New ASUS OLED laptop lineup pushes the boundaries with groundbreaking designs, extreme performance, and premium durability

KEY LAUNCHES

• ASUS’ comprehensive OLED lineup is now becoming available in Australia, combining distinctive designs, latest-gen performance and stunning displays
• Zenbook 17 Fold OLED | Pricing and local availability coming soon
• Zenbook 14X OLED Space Edition | $2,499 | Available now
• Zenbook 14 OLED | From $1,899 | OLED model available soon; non-OLED, non-touch IPS version available now
• Zenbook Pro 16X OLED | Pricing and local availability to come soon
• Zenbook Pro 14 Duo OLED | $3,799 | Available from beginning of September

ASUS has today announced its latest lifestyle lineup which is soon available in Australia, making it the most comprehensive lineup of OLED devices available in the market.

With the Zenbook 17 Fold OLED, Zenbook 14X OLED Space Edition, Zenbook 14X OLED, Zenbook Pro 16X OLED, Zenbook Pro 14 Duo OLED, ASUS’ lineup harnesses incredible OLED technology with the goal to make it more widely available for people across a range of budgets.

“OLED technology has previously been quite limited in laptops, however ASUS is continuously committed to pushing the boundaries of the PC industry by bringing innovative technology to more people with multiple use cases, from enterprise level work to consumers and creators,” said Bradley Howe, Head of Consumer at ASUS Australia.

“As part of this commitment, the world’s first foldable laptop, the Zenbook 17 Fold OLED, and the Zenbook 14X OLED Space Edition, a laptop capable of withstanding extreme temperatures, are just two examples of our vision to offer brilliant solutions to people everywhere.”

ASUS’ move to OLED technology has been at the forefront of its plans given findings that the technology is facing increasing demand, with the market expected to grow to USD 85.4 billion by 2030, from 38.4 billion in 2021. 

Aside from demand, “ASUS recognises the benefits this technology can bring to the user, which we believe is an essential part of providing the best user experience, whether you’re casually watching a movie, editing art or photography, or doing your everyday office work etc.” said Bradley Howe, head of Consumer at ASUS Australia.

ASUS’ OLED displays offer a host of benefits including 100% DCI-P3 best in class colour gamut, offering precise colour work, creativity and more vivid visual entertainment. It also offers 120Hz /0.2 ms ultimate motion clarity, clearer images at any brightness, deeper true blacks and offers 70% less harmful blue light.

Zenbook 17 Fold OLED (UX9702AA) | Pricing and local availability coming soon

ASUS has worked closely with Intel and BOE Technology Group to unleash Zenbook 17 Fold OLED, the world’s first 17.3-inch foldable OLED laptop. The boundary-pushing design offers two sizes of OLED display in one device: a large 4:3 17.3-inch 2.5K touchscreen that folds in the middle to create two seamless 3:2 12.5-inch 1920 x 1280 displays. Combined with the full-size ASUS ErgoSense Bluetooth^® keyboard and touchpad, the folding design provides the versatility of multiple modes — PC, Laptop, Tablet, On-Screen Keyboard, Book and Extend. 

For immersive entertainment, the PANTONE^® Validated, foldable OLED touchscreen — which is also TÜV Rheinland-certified for eye care and has a 100% DCI-P3 gamut — is accompanied by Dolby Vision^® HDR for ultra-vivid picture quality along with Dolby Atmos^®1 immersive audio and a powerful quad-speaker Harman Kardon-certified sound system.

For next-generation smart capabilities, an HD IR camera works together with Windows Hello and the new Intel Visual Sensing Controller chip to enable several new AI-powered features, including user-presence detection; an integrated colour sensor for automatic adjustment of screen brightness and colour temperature; and a 5 MP webcam with ASUS 3D Noise Reduction technology for clearer video calls. 

To ensure effortless performance and connectivity, the laptop delivers the latest 12th Generation Intel Core i7 U-Series processors, Intel Iris^® X^e graphics and two USB-C^® Thunderbolt™ 4 ports, which support fast charging of the 75 Wh battery and connections to external displays. 

Co-engineered with Intel, the Zenbook 17 Fold OLED design meets the requirements of an Intel Evo™ laptop through Intel’s hardware specifications and key experience targets for responsiveness, instant wake, battery life, fast charge and intelligent collaboration. 

