As an emerging technology, artificial intelligence (AI) offers a lot of potential – as well as risks – for Australia’s agricultural sector. This article details three ways to harness AI that could transform your farming operations. How demands on farmers are changing According to the United Nations (UN), the global population will reach 9.8 billion […]
Australia’s skills shortage and high manufacturing costs mean importing products and parts from overseas can make good business sense. This article is your risk management update on sourcing from foreign manufacturers. Risks of imported products/components Using overseas manufacturers to source parts and products raises these issues: If there’s any issue with the overseas-made product, you […]
As a business owner, you know how important it is to maintain the safety of your work fleet and have clear policies for staff using them. The cost of fleet accidents The social and economic costs of all road crashes in Australia are more than $30 billion each year, according to the Bureau of Infrastructure and […]
Franchising can be a great way to start a business with a ready-made model and resources for a fee. Research shows that four out of 10 franchisees used to work for the franchisor, making it a natural transition. Franchising is a mature sector in Australia, so franchisors are becoming creative in finding ways to expand. Even part-time […]
Wishing you and your families a happy, safe and prosperous New Year. The team at Austbrokers Terrace look forward to welcoming you again in 2024.
Very best wishes from the team at Austbrokers Terrace to you and your families for the festive season.
Is your small business among the one in four that say they’ll go under if faced with a liability claim? That’s the alarming statistic from one insurer’s survey. More respondents said they would: At the crux is understanding the cost of and whether you would be able to fund the costs of legal action due to […]
On this day, we honour and remember the brave men and women who have served and continue to serve countries around the world.
It’s less than a year since OpenAI released its (general) artificial intelligence (AI) app, ChatGPT. Since then, it and its alternatives, have transformed how we do business. Such tech is known as generative AI, a form of machine learning. Trained on a vast database of natural language, it can create content, such as text, code, audio, images, […]
Did you only focus on individual risk factors when you last undertook a risk management matrix for your SME? That’s OK, but the 2023 BDO Global Risk Landscape Report suggests widening your vista to the links between risks. BDO is one of the world’s largest auditing and accounting organisations and operates across Australia. This article explains why you should […]
Revealed – travel insurance costs surging in Australia (Finance expert warns on dangers of ditching the cover)
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