Leading financing company OptiPay has revealed the top accounting mistakes being made by Australian small businesses.

CEO Angus Sedgwick says many business owners view accounting as a chore, yet it is one of the most critical aspects of success.

“We often see owners putting off their accounting responsibilities which leads to varying degrees of negative consequences for their business,” says Mr Sedgwick.

“You only have to look at the fallout from delayed COVID tax payments and the increasing rate of insolvencies to realise the impact this has,” he says.

“The best way to avoid costly accounting mistakes is to hire a professional bookkeeper and accountant. It may seem costly but you’re more likely to save money in the long run than by trying to do it yourself.”

Here are the Top Accounting Mistakes to avoid –

1. Not Tracking Business Transactions

Make sure you keep a record of all your transactions. Have digitised copies and paper backups for future reference and to maintain the health of your business. Don’t forget records of employee compensation, utility expenses and cash receipts. If you’re audited by the tax office you will be required to show records of all your business expenses, even the small ones. Consider implementing financial tools that can help you automatically monitor your business transactions and create a backup in case of an emergency.

2.            Poor Communication

Ensure that you and your bookkeeper clearly understand and communicate regarding your financial records, reports and any other vital statements relating to your business. They need to know what’s going on – be that small or large transactions, or new finance arrangements or structures. Make sure they have a good picture of your company’s overall performance at any particular time. 

3.            Being Behind on Paperwork

Don’t put off updating your books to the last minute. Falling behind on paperwork is one of the most common mistakes we see small business owners make and if you fall behind on billing customers you may find yourself with a debt that never gets paid. There’s also the risk with other payments being late that you may be liable for fines and penalties from the ATO. Try to prevent this from happening by being organised.

4.            Not Providing a Clear Budget for Every Project

For every new project you start with your business make sure you have a clear budget set out from the beginning. You don’t want a significant portion of your cash flow utilised unless you’re getting a good return on your investment. Look back on past projects to determine an accurate budget based on what you’ve spent before.

5.            Mixing Personal and Business Accounts

Mixing business and personal accounts makes it harder to track business expenses and you might miss an expense that could have been a tax deduction. Having a separate business account also gives lenders an understanding of your finances if you’re applying for a loan or an alternate funding options like invoice financing. You want to make sure you maximise your credit score to obtain the best financial solution for your business.

6.            Being Unwilling to Delegate

Sometimes small business owners are unwilling to outsource essential tasks to save money. This is understandable however eventually you will need to outsource sufficiently in order to scale your business to expand. Focus on what you’re good at doing and pay specialists to handle necessities such as your accounting. Having expert advice will help you to maximise your income and any financial or strategic opportunities whilst also minimising your taxes.

As EOFY approaches, Hnry is sharing the top 10 tax deductions that independent earners didn’t know they could claim, as its research reveals the average sole trader misses out on over $5,500 in unclaimed expenses every year.

Only 64% of sole traders – from contract tradies and nurses, to freelance creatives and wellness professionals – claim all of the business expenses they’re entitled to, with Hnry data revealing 33% are unsure of what they can/can’t claim, and 35% not being bothered with the hassle of financial admin.

To help the nation’s 1.5m sole traders claim the expenses they’re entitled to, and keep their pennies in their pocket, please find below Hnry’s top 10 tax deductions self-employed Aussies didn’t know they could claim – from the broad to the weird and wacky:

1. Digital Marketing Tools: Subscriptions for SEO, email marketing, and analytics tools are deductible.
2. Virtual Assistants: Expenses related to hiring virtual assistants to help with administrative tasks, customer service, or other business functions.
3. Green Business Initiatives: Deductible costs include investments in recycling programs, eco-friendly supplies, etc.
4. Promotional Samples: Claim the cost of providing product samples to potential clients/customers as a marketing expense.
5. Ergonomic Office Items: Claim ergonomic furniture/equipment costs for a productive workspace.
6. Niche Subscriptions: Deduct membership fees for industry-specific/professional associations.
7. Music: Claim music subscriptions/equipment costs for business environments like cafes or retail stores.
8. Professional Photography: Claim photography expenses for professional headshots and promotional materials.
9. Sun Protection: Deduct sun protection items’ (hats, sunglasses, sunscreen) costs for outdoor workers like tradespeople, farmers, etc.
10. Income Protection Insurance: Premiums may be tax deductible, offering financial security if you’re unable to work due to illness or injury.