Zenbook 14X OLED Space Edition  (UX5401ZAS)  | $2,499 | Available now

The exclusive Zenbook 14X OLED Space Edition is a prestigious special-edition laptop built to commemorate the 25th anniversary of the ASUS P6300 laptop’s 600-day space mission and to represent the ASUS ‘In Search of Incredible’ brand spirit.

Featuring unique space-themed design details and finished in a special Zero-G Titanium colour, Zenbook 14X OLED Space Edition celebrates a key milestone in the history of ASUS laptops and encourages users to start their voyage of discovery and explore beyond the limits.

Exclusive to the Space Edition is its futuristic ZenVision, a 3.5-inch OLED companion display mounted externally on the lid that can show customisable messages and animations.

Built to withstand the rigours of space travel, the Space Edition complies with the ultra-tough US Space Systems Command Standard SMC-S-016A testing protocols, so it is capable of withstanding extreme temperatures (-24 to 61° C) when operational and vibration (20 – 2000 Hz).

This out-of-this-world laptop is built to deliver stellar performance, powered by up to 12th Generation Intel Core i7 H-Series processors, Intel Iris X^e graphics, 32 GB RAM, a PCIe^® 4.0 x4 SSD and Intel WiFi 6E. The expansive 16:10 2.8K 90 Hz OLED HDR PANTONE Validated touchscreen delivers ultra-realistic DisplayHDR™ True Black 500-certified visuals, with a 100% DCI-P3 gamut and TÜV Rheinland-certified eye care. 

Zenbook 14 OLED (UX3402ZA) | From $1,899 | OLED model available soon; non-OLED, non-touch IPS version available now

The all-new Zenbook 14X OLED is a powerful, sleek and lightweight 14-inch laptop that sets a new benchmark for portable perfection. This latest generation introduces a modern look and feel to the Zenbook series, with a bold new lid design and two elegant new colour options: Aqua Celadon and Ponder Blue.

The laptop blends the best visuals and audio to deliver immersive experiences: an expansive 16:10 2.8K 90 Hz OLED NanoEdge 550-nit PANTONE Validated display with a 100% DCI-P3 gamut, Dolby Atmos¹ and a Harman Kardon-certified sound system with a smart amplifier for powerful spatial sound. Visuals are further enhanced by DisplayHDR True Black 500 certification for deep blacks and TÜV Rheinland certification for eye care. 

Despite its compact size — a mere 16.9 mm thin and 1.39 kg light — the all-aluminium chassis houses the latest 12th Generation Intel Core processors with Intel Iris X^e graphics, up to 16 GB of RAM, ultrafast PCIe 4.0 SSDs, a long-lasting 75 Wh battery and the latest Intel WiFi 6E, delivering excellent performance and connectivity. It also features a full set of I/O ports, including two Thunderbolt 4 USB-C ports. 

Co-engineered with Intel, the Zenbook 14X OLED design will meet the requirements of an Intel Evo laptop through Intel’s hardware specifications and key experience targets for responsiveness, instant wake, battery life, fast charge and intelligent collaboration. 

Zenbook Pro 16X OLED (UX7602ZM) | $4,999 | Available September – October

The Zenbook Pro 16X OLED (UX7602) is a no-compromise creator laptop with a wealth of innovative design features, and a brand-new all-metal design featuring the innovative Active Aerodynamic System Ultra (AAS Ultra) for maximum performance.

Powered by 12th Generation Intel® Core™ processors and an NVIDIA® GeForce RTX™ 3060 GPU Zenbook Pro 16X OLED delivers extreme mobile performance and is full of innovations to help maximise productivity on the go. The AAS Ultra mechanism automatically raises and tilts the keyboard to ensure a comfortable typing angle, and also enhances overall system cooling by allowing more hot air to dissipate.

Other innovative and upgraded features include the all-new White-RGB intelligent lighting system that enables smart interactivity features, ASUS Dial, and an enlarged touchpad with haptic feedback for click-anywhere convenience. 

Zenbook Pro 16X also presents new ways to work with the updated ASUS Dial, an intuitive physical rotary controller that gives instant and precise fingertip control over parameters in leading creative apps. ASUS Dial also allows the user to control screen brightness and volume, or vertical scroll to smooth creative workflows. It works seamlessly with Adobe® Photoshop®, Premiere® Pro, Lightroom® Classic, After Effects® and Illustrator®. ASUS Dial is also fully customisable via ProArt Creator Hub, so its functions can be defined for use in any other apps.

