Could the end be nigh for the hourly billing model favoured by many professional services firms? As technology turns the dial towards value-based pricing, we examine the advantages in measuring outcomes rather than hours.
Hospitality business founders Bill Drakopoulos and Dave Henderson shared their experiences over a meal for NAB’s Business Founders Talk series. Hear what they had to say about the passion and drive required to build up their respective businesses.
Leave it to chance and you’re putting the future of your legal practice at risk. When it comes to succession planning, this firm of patent attorneys provides a lesson in doing things the right way.
The Great Rethink has employees reconsidering what they want from an employer – and whether a job fits with their lifestyle and values. Here’s how professional services firms can factor this into the value proposition they offer staff.
Watch as our experts discuss the elements of a successful merger or acquisition, from building a solid strategy to understanding the importance of cultural fit to balancing pricing considerations.
‘Build it and they will come’ – that’s the belief that drove Brisbane businessman Justin Montesalvo to grow his bright idea from blueprint to thriving high-end camper trailer maker.
Deterioration in conditions in most states, with current momentum negative. Household sector weakness evident, investment still ok (outside mining), while agri. facing easing prices and needs rain. Housing sector downturn, population growth centred on the eastern states, agricultural prices easing.
Growth capital is more important than ever. But while we’re seeing new and innovative forms of funding stepping up to meet this need, it’s clear small and medium-sized businesses must step up too.
The Propel program helps Australian technology start-ups take on the world. Apply now to spend 10 days in the US building networks, meeting investors and absorbing the ways of Silicon Valley.
Wherever you look, the future is about technology – the way we invest, care for our health and even how we grow our food. We take a look at where technology might take us in 2019.
Small and Medium Enterprise (SME) business conditions edged lower in Q3 2018 to +11, while SME business confidence fell to +2pts. While conditions have eased over the past two quarters, they remain well above average, though confidence has declined to below average levels.
Keen to expand your business’s global footprint? If so, there are compelling reasons to consider heading to the UK, especially if you own a tech start-up, with an exciting new competition just launched.
The business conditions index rose by 2pts to +15 index points in August, recovering some of the ground lost in recent months. Business confidence fell 3pts to +4 index points and is now below average.
The nation’s thoughts are with drought-afflicted farmers. As distressing as their current circumstances are, the encouraging news is that underlying economic conditions remain positive and will help them bounce back once the drought breaks.
Consumer anxiety up steeply in Q2. Overall spending tightens as concerns about the economy and our household financial positions grow. Spending on utilities a key expense, and growing.
The global boom in SMEs in a world hungry for quality Australian goods and services is creating opportunities for local businesses prepared to look beyond their own backyard.
The business conditions index fell by 2pts to +12 index points in July, continuing its run of declines since April. Business confidence ticked up 1pt to +7 index points, an around average level.
The NAB Rural Commodities Index gained 1.3% month on month in July, following a 1.4% gain in June. On a year on year basis, the index was down 0.3% in July.
Overall sentiment in commercial property markets (measured by the NAB Commercial Property Index) moderated in Q2. The Index fell 4 points to +17 but remains well above its long-term average (+3).
Participants in the Professional Services Awards receive independent, verified feedback from their clients, not to mention publicity and a morale boost if they win. Entries open this month and, with a fast and easy application process, there is no reason for your firm not to join.
The business conditions index ticked up by 1pt to +15 index points in June, after easing in the previous month. The business confidence edged down 1pts to +6 index points, to be around its long-run average level.
The NAB Rural Commodities Index gained 1.4% month on month in June, following a 3.1% gain in May. On a year on year basis, the index was down 2.9% in June. The monthly gain reflects strong lamb, wool and cotton prices.
Helping out a local sports team with sponsorship can build strong relationships with potential customers – pharmacist Silvana Gittani bet her marketing budget on it. Her success proves how many business, regardless of size, can use strategic marketing to engage with their community and forge lasting business ties.
The business conditions index decreased by 6pts to +15 index points, easing back from the historical highs seen in April. The business confidence index fell by 5pts to +6 index points, to be around its long-run average level.
