We all want to know one thing, are we beating our competition?
The challenge for SME business owners in Australia is that no one can truly answer that. Our businesses don't make big announcements on the ASX. We don't report our profits and make information public, so while we get to enjoy our privacy, it is kind of hard to know if others are performing better.
Big Data, a buzzword we hear so often about has finally had an impact on Australian SMEs.
Our friends over at Xero have used their massive amounts of data on Aussie businesses and released the Xero Small Business Insights (don't worry, all your detailed Xero data is still secure and private only to you and the people in your business), to summarise macro economic trends.
Xero reached out to us and asked for our thoughts on what the September data means. Michael Little cast his experienced eye over the data and Xero published his thoughts on 5 ways to get cash into your business quicker on their Small Business Insights Blog
If you want to find out how you can beat your competition, why not learn more about our Business Strategy Service
Or jump strait to the 5 tips here