Zenbook Pro 14 Duo OLED (UX8402ZE) | $3,799 | Available from September

The all-new Zenbook Pro 14 Duo OLED (UX8402), a powerful and compact dual-screen creator laptop that features a next-generation ScreenPad™ Plus with world-leading 14.5-inch 2.8K 120 Hz OLED NanoEdge touchscreen, combined with the brand-new Active Aerodynamic System Ultra (AAS Ultra) auto-tilting design that improves both cooling and ergonomics. It takes performance to max with an up to 12th Gen Intel Core i9-12900H processor, delivering extreme performance for every creative task, with fourteen cores for effortless multitasking and a Turbo Boost speed of up to 5.0 GHz.

The seriously powerful Zenbook Pro 14 Duo OLED is an Intel^® Evo^™-certified powerhouse that lets creators turn up their creative powers to the max. The flagship up to 12th Gen Intel® Core™ i7-12700H CPU and creator-grade NVIDIA® GeForce RTX™ 3050 Ti GPU are cooled for extreme performance — up to an 85-watt combined TDP — by ASUS IceCool Plus technology, aided by the innovative AAS Ultra mechanism, which vents the chassis efficiently and also tilts the next-generation ScreenPad^™ Plus secondary touchscreen to a comfortable angle for a seamless and immersive visual experience. 

For studio-class visuals, the world-leading 2.8K OLED HDR 16:10 main Dolby Vision® touchscreen has a smooth 120 Hz refresh rate, PANTONE® Validated colour accuracy, and a cinema-grade 100% DCI-P3 gamut, as well as TÜV Rheinland-certified eye care. Zenbook Pro 14 Duo OLED puts its rivals in the shade, making it the ultimate compact OLED laptop for the discerning creator. 

With anticipation of a more positive second half of 2022, Australian small business owners may benefit from reviewing their business risk profile along with their business insurance as they scale up as business confidence returns.

• In June 2022 the average number of people employed by Australian SMEs increased 28.9 per cent.
• Retail, hospitality and tourism are the best performing sectors in terms of increased employee numbers.
• SME business owners may need to review and update their business insurance policy if their circumstances change as their business recovers.

As SME business owners look forward to a positive second half of FY2022/23, they are encouraged to review their business insurance if their business circumstances change as business confidence returns.

Business risk management and business risk mitigation can provide a safety net to help protect your business in the event that things don’t go according to plan. Because try as you might, in business there will almost always be an element of risk.

“As a business changes, its risk profile may change with it,” says Jane Mason, Head of Product, Channels & Risk at business insurance comparison website BizCover. “It’s always good practice to factor in how your risk levels may have changed and review your business insurance accordingly, because business insurance is not a set-and-forget product.”

Four tips for managing business risk

Risk management helps SME business owners to identify, evaluate, and prioritise risks to their business, with the aim of minimising risks wherever possible. SME business owners can follow these four steps to manage their risk.

Risk identification

Risk identification assesses your strategic risk management plan, while also considering market assessments, industry forecasts and competitor analysis. Information gathered from these sources can be used to identify potential risks to your business.

Risk assessment

Risk assessment evaluates the types of risks that your business may be exposed to. It’s a set method aimed at assessing the likelihood of a risk occurring and its severity, should it occur. SMEs can run risk assessments for various purposes, including product labelling, community planning, and producing environmental impact statements, to name a few.

Risk monitoring and control

Risk monitoring and control helps SME owners to identify risks that could directly impact their business. Once identified, monitoring and control strategies can help avoid or minimise losses from unforeseen events by understanding their causes and planning how to manage them.

Risk transfer

Risk transfer is a process where, by payment or agreement, one party takes on the risk of loss from another party. Risk transfer is transferring risk – whether by insurance, negotiation with suppliers, or through other means such as contract provisions that provide compensation. Risk transfer can be direct or indirect and may occur before or after the loss event.

“An easy way for SME business owners to avoid being underinsured is to review their business insurance as their business risks change,” says Mason. “Simply renewing your existing policy at EOFY or at the annual renewal date may not provide the adequate cover for your business if your business circumstances have changed.”