Australia is a high performer in academic research – yet when it comes to commercialising that research, we rank last in the industrialised world. It’s time for change, says the Chairman of NAB.
My ‘whys’ haven’t changed over 25 years at NAB. I’m still driven by the impact economics has on our lives and the importance of delivering independent analysis that helps people and institutions make better decisions.
Do you own a small business that’s selling overseas or importing products and equipment into Australia? Trade finance can help you make the most of opportunities without tying up your valuable working capital.
Joining innovation hubs, considering alternative funding options and building courage in investors are all paths to a greater entrepreneurial network in Australia, according to business leaders.
A big order could completely transform your business but there’s a limit to how much anyone (or any small business) can handle. BDO partner Dr Mark Pizzacalla and Total Image Group CEO Pamela Jabbour discuss preparation, parameters and being strong enough to say ‘no’.
With 1.2 million visitors injecting $10 billion into the Australian economy each year, and almost one third of our international students now coming from China, Chinese custom is big business. Alibaba Australia’s MD explains Alipay.
Daylight, a sense of space, a natural outlook… architecture professor Julie Willis on how Australia is taking up the ethos of beautiful hospital design.
Insights into the mindset of Australian consumers – anxieties around future spending and savings plans, household finances, the economy, financial concerns & how these are impacting spending behaviours and levels of financial hardship.
Setting goals can drive business success – but it doesn’t come naturally to many small business owners. Consultant and author Stephen Barnes shares tips on how to get started, how to set effective goals and how to motivate your staff to reach their targets.
From June 14 to June 25, I’ll be leading NAB’s 2018 Agribusiness Japan Tour. If your business involves cattle farming, sheep farming or horticulture and you’re interested in the connections, insight and strategies being used to succeed in Asian markets, I encourage you to join me.
Seeing the benefits her care provides for patients has been the driving force behind 30 years in private practice for North Parramatta Physiotherapy & Sports Injuries principal, Mary Knapman.
The NAB Rural Commodities Index gained 1.2% month on month in February, following a drop of 1.8% in January. On a year on year basis, the index was down 2.9% in February. The gain was driven by higher grain, fruit and dairy prices, offsetting falls in beef, lamb and sugar.
Accountants should be reassured that most SMEs view them as trustworthy. Yet, at the same time, they may wish to reconsider how they can better help their business clients. NAB’s inaugural Australian Accounting Industry Survey offers telling insights into what accountants are doing well – and where they could better respond to what their customers need and value.
The quarterly NAB Business Survey gives a more in-depth probe into the conditions facing Australian business than the monthly survey, and also provides extra information about how firms perceive the outlook for their respective industries.
After half a century in business, Geoff Slade has learnt a thing or two. Here he shares seven truths about what it takes to make it in the business world.
NAB’s Consumer Anxiety Index* was basically unchanged in Q4 2017 at near survey lows with job security causing Australians the least stress, consistent with a strongly improving labour market.
In seasonally adjusted terms, at -2.2%, online retail sales contracted in December, the largest since November 2014. Looking through the month to month volatility, while the trend is still positive, it has again slowed.
Japan is arguably Australia’s most important Asian ally, and its large market of wealthy consumers is a natural target for Australian businesses selling high-quality goods and services. Here are some tips to help you establish successful business relationships.
In 2009, Sheryl Thai had just started a business and was like any other fledgling entrepreneur: hard-working, idealistic, passionate. Yet she felt alone. What she did next became the basis of a movement that’s helped thousands of women across Australia find their business voice: the League of Extraordinary Women.
Could you get more value from your financial services provider? If you only ever talk tax, you could be missing out. Stannards’ Marino Angelini explains changes in the health practice and accountant relationship and why wealth building, cost cutting and asset protection should all be part of the service.
While there are many things to consider when buying new equipment to make your business more productive, one of the most important is finding the best way to finance the purchase. NAB Agribusiness General Manager Khan Horne is urging customers to carefully consider all available options.
The craft beer industry has exploded in Australia. Four brewers explain what’s driving demand, where the sector is headed and what others entering the industry might consider.
