For many buyers, the prospect of buying a business can become daunting when thinking of the handover process. There’s a lot to learn, a great deal of transition and simply not enough time in the day (or at least it seems!). The bottom line is, we live in a modern world fuelled by technology, so whether you’re hoping to sell or not, implementing automated processes within your business could save you both time and money – and who doesn’t want more of those!?

For those who prefer an ‘old-school’ approach to business, where everything is done manually, automating processes and systems can seem a little disconnected and impersonal. But it doesn’t have to be that way. Here are some ways you can lighten the load in the day-to-day running of your business, and in the same breath appeal more attractive to potential buyers who are no longer daunted at the possibility of jumping on board. Knowing that all the procedures are automated and recorded for when the seller has completed the hand over period will be a big plus.

Accounting software – If you find yourself without a dedicated accounts person, sending invoices can be a time-consuming task. Nowadays there are several, reputable products available (such as MYOB and XERO) which can streamline these processes for you. As soon as a payment is received, an invoice is sent – and you can download the report at the end of the week! And it doesn’t stop there, some software can even email outstanding accounts with reminders, all automatically! Sounds like a dream you’d prefer to make a reality, right?
Social media – Although Instagram scheduling is not a mainstream process just yet, third party scheduling tools are already available! The best part, you can you’re your Instagram account to your Facebook page, which means each post shared to Instagram automatically appears on Facebook. Two tasks for the price of one! Just have a Facebook page? Lucky for you, you can schedule posts well in advance on this platform, meaning you can spend a few hours creating engaging content for your followers, schedule it all in for the next couple of months and hey presto! Set and forget!
Email marketing – Want to send an email to your entire contact list but don’t want to address them all together with a combined “Good afternoon all”? Personalisation is key, and when it comes to email marketing, there are plenty of platforms that allow you to do this with the bonus of beautiful designs! Depending on the size of your client list, some (such as Mailchimp) operate as a free service! Schedule your monthly newsletters for a particular date and time and you can operate as usual without having to manually send a single one!
SMS automation – If your customers have ‘opted in’ (ticked ‘YES’ for SMS communications on your contact form), then you can contact them on their mobile. Companies such as Brandbot (another email marketing platform) offer an SMS service, which allows you to schedule in SMS’ to particular clients if they perform particular tasks (i.e. if they make a purchase, or if they haven’t visited in 6 months). It’s important to be aware of your customer’s privacy when it comes to SMS’, and not overdo it. Less is more – so we suggest only contacting them for important things such as sales confirmations or special offers.
Sales funnels – If you run a sales business and have a team operating autonomously under your brand, then using a CRM (customer relationship management) service such as ‘Salesforce’ could be beneficial. Your team can input important client data, such as the enquiry date and details and can follow the funnel process to ensure that customer is managed correctly and efficiently.

We hope this blog helps you on your way if you’re hoping to streamline some or all of your business processes. Whether it’s in preparation for sale, or to simply capitalise on your time, automation can be a handy tool for all business owners. If you are hoping to sell your business in 2020, contact Core Business Brokers on (02) 9413 2977, or email Roy on [email protected]. We’d be happy to discuss your options and any improvements we believe you can make to make your business the most successful it can be.

valuing a business during the Covid-19 pandemic

Core Business Brokers

Valuations in a Covid-era

September 11, 2020 Del

For business owners wanting to sell and people wanting to buy a business, finding common ground when it comes to business value and fair sale price during the Covid-19 Pandemic is a complicated and challenging process.

All of a sudden, 2020 has thrown us a curveball with no previous playbook, and some businesses have been forced to ‘adapt or die’ when it comes to their business model and product/service offering. Many businesses have completely changed things up in order to survive. As an example, Scaffolding companies such as the Sydney company ‘StageKings’ have shifted focus entirely; previously creating large-scale pop-up stages and now creating a whole range of iso-related products such as desks and partitions.

The pre-COVID methods of valuing a business affected in these times, needs re-thinking. Valuers used to assess financial performance, current markets, stock levels, goodwill and more to come to an educated conclusion on what the business in question was worth but primarily based on historical earnings. Now, mid-way through 2020 and amid the pandemic, past performance and current assets no longer determine whether a business can stay afloat, let alone prove profitable in the years to come (i.e. uncertainty is now high amongst many buyers)

So how can businesses be fairly valued in a COVID-era?