Despite efforts to encourage office returns, a recent Randstad survey reveals that talent still craves flexibility. For nearly 40% of respondents, working from home is a non-negotiable priority, with 37% willing to consider leaving if office time increases. As a team that has championed a flexible work culture long before the pandemic, I would like to share some of our learnings. 

Look at flexibility differently

We have swapped rigid office regulations for “gravity days”—designated in-person team workdays. This shift not only enhances operational effectiveness but also fosters a culture of innovation and creativity. Our commitment to employee well-being and autonomy propels this collaborative strategy, allowing our team to select their work settings for maximum productivity.

Build a clear framework

Having a clear framework is crucial to a successful hybrid work model. While “gravity days” are great for collaboration and social interaction, you need a well-thought-out policy that informs employees about when and how they can use these options.

Nurture open communication

While the hybrid work model grants flexibility for managing various commitments, it can sometimes breed feelings of isolation and hinder collaboration. Prioritising regular check-ins and maintaining open channels for feedback and communication will help foster a sense of belonging and stronger team bonds. Your team will value your dedicated time and effort in understanding their needs.

Maximise productivity through technology integration

Our “gravity days” seamlessly merge remote and in-office work, with technology playing a big role. Investing in the right tools means smooth, secure collaboration. Talk to your team about their home setups to ensure they are equipped properly – good monitors, webcams, headsets, keyboards, and mice. That way, remote work is just as effective as being in the office.

Written by Damian Lepore, Managing Director of Logitech Australia and New Zealand

What started as a one-off business collaboration between a couple of Warrnambool businesses soon became a mission to empower the region’s wider business community. 

Marcus and Kymberly McDiven, the power couple behind Battery World Warrnambool, are doing their bit to prove that the community is ‘stronger together’ by kickstarting a new initiative alongside their fellow business owners. 

The couple recently teamed up with Adzweld Fabrications to produce an epic Ute set-up featuring both Battery World products and an Azweld custom-built and installed canopy.  

“Working with Adzweld came about in the spur of the moment when they needed our help with LED lighting fitting and our battery systems,” Kymberly McDiven said. 

“The partnership with Adzweld went so well that we thought this should be something we continue to do moving forward.  

“We’re lucky enough to be surrounded by such a supportive community so why not give back where we can.” 

Since setting up shop in December 2021, the team at Battery World Warrnambool have seen immense growth in their customer base and hopes to provide a platform for other local businesses to thrive in their respective industries too. 

“We took over the store just over two years ago and quickly learned there’s so much more to running a small business than just selling products. We aren’t interested in making a quick buck, we’re truly here to service the community and power up their passions,” she added. 

According to Adzweld Warrnambool co-owner Adam Wright the collaboration was a great way to service his clients while learning more about a similar industry. 

“I’ve known Marcus and Kymberly for a long time, so working together was both mutually beneficial and exciting,” he added. 

“It’s not too often you get to learn from other businesses, so it was an eye-opening experience and one that I hope will happen again. 

“Warrnambool is such a tight-knit community, so when businesses come together, we have the opportunity to make something special happen and I’m so proud of what we were able to achieve.” 

For more information on Battery World, visit https://www.batteryworld.com.au/ or head into the Battery World Warrnambool store today.  
 

 ASUS, in collaboration with Microsoft and Qualcomm^®, has announced its first foray into the next generation of AI-powered computing with the sleek Vivobook S 15, available for pre-order today at ASUS E-shop and leading retailers.

