ATMS UPDATE
Reflections on the Council of Small Business Organisations Australia ( COSBOA ) National Small Business Summit held in Sydney on 5-6 April 2022
Peter Berryman
Do you want to know what was the most repeated phrase by presenters at the Council of Small Business Organisations Australia ( COSBOA ) in April this year ? It was that small business and family enterprise is the ‘ engine room ’ of the Australian economy , and the heart of our community . That ’ s us - our 9000 plus ATMS members are counted among the 6 million Australians who work in 3.5 million ( nano / micro / small / medium ) small businesses , defined as having an annual turnover of under $ 10M per year ( Australian Tax Office definition ), or up to 20 employees ( Australian Bureau of Statistics definition ). I was surprised to learn that small business accounts for over 97 % of all Australian businesses .
With ten sessions on topics ranging from the flexing of institutional power by our Australian regulators to economists ’ reports on the potential future of our economy I can ’ t do justice to reporting all that happened at this Summit , so I ’ ll focus on just one that I think might have the greatest impact on ATMS members . That was a three-person panel presentation in Session 4 called “ Powering the Digitalisation of Small Business for Future Success ”. Here ’ s the Agenda pitch : “ Online consumerism is on the increase , signifying the digitalisation of small business as an essential driver for their future success . There has been overwhelming public support to shop small , but how can policy and industry support small business ? This session will share statistics , tools , resources , and real stories of change to demonstrate and inspire ways small business can improve their digital presence to compete effectively and capture the online market ”.
They had me at “ Online consumerism is on the increase …” though I have yet to see Artificial Intelligence , Augmented Reality or Virtual Reality deliver a remedial massage , check vital signs , or accurately insert an acupuncture needle , as human touch still reigns supreme in our profession . Meanwhile , uptake of telehealth has rapidly progressed for ingestive modalities , such as naturopathy . Public Health Orders have pushed social distancing to the “ new normal ” of technology-assisted consultations . Now we do so much more Zoom , Teams , Messenger , Skype , WhatsApp , and FaceTime consulting than ever . Same or next day deliveries are booming for our courier services . However , small business still lags behind medium and large business across all measures of digital adoption ( i . e . rates of internet access , web presence , social media presence , and engagement in e-commerce ). Not surprisingly , receiving orders via the internet is the lowest performing sector for small businesses .
One in seven small businesses are not digitalised and are missing out on this revolution , which 98 % say is invaluable , while 20 % sit on the sidelines worried about cybersecurity , hackers , scams , and their loss of privacy . Never getting your peace of mind back after the devastation of , say , a ransomware event , is thoroughly understandable . Email is still the medium most vulnerable to a phishing compromise , or to the danger of using weak passwords . Even today , among the 10 most frequently used passwords is “ password ”. Try inventing an extendable passphrase instead , for example “ do _ you _ like _ pineapple ?”, which can evolve to “ do _ you _ like _ pineapple _ on _ your _ pizza ?” as your easy to remember passphrase for next year . Two-factor authentication also helps with secure access , as staff can accidentally leave the “ fire exit ” open to dark web vulnerabilities that really require a systems “ patch ”. There are still differences in the implicit security between Mac and Windows computer systems . E-Invoicing is the latest trend , sending free emails with PDFs attached , easing the burden of 1.2 billion invoices sent each year , and thus speeding payment times to improve cash flow and prevent insolvency . Did you know that it was the recent introduction of Single Touch Payroll that provided the technical basis for the success of JobKeeper payments ? If the COVID-19 pandemic didn ’ t push you , the latest 2022 Federal budget has financial incentives for small businesses to go digital , get innovative , and be interconnected . As an opportunity risk , you can ’ t afford not to . My final words : find a “ young ” digital native who is platform-agnostic you can trust to give you great financial and digital advice .
JATMS | Winter 2022 | 101