Many things must be considered when valuing a business in this volatile environment. Past performance, current stock levels and assets, goodwill and all of the past variables must still be assessed. However, is there a current demand for the product/service being provided by the business during this unpredictable time? Does the market even exist at present? These factors will need to be considered. Remember that a buyer is purchasing the future earnings of the business and the question is has this particular business been permanently affected or was the 2020 year a “one-off” blip?

Thus for many new deals we are finding that buyers and their advisors are suggesting the inclusion of an ‘earn-out agreement’ for part of the purchase price, so that the business can prove that the future earnings have not been impeded.

An earn-out agreement is essentially a legal promise, where a buyer pays less upfront for the business in question, noting that additional payments be made at specific dates in the future if business goals are met, usually with financial targets in mind. This type of agreement can be tricky and somewhat complicated, as it isn’t a clear-cut handover of the business and the previous owner still has their finger in the pie, so to speak. The seller will want the business to continue performing well to collect the buyer’s additional earn-out payment(s), which can become a confusing management situation if the buyer and seller do not agree on key business decisions. The most important thing to consider here is that all important factors be included in the agreement so there is less grey area and a clear separation of roles and responsibilities. That being said, during a pandemic year, an ‘earn-out agreement’ could be a necessary and beneficial tool when looking to sell your business.

If you are hoping to sell your business in 2020, contact Core Business Brokers on (02) 9413 2977, or email Roy on [email protected]. We’d be happy to discuss your options, the potential for an earn-out agreement and help determine a realistic and achievable sale price for your business.

Core Business Brokers

SUPPORTING SMALL BUSINESS DURING THE COVID-19 PANDEMIC

August 17, 2020 Del

It’s no surprise that the coronavirus has impacted us all, in various ways. Whether you’re a business owner, an employee or someone looking for work, you’ve no doubt encountered many speed bumps so far this year, with potentially more to come.

The sad truth is that without our support, small Australian businesses won’t see the other side of this restriction period – with many small businesses having to close under the pandemic pressure. So, what can we do to lend a hand and keep the small businesses we know and love afloat? Here are some ideas of ways we can stimulate their earnings and keep their heads above water.

Buy a gift voucher
If their products/services are something you can see yourself or a friend or family member utilising in the future, support them now by buying a gift voucher or two. The instant purchase may allow them to make rental payments or keep staff employed.
Write them a good review
Google reviews are delayed during this time, but you are still able to write them. So show your favourite locals some love on Google and Facebook. Customers count on reviews to make decisions, so your positive review could help drive new customers their way.
Share their profiles on your social media accounts
Whether you are an Instagram influencer or have 10 friends, think of the positive result of sharing your favourite local businesses with your social media circles. Post, tag, story and share. The more people that visit, the longer your local can survive!
Contact them and see what different products/services they may be offering
Many businesses have adapted during this time, offering different services or products to stay in business and help their community. Some breweries have begun manufacturing hand sanitiser, cleaners may offer a discounted ‘covid clean’ for businesses, your favourite coffee shop may now deliver for an additional fee! Whatever it is, learn about the changes they’ve made and see if you can utilise them.
Utilise their services more often than normal
Before covid-19, you may have decided that ‘eating out’ was a monthly treat. But if you are financially able, why not make it a fortnightly or weekly treat for the coming months. Those few extra visits could make all the difference to a small business.
Tip where you are able
Australia does not have a strong tipping culture, due to our minimum wage being substantially higher than countries such as the United States or United Kingdom. However, if your wallet allows, consider tipping those who are keeping a positive attitude during this unsettling time. It may not be much, but it could really help struggling businesses/employees.
Offer your expertise to lend a hand
If you aren’t able to offer financial assistance, think of ways you can contribute with your skills. Marketing experience could help small businesses advertise their new line of products or services; bookkeepers could lend a hand with organising finances. Why not offer to help in any way you can? There’s nothing stronger than the Australian spirit when the going gets tough.
Be understanding
We live in an ‘instant’ society where things are bought and returned faster than you can U-turn back to the shops. If your service was cancelled due to the pandemic and you are in a financial position that isn’t relying on the refund, consider gifting it to the small business in need. We’re all doing it tough right now, so try keeping an open mind and adopting a team mindset. Not only will it help small businesses, it will boost morale and community spirit.

If you are hoping to sell or buy a business in 2020, contact Core Business Brokers on (02) 9413 2977, or email Roy on [email protected]. Consistently watching business trends and market fluctuations during this pandemic, we can chat you through your options and guide you on your journey.

