Feedback or suggestion

IPitch Interviews Archive

Six ways to finance your small business

By Guest Author on Monday, February 6th, 2017

This IPitch guest article was written by Jayne Blake from Prospa.  Prospa is a leading Australian small business lender. Unlike traditional lenders, Prospa understands the need for small business to access faster finance solutions – so you can make, grow and seize opportunities today.  Seeking to grow your business with a small business loan? Talk to Prospa about quick and easy access to finance on 1300 882 867.


prospa_logo

Sourcing small business finance can often prove daunting, whether you are a start-up, tradie or other small business owner. Fortunately, online lenders like Prospa have added to a range of making it easier than ever before to get the necessary funds to achieve your business dreams.

1. Friends, family and fools

The usual first port of call for small business owners, obtaining equity or debt funding from “friends, family and fools” is almost always the quickest and easiest option. However, be honest about the risks involved, get a written agreement and make sure you share profits along the way to keep them onboard – you don’t want the Christmas family dinner to get ugly!

2. Government grants

Australia offers some of the most globally admired grants for small businesses. While these grants are often competitive and may be difficult to apply for, they can save you thousands on start-up costs.

One of the most popular grants is Austrade’s Export Market Development Grant (EMDG), which is a grant for aspiring and existing exporters. While grants are not offered for every industry, it is worth investigating if a government grant exists to support your small business (find more at https://www.business.gov.au/assistance).

3. Online lenders

Online lenders like Prospa have disrupted the field when it comes to small business loans. Prospa can offer small business loans of up to $250,000 with quick approval and often same-day transfer.

One of the biggest advantages of using an online lender like Prospa is that they offer no-security loans; this means that unlike traditional secured bank loans, you will not need to risk your house as collateral.

4. Digital crowd funding

One of the newest finance options on the block, digital crowd funding through sites like GoFundMe, Kickstarter and VentureCrowd has taken the world by storm, giving everyday people the opportunity to source donations, pre-orders and investors from around the world. Some start-ups have managed to secure thousands of dollars through these sites. However, be sure to read the T&Cs back to front before choosing this finance option, as many platforms take a large service fee.

5. Invoice finance

This option is increasingly popular for maintaining steady cash flow amongst small businesses. Invoice finance is generally where a small business sells their invoices to a third party for a reduced upfront payment (saving you from the worry of delayed payments) or applies for a loan using an invoice as security. Certain invoice finance services, like Prospa’s InvoiceNow, offer full invoice value in exchange for a small drawdown fee and an ongoing weekly interest rate.

6. Angel investors and venture capitalists

This is often the last alternative, since angel investors and venture capitalists typically require an equity stake in return for their financial support. However, a major benefit is gaining access to their business experience and strong industry connections, potentially helping to grow your business exponentially.

Employee rostering: Excel versus scheduling software

By Guest Author on Friday, January 6th, 2017

This IPitch guest article was kindly supplied by Eva Davies of Custom Gear.

Excel has always proved to be a great tool for employee scheduling. However, the truth is that it has become outdated now; it is inefficient, old fashioned, and time consuming. In the end, you might just have been using paper and pen. Excel is great for making overviews in budget and stats because more than one person gets to use it. But, successful businesses demand more accessible tools for this.

Every hour spent on manually updating your schedule means that you waste 7 hours every week, the time that you can spend on other things instead, one where you get to make your business better than your competition.

Handling changes in shift

Employees usually make changes in their shift schedule. This means that they will call up the Human Resource manager and request that they make this change officially. As a manager, you too can manually make the changes on your excel sheet and also double check so that you reduce the possibility of mistakes occurring.

Communicate shift changes

Shift swaps, holiday leave, late arrival, sick leaves, and no shows are some of the reasons that a change in the timings of a work shift may have been made. Whatever your schedule may be, it is important that you notify your staff about it all; otherwise, they will have no real way of knowing at all.  On top of that, most businesses make it mandatory for the changes in timings to be communicated effectively to the Human Resource management. This means that a lot of time will be spent on emails, phone calls, text messages, and the passing on of information verbally from one person to another.