Powered by the Snapdragon^® X Elite platform, the sleek device offers Windows AI features and a collection of exclusive ASUS AI apps that showcase the unique benefits of AI for Content Creation, Productivity and Learning. Its 3K 120 Hz ultra-large OLED display and immersive audio system is encased in a premium, all-metal 1.47cm thin, 1.42kg light body. It features a mood-setting single zone RGB keyboard with a dedicated Copilot key for instant AI assistance, revolutionising work and play.

Driven by Microsoft’s software excellence, the power of the Qualcomm Oryon™ CPU, and coupled with ASUS’ Lumina OLED displays, design and innovation prowess, the latest Vivobook launch signals the dawn of a new era in computing. 

Speaking at the launch, Bradley Howe, Head of Consumer, ASUS Australia, said “AI has been building momentum as a technology, particularly with the use of personal assistance, and that is why we are ushering in a new era of AI computing where AI takes on a more integrated role in our lives and in the PC space, helping to make what Australians do on their PCs, easier, smarter and faster.  We’ve designed the Vivobook S 15 as an intelligent PC companion that makes creating, productivity and learning tasks more convenient and enjoyable for Australians.” 

With 53% of Australian professionals actively using or experimenting with generative AI at work, particularly by Millennials (63% use generative AI) and Gen Z (57%) — a substantial increase from the 36% of Australians reported to use the technology in 2023. ASUS believes the key use cases Australians will benefit when using a Copilot+ PC powered by the graphics capabilities of ASUS Lumina OLED technology are:

• AI for Content Creation: With Copilot at the touch of a button, the Vivobook S 15 makes AI-powered content creation near-instant and more convenient. 
• AI for Productivity: The Vivobook S 15 streamlines work by automating repetitive processes and removing the need for manual tasks. From managing emails to organising files, AI ensures efficiency without compromising accuracy.
• AI for Learning: Whether you’re a student, researcher, or lifelong learner, this laptop allows you to have access to quick and easy learning tools at your fingertips, ensuring learning is digestible and accessible no matter where the individual is.

Introducing ASUS Vivobook S 15, Your First Copilot+ PC

The ASUS Vivobook S 15 marks a significant leap forward in AI-powered computing, reaffirming ASUS’ commitment to innovation, excellence and setting a benchmark for ASUS’ upcoming range of Copilot+ PC. 

The Vivobook’s 3K 120 Hz ultra-large OLED display and immersive audio system is encased in a premium, all-metal 1.47cm thin, 1.42kg light body, allowing the benefits of AI to be more portable than ever. It features a mood-setting single zone RGB keyboard with a dedicated Copilot key for instant AI assistance, revolutionising work and play.

TOP-Notch Performance

Powered by Windows 11, the ASUS Vivobook S 15 combines a sleek, modern aesthetic with unmatched performance. The Snapdragon^® X Elite Processor, a dedicated AI chip, delivers peak performance in multi core tasks, providing a more productive laptop experience. 

ST Liew, Vice President of Qualcomm CDMA Technologies Asia-Pacific Pte. Ltd. and President of Qualcomm Taiwan & SEA, Australia, New Zealand, echoed the sentiment: “The PC is reborn with Snapdragon X Elite, and we are excited to collaborate with ASUS to put incredible innovation like the ASUS Vivobook S 15 in the hands of users, making a formidable range of AI devices that meet the needs of consumers now and in the future.”

The Qualcomm® Hexagon™ NPU delivers ultimate productivity with 45 TOPS AI processing speeds. This ensures peak AI performance that is able to run directly on-the-device, rather than through the Cloud. This calibre of performance allows more responsive and smooth multitasking, guaranteeing a seamless experience with all AI tools and tasks without compromising battery life.  

Dan Johnson, Windows & Microsoft 365 Category Lead for Microsoft ANZ, highlights the benefits of Edge AI: “We believe the richest AI experiences will only be possible when the cloud and device work together in concert. Now with the introduction of the Copilot+ PCs, I’m excited that together with our partners, such as ASUS, we can set the frame for the next decade of Windows innovation.”