Australia’s GDP continues to grow in spite of subdued wages growth and consumer spending. Gaining a greater understanding of how these contradictory trends break down across regional and metropolitan areas, as well as consumer spending categories, is behind NAB’s expansion of its Consumer Spending and Cashless Retail analyses.
Hope Estate’s Michael Hope says there’s a new leisure market generated by stressed city folk looking for authentic experiences to enliven the senses – and Hope Estate is taking centre stage.
Moving to a regional town might seem a career-limiting step but for entrepreneurial Australians with an eye for untapped market opportunities the opposite can apply. Business View meets two former city-slickers achieving success in country Australia.
Threats like the recent global WannaCry and Petya ransomware attacks are a good reminder of why it’s important to ensure your business data is safe, by confirming your computer’s security updates and patches are up to date, and backing-up your business data regularly.
What does it take to run a successful rural pharmacy? Two business owners – including the winner of this year’s Pharmacy Guild of Australia’s Pharmacy of the Year Award – discuss the challenges and rewards of working in a small town.
Overall sentiment in commercial property markets moderated for the second straight quarter, with NAB’s Commercial Property Index down 5 points to +18 in Q3, but still well above long-term average levels (+2).
Economic growth in most states is expected to strengthen somewhat in 2017-18 before moderating a little in 2018-19 as dwelling investment and LNG exports peak.
It’s not just nutritional benefits and old-fashioned happiness behind the Sunny Queen egg story – the company’s embrace of digital marketing includes giving an egg its very own blog. The strategy is working.
Artisans of Barossa, a collaboration of six winemaker mates, was born following a business growth decision to band together under the one umbrella brand. The result has been a host of benefits for both the individual business owners and their beloved wine region.
Australian agribusinesses are joining forces with universities to harness growing interest in agricultural careers and develop the future industry leadership needed to succeed in the global agricultural marketplace.
In just a few years, Marie Piccone has revived the fortunes of three mango plantations and the once-renowned Manbulloo brand. A careful strategy built on meeting customers’ demands is what got her there.
Insights into the mindset of Australian consumers – their anxieties around future spending and savings plans, what drives these concerns and how they are impacting actual spending behaviours and financial hardship.
For the first time since their introduction in 1999, Farm Management Deposits have topped $6 billion. Khan Horne, General Manager of NAB Agribusiness, explains which sectors and states have fuelled this incredible growth, and what the result means for the Australian agricultural sector.
Khan Horne, General Manager, NAB Agribusiness
Traditional law and accounting firms need to take a hard look at their business models and ways of pricing, or they risk getting left behind. The man who brought the term NewLaw to the world and has researched and written extensively on the subject gives five pieces of advice.
Australia’s next phase of growth must be defined by ideas, creativity and execution. Our future lies in our ability to foster a culture of innovation. But how do we measure innovation across all sizes and types of business?
At last count, the Australian pet industry was estimated at $8 billion. Business View looks at the changing nature of pet ownership and talks to three businesses tapping into the trend.
Australian fashion house Misha Collection has risen to international status within the space of three years. Fundamental to its success has been the approach of its founder, Michelle Aznavorian, a 27-year-old who has put her personal brand at the core of the company’s strategy.
After 10 years in business, Titan Ag is now a formidable strength in holistic agricultural chemical supply, respected for competitive products, relationship building – and now for being grain producers themselves.
Under the pressure of managing day-to-day responsibilities, successful business owners don’t always realise they may also be in a position to build a property portfolio.
What was the moment that mattered? Paul Blackburne, Managing Director of WA property firm Blackburne, and Gen George, Founder and Managing Director of employment sites OneShift and Skilld, tell their stories.
Rosalie Rotolo-Hassan started serving customers in her parents’ food business at Adelaide’s Central Market when she was just 12 years old – and launched her own export business at 18.
Research trials on two Northern Territory mango farms are investigating the potential of high resolution satellite imagery combined with fruit-scanning guns to improve productivity and farm efficiency.
Cutting the amount of time workers spend on administrative tasks can mean big benefits for a business’ bottom line. Yet for SMEs, honing processes like expense claims often have to take a back seat to building the business. Or do they?
