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Articles by Mac Wang
Out of COVID, Aussie retailers seek new opportunities
From established retailers to challenger and disruptor brands, Covid-19 drastically altered the way retailers reach their customers, forcing them to adapt. After a tumultuous 2020, Australia is fortunate in that it has slowly been able to return to some semblance of normal. With COVID accelerating retailers’ shift to a more online economy, they are now better positioned in the long term.
You went online during COVID-19, now what?
By Emily Bencic on September 30, 2020 in Latest News The gradual migration from the offline to online economy has been kicked into overdrive, with a surge in ecommerce that is showing no signs of slowing post-lockdown. Australian consumers began taking an ecommerce-first approach to shopping, with entirely new demographics doing so for the first time.
Finding resilience in the subscriptions economy
By Emily Bencic on July 21, 2020 in Latest News Australia’s lockdown and social distancing has been a boon for the subscriptions economy. Streaming services, e-learning, video conferencing have seen growth during COVID-19, but other businesses are finding resilience and adapting their models to tap into the subscription economy. Ecommerce giants like Amazon are doubling down on what made them great: convenience.
How to build an online store from scratch, according to the experts
Tue 2 June 2020 - 7:27 am Small Business By Mac Wang In a retail landscape marked by unexpected and sudden closures, businesses that might not have considered going online at all have had to make the leap to an online store very suddenly. Urgently shifting to an online presence amid COVID-19 has forced a lot of retailers into choppy water, however, in the longer term, taking your business online has major sales, financial and growth advantages.
How a subscription model can make your business boom
Sam Wood, founder of 28 by Sam Wood. Consumer expectations are changing, valuing access and outcomes over ownership. Today, consumers are less willing to pay large amounts for products or services upfront — look at the rise of buy now, pay later platforms like Zip and Afterpay. It’s not necessarily about spreading the cost out either, but only paying for something as you use it.
The secret weapon to retailer's online success
By Georgia Clark on June 12, 2019 in Contributor With e-commerce more important than ever for retailers, it’s web developers that are brands’ secret weapon, writes Mac Wang. ADVERTISEMENT It’s no secret the online opportunity for retailers today is immense, and it’s growing rapidly by the day. Currently, online shopping in Australia accounts for more than $23 billion annually, an 11.5 per cent jump from 2016. While the opportunity is growing, so too are customer expectations and competition.
How to go global from day one as an Aussie startup
Thinking about international expansion, particularly when first starting out, can seem overwhelming and premature, but it could be crucial to the overall success of your startup. New Stripe research shows a direct correlation between the speed of a business internationalising and its overall success.
How to have your business run smoothly without you
It can be hard for business owners to take time off from their retail stores – whether that’s because they’re too busy, need to be around to make decisions, or simply feel they can’t relax without knowing how the business is tracking. But taking a break can be incredibly important, if not sometimes necessary. And as we head into the busiest retail season of the year, taking a break now before the rush could be the best thing you do – for yourself and even for your business.
RBA small business report backs Ombudsman's recommendations
Getting access to finance in order to start or grow a business is a still a big challenge according to a new report. Small business owners and start-ups are still finding it difficult to access finance to start or grow their businesses, according to the Reserve Bank of Australia’s (RBA) latest bulletin, Access to Small Business Finance,” the Australian Small Business and Family Enterprise Ombudsman, Kate Carnell said.
The startup founder finding meaning in tap and go transactions
ImpactPay will give all Australians the opportunity to find meaning in their tap-and-go card transactions. Through a new smart digital wallet, users can accomplish humanitarian change, drive breakthroughs in healthcare, deliver global education and support local initiatives every time they make a purchase.
How to protect your business from online payments fraud
Consumers today are increasingly using online businesses for everything from ordering clothes to groceries. This shift is having a positive impact on our economy, creating new opportunities for businesses to reach a growing number of consumers not just locally, but globally. Unfortunately, this opportunity also has a cost ㄧ fraud.
The current threat landscape for SMBs
There is no doubt that cyberattacks are on the rise in the Australian Small to Medium Business (SMB) ecosystem. According to a 2017 survey by Webroot, 96% of SMBs in Australia believe their business will be susceptible to external cyber security threats this year. Even though they are aware of these threats, 71% of respondents admit they are not prepared to address them. So why are businesses failing to invest the time and budget into protecting themselves against cyberattacks?
Woolworths faces class action on downgrade
Woolworths is facing a potential $100 million class actionWoolworths is facing a potential $100 million class action launched on behalf of investors whose shares lost value following a shock 2015 profit downgrade by the supermarket giant. The class action, brought by lawyers Maurice Blackburn, alleges Woolworths breached continuous disclosure obligations and engaged in misleading conduct by giving profit guidance that couldn’t be met.
Let's Talk.. Networking
Networking is a term that comes with small business. It is incredibly important to network and important to have a good steady network. Getting out of your comfort zone and mingling in different circles could mean a new client or business partner that you never would have met before. Networking can be instrumental to the growth of your business. Dynamic Business asked experts how networking has accelerated growth in their companies. If you think networking sucks, you’re probably doing it wrong.
Why SMBs are under pressure to comply with data breach laws
Small and medium sized organisations are increasingly under pressure to comply with the Notifiable Data Breaches Scheme, which came into effect in February of this year. This comes as a surprise to businesses with a turnover of less than $3 million, as the legislation applies to organisations with a higher turnover that are subject to the Privacy Act.
NAB first to face court over fees issue
National Australia Bank says it is working to rebuild customer trust after becoming the first player in the financial services industry to face court action over charging fees for no service. NAB could incur millions of dollars in fines after charging hundreds of thousands of superannuation customers $100 million in fees for services they did not receive.
How to build and scale an online marketplace
Think about the last time you ordered a meal to be delivered, or a ride home from work. Chances are you’ve just used one of the many multi-sided online marketplaces that are transforming our everyday lives. International marketplaces like Deliveroo have launched with huge success in Australia, while home-grown marketplaces like Catch.com.au and 99designs are gaining popularity.
Do you need professional insurance solutions to protect your business
Dynamic Business is the premier destination for SMEs and startups seeking news and expert advice as well as inspiration from Australia’s leading entrepreneurs. Having kept Australia’s SMEs and startups informed for more than twenty years, our publication has a firmly-established reputation as a leading business resource. To begin receiving exclusive content from Dynamic Business, subscribe to our complimentary eNewsletter, sent directly to inboxes every Monday, Wednesday and Friday.
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