The Vivobook S 15 is fast, offering instant boot-ups, capacious up to 1TB PCIe 4.0 SSD, and an impressive 32GB of lighting-fast 8448 MHz LPDDR5X memory, which ensures the user is able to navigate daily tasks with speed and efficiency. 

The Vivobook S 15 uses ASUS IceCool thermal technology – two 97 ice blades, two heat pipes and two exhaust vents – which allows for efficient heat transfer and exhaust to ensure the user can tackle demanding tasks without impacts on performance. 

In line with Microsoft’s qualifications for a Copilot+ PC, the Vivobook S 15 also has a CoPilot key on the keyboard to ensure this AI tool is easy and quick to access, helping to make Content Creation, Productivity and Learning easier than ever.

Exclusive ASUS AI Software

To ensure Australians feel empowered by AI in all aspects of their daily lives, ASUS is launching a range of exclusive software, reflecting the company’s belief in how AI can revolutionise Australians’ daily lives:

• ASUS StoryCube: An AI-powered digital asset-management tool, which can automatically organise photos and videos. 
• ASUS AI Noise Cancellation:  This leverages a deep-learning database to reduce background noise in meetings and calls, for clear audio.
• ASUS Adaptive Dimming: A technology that recognises when a user looks away and dims the screen, which helps to maintain power consumption. 
• ASUS Adaptive Lock: With this feature, the laptop will be automatically locked when the user moves away and unlocked when they return, helping to ensure greater security.

Superior Audiovisuals 

ASUS Lumina OLED displays boast superior visual capabilities to ensure Australians can experience the benefits of AI better. With Lumina OLED, users can enjoy:

• More Accuracy: Due to being Pantone^® Validated and factory-calibrated to Delta E < 1consumers can experience a wider array of vivid, true-to-life colours. With an ultra-wide 89% screen-to-body ratio, cinema-grade 100% DCI-P3 colour gamut, and VESA DisplayHDR™ True Black 600 certification. This can benefit individuals using AI to create visual and video content to drive more precision and accuracy on their content. 
• More Adaptive: ASUS Lumina OLED provides customisable visuals, power-saving solutions and sharpened playback. ASUS Tru2Life technology is a video enhancement feature that analyses each pixel of the video being displayed, adjusting brightness, contrast and sharpness to ensure the best, most vibrant viewing experience for consumers. 
• More Reliable: With people spending hours working, playing and creating in front of laptops, ASUS has ensured its OLED line-up has OLED Care and TÜV Rheinland 70% less blue-light certification, which means the devices can help to reduce strain on eyes caused by prolonged exposure to blue light

In addition to the device’s visual capabilities, its audio system is Harman Kardon-certified with immersive, multi-dimensional Dolby Atmos sound, elevating the overall audiovisual experience when working or playing.

Incredible Design and Connectivity

The ASUS Vivobook S 15 has been designed with portability and connectivity in mind, making it a great companion for users on the move. It is 14.7 mm slim in design and lightweight all-metal construction weighing 1.42 kg Equipped with 70 Wh battery providing over 18 hours of work or play, users can stay connected throughout the day, with support for fast charging and ASUS USB-C® Easy Charge for convenient charging.

The premium design features a single-zone RGB backlit keyboard for personalised aesthetics, while the dedicated Copilot key grants instant access to Windows AI-powered tools conveniently.

Additionally, the large and smart gesture touchpad offers easy navigation, enabling users to control various tasks from optimising screen brightness to adjusting audio.
Combined with its comprehensive array of I/O ports, including two USB4® ports, the Vivobook S 15 ensures blazing-fast connectivity and enhanced productivity wherever you go. With WiFi 7 technology and Qualcomm FastConnect 7800 technology, the device enables lightning-fast wireless connections – up to 4.8x³ faster than the previous generation.