*This information is general only and does not take into account your objectives, financial situation or needs. It should not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording.

Chartered Accountants ANZ (CA ANZ) said the Federal Government’s commitment to legislate tax deductions for small businesses is a big win for those already struggling to retain talent.

Treasurer Dr Jim Chalmers announced the Government’s intention to legislate initiatives that allow businesses with a turnover of up to $50 million the capacity to deduct 120 per cent of expenditure on the training of staff up until 30 June 2024.

Small businesses will also be able to gain a bonus 20 per cent deduction, which will support the uptake of digital technologies until 30 June 2023.

“This is a big win for small business, and I thank the Federal Government for moving swiftly to legislate these tax deductions proposals as it is something, as a profession, we have been advocating for,” said CA ANZ Chief Executive Ainslie van Onselen.

“Small businesses are grappling with the capacity to retain their staff, and this move will give them certainty to invest in their people and to give their staff some clear pathways in their professional development,” Ms van Onselen said.

“This type of investment may differ between a staff member staying with a business or deciding to pursue another opportunity.

“This is a great boost for smaller businesses in the lead up to the Jobs and Skills Summit in Canberra where I will be representing the accounting profession,” Ms van Onselen said.

“At the upcoming Jobs and Skills Summit, I’m looking forward to sharing solutions to address skilled migration, boost domestic skills and education, and increase the workforce participation of women, mature workers and underrepresented groups.”

Epson has announced its participation in the inaugural Australian Photographic Prize Awards (APP) and Conference, an initiative by Robyn Campbell and Karen Alsop, with over $35,000 worth of prizes across various competitions including the Epson Print Awards.

The Australian Photographic Prize (APP) was born in early 2022 and after months of work behind the scenes and with the support of sponsors including Epson, the APP is now open for entries.

The response has been extremely positive with hundreds of entries already received. Many of these entries have been for the Epson Print Awards, created specifically for professionals but open to amateurs and students also, including international entrants.

After gathering feedback from photographers around the world, the traditional concept of ‘print awards’ has been turned on its head by the APP in the form of the new Epson Print Awards.

In the last few years due to Covid lockdowns, there has been an increase in digital awards, whereby entrants typically enter online, receive a score (and possibly written feedback), but miss out on the excitement of having a print judged in-person by experienced judges.

APP co-founder, Robyn Campbell, said, “There is simply nothing more exciting when entering print competitions than seeing your photography being judged by the best in the industry. You hang off every word that is said. On top of this, if one of the judges decides to challenge for a higher score, it’s validation as a photographer you’ve created an impactful image.”

Also part of the APP is the APP Expo Playground, which will run Thursday 8  Saturday 10 September between 3:30 and 5:30 pm each day at City Edge in Narre Warren, Victoria. This interactive experience will offer attendees the opportunity to try their hand at printing their own work on Epson professional printers and experience a variety of hands-on shooting demonstrations at the Kayell Australia photo studio stand.

The culmination of the four-day event will be a celebration of photography, video and photographic artistry. The APP will bring together professionals, amateurs, experienced photographers and those just starting out.

Epson proudly supports Robyn, Karen and their team in this initiative and will continue to support grassroots and professional photography in Australia, as it has done for decades.

For more information on the inaugural Australian Photographic Prize Awards go to: https://australianphotographicprize.com.au

For more information on the Epson Print Awards go to: https://australianphotographicprize.com.au/epsonprintawards/

At Corporate Traveller, domestic business travel has now bounced back to near pre-COVID levels, with international travel not too far behind. The return of corporate travel, however, brings back the age-old problem of business productivity whilst travelling.

Tom oversees hundreds of Corporate Traveller employees around the world, across dozens of cities, and is required to travel regularly between multiple cities every month, with Toronto, Perth, Los Angeles, Las Vegas, London, and New York already visited.

Tom Walley, Global Managing Director at Corporate Traveller, Flight Centre Travel Group’s flagship corporate travel management provider for SMEs, shares his own tactics for maintaining business productivity whilst travelling – from planning and prioritisation skills to discipline and innovative technologies.