Millennial SME owners are far more focused on growth and digital platforms than other generations, according to a new report released by NAB. But can they handle the ongoing pressure of entrepreneurship?
Fifteen years ago, two separate groups of enthusiastic investors and abalone farmers set out to secure a footing on the global stage. It wasn’t until they joined forces in 2008 that everything changed and the farms, within the space of nine years, went from individual 70-tonne entities to being the biggest producer of abalone in the southern hemisphere.
What was the moment that mattered? Adam Hilton, Managing Director of Noisy Beast, Media Manoeuvres' Sam Elam and Co-Founder of Appster, Mark McDonald tell their story.
HelloFresh doesn’t just deliver food, its very ethos is about bringing people together to cook and eat. So when the global franchise was looking to set up in Australia, management needed a particular set of skills to run the ship. Tom Rutledge, business graduate and former MasterChef contestant, was just the man for the job.
The NAB Rural Commodities Index is an index of 28 agricultural commodities weighted by the relative size of each commodity in the Australian agricultural sector.
Digital transformation on a shoestring opens options for residents, frees up staff and provides big benefits for Brimbank City Council, an organisation focused on delivering for its community.
The gruelling task that moving house can be was the inspiration for the online marketplace startup that’s now grown to be a household name and is attracting big investment. Business View spoke to the co-founders of Airtasker, Tim Fung and Jonathan Lui, about their journey.
Many farmers take control of their supply chain but few market the benefits to customers as successfully as Australian Grain Link. Over the past 16 years this strategy has helped them carve out lucrative specialty niches that show no signs of shrinking.
Robots as a Service could provide the benefits of robotics without the upfront costs. Technology futurist Shara Evans discusses the potential for increasing production and reducing costs.
As Australia embraces digital, the business services sector is booming. Nimble and tech-savvy service providers are helping businesses reach their customers by bridging the gaps.
Australian SMEs are confident of the future, with two thirds of millennial SMEs in particular set to expand their business over the next three years, according to a new NAB white paper released today.
Disruption is impacting both businesses and communities. But there are greater opportunities for business to solve for both. Professor Ian Williamson of Melbourne Business School shares his insights.
Third generation dairy farmer Tim Marwood was looking for a way to go from “price taker” to “price maker” when he saw an opportunity – premium artisanal ice cream.
There is no trade off between wellbeing and business metrics. We’re at a turning point in terms of how we prioritise what matters in business and our own lives. Arianna Huffington shares her insights on how to thrive.
“It’s not called failing any more, it’s called learning”: Mohanbir Sawhney, Professor at the Kellogg School of Management, details the concept of agile innovation and shares three ways in which businesses can transform to become agile innovators themselves.
The world is changing rapidly and companies need new approaches to master the new environment. Rosabeth Moss Kanter of Harvard Business School shares her insights.
Australia has the talent and the willing investors, so what’s holding our agtech sector back? SproutX General Manager Sam Trethewey discusses a new accelerator program and national co-working space network that could put us on a par with the world’s great innovators.
Hard work and hustle have helped Melbourne cousins Ross and David Fastuca secure a string of corporate customers and win multi-million dollar backing for Travelport Locomote, their travel platform.
New healthy food trends favouring scratch baking and organic and raw produce have created a resurgence of interest in traditional pantry staples, and ingredients brand McKenzie’s is keen to spur on the excitement.
A once-neglected lavender farm, Bridestowe Estate is today a global tourist destination, celebrated for the romance and colour of its 200 kilometres of blossoming lavender rows.
You may have reached a point where you’ve decided to explore alternatives to exporting alone to Asian markets. Forming a strategic alliance with another business of similar size and market presence can often be mutually beneficial. It’s important to understand how these kinds of partnerships work – and what the benefits are for your business.
Having his four daughters join the Perth funeral business he founded 26 years ago was initially something Steve Erceg resisted but today believes their involvement has been key in Seasons Funerals’ evolution and success.
Smart phones and GoPro cameras are on trial in Australian vineyards to help grape growers and wine producers better predict the season’s grape yield – information that could reap major savings for the industry.
