90 Days Paid Maternity Leave | Elephant in the Office | EP 4


Damn, 90 days of maternity leave? So extra! I think we need to do 90 days leh You wait! Someone replaces you then you’ll see *gasps* 90 days of maternity leave or to be more specific 90 days of paid maternity leave some are very happy about this but some aren’t as excited So why is everyone so obsessed with this issue? First, let’s be clear that Employment Act 1955 has not been amended so the 90-day maternity leave is not enforceable While the public sector has implemented the 90-day maternity leave The private sector is only encouraged to do so So ladies, technically speaking, you can’t sue your boss if they don’t let you take 90 days off *grunts* Side note, Employment Act 1955 is not applicable in Sabah and Sarawak, as they have their own labor ordinances. So what does the Employment Act currently say about maternity leave? You can refer to part 9 of the Act for details But generally, you are entitled to 60 days paid maternity leave, if: you are employed for at least 90 days during a 9-month proceeding confinement and you are employed at any time in the four months before confinement Now, let’s address two big questions How does this affect employers? And how does this affect women? Longer maternity leave increases motivation and productivity among employees This benefit is recognized by big players like Facebook and Google Closer to home, CIMB Bank provides six months paid maternity leave and one month paid paternity leave to first-time parents Profound! However, we can’t deny the fact that small and medium enterprises will feel the burden more. 60% of Malaysian SMEs are micro employers with fewer than five employees While bigger corporations have the financial means, most SMEs would struggle with the added burden. Does that mean we shouldn’t have 90 days paid maternity? Of course not! This is where government policies can play a role There are a few suggestions out there The popular ones are to let SMEs apply for tax exemptions and government subsidies or to expand SOCSO to cover maternity leave These are potential solutions to help both SMEs and working mothers Did you know Malaysia needs more women in the workforce? Women participation rate is only 54% compared to men at 80% This makes Malaysia one of the lowest in the region Despite low participation, female workers are significant contributors to Malaysia’s economy The contribution of female workers increased from 4% of real GDP growth between 2001 and 2008 to 14% between 2011 and 2016 Meanwhile, the contribution of male workers increased from 7% to 13% We have also seen the percentage of women in senior management increased from 24% in 2017 to 28% in 2018 One thing is for sure, having more women in the workforce is good for our economy We also see more women filling key positions in government and government-related organizations From Deputy Prime Minister Dato Sri Dr Wan Azizah to Tan Sri Dr Zeti Akhtar Aziz the first woman to chair Permodalan Nasional Berhad Women play a significant role in Malaysia’s economic growth and policy making and policies like 90-day maternity leave would encourage women to remain in the workforce Further contributing to the progress of our nation Finally, let’s look at population growth Malaysia’s birth rate is declining We are talking about a drop from 4.9 in the 70s to 1.8 in 2018 While we might not feel the effects now we certainly will in a few decades An ageing population would increase public expenditure further increasing the need for a larger workforce Many factors affect birth rate including work culture That’s why we should do our best to support working mothers And a 90-day paid maternity leave is a good place to start Anyway, we would like to use this opportunity to thank all mothers for their hard work and sacrifices Mothers would know that 60 days of paid maternity leave is hardly enough to recover from childbirth and to bond with their children We are here to advocate for better welfare Not only for mothers, but for parents in general We believe paternity leave is also in need of reassessment but that’s another conversation. We hope you enjoy this heavily packed episode Feel free to share your thoughts with us in the comment section Remember to follow and subscribe if you love this series See you in the next episode!