He says: “Being highly productive while travelling is particularly a challenge for business leaders who need to oversee and sign off on deliverables from their teams back home, join virtual meetings, approve budgets, and generally be available for their own managers or board, as well as urgent requests by their direct reports. Getting on impromptu calls, looking over important presentations and contracts are all part and parcel of the deliverables I need to meet while travelling.”

While remote-working technologies over the last two years have eased communication difficulties for people working remotely, working as productively when you are on the move remains a challenge for many business travellers, particularly team leaders who are responsible for managing employees remotely.

“The cost of slowing your usual productivity, however, is plenty of stress and late nights when you do return to HQ. Many travellers often return to a plethora of important deliverables and approvals as they play catch up on emails and deadlines. Some leaders also find that if their productively slows, so does the team’s.

“Just because you’re travelling, your personal productivity and that of your team back at HQ should not slow down if you plan carefully and have the right technologies in place. There is also a way to avoid late nights working in your hotel room.”

Research has found that half (51 per cent) of business travellers admit catching up on office work is the most stressful aspect of travelling for work purposes,[1] while a quarter feel they must work overtime upon returning to the office to make up for lost time when travelling.[2]

9 ways to maintain business productivity whilst travelling.

1. Delegate before you travel. Set realistic expectations to avoid burn-out or missed deadlines and talk openly with your team or managers about what you will and won’t be able to do while travelling. If you have a very tight business trip planned, you will not be able to complete the same workload that you would in the office. Delegate tasks to in-office team members to help maintain productivity in the workplace. If you’re travelling with a team, ensure each person has a balanced workload they can effectively manage.
2. Set up your digital communication and synchronise your files. Tom ensures he has the best fit-for-purpose applications for communicating with his team while travelling, including mobile apps such as WhatsApp and Microsoft Teams. “Before travel, I recommend executives install messaging and virtual meeting apps used by their team on all devices – and synchronise documents and emails across them. You could store large files on Cloud drives such as Google Drive or Dropbox, which provide free capped storage. Just check beforehand if the available free space is adequate for all your files, whether you’ll need to upgrade, and if they support your devices and file types.”
3. Use your most productive time of day for desk work. Tom says, if possible, dedicate one or two time slots per day – when you know you will be most productive – to desk-based work such as presentation updates, approvals, team meetings and any issues management back at HQ.Tom says: “The most productive travellers go beyond this and develop a realistic schedule of meetings, desk work, travel time and leisure activities before their trip to prevent them from taking on impromptu and unnecessary activities on their trip.”
4. Pre-book everything. Tom recommends making advance bookings as much as possible. “Not only flights and transfers, but also transport to and from meetings, meals out, any required in-room hotel meals, any essential hotel dry cleaning, and any leisure activities.”
5. Be selective with your time. Don’t let your travel schedule unravel. Try to avoid meetings running past their scheduled times. Consider using rideshare rather than car hire, so you can work during the drive. Try to have a consistent sleep routine so you won’t need to nap in transit and try to use transit waiting times and flights for work.
6. Fly early. Book an early morning flight, and get a good night’s sleep beforehand, to ensure you have a full and productive day at your destination.
7. Use your hotel or mealtimes for meetings. Tom recommends taking shortcuts and multitasking where possible. If you are staying at a four- or five-star city hotel, you could hold informal meetings for two or three in the lobby café. You could also gauge whether your stakeholders are open to meeting over lunch or dinner.

“Meeting this way can relieve your stress on a jam-packed work trip and lighten the meeting atmosphere. Clients and suppliers will understand that when you are travelling for business, you are trying to squeeze in as many meetings as possible, and they are more likely to accept a meeting over a meal, coffee or at a hotel.”

8. Get the best Wi-Fi everywhere. Choose flights and accommodation with the fastest Wi-Fi. Comfortable internet browsing requires a broadband connection of at least 25Mpbs to support up to two devices. When travelling with colleagues, ensure you have 100-200Mpbs internet to support multiple devices.[3]
   If you are travelling to a rural or regional area, take a prepaid pocket modem or dongle from most telco retailers. When travelling internationally, you will need to weigh up the capabilities of your mobile phone plan, particularly its international roaming offering. For instance, some providers offer as little as $5 per day for international roaming through your existing phone plan.[4] For longer trips, you may benefit from purchasing a local SIM card.
9. Outsource your travel admin. Knowing what you should do yourself, and what you can rely on others for, is an essential part of remaining productive while travelling for work. Tom says: “An increasing number of businesses are partnering with travel management companies in this complex travel environment. You don’t want to think about flight delays, pandemic restrictions, and check-in requirements on a work trip.”

