• Business

    ANZ’s four-day work week pilot success a “game changer” for how we work

    Joe Jiang |  July 5, 2023

    Successful trials of the four-day work week in Australia and New Zealand have signalled a need to transform the way we work to achieve sustainable benefits for the employee, the organisation and society, RMIT Professor Zhou (Joe) Jiang, explains.

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  • Finance

    Australian middle market continues to power ahead as the engine room of economy

    Mick Wright-Smith |  June 30, 2023

    Banks face several key challenges in lending to middle market companies, Mick Wright-Smith, Co-Founder and Partner, Epsilon Direct Lending explains.

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  • Digital transformation

    Embrace digital transformation now or risk falling behind

    Adrian Floate |  June 26, 2023

    Businesses of all sizes need to embrace digital transformation – especially in how they make/accept invoice payments and how this impacts cash flow – as a means of survival in today’s uncertain economic environment, Adrian Floate Managing Director of Spenda explains.

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  • Retail

    Retail recession will be life-changing for consumers

    First 5000 |  June 23, 2023

    According to customer experience expert, Lyndall Spooner of Fifth Dimension, the retail recession will be life-changing in a positive way for consumers. While brands are going under and there is blood on the streets, consumers will be the winners.

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  • Digital transformation

    SMES to benefit from staff training, digital investment

    First 5000 |  June 22, 2023

    Chartered Accountants Australia and New Zealand (CA ANZ) is encouraging SMEs businesses to act now if they want to benefit from a new tax incentive to train their employees and digitise their business.

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  • Cyber security Have your say

    ASIC invites Australian entities to assess their cyber resilience

    First 5000 |  June 21, 2023

    ASIC-regulated entities, including mid market businesses, publicly listed companies, other entities holding licences and authorisations, are invited to take part in a survey to measure cyber resilience in Australia’s corporate and financial markets. 

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  • Human resources

    Changes to pay secrecy explained

    Sean Melbourne |  June 14, 2023

    Penalties for pay secrecy clauses have been updated. Sean Melbourne from professional services company Source explains what employers and employees can and can’t do when it comes to pay secrecy.

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  • Superannuation

    Federal Government announces payday super from 1 July 2026

    First 5000 |  June 1, 2023

    The Albanese Government has announced it will require super to be paid at the same time as salary and wages from 1 July 2026.

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Latest News

  • Paid maternity leave just around the corner…are you confused?

    Matthew Tukaki     |      December 20, 2010

    It’s time to make sure you understand and are prepared for the introduction of the paid parental leave scheme.

    It strikes me that there is a degree of confusion in the business community about a fundamental series of changes that will come into force from 1 January 2011. In the main, those changes relate to the introduction of the Government’s Paid Parental Scheme.

    This confusion has been evident in a series of workshops that I have been running around understanding the impacts of legislation on employers and hiring managers.

  • Mid-size businesses should factor in factoring

    David Hechter     |      December 14, 2010

    In today’s credit restricted economy, it’s more important than ever for medium-sized businesses to know what forms of financing are available to them.

    Medium-sized businesses are different, but like companies of all sizes they have the challenge of chasing up slow payers. 

    In fact, because they are more likely to be providing services to large companies, the mid-size business is feeling this pain more acutely.    

    The global financial crisis and the rise in funding costs has prompted banks to protect their internal balance sheets more than ever, and are tightening up their credit criteria for businesses of all sizes. To ensure their success, mid-size growth companies may need to rely on alternative forms of financing, like accounts receivable factoring.

  • Last minute goodwill gift guide

    Virginia Harrison     |      December 14, 2010

    Despite jitters from retailers that Christmas spending will be down this year, Australians are expected to fork out nearly $40 billion dollars this festive season.

    The estimate from the Australian Retailers Association also found that in the 6 week lead-up to Christmas, we’ll spend $3.4 billion in department stores and nearly $3 billion on apparel alone.

    Pro-Bono Australia is helping you direct some of your festive spending to a good cause. Use its Ethical Giving Guide to find goodwill gift options and ways to support not-for-profit groups this Christmas.

  • Who are you in the zoo?

    Virginia Harrison     |      December 13, 2010

    Hyenas make great project managers. A lion should head up your sales team, but never the HR department. That job is best left to an owl.

    Or so according to The Organizational Zoo, a system of understanding human interactions which uses animals to represent different behavioural styles, devised by lecturer and knowledge expert Arthur Shelley.

    The concept is designed to improve group dynamics and outcomes.

    “It doesn’t matter how good a project is, success always leads back to the dynamics of the people that involved,” Shelley says.

  • Win a copy of The Profit Principle

    Sally Rose     |      December 9, 2010

    Refer a member to win!

    Help grow the First 5000 community. Nominate an eligible* friend or colleague to receive complimentary First 5000 membership before 31 December 2010 and we’ll shout you a copy First 5000’s book of the month, The Profit Principle.

    Just send an email to editor@first5000.com.au with the name, position, company and email address of the eligible member you’re nominating, plus the postal address where you’d like us to send your copy of The Profit Principle.

  • Buck rising in business travel

    Virginia Harrison     |      December 6, 2010

    The billion-dollar business events industry is returning to health after the economic downturn slashed spending in the sector.  