5 winning strategies to improve small business cash flow


About half a million small businesses are
launched in Australia each year. Of those, just over half fail within four years. And
one of the big challenges for small business is cash flow. Getting the money you’ve earned flowing
in to meet your outgoing costs is critical if you want your business to stay afloat. So here are 5 strategies to help ensure you
don’t land in a cash flow crisis that could cost you your business dream In order to get paid on time, it’s absolutely
crucial to have a system in place that makes it easy for your customers to pay you. This can be as simple as making new customers
aware of your payment terms. If you need to be paid within 14 days to keep ticking along,
let your customer know from the outset. Also check that your invoicing system makes
payment terms clear and lets your customer know how to pay you. For example, make sure
you include bank account details or other payment options. Tools likeInvoice2Go for example integrate
with payment platforms that allow customers to pay with credit cards or via services like
Paypal. Once an invoice is sent, make sure you can
easily check when it’s overdue and send reminders when a payment isn’t received. Most businesses go through highs and lows.
Some months can be particularly lucrative while others are more challenging. Check back through your sales and expense
history and look for patterns. For example, you may find that there are specific times
of the year when cash flow becomes tighter. That might be related to the weather, ongoing overheads, the end of financial year or some other factor. Once you understand what times of the year
are your most lucrative and expensive, you can plan to set aside money so you’re not
caught short during the tighter months. Forecasting involves both planning and reviewing.
So set time every month in your calendar to revise your forecasts for income and expenses
so that you know what’s coming. There are 6 key indicators that a business may need funding: The growing pains that come with expansion If you’re turning away new business When current funding reaches its limit If your business isn’t able to meet commitments
– from putting aside funds for BAS to delivering promised stock levels Slow paying debtors and the flow-on effect
that creates And business owners using personal funds Financing can take many different forms. There are short-term options such as overdrafts
and credit cards, but high interest rates and fees can make monthly repayments significant. Small businesses have traditionally found
it challenging to secure funding through established lenders such as banks. That’s changing with the rise of alternative
lenders like Capify that provide quick access to funds so the business can capitalise on
opportunities to grow. As always, try to consolidate any multiple
debts or existing loans. Weighing up the best option for your business
will depend on your specific situation. That may require getting advice from an expert
into what will work best for you. It can be tempting to stock up on items you
need to run your business when they’re on sale. The trouble is, when you invest in things
like equipment, tech or other inventory, that value is locked into something you may not
be able to use for some time. So, while you may be well-equipped, you don’t have liquid cash. Look, if there’s a special deal available,
perhaps buy an extra month’s supply. But don’t get carried away and purchase a year’s
worth of items. Unexpected expenses can cripple a small business. Western Australia’s Small Business Development
Corporation recommends adding 20% fat to your expense forecast… ….and setting those funds aside, just in
case you’re hit with something left field such as the need to replace a piece of important
equipment, the sudden loss of a key customer or some other unforeseen situation. You can compare business savings accounts
on Finder. Your vision may be the heart of your business
but cash flow is the life blood. Keep reviewing and revising – adjust your
expenses, plan ahead if you need some short term financing, and reconsider how (or even
how much) you invoice customers and track payments. We’ve also made a new video explaining how
your business can take advantage of the Australian government’s $30,000 instant asset tax write-off. Click the link below to watch that and visit
Finder for more guides to start or grow your business.