On the other hand, scheduling software can directly document the cause for shift change. Depending on the software tool you are using, it may be in the form of a series of reasons that the staff member can choose, or a space where they can fill it out and mention in detail.

Is it just a list of who came into work?

The scheduling software has many options including sick leave taken, requested time off for the near future etc. In other words, a human resource manager can simply look up a staff member’s information on it and check for their availability. Compared to this an excel schedule does not have room for this and such information is stored elsewhere.

Difference in template

With Excel, people find it wonderful that they are able to simply copy and paste a template that they can use forever. However, this calls for a lot of columns in as little as a year at work. Scheduling software works around an optimized template which automatically updates information and adjusts data, making sure that you don’t have to skim through columns to find the right date and schedule.

Calculating hours

Manual scheduling does not allow one to monitor the hours worked by a person (i.e. time in and time out) automatically. The problem with this is that you can’t register whether their hours correspond with the working hours they are required to complete. In the end, it will influence the company’s wage spending.

Uniforms: Are they really needed?

By Guest Author on Tuesday, December 20th, 2016

This IPitch guest article was kindly supplied by Eva Davies of Custom Gear.

eva-davies

Well, that is definitely an age-old question and the answer to that question cannot be answered easily. Ever since its appearance in the 16th century, uniforms have distinguished people holding different offices and designations. Uniforms are used in the military, educational institutions, and in organisations as well.

You must have worn uniforms in school and you probably might be thinking how annoying they were. A common saying about uniforms is that they are unappealing, boring, and they hold back a person from revealing their true personality. On the flipside, uniforms are said to act like promotional material for a company or brand; they spread awareness about a specific organisation and also increase professionalism amongst its employees.

Whether it is a regular uniform or a branded uniform, uniforms have continued to put organisations into a predicament. Should the ones using uniforms continue using them or discard them? And what should an organisation do if they are willing to adopt a uniform for the first time? Let’s take a further look.

Their good side

· Uniforms advertise your brand: Uniforms have the uncanny ability to promote your company even when you don’t realise it. When your employees wear a uniform, they become like walking and talking billboards that scream your brand’s name. For example, at workshops, training programs, conferences, and seminars, your employees will also be marketing your company by wearing a uniform.

· Shows professionalism and builds trust: No potential customer would approach an   employee dressed shabbily; it will also show that your company is unprofessional and unserious. On the other hand, an employee wearing a uniform will look more professional, serious, and approachable. Not only that, but it creates trust between a potential customer and an employee.

· Creates a sense of equality: With a uniform, you don’t have to worry about your employees bickering over who is the most smartly dressed person in the office. When they are all wearing the same apparel, it will give them a sense of equality and create feelings of belongingness. It will also increase team work and cooperation.

· Enhances productivity: The human mindset is a complex thing; it’s a fact that when a person wears a uniform, they enter a state of mind which prompts them to carry out the task with concentration. The dress code does have an effect on the productivity of an individual. When a uniform is worn, the person adopts a professional attitude and works more diligently, thus improving the productivity.

Their bad side

  • They can be a hindrance: Uniforms need to be comfortable or else if they aren’t, it will cause your employees discomfort. This may lead to a decrease in a worker’s output.

  • They can cause problems in a diversified group: If your organisation employs a multiethnic group, you need to design uniforms that satisfy your employee’s cultural and religious beliefs. If it doesn’t, an employee might feel out of place which will affect their productivity in a negative way.

Even if an organisation has a strict dress code or uniform, there are many tips that can help your employees look more stylish and feel comfortable at the same time.

Sources

The best dog + startup-friendly dining spots in Sydney

By Guest Author on Monday, December 19th, 2016

This IPitch guest article was kindly supplied by Mia Williams.  Mia is a content marketing manager working for Rufino Store in Sydney – a startup selling luxury dog collars.


dogworking

Going out for a delicious feed doesn’t necessarily mean that you have to leave your puppy at home whilst working on your new startup. Fortunately, Sydney is a hotbed for venues that allow you to bring your dog with you - because, let’s be honest, they are a part of your family! Here are ten of the best dog-friendly dining spots in Sydney.