More Australian businesses are doing business overseas and with advances in technology and the strength of the Australian dollar, more and more small businesses are choosing to import goods from overseas suppliers.
Cape Grim has carved a definitive space in the premium beef market, offering a grass-fed, mature protein raised in an environment the CSIRO tests as amongst some of the world’s cleanest air.
As an exporter, you’ll want to take advantage of any reduced costs that come your way. Free trade agreements (FTAs) do just that – and will make certain markets more attractive than others because of the greater opportunities for your business.
Mornington Peninsula Shire is investing an estimated $9.5 million in emissions reduction projects over the next five years as part of a far-reaching plan to generate a cleaner and greener environment as well as operational savings.
Look out quinoa – an Australian-grown ancient grain with serious health credentials is gaining ground on menus as awareness builds about its many benefits.
In just two years, Jamie Davison and business partner Nathan Hood acquired six businesses. Here, Davison explains how they did it – and the rookie mistakes others might want to avoid.
Exporting goods and services to an offshore Asian market might be the next step to growing your business – and pricing will be vital to your success. Get it right and you’ll become established and make a profit.
Here are 11 tips for success in China which Mr Montgomery shared with the health and aged care business stream of the Australia Week in China conference in Beijing.
Australia’s Free Trade Agreements (FTAs) can have a significant impact on businesses sourcing materials from Asia, or elsewhere around the globe. It can make it easier, cheaper and faster for both you and the business you’re buying from.
If you’ve been thinking about improving the efficiency of your importing or exporting business with Australia’s largest trading partner, here’s a more efficient way to settle trade transactions in China.
Clare and Keith Mugford have one defining philosophy that’s been pivotal to Moss Wood's export success over the last 30 years: dedication to absolute quality, from soil to bottle.
Benchmarking can help farmers identify opportunities for growth. Holmes Sackett’s John Francis and NAB’s Matt O’Dea discuss the benefits and considerations.
In 2015, Ian Pratt led major changes to his family company, South Haven Group. He discusses its new branding, the decision to establish an independent board – and the all-importance of culture.
After suffering through two droughts in 10 years, the fortunes of Central Queensland cattle stud Olive Brahmans turned around when they met a Thai investor interested in their Brahman cows.
Business leaders can feel isolated with nowhere to turn for advice or support – which is what inspired Jason Tunbridge to co-found the Leadership Think Tank. He and three members discuss the benefits of speaking out.
In 2015, JT Johnson & Sons, a fourth generation family business selling ruminant animal pellet feed and hay, celebrated its 20th anniversary with Japanese joint venture partner Asahi.
With an eye to adding more diversity to their beef, lamb and cropping operation, the Warner family hatched a plan to use their 1,700-hectare property to house a true free range egg enterprise. Caravan Eggs is the fast-growing result.
After four years at the helm of a firm in turbo-growth phase, Podpac co-founder Toby Strong shares seven ways start-ups can manage rapid growth and live to tell the tale.
Sixth-generation farmer Charles Downie has managed Glenelg Estate through a period of drought and active stock reduction, to a flourishing flock producing some of the world’s finest fleece.
Whether you’re currently exporting to Asia or merely thinking about it, a wealth of Australian Government and state support, subsidies, and grants are up for grabs. Taking advantage of any grants, subsidies, support or assistance on offer can help your business expand into overseas markets.
Pactum Dairy Group, part of the Freedom Foods Group, is riding the wave of China’s growing love affair with dairy beverages. Freedom Foods Group Managing Director, Rory Macleod, explains how.
An early love of horses almost led Western Health CEO Alex Cockram to become a veterinarian but her great interest in people’s lives, motivations and their resilience inspired her into psychiatry. It’s what’s still inspiring her today.
This insights paper has been prepared by NAB Corporate Health and JBWere to address the current challenges facing providers and to examine some of the successful strategies being adopted.
Technology has been a boon for farmers but it can also make them vulnerable to a cyber attack. NAB’s Chief Information Security Officer Andrew Dell and Beyond Technology’s Greg Spencer reveal the best strategies for cyber security.