How to take advantage of the $30k small business tax break


Buying equipment for a business can be expensive,
so it’s important that every business owner knows when and where they can write off their
company purchases against their taxes. The instant asset tax write-off offers a way
for you to claim assets your purchase — now up to $30,000 — this financial year rather
than depreciating over several years. It’s a pretty generous scheme designed to
help you reinvest in areas like equipment or stock to grow your business and become
more productive. Here’s how to get the most from it So last financial year, the instant asset write-off
was $25,000. That’s now been increased to $30,000. It’s also been extended to small
and medium enterprises with an annual turnover of up to $50 million (up from $10 million previously). This opens the tax break up to an additional
220,000 Aussie businesses. SMEs that meet the criteria can purchase
eligible assets up to a value of $30,000. You just need to make the purchase and use
the asset for your business before the 30th of June, 2020. Of course, many businesses don’t just have
a spare several thousand lying around, so borrowing is one way some choose to take advantage
of the incentive. We’d strongly caution against buying things you don’t really need,
but speak with your bank or an alternative funder like Capify to find out which assets
they’d consider financing. Any single asset under $30,000 that is purchased
for business purposes qualifies for the asset tax write-off. However, it’s important to note that only
the portion of the asset that is used for business purposes qualifies. Private use portions
are non-deductible. So, if you were to purchase a computer for
your business today for $6,000 which was 75% for business use, and 25% for private use,
you would only be entitled to claim $4,500 of the value of the computer as a tax write-off. And because the total cost of this computer
is below $30,000, the business portion would be instantly claimable in the 2019 tax return. On another note, if a business purchases multiple
assets under $30,000 in the same year, they should all qualify — even if the combined
cost exceeds $30k. Here’s another example to help clarify that
point: you could purchase a company car for $18,000 and a truck for $28,000 both for 100%
business purposes in this year. They would both individually qualify for the instant
asset tax write off in your 2019 tax return. This is despite the fact that the combined
cost of them exceeds $30,000. By the way, the cost of the asset includes
both the amount you paid and any additional amount spent on transporting it, improving
it or installing it for use. If your business purchase is over $30,000,
what’s known as the asset cost threshold, the rules are different. If the total cost of a purchase exceeds $30,000,
it does not qualify for the instant asset tax write off. This is the case even if the
portion of the asset which is claimable is under $30,000. For example, if you buy a vehicle for your
business for $40,000, that’s 50% for business purposes, you are entitled to claim $20,000.
Even though this $20k is below the instant asset write off threshold, you can’t instantly
write it off, because the total cost of the vehicle exceeds the $30,000 cap. So, you will
need to add the $20,000 cost to your small business pool and claim it later. The small business pool is where small business
owners can allocate depreciating assets to be depreciated at a rate of 15% in the year
they are added and 30% in following income years on a diminishing value basis. This is
irrespective of the overall life of the asset. This means that you essentially pool the business
portion of most higher cost assets and claim a 15% deduction in the year you start to use
the asset or a 30% deduction after the first year. However, you can deduct the entire balance
of the small business pool at the end of the income year if the balance is below the $30,000
instant asset write-off threshold. Trade-ins can be tricky.
Imagine you buy a new car priced at $35,000, but get a $7,000 trade-in for your old vehicle.
Even though you only hand over $28,000 for the new vehicle – below the tax write-off
threshold – because the full purchase price of the car is over $30,000, you won’t be
able to claim it in your 2019 tax return. It’ll have to be added to the small business
pool. It’s a fiddly scenario, so make sure you check
the ATO website to understand the rules fully. So that’s the basics of the tax break.
Here’s a quick check-list to recap: 1. If your business is eligible and has purchased
an eligible asset, you can now make a deduction on every new asset under $30,000. The entire
cost of the asset must be less than $30K, not just the business-use portion. 2. The asset can be new or used. 3. The asset you purchased was first used
or installed and ready to use in the income year you’re claiming it in. 4. You must subtract any private use proportion,
which is the proportion of the time that the asset will be used for personal use instead
of business use. 5. To find out more about the instant asset
tax write-off and what purchases do and don’t qualify, check out the government website
and speak with a tax expert for any specific advice. And click below to watch our new video: 5
strategies to improve your business cash flow. It can be tough to take time out when you’re
pulled in so many directions running the business each day. But it pays to take stock of what’s
working and what isn’t. See you there.

