WAYS TO REDUCE COSTS AND INCREASE BUSINESS PROFITS

 Hello all,

When I was going through a rough patch as a business owner, I knew that I would not be able to recover without making big changes in the organisation. An experienced member of my team came up to me and told me about reducing the fixed and variable costs of operating the business. We started doing it and it helped us a lot. The next step was to make the profits swell and we introduced a premium product range for the same. It worked wonders for the business as there was no loss of customers and the gamble paid off. Here is an article that will show you the way of doing the same with your business. 

https://www.business2sell.com.au/blogs/strategy/ways-to-reduce-costs-and-increase-business-profits

Kogan books first December half loss since IPO

 Online retailer Kogan (ASX: KGN) entered a trading halt today shortly after reporting an $11.9 million loss for the December half - a period that is usually its busiest between Christmas and Black Friday sales, in which it had never before been in the red since listing on the ASX in mid-2016. 

The company attributed the loss to continuing supply chain interruptions as a result of the current COVID situation.

This followed an FY21 result that was still in the black at $3.5 million but represented an 86.8 per cent year-on-year fall as the bottom line was pushed down by "one-off" inventory, logistics and Mighty Ape acquisition costs.

Read More: https://www.businessnewsaustralia.com/articles/kogan-books-first-december-half-loss-since-ipo.html

Booktopia in a bind as staff shortages leave imprint

 Online bookstore giant Booktopia (ASX: BKG) has reported earnings fell by 49 per cent to $4.1 million for the December half as lockdowns across Sydney led to labour shortages.

The group’s distribution centre in Lidcombe was subject to some of the most restrictive lockdowns in New South Wales, which made managing the facility “difficult” throughout 1H22.

Due to problems staffing the centre, distribution costs increased from $1.42 per unit to $1.65. To manage the strain, the company onboarded new permanent full-time employees.

Read More: https://www.businessnewsaustralia.com/articles/booktopia-in-a-bind-as-staff-shortages-leave-imprint.html

Tenant and landlord relief, alfresco program part of new $67m WA funding for businesses

 The Western Australian Government has today launched an additional $67 million of assistance packages to support businesses affected by COVID-19.  

As cases start to increase exceptionally within the state, the measures aim to assist small businesses with cash flow and support safe trading.

The package includes up to $6,000 in rent relief, outdoor dining and entertainment support grants, as well as further funding for business counselling services.

Read More: https://www.businessnewsaustralia.com/articles/wa-government-announces--67m-of-additional-covid-business-support.html

TRAITS OF A MOTIVATED AND SUCCESSFUL FRANCHISEE

 Hello all,

As a franchisee who has spent half of his life running a franchise business, I know the hardships that are faced by our community. We must be strong individuals who can become a part of the network and yet have the courage to create a unit that stands out. It requires much more than simply running a business according to the Franchise Code of Conduct and the Agreement. You must have the traits of a motivate entrepreneur who can make things work without getting stressed or losing his cool. It is one of the biggest mistakes that can take the business down. Thus, franchisees need to be patient and hard working. Here is an article that will tell you about their other traits. 

https://www.franchise2sell.com.au/blogs/evaluation/traits-of-a-motivated-and-successful-franchisee

Authorities urge Queenslanders to return to the office amid COVID-19 but experts say working from home is 'the way of the future'

 Queenslanders are slowly returning to offices and workplaces across the state after enjoying the freedom and flexibility of working from home for several months amid the COVID pandemic.

Premier Annastacia Palaszczuk has voiced her desire for workers to return to the office now schools have resumed face-to-face learning.

But after two years of rolling restrictions, experts have warned the transition back to the office could pose challenges for some businesses and employees.

Read More: https://www.abc.net.au/news/2022-02-10/qld-coronavirus-covid19-working-from-home-return-to-the-office/100809588

Joe Biden praises Australian electric car charging manufacturer Tritium

 A Brisbane-based Australian company is charging onto the world stage, welcomed to the White House by US President Joe Biden.

EV fast charger manufacturer Tritium is now electrifying highways across North America and it all started in a Brisbane garage.

"It would be an understatement to say this has been a very exciting month for Tritium," CEO Jane Hunter told 9News.

The Aussie company, solving an old problem in new tech — how long it takes to charge an electric vehicle.

Read More: https://www.9news.com.au/national/brisbane-based-tritium-electric-charger-company-joe-biden-whitehouse-us-production/184e4a56-272c-41aa-8db4-01f81cc368e8

Free parking to drive business in Brisbane’s CBD

 Brisbane lord mayor Adrian Schrinner has called on the state government to consider discounting public transport fares after council announced free or cheaper parking across the city for the rest of the month.

From Wednesday, Brisbane’s 7869 metered parking spaces in inner-city areas will be turned off, while prices will be halved at the King George Square and Wickham Terrace car parks.

However, time limits for car spaces will still apply.

Cr Schrinner said the free parking would coincide with the return of office workers and students to inner-city areas.

Read More: https://www.brisbanetimes.com.au/national/queensland/free-parking-to-drive-business-in-brisbane-s-cbd-20220208-p59upw.html