Corporate Traveller, for instance, allows businesses to book transportation and accommodation on a single consolidated platform, backed by a team of travel advisors, the ideal bended approach for SMEs. Business travel itineraries are hosted on the CT.GO app, which features an AI assistant named Sam to notify travellers on the go and carries out simple tasks such as flight check-ins. Tom adds: “Organising your next move while on the go can be unresourceful. Good travel management companies integrate easy booking technology with expert travel advisors to ensure a smooth trip.”

Maintain business productivity whilst travelling

[1] Statista, 2022 statista.com/statistics/777004/stressful-aspects-business-air-travel-worldwide/

[2] NexTravel, 2019 cdn2.hubspot.net/hubfs/5863384/Business%20Travel%20Productivity%20Report.pdf

[3] BroadbandNow, 2020, broadbandnow.com/guides/how-much-internet-speed-do-i-need

[4] Vodafone, vodafone.com.au/plans/international-roaming

Global demand for cheaper cuts of beef is expected to increase in the year ahead as rampant inflation and slowing economic growth see consumers trade down, Rabobank says in a newly-released report.

And Australia – as one of the largest exporters of beef ‘trimmings’ (the cheaper meat cuts which remain after prime cuts are removed) – is expected to be among the best-positioned countries to benefit from this increased international demand, particularly from the US, the agribusiness bank says in its Q3 Global Beef Quarterly.

“Evidence of declining consumer confidence in the face of slowing economies and rising inflation is starting to build,” the Rabobank report says.

“In general, beef markets are resilient to changes in economic conditions. However, we do see movement within supply channels and price points that tend to favour cheaper options such as mince/ground beef and quick-service restaurants over the more expensive cuts and consumption channels.”

Growing demand for Beef

The bank forecasts the volume of trimmings consumed globally to remain strong and potentially increase in the second half of 2022 as consumers continue to trade down to lower-value beef cuts and cheaper proteins. Trimmings are typically used in the production of ground or minced beef.

“Major importers of trimmings include the US, China, Japan and South Korea,” the report says. “With these countries facing slower economic conditions in the second half of 2022, we expect consumer-purchasing decisions to favor the consumption of trimmings. The US and South Korea face high inflation pressures, whilst China and Japan continue to struggle with slower economic growth off the back of COVID.”

In the US – with its high consumption of ground beef – this should support demand for trimmings both from domestic and imported sources, Rabobank says.

Adding to the changing consumption habits due to economic conditions is the potential for the US to dramatically increase its need for imported trimmings.  The report says that high domestic beef production in the US is reducing the need for imported trimming products.  But, if US production contracts – with a slowing of the current US cow liquidation – higher import volumes will be needed.

And Australia and New Zealand will be in the ‘box seat’ to help fill that demand, says Rabobank senior animal protein analyst Angus Gidley-Baird.

Australia’s increased herd inventory will generate additional grass-fed and female slaughter numbers.

However, a caveat remains for the Australian market with our current limited processing capacity, Mr Gidley-Baird says. “Unless we can correct this, our ability to ramp up production and capitalise on any trimmings demand growth will be limited,” he said.

Global beef market outlook

Rabobank’s Q3 Beef Quarterly says the global beef market remains strong.

“Most beef retail prices (in domestic currencies) continued their upward trend in Q2 or remained steady,” the report says.

Beef prices in most markets are sitting between five and 11 per cent higher than quarter two in 2021, with the UK a notable exception recording a decline in prices as consumer demand for beef has softened due to high retail prices.

Cattle markets worldwide also remain favourable, the report says, supported by either seasonal conditions – in the case of Australia and Brazil – or strong demand, in the case of the US.

There was however some decline in cattle prices (in US dollar terms) from the previous quarter in countries including Australia, Brazil, Argentina and New Zealand.

Australian cattle prices

Cattle prices continued to decline through July, Mr Gidley-Baird said, dropping below “year-ago levels” for the first time in 2.5 years, although we have seen them lift through August.

“Prices remain historically high,” he said. “Although at the end of July the Eastern Young Cattle Indicator for weaner age cattle had dropped 23 per cent since the beginning of the year, there is no need to panic.