The Vic On The Park

Instagram: https://www.instagram.com/viconthepark/

Address: 2 Addison Rd, Marrickville

Vic On The Park is one of the city’s most famous pubs, renowned for its friendly atmosphere and great facilities. Pets are always welcome, with water bowls for dogs on the back deck and in the car park.

Cuckoo Callay

Instagram: https://www.instagram.com/cuckoocallay_cafe/

Address: Newtown Railway Station, 324A King St, Newtown

Cuckoo Callay has a great outdoor area where you can sit and relax with your dog. The cafe offers maple bacon dog biscuits called ‘pupples’ and ‘puppychinos’ made out of goat’s milk and dried liver sprinkles, available for $3.

The Grounds of Alexandria

Instagram: https://www.instagram.com/thegrounds/

Address: 7A, 2 Huntley St, Alexandria

The Grounds is one of Sydney’s most popular dining experiences, in the heart of Alexandria. Not only does it feature its own animals (such as adorable Kevin Bacon, the pig), but it allows you to bring your dogs to the Potting Shed, which is an outdoor garden area.

Pelican Pavilion

Instagram: https://www.instagram.com/pelicanpavilion/

Address: 1064 Pittwater Rd, Collaroy Beach

An annex of The Collaroy Hotel, Pelican Pavilion has its very own dedicated Canine Corner. This bar is right on the sand, accessible from the beach and the perfect stop off after walking your dog. They even serve dog biscuits and ‘puppycinos’.

The Greens

Instagram: https://www.instagram.com/thegreensnorthsydney/

Address: 50 Ridge St, North Sydney

The Greens is particularly great for taking your dog because the chef makes his own dog biscuits from scratch, for $2.50. Dogs can have fun in the outdoor courtyard and there is a massive park next door.

The Beresford

Instagram: https://www.instagram.com/theberesford/

Address: 354 Bourke St, Surry Hills

The Beresford is not only a dog friendly pub, but starting has started putting on dog shows in the courtyard. These involve treats, toys and other prizes. Dogs are encouraged to dress up and contribute to the vibrant atmosphere.

Roseberry Zeus Street Greek

Instagram: https://www.instagram.com/zeusstreetgreek/

Address: 2/34 Morley Ave, Rosebery

Roseberry’s Zeus restaurant makes delicious and super healthy Greek street food, but also lets you bring your dog along to the restaurant’s large outdoor deck. Something different food-wise than most of the places on this list!

Stain Cafe

Instagram: https://www.instagram.com/staincafelanecove/

Address: 47 Gladesville Rd, Hunters Hill

Stain Cafe has a great outdoor seating area with dog bowls, so your puppy can quench its thirst just as much as you can. The Lane Cove venue (1 Felton Avenue) also has a playground, making it ideal.

Honest Don’s

Instagram: https://www.instagram.com/honest_dons/

Address: 2a McCauley St, Thirroul

A bit further south, this Wollongong area cafe serves delicious $4 puppycinos, made out of frothy milk and liver treats. What’s even better, $1 from every sale is donated to the Wollongong Animal Rescue Network.

Orangeville Meat Co

Instagram: https://www.instagram.com/orangevillemeatco/

Address: Unit 2/11 Rodeo Rd, Gregory Hills

Orangeville Meat Co is an interesting venue, combining a butcher and cafe into one. It sells large bags of bones for dogs, so they have something to bite on while you enjoy some of their delicious menu items or shop for your week’s worth of meat.

There are more dog friendly dining options in Sydney than you could imagine! These are perfect for post-walk feeds, or for whole family affairs.

Cloud Computing Explained

By Guest Author on Thursday, March 10th, 2016

cloud-computing_2

Cloud computing is still a confusing concept for many people, yet it is the future of Information Technology.

IPitch spoke to Sheng Yeo, the CEO of OrionVM about cloud and how it is changing the way businesses approach their IT.