A to Z of Back to Basics Marketing – C is for CORE VALUES


Welcome back to my A to Z of Back to Basics
Marketing. Now we’re on C which is for Core Values. Core Values are one of the five building
blocks in my marketing foundations framework, the five building blocks that I believe are
essential for any business to build a strong foundation, not just for their marketing strategy,
but for their business in general. So why are core values important? Firstly, they act
like your business compass, they help to give your business direction. Especially as your
business grows, core values help to give all employees the same sense of direction. It
helps them to make decisions, it helps you to make decisions that are in line with your
core values. Defining your core values helps you to build trust with all of your stakeholders.
So, not just clients and prospective clients, but your employees, shareholders, and the
wider business community. So, when you define your core values, you live by them, you work
by them, you’re therefore delivering on them, which helps to build trust. Core values also
help you to differentiate yourself from the competition. So, it’s not just about the technology
you develop that can help you differentiate yourself from the competition, it’s also about
your people and your processes, and your core values are a key part of that. Those can be
unique to your business, and they’re much harder for your competitors to replicate than
products and services are. Core values also help you to maintain consistency in your business.
So, for example, the messaging that you put out there, on social media or the messaging
you use in sales pitches for example, when everybody has a defined set of core values
it means that all communications follow a similar tone of voice and have a similar message.
Core values can also help you with growth. As a business gets bigger, core values, as
I said, help to keep everybody in the same direction, but they also help you to attract
the right people into your business. So you attract people that align with your values.
Attracting talent into the industry is a key challenge for manufacturers. Now, I’ve already
mentioned that defining your core values, communicating them, and delivering on them,
helps you to differentiate your business. Now, it’s not just about offering differentiation
for the customer, it’s also about being different in the eyes of potential employees as well.
Because you want them to pick you over going to your competitors for a job. So, it’s not
just about attracting the right customers, it’s about attracting the right talent. To
watch the rest of the videos in this series A to Z of Back to Basics Marketing, simply
follow the hashtag AtoZBack2Basics.

Report in Short: Small business matters


SMALL BUSINESS MATTERS How relevant are micro and small
enterprises for the future of work? And what about the self-employed? Until recently,
relatively limited worldwide evidence was able to answer this question. So in order to tackle this challenge, the ILO has created a new database, based on national household
and labour force surveys from 99 countries across the world. What we wanted to discover
is where the jobs really are… and because these surveys
target people rather than firms, we were able to capture what is usually excluded
by typical enterprise surveys such as self-employment,
micro enterprises, agriculture and the informal economy. We discovered that
“small economic units”, which are basically enterprises
with up to 49 employees, account for the largest share
of total employment, a staggering 70%. In low income countries, in fact,
the smallest economic units – the self-employed
and micro enterprise alone, make up approximately
90% of total employment. To our knowledge, this is the first time
that the employment contribution of the self-employed,
micro and small enterprises has been estimated for such
a large group of countries – in particular, for low- and
medium-income countries. And what about informality? Well, across the 99 countries
in our sample, 62% of total employment is to be
found in the informal sector. So, while the contribution
of small economic units to worldwide total employment
is very important, they unfortunately also
face big challenges such as widespread informality, gender pay gaps, low productivity, and worse working conditions. Understanding the reality faced
by these small economic units and then systematically
and strategically addressing those challenges is therefore key
to employment creation, job quality improvements
and the overall future of work. Do you want to know more? Check out the new ILO report
“Small Matters”… because actually, it does!

Video Marketing – The Future of Marketing | Yellow Video Production & Marketing Programme


Video Marketing – The future of Marketing UK spending on online video marketing now exceeds spending on televsion advertising 38% of google search results include video Websites with lots of video content are found higher in search results Websites with videos hold visitors 2 minutes longer Adding the word video in email subject lines increase open rates by 7-13% 52% online video ad viewers take action 16% make video marketing purchases YouTube is the 2nd largest search engine in the world 1.2 billion videos are streamed on youtube Facebook – videos are shared 1200% more often than text and links combined Video Marketing The number of people watching videos on tablets has grown by 110% And mobile devices 87% 59% of senior executives would rather watch a video than read text 1.8 million words equates to one minute of video Video Marketing Video Marketing – The future Even Wikipedia are going to to start using video Website visitors are 64% more likely to buy a product or service Video Marketing What are you waiting for?