“Since the beginning of August, we have seen prices rise again. We feel that the change in the seasons prompts producers to hold cattle, reflected in lower sale yard numbers. With weaner cattle prices dropping the margin for backgrounders has improved which we believe has stimulated some additional demand.”

Mr Gidley-Baird said the bank expects cattle prices to contract through Q3, but the warmer spring months and pasture growth should see some stability return to the market with some possible upside in Q4.

Although Australia’s cattle slaughter numbers are slowly increasing, volumes remain historically low. Mr Gidley-Baird expects overall production for the year to be similar to 2021 at 1.9 million metric tonnes.

While there are many similarities in the actual process of buying a business or a property, leading business sales marketplace AnyBusiness.com.au says that many business buyers are confusing the investment strategies and earnings prospects of the two very different asset types. 

“The key considerations of purchasing a business versus a property are virtually polar opposites. Yet many mum and dad investors and people looking to become their own boss are mistakenly using the same approach for both,” says Mary Tamvakologos, Director of Operations, AnyBusiness. 

“Business is well-known to be a riskier place to invest money compared to property, but what isn’t so apparent is the fact that businesses have a much lower cost of entry. Median house prices across Australia are currently around $747,800¹ – and far higher in some capital cities – while many businesses can be purchased for a fraction of that amount.” 

For example, a fully managed Port Melbourne café is currently listed for sale at just $49,000, while a 40 year-old NSW-based automotive antitheft technology manufacturer is listed at $380,000. 

But perhaps the greatest misconception is that, unless you develop the next Facebook or Google, the greatest financial returns come from property. 

“To a large extent, you can’t control a property’s value: the sale or rental returns are relatively capped by market forces determining the value of similar homes within the same area,” says Mrs Tamvakologos.

“Business owners, however, have virtually unlimited control over their revenue growth and value, which are determined by factors under their stewardship such as marketing effectiveness, operational efficiency, sales conversions and customer satisfaction. And they don’t necessarily have to wait years, or decades even, to realise that growth.” 

Business broker and director of Melbourne-based Paramount Business Brokers, Fred Samoun, says that the property and small business markets (those below $1 million in value) are inextricably linked, as owners often leverage property equity to purchase and operate their business. Yet the similarities largely end there. 

“In the small business space, prospective buyers often ask questions as if it were a property purchase. But aside from the actual buying process – search online, enquire, inspect, make an offer and buy – they are totally different things. So, we have to try and get them to think about it more as an investment,” Mr Samoun says.  

“I often describe a business as a living dynamic beast – you’re not actually buying bricks and mortar or a freehold, but essentially a living entity that will grow and change in response to your inputs.” 

Unlike the largely transactional nature of real estate, business vendors also have a vested interest in its ongoing success under the new owners – making them a valuable resource to leverage post acquisition. 

“A business vendor wants to see the buyer succeed and do well. They have often built the business up over 10 or 20 years and don’t want to see their loyal customers let down,” says Mr Samoun. 

“I have never met a vendor and sold a business from someone who has not wished the business to go on and prosper.”  

Both Mrs Tamvakologos and Mr Samoun concur that their biggest piece of advice for anyone purchasing a business is to do thorough due diligence, with the help of reputable legal, accounting and financial advice. 

“As with a property or indeed any major purchase, it’s important to shop around, obtain good advice and be very clear on exactly what you are getting for your money,” says Mrs Tamvakologos. 

“Similar to perusing property listings on the major portals, business listings sites like AnyBusiness.com.au have filters that allow you to search businesses by industry, price and location. And just like buying a home, a business is somewhere you will spend a great deal of your life – so it’s important to also pay a visit in person before signing on the dotted line, to ‘feel’ it and know that it will be a place you will enjoy.  

“It shouldn’t be purchased on emotion, but it should be somewhere you – as well as your future customers and staff – can feel positive and upbeat.” 

Business vs property – core similarities 

• The need for good advice from your agent/broker plus reliable accounting, legal and financial advice. 
• Negotiations should be based on the business case, not emotion. 
• Presentation is important – know the difference between quality assets and quick makeovers.  
• Listings websites are a great place to find and compare current opportunities – e.g., AnyBusiness.com.au for business listings, Domain or realestate.com.au for property listings. 