Ultimate ASUS Durability and Security

ASUS Vivobook S 15 is tested to the rigorous MIL-STD 810H military standard, encompassing high and low temperature, shock, vibration and altitude tests to help ensure reliability and durability. 

The Vivobook S 15 also has security and privacy in mind. With the IR camera, the user is able to unlock the device in an instant. Privacy can be safeguarded with a physical webcam cover and an integrated privacy shield that slides over the webcam for instant protection against prying eyes.

Pricing & Availability

Pre-orders on the Vivobook S 15 S5507 Model are available from 3pm on May 22 from the below participating retailers across Australia and New Zealand AEST. The pre-order campaign will run from 3pm on 22^nd May to 9am on 18^th June. 

From June 18^th the Vivobook S 15 will be available in-store and online from participating retailers and the ASUS E-shop.   

Specifications 

Epson has furthered its commitment to energy-saving, Heat-Free line inkjet technology through the addition of the AM-C400 and AM-C550 multi-function printers, which deliver improved and enhanced A4 solutions.  

The AM-C400 and AM-C550 offer all the energy saving and productivity advantages offered by Epson’s existing A3 AM-C4000, AM-C5000 and AM-C6000 A3 line inkjet printers but in a more compact and space saving A4 format. 

New Epson AM-C550 printer 

By sharing many of the features and functions of their larger A3 siblings, including an intuitive 10.1” touchscreen, the AM-C400 and AM-C550 come with everything businesses need for serious and reliable printing, including high monthly duty cycle, very high image quality thanks to DURABrite® Pro pigment ink and a full suite of advanced security features.  

In short, the two new A4 models complement the existing range and are perfect for those who want a blended solution of A4 and A3 devices in their workplace. 

In real terms this means the AM-C400 and AM-C550 represent an easily maintained, profitable print solution that helps support sustainability agendas with their extremely low power consumption. 

The AM-C400 and the AM-C550 also boast high print (40 ppm/55 ppm) and scan speeds (50 ipm/100 ipm simplex/duplex), high paper capacities and high yield ink cartridges of up to 31,500 pages (mono), which help both printers deliver significant productivity advantages for businesses of all sizes. They also have two of the smallest footprints in their class.   

Fast print speeds, high reliability and a compact form factor are coupled with the reduced energy consumption and waste reductions guaranteed by Epson Heat-Free business inkjet solutions which further support sustainability goals and offer a very compelling alternative to traditional, messy and energy-hungry laser printers. 

There are more advantages to these new printers over laser printers too as with all Epson business inkjet devices, the new AM-C400 and AM-C550 also have far fewer moving and consumable parts to replace over their lifetime compared to laser alternatives. This means service and maintenance needs are substantially reduced resulting in more printer uptime, improved productivity and higher user satisfaction. 

The addition of the new A4 WorkForce Enterprise AM-Series models now means Epson’s business inkjet line-up covers everything from small workgroup units to high-speed production machines. No matter the industry, function or print demand, there is an Epson product that suits every office and business requirement. 

With a full range of support from managed print services and print management software packages through to remote service solutions, these new A4 WorkForce Enterprise AM-Series products truly help enable a low maintenance, high quality, reliable, sustainable print system. 
 

Main features: 

• PrecisionCore Heat-Free Technology – outstanding quality, extremely low power 
• Reliable performance – recommended monthly print volume of 30,000 pages 
• DURABrite® Pro water-resistant pigment ink delivers vivid colour and crisp black text 

• Easy loading, compact high-capacity ink cartridges 
• 2,000 sheet paper cassette capacity 
• Reduced downtime – fewer consumables to replace and easy internal access for quick and efficient routine maintenance 
• 40 or 55 ppm print  
• 50 / 100 ipm scan capability and optional OCR feature 
• Compact form factor 
• Optional internal finishing option 

The three-month countdown for the government’s latest Industrial Relations – IR Reforms has begun. On 26 August, the Closing Loopholes No. 2 Act will come into force, as part of the broader IR overhaul in Australia aiming to fill existing gaps in employment laws, providing stronger protections for workers while imposing stricter compliance requirements on businesses.  

