Australia’s skills shortage and high manufacturing costs mean importing products and parts from overseas can make good business sense. This article is your risk management update on sourcing from foreign manufacturers. Risks of imported...
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Bush fire risks persist year-round. Variables like vegetation, humidity, wind, rain, lightning, and temperature inversions influence hotspots. According to the Bureau of Meteorology (BoM), Australia has five fire danger seasons: Winter and...
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Australian SMEs must adopt Ai for competitive advantage, especially in cybersecurity. Workday’s Global Study of AI in business, study shows 90% of surveyed businesses use AI for operations, though its rapid evolution poses uncertainties and...
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Generative AI, like OpenAI’s ChatGPT, revolutionised business in under a year. This machine learning tech creates diverse content from text to image. Examples include Google Bard, Snapchat’s my AI, DALL-E2, Midjourney, and Microsoft’s VALL-E...
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The cost of living has been a struggle for Australian businesses and households. Adding to this is the expected rise in home insurance, typically by about 10%. We’ll share our tips on reducing the hit to your hip pocket, while still ensuring...
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Resilience skills help businesses in crises, such as during the pandemic, but also outside of those times. Resilience is being able to evaluate, identify, and address challenges as swiftly as possible to achieve a good outcome. It’s good to know...
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The Domestic Insurance (Home, Car and Landlord) market in Australia has been faced with numerous natural disasters over the last few years which has significantly impacted its profitability. This has had a ‘knock on effect’, with...
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With spring around the corner, it’s a great opportunity to start spring cleaning for your business. Evaluating your operations at the start of the second quarter allows you to tweak and transform in ways that may pay off for the rest of the...
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It’s important to keep the environmental risks of your building projects to a minimum. Here’s a checklist to help you manage these factors. Risk #1: Flooding Understand historical flood patterns and future flood maps. Keep an eye on expanding...
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As a business owner, you know how important it is to maintain the safety of your work fleet and have clear policies for staff using them. The cost of fleet accidents Research has shown that the social and economic costs of all road crashes in...
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Small-to-medium-sized businesses make up 93% of Australian businesses that export, with the typical business having turnover of almost $5 million and operating in just one market. However, a report found that almost half of all businesses...
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Operating a business that uses transport and logistics creates unique risks and issues to manage. Shutdowns and supply chain disruptions, such as we saw during the pandemic, highlight the crucial role the transport and logistics sector plays in...
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