    Business events visitor expenditure took an 18 per cent or $1.8 billion dive last year in the wake of the financial crisis, according to a new report by Tourism Research Australia.

    The Minister Assisting on Tourism, Senator Nick Sherry, said the report shows the worst appears to be over for the sector, which was worth $9.7 billion pre-global recession.

  • A commercial edge, an exploratory edge and a learning edge

    Virginia Harrison     |      December 6, 2010

    At the First 5000 launch held at NSW Parliament House on 20 October 2010, Carl Harman, Academy Dean for Leadership at the National Australia Bank spoke about why NAB became involved with the initiative.

    I should explain that prior to becoming the Dean of Leadership and Talent at the NAB I was heading up marketing and strategy for the Business Bank and as Australia’s leading business bank this segment is at the very core of our DNA.

    Around four years ago, before I met Peter, we had been thinking about how we might connect businesses to draw systemic knowledge from the market place, rather than snippets, from the strong relationships we have made over the years with our customers. Yet as a bank we are not very good at playing in the online and social media space and that’s what we are going to be able to develop through the First 5000 initiative.

  • Shaping the market-place

    Virginia Harrison     |      December 6, 2010

    The leader of Deloitte Private, David Murray, had this to say at the launch of First 5000, held at NSW Parliament House on 20 October 2010, about why Deloitte Private decided to become involved in the initiative.

    We often say things are all about the timing and in the case of First 5000 the timing of the initial expression of interest aligned with what we were doing. As JV said in the introduction, I have the pleasure of running what we call Deloitte Private which is a division of Deloitte that looks after private organisations, private entities, businesses and their owners- high networked individuals.

    Deloitte Private also spans into certain elements of the listed sector as private business obviously has a very close correlation with the listed sector as many seek to list.

  • Opportunity for a collective voice

    Virginia Harrison     |      December 6, 2010

    At the launch of First 5000 on 20 October 2010 held at NSW Parliament House Leo Silver, managing director of Integrated Wireless, spoke to Jeanne-Vida Douglas about how First 5000 can meet the needs of a businesses like his own.

    JVD:In order to get an idea of what kinds of businesses that are involved within the First 5000 initiative I would like to introduce Leo Silver. He is the managing director of the Australian technology company Integrated Wireless which delivers emergency wireless communication solutions to large institutions like hospitals and so forth throughout the country.

    So Leo, tell me why would you join First 5000 and how are the needs of a business such as your own meet through joining a group like First 5000?

  • Know-how: tips to manage your information load

    Rodney Coyte     |      December 6, 2010

    Dr Rodney Coyte put a SME under the microscope and discovered cracks in conventional wisdom about how to manage information in smaller organisations.

    Plenty of work has been done assessing knowledge management practices in large enterprises, but a research gap exists when it comes to SMEs.

    Read the first stage of Dr Coyte’s findings and advice on how mid-size companies can better manage information and boost profit-making.

  • Go back to school in 2011

    Virginia Harrison     |      December 6, 2010

    Thinking of hitting the books next year but not sure where to start?

    There are plenty of options to consider, from short courses, diplomas and certificates through to a full-blown MBA.

    We’ve done the first bit of hard work for you. Here’s an outline of what’s on in executive education for 2011.

  • It pays to be flexible

    Virginia Harrison     |      December 1, 2010

    Want to drain an extra 2 days’ work out of your staff each week? Let them set their own start times and embrace workplace flexibility.

    Flexibility helps attract and retain staff, as well as boost discretionary effort by encouraging employees to go the extra mile.

     “Managers in SMEs know the cost of losing an employee and the cost of recruiting again, and building someone up. If flexibility can help you retain a person for longer than you otherwise would have, then you have to put it onto the table,” Aequus Partner Juliet Bourke says.

  • Business group delivers work to network

    Virginia Harrison     |      November 29, 2010

    A new networking group promises to be the middle man, sourcing work as well as contacts to save businesses time and money.

    IPNConnect is a UK-based networking company that will launch in Australia next month.

    Founder Paul Lawton visited Australia this month for talks with local partners including government departments, chambers of commerce and private enterprise.

    “We’re going to kill traditional networking, all over the world. I know I wouldn’t go to a networking event and pay a fee just to swap business cards. I want more,” Mr Lawton says.

  • Style tips from a corporate image guru

    Virginia Harrison     |      November 25, 2010

    For Robin Powis, the clothes really do maketh the man.

    A corporate image stylist, Powis helps individuals seeking to take the next career step or simply polish their “personal brand.”

    “I help people create a natural confident style. Everyone, no matter what industry they’re in has to think about what image they create,” Robin Powis, founder of Defining Style says.

  • Tools for SMEs to trade on sustainability record

    Virginia Harrison     |      November 24, 2010

    No business wants to do more reporting, but tracking and publicising sustainability performance could help boost the bottom line.

    Sustainability reporting covers an organisation’s economic, environmental and social achievements, to satisfy a range of stakeholder obligations.

    The benefits for corporates of improving sustainable practices include brand and reputation strengthening, increased efficiency and market differentiation.  

    But it’s an area smaller companies often overlook.