Yet many small businesses are unprepared for the sweeping changes that will take effect– Rippling’s research shows that over half of Australian small businesses (53%) believe that the IR reforms will add more complexity and stress to payroll processes. It is therefore imperative that SMEs take action sooner rather than later, or risk facing a compliance disaster down the line. 

Understanding the Closing Loopholes No. 2 Act 

The first step to action is to understand the new laws, of which there are three key aspects. The first is the ‘right to disconnect’, a provision granting employees the right to ignore work-related communications outside of their regular working hours, promoting better work-life balance. Then, there is also the introduction of a framework to protect ’employee-like’ workers in the gig economy, ensuring they receive fair treatment and adequate compensation. Finally, the existing definition in the Fair Work Act will be replaced, potentially affecting the classification and entitlements of many workers. 

Impact on small businesses 

These changes will significantly impact small businesses, which often operate with limited resources and with less specialised compliance expertise than larger enterprises. In fact, our research shows the most common pain points for SMEs are keeping up with legislation and compliance obligations (40%), the length of time it takes to process (34%), the cost per employee (24%) and complexity (23%). It costs time (and by extension, money) to keep having to address incremental changes, and the upcoming IR reforms are bound to put further financial and productivity strains on SMEs. 

Concerns around the upcoming IR reforms in the SME space are well-founded considering the hefty fines we have seen imposed on major organisations for non-compliance under the first Closing Loopholes Act. Such penalties can cause significant financial and reputational damage, which can be devastating for small businesses that typically have fewer resources to absorb these impacts. 

How to remain compliant  

Given the potential repercussions of non-compliance, which include severe financial and legal penalties, it is crucial for small businesses to start planning ahead. Here are six key steps they can take now: 

• Understand the new laws: Small business leaders must educate themselves on what is required of them from the reforms. The right to disconnect, for example, requires clear policies outlining when employees are not expected to respond to work communications. Similarly, businesses must review the new definition of casual employment to ensure correct worker classification. Tap into the expertise of your ecosystem with partners – whether HR consultants, financial or legal experts – to provide help in speeding up this learning process. 

• Audit current processes: Conduct a detailed audit of existing HR and payroll processes. Identify any gaps or areas that do not comply with the new legislation. Develop a clear plan to address these issues before the reforms take effect. 

• Invest in automation: Almost half (48%) of Australian small businesses still rely on manually inputting employee data, opening the door to human error. Automating payroll processes can significantly reduce this risk and alleviate the burden of staying current with new regulations, and centralising employee data in one system further reduces the need for redundant entries across multiple platforms. 

• Be agile: More IR reforms are likely to come down the pipeline – SMEs must ensure any investments in automation and technology are built with agility in mind, making it easier to adapt to future changes. 

• Review and update contracts and policies: Ensure that employment contracts and company policies are updated to reflect the new laws, incorporating the right to disconnect and adjusting terms for casual employees and gig workers accordingly. 

• Seek expert advice: Consulting with legal and HR experts can provide valuable guidance, helping to identify potential pitfalls and offer strategies to mitigate the risk of non-compliance. 

With the new legislation rapidly approaching, small businesses must act now to understand and implement the necessary changes. By taking proactive steps to audit current processes, invest in automation, educate teams, and seek expert advice, SMEs can navigate these reforms more smoothly and avoid the consequences of non-compliance. 

Contributed By Matt Loop, VP and Head of Asia, Rippling 

G Gunawan shares his 7 Vlogging Tips for Beginners to gain the essential skills and knowledge needed to kickstart your vlogging journey successfully. In an age where digital content creation is thriving, there is no better time for beginners to perfect the art of vlogging and carve their niche in the online landscape. 

1.       Know the subject matter that you want to talk about. The more you’re passionate about the subject, the easier the delivery will be, and your enthusiasm will come across better. 

