{ <= eZ re en r The future of your business starts today. Staffworks eStaff ‘Australia 5 considered the ‘lucky county’ and continues to boast high wages and high ling standards Compared tothe rest ofthe word In.2017, the National Minimum Wage rose by 53 per cent meaning our minimum vagetzone othe highest in \hile this maybe terfc fr the 23 milion employeesreceving @ Minimurn Wage, such increases ae sure to havea significant impact on mary small Businesses and Small businesses make Up fer over 97% al firms in the Aust cof total employment, nowever many encounter operational challenges which consequently laads to higher failure rates than larger busineseos Bastion ono. * Whatever the motivation of their owners, the sural fate of rmein the smal business sector much lover ‘than tha for rger businesses More smal Businesses have doumszedtnan upszea:n recant years, mace, Up of satemploed il ho Spay Intention to expancs it firms with 1-4 employees that remote keh to employee aff and grow Send mors oftheir productive tims doing medial tasks, ‘comping ih regulations, managing ash flow ot SSjum emplayment evs when busess Secines The to of recasting Rute dean ten ore ‘ipectationsfortuture demand Several factors may affect the degree to which small Businesses are mre or ee fward ooking than anger businesses Iratving thai behavior end owners tend ta be Nighy fuleing, hing and investment decisions preamptively Essa on thar expectation for future dernand fr ter Ey Wensle choices or frm that are mare ainerabe Ehalenging to compete seus lager business but ‘wile achieving sal in smal business may be citicut itis possbie to attain loner average conte 6 adoting femtegies that reduce the subafntve. cots ula ‘Rog cae” ager, sce say Today, tachnologcsl Innovations and. changes in Consumer stuces ae rung the shift n the way flrs Business tobe more compattive and profitable