Why BMO Business is focused on tech, women-led, and indigenous business | World Finance


Dev Srinivasan: BMO focuses in on a broad
group of clients; however there are three areas that we’re really focused in on, and
aligns really well with our purpose, which is to grow the good in business and in life. The first area would be technology and innovation. Toronto and Canada in general is really a
growing tech hub. Toronto, Ottawa, and Montreal were three of
the fastest-growing technology hubs in the world in 2018. This is a hugely important segment, and it
is an area where we’re focused in on serving clients across the broad spectrum of their
needs. We’re able to deal with venture capital companies
that are really the life-blood of the tech space, as well as private equity and the companies
themselves as they go public and grow faster. Second would be women in business. Women-owned companies are growing faster than
the overall market, and female entrepreneurs represent 60 percent of new business started. It’s a hugely important population, and we
want to ensure that we’re supporting all groups. And if you look at our growth within the bank,
we’re actually growing women-owned businesses at about 30-40 percent faster than we are
male-owned businesses. So it’s a great opportunity for us to do well
in the community, and also do well for our business. And then finally indigenous banking – a hugely important population in the Canadian economy. BMO has served indigenous communities since
1992 with a dedicated team. This team really partners up with the communities
in terms of understanding their unique needs, and ensuring that we’re delivering the services,
the guidance, the expertise that is needed to help those communities thrive in a challenging
environment. Women in business, indigenous banking, and
technology and innovation; very disparate in a lot of ways, but the common thread that
ties them all together is the benefit that they bring to the Canadian population, to
the community. And also the huge opportunity it represents
from a business perspective. And that is one of the major reasons why BMO
is focused in on this space. Thanks for watching. Learn more at bmo.com/business. Click now to learn more about BMO’s mission
to ‘grow the good in business and in life,’ and please subscribe for the latest international
business insights from worldfinance.com

How to Manage Employee Absenteeism at Work | Employsure Animation


Repeated employee absences can be frustrating and difficult to manage clear communication is key to resolving the issue, as an individual may be experiencing bullying or discrimination at work or they may have a serious illness whatever the reason for absence there are four steps business owners can take to reduce absenteeism Document company policy on leave and absence in the employee handbook and ensure all staff are aware of the details Enforce the policy fairly and consistently Record and monitor leave to identify any patterns or high absences Conduct training for both managers and employees on leave policies and potential outcomes of non-compliance If an individual continues to be absent
without proper explanation the next step is to arrange an informal meeting to discuss the employee’s health and welfare This meeting must include an opportunity for an employee to tell their story with a support person present if requested if the issue cannot be resolved or if it continues without proper explanation employers may consider starting a formal disciplinary process to resolve the issue for more information about how to conduct a
formal disciplinary meeting or for advice on managing absenteeism Speak with Employsure today

What can I do to expand my tourism business into Europe?


What can I do to expand my tourism business
into Europe? (Internationalisation) What is Internationalisation? A set of activities
that any business develops outside their “natural” geographical markets. How to plan going international? three strategic
dilemas: What markets should I enter?; What market penetration strategy is to be carried
out?; With what type of organisation should we enter? You need a strategic plan: analysis — risks
and opportunities. And an international marketing plan: Guide
to foreign market adjustment – New market penetration strategy and new market operating
strategy Franchises: The transfer of the trademark,
name, and know-how to a foreign company for a specified time
Joint venture: Creation of companies by two or more companies from different countries
for the joint development of an activity Strategic alliances: Companies who usually
compete, team up (with a cooperative agreement) to enter new markets or achieve higher rankings
themselves Management contract: Operational control and
management of a company abroad is done by another. It is a fairly common method in the
tourism sector Acquisitions: A company buys another company
using various methods, so that they acquire control over the said company.
Mergers: Two or more companies, generally of equivalent sizes, agree to join together,
creating a new company using all their resources (assets), and then dissolving the two or more
primitive companies. Takeovers: A company acquires another company
and the acquired company usually disappears. How to choose your internationalisation method.
You must take into account: The specific variables of the destination
country. The specific variables of the destination
country. The characteristics of the sector or area.