Diann Cockburn’s Post

SMEs are the backbone of Australia’s economy, making up more than 99% of businesses in Australia. And while we know these businesses are filled with resilient people, they’re telling us they’re facing six key challenges that are holding Aussie SMEs back. They are:   1. Hiring and retaining staff  2. Too much red tape  3. Cyber attacks  4. AI & digitisation  5. Access to growth capital  6. Resilient supply chains  Read the full NAB report to find out more... https://lnkd.in/gV8EDU7J

In today's dynamic economic landscape, small businesses are the backbone of our economy, innovation and job creation, yet they encounter unique hurdles. We explore key factors such as: - Rising cost of living - Decreased consumer spending - Hiring & retaining employees - Cyber Security - AI & Digitisation I invite you to read and engage with the findings. Let's work together to empower small businesses and create an environment where they can thrive. #Nabnews #SME #smallbusiness #innovation #businesschallenges

The latest Umpqua Bank Business Barometer reveals a stark contrast in optimism between middle-market companies and small businesses. While middle-market firms are embracing growth and technological advancements, small businesses are grappling with significant economic challenges that hinder their ability to invest in critical areas like cybersecurity. Truly a tale of two economies. As someone deeply invested in the success and resilience of small businesses, this disparity is troubling. The financial constraints and lack of specialized expertise leave small businesses vulnerable to increasingly sophisticated cyber threats. It's not just about staying competitive; it's about survival in an evolving digital landscape. "Middle-market companies are making major investments in digitization and cybersecurity, while small businesses struggle to keep up due to financial constraints." Small businesses must adopt strategic, collaborative, and proactive cybersecurity measures. Leveraging partnerships and prioritizing fundamental security practices can help bridge this gap. We must support small businesses in building robust cybersecurity frameworks that protect their operations and pave the way for sustainable growth. Understanding and addressing these challenges is crucial for ensuring that small businesses remain secure and competitive. The struggle is undoubtedly real, but a clear path forward to cybersecurity resilience is possible.

Are you ready to elevate your IT and cybersecurity in 2025? If you're considering outsourcing, our comprehensive Managed IT Services Buyer’s Guide provides the insights and confidence you need to choose the best path forward, including: ✅ Understanding managed IT services. ✅ Knowing when your SMB should consider outsourcing. ✅ Key managed IT services every SMB needs. ✅ What to expect from a managed services #Investment. ✅ How to choose the right IT provider. ✅ And many more resources! Don’t miss out on the opportunity to make informed decisions that will drive your #SmallBusiness forward in the new year. Download your free buyer’s guide today and start 2025 with confidence! #Entrepreneur #Budget #Finance #FinancialPlanning #TechTips #Business #TealMSP https://hubs.li/Q02NRyMF0

CASH FLOW TIPs 𝗗𝗼𝗻'𝘁 𝗮𝗰𝘁 𝗹𝗶𝗸𝗲 𝗮 𝗯𝗮𝗻𝗸: Request an upfront client deposit for larger projects On big projects, a better policy would be to ask for an upfront client deposit. Here are the main advantages of this approach: 𝗖𝗼𝗺𝗺𝗶𝘁𝗺𝗲𝗻𝘁: An upfront deposit secures some severe gesture on the part of your client, which makes them have 'skin in the game' and much less likely to drop out or delay the project. 𝗤𝘂𝗶𝗰𝗸 𝗖𝗮𝘀𝗵 𝗙𝗹𝗼𝘄: With a deposit, you can have immediate funds to cover project start-up expenses such as material purchases, additional labor, or other supplies that would otherwise strain your cash flow. 𝗟𝗼𝘄𝗲𝗿𝘀 𝗿𝗶𝘀𝗸: A deposit reduces the financial risk to your business and provides a buffer against potential non-payment or disputes later in the project. 𝗜𝗺𝗽𝗿𝗼𝘃𝗲𝘀 𝗣𝗹𝗮𝗻𝗻𝗶𝗻𝗴: Knowing you have secured funding allows for better planning and allocation of financial resources, ensuring the project starts smoothly and maintains its flow. For instance, one of my clients owns a small IT service company. They implemented a 50% deposit requirement for all big projects, ensuring regular cash flow and minimizing cancellations, disputes, and arguments over projects. This made their business more predictable and profitable. #BusinessGrowth, #Entrepreneurship, #SmallBusiness, #IT, #cybersecurity

🚀 Great news for Queensland's small businesses! The new $250 million Queensland Small Business Strategy is here to boost opportunities, capability, and diversity. Over the next three years, this plan will provide grants, free financial counseling, cybersecurity support, and simplified procurement processes to help small businesses thrive. Read more here: https://lnkd.in/gbggP59V #SmallBusiness #QueenslandGrowth #BusinessStrategy #Procurement #SupplyChain #ProcurementAustralia

Not taking security seriously is a common mistake many small businesses make. Choosing the right security system is crucial for small businesses to protect their assets, employees, and customers. In this guide, we'll explore the best security systems available, highlighting their features and benefits to help you find the best security system for small businesses. Read the full breakdown here: https://lnkd.in/gJZhus-A _______________________________________ #smallbusiness #smallbiztips #entrepreneurs #businesstips #howto #shopsmall #smallbusinessinfo #smallbusinesshelp #moneyforsmallbusiness #investinginsmallbusiness #investing #invest #business #finance #smallbusinessfinancetips

Applications for the digital boost grant are closing on Sep 13 (NEXT Friday). Harlow Council are keen to use the entire pool of money but there's a short application window. Here's some additional info for anyone interested in applying that I got from the business forum this week: - Max grant is £2.5k but you can ask for less for smaller projects - This is match-funded, so if you pay £2.5k, Harlow pays £2.5k - You have to cover the full cost up front, but they will reimburse as soon as you have an invoice and show the project is started - Projects DO need to demonstrate that they're started but don't have to be completed to receive reimbursement - It's not available to cover ongoing costs like salaries or rent - Harlow Council is open to novel and new ideas to use the funds even if they haven't been specifically outlined in the grant #grants #funding #opportunity #harlow

Great interview by Illumio's CEO on Sky News discussing ransomware, the state of cybersecurity globally, and plenty more insights on the business. Check it out!

Great interview by Illumio's CEO on Sky News discussing ransomware, the state of cybersecurity globally, and plenty more insights on the business. Check it out!