End of Year Spending
A brand new tractor being unloaded at a farm in Western NSW
The end of the financial year has come and gone, with its last weeks being met with a flurry of spending from the small business sector trying to take full advantage of the small business tax bonus.
Whilst travelling through farming land near Dubbo in New South Wales it was clear that for many farmers, at least, this was ringing true. In a trip to one machinery dealership I saw a very busy staff tending to their farmer customers, taking the opportunity to purchase and update equiptment such as tractors, spray rigs, and slashers. One farmer, who was a bit embarrased to be seen to be “overspending in the GFC” (Global Financial Crisis) was put at ease when he found out that a new tractor would soon be delievered to most of his neighbours as well.
Some people who accuse farmers ‘crying poor’ will take this article to say that they have plenty of money thet they’re happy to throw around. However, I must stress that the farmers mentioned have been very fortunate over the past two years, living in a small pocket that has (recently) been less effected by drought than other areas where the rain still hasn’t come at the right time. Spending on new equiptment and farm improvements also increases the ability of farmers to implement more sustainble farming practice.
Best of luck to all the agricultural business people out there!
Signing off,
Louise.
What can Twitter teach?
The first thing I did this morning was turn on the radio just in time to catch the news. (Sadly) the second thing was to search ‘Michael Jackson’ on Twitter. Even half asleep I had known that the news would be making Twitter tidal waves. And something that shocked me - I was more willing to trust Twitter, than I was our national broadcaster.
A minute after the first search results appeared, my browser informed me that a further 4500+ Tweets had been published featuring the words ‘Michael Jackson’. Thats about 75 Tweets per second farewelling the King of Pop.
News of Farrah Fawcett’s death also broke some time this morning, with the news about the Charlie’s Angels star also impacting on the Tweet Stream. At the moment of writing the trending topics on Twitter are a mix of Farrah Fawcett, Michael Jackson, Rest in Peace and, an event in may become Twitter’s defining moment (although not to downplay the gravity of the situation in any way), Iran’s Elections .
Meanwhile, while everyone was online expressing shock, showing the unity a good online network can inspire, there were some out there hoaxing us all with fake messages that celebrities Jeff Goldblum and Harrison Ford has also died.
The events of this morning may still be unfolding, but what we’ve learnt from Twitter so far is that it doesn’t take much for 140 characters to go viral, and fast. While sometimes this communication can spread real news effectively at an unparralled speed, we must also remember this technology can spread fake and more sensationalised news just as fast. Those news outlets who have become too reliant on Twitter Streams for news stories need to remember that their reputations rest on their accuracy, and sometimes it only takes a phonecall to verify the real facts.
Yes we have a world of information at our fingertips, but as my dad would say: ‘engage brain first’, then google.
Signing off,
Louise.
Customers are downsizing their meals but still happily going out Down Under
Australia is officially not in recession. That is what recently released growth figures suggest. While traveling around the country though, it becomes apparent that many jobs have gone, unemployment is rising, consumer confidence is lagging and people are getting more cautious when it comes to spending their money.
So we had a look at a few industries and asked how the business owners fared: much to our surprise, restaurants and their suppliers are not feeling the crunch at all. “At best our customers are ‘downsizing’ their meals and drinks,” explains a chef of one of the well known restaurants in Sydney. Gone seem to be the days, when $200 bottles of wine were opened at lunchtime.
“People rather spend $30-40 per bottle for a wine and still are happy with their drinks,” mentions Mark Bourne, General Manager at Cuttaway Hill Estate.
Wine cellar Aqualuna in Sydney
In my view, this kind of adjustment to reality is probably a good thing.
Anabel
Is there hope for Australian real estate?
With quite a few business groups on ZaaBiz focusing on investments in real estate sectors, it is highly interesting to see how these fare in the current global financial crisis.
The private property markets received boosts with the first home owner grants, extensions of the like and we have really seen these mainly younger buyers storm the market. The latest tax changes in NSW now incentivise second home buyers (or better all buyers that are not first home buyers) to save half of their stamp duty (if the value of the new home is less than $600,000).
Modern office building in Canberra
Together with current new developments at a record low, the industry this morning announced that the worst phase is over - a pretty bold statement these days. Join our real estate business groups on ZaaBiz and have your say.
Our next business networking event in Sydney in June
ZaaBiz and Infusion are hosting our next business networking event in Sydney’s CBD on Wednesday the 17th of June. Join us from 6:30 - 9:30pm with speaker action from 7:15pm.
WHERE: BEC, Clearly Business Centre
Central Square, Level 19, 323 Castlereagh Street, Sydney, (2 min walk Central Station)
COST: Infusion Members FREE*, Early Bird $20 (till 12 June), General Online Pre-paid or RSVP $25, At Door $30
ONLINE BOOKINGS: http://www.stickytickets.com.au/1859
RSVP: By Monday 15 June to sandra@infusion.org.au
* Applicable for Individual, Small Business and Corporate Memberships. Attendees will also receive FREE entry on the night if they sign up as members.
ZaaBiz Infusion event in Sydney
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This lively, entertaining presentation will use case histories and storytelling to explore why there’s never been a better time to work on the development of your business. Brimming with unique concepts, valuable tips and low cost tools, Up and Away is precisely the tonic needed for these challenging times.
Robert Gerrish is a sought after coach and consultant to sole traders and small business owners. He is the co-author of Flying Solo – How to go it along in business with Sam Leader, and has had more than 130 articles published across the News Limited titles Dynamic Business, Marketing and My Business, and other regional and national newspapers, magazines and newsletters.
Robert has been a business commentator on ABC TV’s 4 Corners, Channel 9’s A Current Affair, ABC Radio and 2UE, and a guest on Radio Q, the Qantas inflight service. He also presents workshops for solo and small business owners.
At our exclusive June Infusion Networking Night, Robert will address the following areas:
• How a change of thinking, changes outcomes
• Methods of working efficiently and effectively
• Getting the attention of potential customers and the media
• Simple actions that will create lasting results
• And much more interaction and participation…
So if you’re going it alone in business, run a small business or know someone who does or perhaps you’re keen in ‘flying solo’ then you should definitely attend this month’s Infusion Networking Night! It’s bursting with great ideas and valuable information that will help your business plans and goals.
This networking evening will be a great way to network with other business owners and professionals (local and international), so:
• Bring lots of your Business Cards
• A 2-minute pitch about your business
• Promote your business, bring a prize and join our Prize Pool (please email sandra@infusion.org.au if you’re interested or to find out more)