Addendum: For anyone interested in taking an app “international”, check out this great new infographic, kindly supplied by Erica from TranslateByHumans:

https://www.translatebyhumans.com/en/app-translation/how-to-market-your-app-internationally

Read more

Green Lane Digital: New Resident Profile

By Guest Author on Tuesday, February 21st, 2012

49aca63b8bee1947b4fa38e37caffbc2_resizedWritten By Irina Belsky

Corplite founder and recent acquirer of Aweelectrical Bradley McHugh is the newest resident of the Green Lane Digital space.

Ipitch chatted to Brad about his background, the challenges of running two businesses at the age of 21 and his plans for the future.

Read more

Educating Entrepreneurs The Frank Way

By Guest Author on Thursday, February 2nd, 2012

frank-logo-white

Written by Irina Belsky

For some, becoming an entrepreneur is like learning a new language. It’s foreign territory and help is a must.

This is where The Frank Team roll up their sleeves and get to work, providing entrepreneurs with advice and practical skills to help them along the way. The entrepreneur focused education and training company began as a startup ten years ago and like any startup it was born from a need.

“While we were at university someone gave us a brief to do an event and when we started we realised that we had no skills to put an event together,” says Natasha Munasinghe, director of The Frank Team, “That was a bit of a light bulb moment when we realised that when it came to practical skills and life skills, there really wasn’t much training.”

The desire to help others avoid the same pitfalls motivated Natasha and co-founder Jessica Schebesta to continue growing The Frank Team. It is now a fully fledged company with partnerships in the government, public and private sectors.

Natasha spoke to us about her involvement with The Frank Team and about the opportunities offered by the organisation.

Read more

Startup Profile: Wyngle

By Guest Author on Tuesday, January 10th, 2012

Written by Irina Belskyscreen-shot-2012-01-10-at-52150-pm

Wyngle is waging a war on the traditional group buying sites with its new concept of ratio shopping. The startup has devised a way to let shoppers purchase goods for a mere dollar without taking away profits from retailers.

IPitch chatted to Wyngle founder Sebastian Langton about what Wyngle can offer to businesses and shoppers.

The offering

“The easiest way to describe Wyngle is it’s products, goods and services at the same price you’ll find anywhere else in the market but with the unique opportunity to potentially purchase them for a dollar.” says founder Sebastian Langton.

Each product on the Wyngle website has an attached ratio such as ‘1 in 3 for $1′.  This ratio dictates your chances of purchasing the product for one dollar. If the ratio is 1 in 3 you have a 1 in 3 chances of buying your item for $1. If lady luck’s not on your side you simply commit yourself to paying the regular retail price.

Read more

New Accelerator Program Launches in Sydney

By Guest Author on Wednesday, December 21st, 2011

screen-shot-2011-12-21-at-43136-pm1

Written by Irina Belsky

What can Santa give your tech startup this Christmas? A new accelerator program, obviously.

Pushstart has picked the festive season to launch a three month accelerator program for early stage tech startups.

We chatted to Pushstart co-founder Kim Heras about the program.

Program overview:

Ten successful startups will receive $20 000 funding to propel the development of their business ideas, collaborate with mentors and pitch their ideas to investors during a series of demo days at the end of the program. In return Pushstart will take 8% common equity in each startup.

Read more

Startup Profile: goCatch - the innovative taxi catching app

By Guest Author on Tuesday, October 18th, 2011

screen-shot-2011-10-18-at-24323-pm1Written by Irina Belsky

Introduction

The app, which launched on the 23rd of June, allows passengers and taxi drivers to see each other’s location on an real time GPS map. Passengers can request the closest cab by selecting it and making a booking while taxi drivers can pick them up, using the GPS signal on the map.

The app’s goal is to make the taxi system more efficient by providing passengers with a faster service and taxi drivers with more jobs.

We spoke with co-founder Andrew Campbell to learn about the start up process of goCatch.

Conception Of The Idea

goCatch is the result of a partnership between Andrew and Ned who first met at a networking event last year. The pair decided to create a taxi catching app when they realised that there was a need for a service that would provide passengers with a more effective way to catch taxis.

“Ned was doing mobile apps at the time and I thought well what about a mobile app for catching taxis … turned out Ned was thinking about a similar idea as well where you could watch taxis approaching at the time” says Andrew.

Read more