Business vs property – key differences 

• Investment risk is higher in business, but the cost to entry is generally lower. 
• Businesses have uncapped revenue and earnings potential. 
• Proper due diligence is even more important for business. 
• People impact business value – customers and employee satisfaction, supplier relations, relationship with vendor. 

Putting off awkward client conversations is costing accountants over $100k each year. New research by Ignition uncovers the financial and human cost of avoiding or delaying awkward client situations in the professional services industry.

According to 97 per cent of accountants and bookkeepers surveyed in a new report, unrecovered out of scope work is costing Australian firms on average over $100,000 each year. What’s more, by putting off awkward client conversations, 43 per say their mental health has suffered.

The new findings in the ‘2022 State of Client Engagement’ report released by Ignition, the world’s first client engagement and commerce platform, shines a light on the financial and human cost to accounting and bookkeeping firms by avoiding or delaying awkward client conversations. Conducted by YouGov, the study interviewed 557 key decision makers in accounting and bookkeeping firms with 1-50 employees in Australia.

“As a former accountant, I’ve experienced my fair share of awkward client conversations,” said Guy Pearson, co-founder and CEO at Ignition. “For many accountants and bookkeepers, the fear of losing a client and the potential impact to the firm causes them to put off having these awkward conversations. We now know this has the opposite effect, with detrimental impacts to their firm, their people and their health and wellbeing.”

Awkward client situations a mainstay in the professional services industry

In Australia, nine in ten (93%) of accountants and bookkeepers have encountered an awkward client situation, with accounting professionals naming the following as the most awkward:

● 78% having to chase clients for late payments

● 76% advising clients that the work they have requested is out of the agreed scope

● 73% finding errors in the client proposals or engagement letters sent manually

On average, one in two accountants and bookkeepers encounter these awkward client situations at least 2-3 times in a month. The most common awkward situations encountered each month include:

● 53% not billing clients for out of scope work

● 51% chasing clients for late payments

● 51% commencing client work without a signed letter of engagement

● 50% sending clients proposals or letters of engagement with errors

Avoiding or delaying awkward client conversations is the norm

In Australia, 95 per cent of accountants and bookkeepers said they have delayed or avoided having an awkward conversation with a client, with 72 per cent saying they were trying to improve or maintain the client relationship. According to respondents, the top barriers to having an awkward conversation are:

● 41% are concerned about the clients’ negative response or reaction

● 37% lack the confidence to confront the client

● 35% lack the information needed about the agreed scope of work

● 33% lack the the skills needed to negotiate with the client

For many accountants and bookkeepers, the fear of losing a client is stronger than the desire to confront or negotiate with a client. In fact, two in five (41%) accountants and bookkeepers have gone so far as to write off all or part of an invoice to avoid having an awkward conversation with a client. When managing increases in the scope of client work, 35 per cent admit they just absorb the increased time and costs themselves.

Avoiding awkward client conversations incurs financial costs

By putting off awkward conversations, accountants and bookkeepers in Australia have traded short-term comfort for the long-term health of their firm. The top financial and business consequences include:

● 41% experienced a loss of potential income for the business

● 36% saw a negative impact to the quality of the work

● 31% faced cash flow pressures

● 23% had to shut down part of the business due to profitability issues

On average, accountants and bookkeepers estimate that out-of-scope work that hasn’t been fully billed is costing their business $8,648 each month. That equates to more than $100,000 each year. In addition:

● 95% experience late payments

● 40% of client invoices are paid after the due date

● On average, client invoices are 31 days overdue

“Overdue client invoices are endemic to accounting firms,” said Pearson. “What the research tells us is that accountants are unwilling to confront clients about bills owing, so they absorb the costs themselves. “In a high inflationary environment, where cash flow is king and a vital ingredient for business survival, firms can no longer afford to put off these client conversations or leave their outstanding payments to chance.”

Avoiding awkward client conversations is taking toll on mental health

Of accountants and bookkeepers that avoided or delayed awkward client conversations, two in five (43%) said it had a negative impact on their mental health and others in the practice. They also report:

● 42% report staff are overworked

● 37% report staff have taken sick leave or time away from work

● 35% report low morale among staff members, as well as resentment (35%)

● 33% report staff have quit and they have difficulty in retaining staff

To learn more, you can find the full report here.