2.       Script and plan. This is to ensure your delivery is on point and not off track. If you’re generally already good with talking, bullet points would work best for you. However, if you feel writing the full script really help you vlog, then go with it. Know yourself and prepare accordingly.  

3.       Break up your talking points into smaller sections. You don’t have to vlog the whole essay in one take. In most cases, it is a lot easier to break down the delivery into smaller chunks. And sometimes, the change of scene, when vlogging outdoors, gets the audience to stay engaged. 

4.       You will make mistakes and it’s okay. We ALL make vlogging mistakes with the ‘uh’ and ‘umms’, or even losing the train of thought. It is completely normal. Just pick it up from where you left off. 

5.       People do not care. Vlogging in public could be really daunting at first. But remember, people do not look down on you for vlogging. People do not care. Even if they care, they are actually more interested rather than the opposite. 

6.       Do not overthink it. The more you overthink stuff, the more resistance you will build. Just wing it, accept that it’s not gonna be perfect. One done is better than hundreds of going to’s. 

7.       Practice, practice, practice and have fun. Vlogging, especially in public space is like an exercise. It’s not easy to start. But the more you do it, the easier it will get. 

Nikon Creator, G Gunawan is a Sydney based photographer and videography with a passion to express himself and the story, and to make positive changes to our world.  

FREE Entries Open to Two Major Small Business Champion Awards Programmes

Entries have officially opened to two prestigious and comprehensive Small Business Champion Awards programmes, dedicated to honouring the best of Australia’s tradies and female-led small businesses.

FREE online entry to the 2024 Australian Trades Small Business Champion Awards is now available until 5.00pm (AEST) on Thursday 4 July 2024.

FREE online entry to the 2024 Australian Women’s Small Business Champion Awards will remain open until 5.00pm (AEST) on Wednesday 26 June 2024.

The 2024 Australian TRADES Small Business Champion Awards:

Especially relevant this year as the nation grapples with a housing shortage and urgent need for more skilled tradespeople, the second annual Australian Trades Small Business Champion Awards pertinently pays tribute to the vital role of small businesses in the trade sector as the backbone of the nation’s construction industry, and a significant contributor to Australia’s overall social and economic prosperity.

The nation’s only recognition awards programme dedicated to spotlighting trades-based small business operators from all corners of every Australian state and territory, the Awards further recognise trades-based small business owners’ invaluable contributions to their local communities and to their fields of specialty – including their encouragement of future generations of Aussie tradies.

From builders and bricklayers to arborists, architects, engineers, commercial cleaners, plumbers, painters, locksmiths, electricians, gardeners, landscapers and surveyors, the Australian Trades Small Business Champion Awards is deliberately diverse in terms of the breadth of represented trades.

Featuring more than 50 award categories and five individual categories – Apprentice Champion, Champion Tradie, Small Business Trades Entrepreneur (aged over 30), Young Small Business Trades Entrepreneur (aged 30 and younger) and Trades Champion Leader – this year marks the second consecutive year of the Trades Awards, created to celebrate and inspire the nation’s most innovative, dynamic, and top-performing tradies.

Recent data indicates that almost two million tradies are actively employed in Australia, but according to various industry bodies, hundreds of thousands more are needed to keep pace with Australia’s housing demand. Furthermore, figures released by the Australian Bureau of Statistics reveal that the vast majority of Australian small business owners are tradies.

“Small business owners in trade industries are crucially important to Australia. Their contributions to this country are simply astronomical and so, it’s in the interests of all Australians to recognise the champions of this sector and in doing so, consider how we can better support them so they can continue to support us,” says Steve Loe, Awards Founder and Managing Director of Precedent Productions – which coordinates the Australian Trades Small Business Champion Awards and the Australian Women’s Small Business Champion Awards.

“The Australian trades sector is arguably amongst the most complex, but it’s also among the most innovative, resilient and certainly hardworking.

