Finance News

From the monthly archives: August 2019

We are pleased to present below all posts archived in 'August 2019'. If you still can't find what you are looking for, try using the search box.

There are four types of shopper - which are you?

Posted on Monday, August 19, 2019
The retail landscape has changed remarkably over the last few years, and the way we shop has naturally changed with it, but not necessarily in the way retailers might have expected. The conversation has come from an article written by Mark Bouris, which argues that Australia’s major retailers are in recession due to these changing shopping trends, and that small businesses have the most to gain from the swing away from the Coles and Woolies of this world. I think four distinct buyer types have emerged, when it comes to the regular weekly household shop: The bulk buyer: loves Costco and Aldi, does a massive shop as rarely as possible and will seek out these big discount retailers in order to save some coin. The online buyer: hates shopping centres and the hassle that comes along with them – traffic, parking, crowds. As a result, does their weekly shop online and avoids the shops at all costs. The local shopper: will do the weekly shop at the supermarket in order to secure the bes ... Read the rest of entry »

There’s no business like snow business!

Posted on Monday, August 12, 2019
Over the last 12 months Australia’s ski fields have been a significant contributor to economic growth, with the visitor economy soaring to $30 billion, reflecting growth of 20%. The double-digit rise from visitor and local spending across Victorian and New South Wales snowfields created the equivalent of more than 10,000 full time jobs. And yet, due to the perception of snow sports as a luxury holiday pastime, these booming economies are not being credited for their success through government assistance to support their ongoing growth. Yesterday I was fortunate to speak with Lottie Grimus, who together with the late Hans Grimus, is a pioneer of the snow sports industry in Australia. She highlighted that behind the leisure and luxury there are huge challenges for seasonal snow businesses, that require astute management in order to ensure they don’t go bust. Lottie highlighted that snow businesses essentially run like farms, as they need to take a lot of the same variables into a ... Read the rest of entry »

The federal tax nobody is talking about

Posted on Monday, August 5, 2019
The latest inflation figures are out and with inflation up 1.6% in June, I expect there’ll be no movement on interest rates by the RBA this month. But along with the inflation rate being up, new figures from the ABS show a sleeping giant that’s driving the cost of living and the cost of doing business through the roof – and nobody is talking about it. The latest ABS figures show the cost of petrol is up 10% on average over the past quarter. That’s a huge impost on businesses and families. The increase is even more dire in some rural and regional areas, where fuel costs have increased by up to 20%, slugging farmers, truckies and tradies. Fuel costs are a huge burden for many businesses, with spikes like this impacting budgets and balance sheets. Of course, the cost to business is inevitably being passed on to consumers, who are left with no choice but to cop the increased fuel cost, as well as the increased cost of purchasing anything from a business that also has to pay more for f ... Read the rest of entry »

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