How much is the cost of a downtime for SMEs?

per minute, it costs and average of 5,60...

Author

Maziar Foroudian
August 07, 2024

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Latest Stories

Boost your SME's productivity with the top project management tools explored in this week's Tech Tuesday! Learn how AI, innovative planning tools, and interactive workspaces are revolutionizing project management.

Brace for power disruptions by 2027, warns Australian Energy Market Operator. Discover the financial implications for businesses and learn how to protect your data and operations during outages.

Brace your business for more tough times. Discover how to optimize cash flow in FY2025, rise above the crisis with greater financial resilience and leverage automation for data-driven decision making.

Discover how Australian SMEs can tap into the exploding e-commerce market with efficient cross-border payment solutions. Learn about new strategies and technologies transforming international trade, and why prompt payments matter in this era of rapidly changing consumer preferences.

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Passionate Income

Empower Your Mind & Gain Financial Literacy with Actionable Steps in a Bite-Sized Three-Minute Read

Top stories

Entrepreneur contributors stress the importance of mindset in achieving business success. With strategies like embracing failure, outsourcing tasks, investing in coaching, and surrounding oneself with supportive networks, entrepreneurs can propel their businesses forward and reach new heights.

Running a business is like raising a child. As a working parent managing your venture, balancing young workers' needs, finding the right partner, and outsourcing tasks can lead to business success and personal growth.

Purpose-led brands in Australia are gearing up for price increases amidst a cost of living crisis. By leveraging their ethical, sustainable, and transparent supply chains, these brands are poised to connect authentically with consumers and justify the higher costs.

Australia

Remarkable's 2024 accelerator cohort includes startups offering disability tech solutions, such as accessible products and AI-based project management systems. The success of past cohorts has led to significant revenue growth and increased job opportunities for people with disabilities.

In just four years, Sydney brothers David and Jonathan Green grew their green energy company, Green.com.au, from $20,000 in savings to an expected $40 million turnover. Leveraging YouTube, hustle, and a focus on people, they aim to become Australia's largest renewable energy firm.

Australian Economy

Australia has a unique opportunity to eliminate criminal behavior from the construction industry by dealing with the CFMEU. Innes Willox argues for placing the union's construction division into administration for the benefit of the economy and workers.

Reserve Bank of Australia's governor, Michele Bullock, rejects rate cut possibility before Christmas due to a hot economy and high inflation. She warns that interest rate cuts are not imminent, challenging market expectations.

World

Global stock markets are plunging as fears grow about a US economic slowdown. The recent US jobs report was worse than expected, leading to speculation about a recession. However, experts are cautious, highlighting some positive economic indicators.

Global stock markets have been plummeting as fears grow about a US economic slowdown. US jobs data for July was much worse than expected, leading to concerns about a possible recession. However, experts remain optimistic about the economy's future.

Tech

Internal conflict at OpenAI over releasing a watermarking tool for detecting ChatGPT-generated text. The tool would be accurate 99.9% of the time, but concerns about false positives and stigmatizing users have stalled its release.

Judge Amit Mehta's ruling against Google for maintaining a monopoly on online searches and advertising could reshape Big Tech's business practices. The decision is a significant victory for federal antitrust regulators, with other pending lawsuits against Meta Platforms, Amazon, and Apple.

Elon Musk criticizes the US Federal Reserve's decision not to lower interest rates. Musk believes the Fed should drop rates to avoid a correction. Markets have been volatile, prompting speculation of an emergency rate cut.

Curated for you

Contrary to stereotypes, research shows that Gen Z workers are valuable allies in improving hybrid work culture. Brian Elliott explains that their insights into digital work can benefit all employees. Managers should listen and leverage these perspectives.

The origin stories of successful brands like Apple, Nike, and Starbucks are powerful narratives that set them apart from competitors. Authenticity, uniqueness, and relatability are key elements that make these stories resonate with consumers.

Establishing an emergency fund is vital in personal finance, acting as a financial safety net for unexpected expenses. High-yield savings accounts are an ideal place to keep these funds, offering growth and accessibility in times of need. Prioritizing this fund can protect your financial stability and overall well-being.

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