“A career in trades typically means early starts, long days, and exhausting labour; and for owners, this is in addition to all the pressures that come with running a small business. It can be a taxing career and those who perform to a high standard ought to be acknowledged in a big way – which is what these Awards are all about,” adds Mr Loe.

The 2024 Australian WOMEN’S Small Business Champion Awards:

This year marks the third consecutive year of the Awards, which spotlight the achievements of some of the nation’s most inspiring women in small business.

From dentists and disability support providers to accountants, makeup artists, café owners, cosmetic specialists, farmers, fashion designers and financial planners, the Australian Women’s Small Business Champion Awards features more than 65 award categories and four individual categories – Young Small Business Champion Woman Entrepreneur (aged 30 and younger), Small Business Champion Woman Entrepreneur (aged over 30), Australian Small Business Champion Influential Woman and Australian Small Business Champion Icon.

According to Australian Government data, female small business owners currently represent more than one-third of all small businesses; and recently released research from Commonwealth Bank suggests more and more Australian women are choosing to start a small business or side hustle, with women opening up 43.2 per cent of all new business transaction accounts during the 2023 financial year.

Steve Loe says: “We’re in the midst of an age of female entrepreneurial empowerment.

“Despite the current high cost of living and myriad challenges associated with small business ownership at present, Australian women are simply powering through and showing incredible resilience and drive across all industries of the small business sector.

“Precedent Productions has been running the Australian Small Business Champion Awards since 1999 but especially during the past few years, we’ve noticed a steep rise in the success of female-owned small businesses in particular; so much so that we deemed it appropriate to have a standalone awards programme that showcases and honours the truly impressive work of women in small business.

“Perhaps there are elements in the double-X chromosome that gives female leaders a special ‘oomph’, or perhaps it’s lived experience, but whatever the reason, small businesswomen today are shining and deserve to be recognised for overcoming still-existing distinct trials to reach such inspirational success,” adds Mr Loe.

An independent national survey of small business owners, recently commissioned by Precedent Productions found that:

• Almost half (47 per cent) feel that it is still harder for women to succeed for reasons including the gender financing gap, the ongoing existence of stereotypes in the workforce and balancing home and work life.

Spanning hundreds of small business owners from every Australian state, the survey also found that:

• More than half (63 per cent) of small business owners work more than five days a week.

• Challenges associated with staff hire, productivity and high costs are especially impacting trades-based small business owners; with those in the construction industry in particular challenged by matters of industry uncertainty. “You never know what’s around the corner in the construction industry,” one respondent said.

• 45 per cent of Australian small business owners feel that it is now harder to meet customer-related outputs or delivery deadlines than pre-Covid.

• 71 per cent feel that they are subject to too much regulation, pay too much tax and are hindered by government more than they’re supported.

·         61 per cent feel they do not get enough government support to take adequate action on matters such as climate change, cyber security, innovation, and local manufacturing. However, the vast majority (74 per cent) would rather purchase supplies from an Australian manufacturer or supplier, even if it meant paying more.

·         Almost a quarter (22 per cent) have implemented Artificial Intelligence (AI) into their operations, with a further 39 per cent seriously considering doing so in the near future.

“From regional and rural areas to the suburbs and capital cities, trades-based and female small business operators from all parts of the country are encouraged to enter the Awards – free of charge – as we strive to celebrate the people behind the small businesses that contribute so significantly to our national economy and help to shape their local communities in so many meaningful ways,” adds Mr Loe.

Shortlisted finalists of each programme will be announced from July.

Winners of the 2024 Australian Trades Small Business Champion Awards will be revealed at a National Presentation Evening Gala event on Friday 23 August 2024; the evening before winners of the women’s programme will be celebrated (on Saturday 24 August 2024).

Known as the ‘Logies of the small business’, both red-carpet gala events will be held at Sydney’s The Star, with more event-specific information to soon be announced.

For more information and to submit an entry form, visit: championawards.com.au/trades / championawards.com.au/womens.