default to double sided.
- Consider your commute.
Depending on where your workplace is located, you may be able to consider different options for your commute to work. Not only will the train or bus potentially save you money, but it also offers health benefits and additional time to catch up on those emails (or even that book you haven’t picked up in a year!)
- Eco-friendly office supplies.
This one can take a bit of creative thinking. There are of course the basics, such as recycled printing paper and rechargeable batteries, but challenge yourself to think of a few more. For example, why not grab some recycled toilet paper and paper towel (these guys are great – www.whogivesacrap.com.au). Got a coffee machine? Invest in some reusable pods, or at the very least, eco-friendly compostable ones. There are plenty of environmentally friendly options available once you really start looking.
- Go green when you clean.
Whether you clean the office yourself, or hire a professional, investigate the cleaning supplies that are being used. Ditch the harsh chemicals and instead try some natural all-purpose cleaner, such as Koala Eco.
- Encourage your employees.
To make sure you’re on the same page as your team, encourage ways that you can all help together. If you’re in a big office, start a sustainability team – together they can raise awareness and accomplish more. If your office is small in size, encourage your colleagues to make little changes, such as reusable coffee cups and straws and ensure everyone is across your recycling program.
Whilst Kermit may not agree, by simply implementing these few small changes at your home or office, being green really can be easy.
by fmadmin | Jul 28, 2020 | Content, Digital
Is it just me or does it feel like words are disappearing from the web and our lives?
Not only are we favouring social media that’s heavy on visuals, like Instagram and Pinterest, even social media apps like Twitter – that are all about words – are limited to 280 letters.
I noticed this decline in written content, when I went to a news article site and a video started playing. Later, scrolling through various websites, I noticed in horror that some small business websites were completely devoid of written content. Instead they filled their websites with nothing but pictures, videos and icons – no welcome paragraph or what services they offer or the benefit of choosing them over their competitors – nothing. Na-da. Zilch.
Personally, I think we have forgotten the significance of writing and reading to communicate, and that not everyone prefers audio and visual. Some of us – and yes obviously being a writer and all, I am the ‘some of us’ – would prefer to read and write to communicate rather than be spoken to or bombarded with vivid images, videos and noise.
Even in our personal lives it feels like the majority of stories are now told via video, audio or Gifs? Between listening to podcasts on the way to work, scrolling through Insta in our lunch breaks and sitting down to watch Netflix in the evenings, we are missing the quiet and calming effects that reading stories can bring to our lives.
And it turns out science is on my side. Huh! According to a journal article published on the National Center for Biotechnology Information (NCBI) website, more screen-time has been linked with shorter sleep duration, decreased sleep efficiency, and longer sleep onset delay.
So, why do we now lean towards visual and audible aids compared to words on a page or online? Because it’s easier! Having a book read to you requires no arm strain due to holding said 1-kilogram book (hard cover anyone?), and relaxing in front of the telly watching a story unfold before your eyes means no work for your imagination to conjure the characters and settings found in words.
Hey, don’t get me wrong, I love the easy way too, but I do call for a reprieve from the excessive amount of audio and visuals now found online that are taking over the way we communicate to our clients and customers.
I think the last few years has seen a resurgence in simplicity, and while making bread from scratch and knitting is becoming almost trendy, I think an increase in the amount of people retreating from the visual and auditory disruptions we receive constantly throughout our day is the next trend.
Perhaps, this is the answer businesses have been looking for to cut through the online competition. By delivering your online branding and communications through the use of a unique tone of voice (that’s lovingly weaved into quality written copy), could make you stand out in the crowd.
Let’s bring back the words, for a simple and effective way to inform clients and customers of what you do best, without all that noise and eye strain.
If this article sounds like your website and you’re not sure where to start, order our personalised website review online to get expert advice on how to improve your website and online presence yourself.