Core Business Brokers

How to Advertise in 2020

August 10, 2020 Del

Whether you’re looking for new staff, new clients, new customers or even a new owner – advertising is the game. The real question is, do you know how to play? Advertising used to consist of taking out an ad in the newspaper and sitting by the phone. How simple and easy that used to be. Nowadays, advertising has grown to become an intricate machine, where in-depth targeting is used to show your ad to the people who are most likely to respond to it. Sure, an ad in the paper was simple and easy, but with an ageing population, the youth of today are less likely to read the classifieds and more likely to click on an appealing ad when they are scrolling through their social media platforms.

What are the top advertising options?

Social Media

‘Social media’ encompasses a range of platforms. From Facebook to Instagram and LinkedIn, this method of advertising comes with incredible targeting options. These channels allow you to focus on your target market; their location, interests, age, sex, and many other variables to have your ad seen by people who are more likely to positively respond. The downside? It can be a little complicated to navigate. Facebook ads are a fantastic business advertising tool when you understand how to use them, however Facebook may not be an appropriate platform to use depending on the demographic of the target market. If you don’t have a social media expert or marketing specialist in your team, our advice is to outsource this job to an expert. Trust us, there’s no point doing it poorly if spending a little more allows you to reap the results of a professional ad.

Google ads

The phrase “Google it” is popular for a very good reason. It’s the search engine of search engines. If your business isn’t utilising Google advertising, it is likely (unless you have fantastic SEO – a topic we will save for another blog) it is not listed on the first page of Google when you search for your business type. Advertising with Google allows your business to show at the very top of the results page when people search for your keywords. Of course, if you are in a flooded industry in a CBD location, this means you’ll be paying a higher premium, but the return on investment can be huge when your business/products are placed right in front of searching customer’s eyes!

Printed publications

We used newspapers as an old-fashioned advertising example, but that doesn’t mean they are no longer relevant. Depending on the publication you choose, this form of advertising can be extremely beneficial. Things to consider here are target market and cost; make sure to advertise in publications that your target customer reads (usually the more “mature” age bracket) and weigh up the cost of your advertising endeavour. Print can be costly – but if the return on investment is good, then it can be worth every cent.

Tangible handouts

A time-consuming process, unless you decide to outsource this task – flyers, newsletters and business cards are also ways to advertise. An important consideration when creating a flyer or brochure is to think deeply about design and content. Too many words can put people off, a poor design can negatively represent your brand. If you don’t have design flair or a way with words, consider hiring a copywriter or graphic designer to lend a hand. Printing is generally cheaper in bulk, so we urge you to create something that represents your brand and can be used long-term, to get your money’s worth.

Word of mouth

Without a doubt, this form of advertising is the cheapest and most effective of them all. A slow burn, it may not drive sales as quickly as other methods, however, if you work hard to satisfy your customers and ensure their happiness, it is highly likely they will refer you to family and friends, discuss you in public settings and spread the love with Google and Facebook reviews.

Radio & Television

Would your target customer commute to work? What radio stations do they listen to? What time would they generally have free to switch on the tele? These are all questions to ask yourself when considering radio and TV advertising. Choose stations that your target market is attracted to, with time slots that work with their schedules. Radio and television advertising can be costly options, however, if done correctly, can be extremely effective. It’s important to note that if you embark down this path, that quality needs to be a priority. A poor radio or T.V ad is a guaranteed waste of money. Make sure you create something memorable for viewers, whether it’s catchy, quirky, funny or sparks emotion within them. This is key to creating ads that are remembered for months to come.

Advertising is a complex machine, which is why you should consider all of your options and place yourself in the customer’s shoes first. What do they want to see, hear or read?

To discuss your business in detail, contact Core Business Brokers today, on (02) 9413 2977, or email Roy on [email protected]. If we can’t assist with your business advertising, we will guide you in the right direction.

A team of professionals achieving a goal in a healthy workplace environment

Core Business Brokers

CREATING A HEALTHY CULTURE IN THE WORKPLACE

July 20, 2020 Del

Whether you’re a new owner, manager, or have had the same business and team in place for decades, there’s nothing more productive than a positive workplace. On average, each Australian spends 40 hours per week at work (give or take, depending on their role and industry). This means that each of us spends approximately 16 years of their life at work (and we mean 16 straight years of 24/7 work! Wow!) So whether you have changed jobs or stuck with the same business for your entire career, it’s safe to say that creating a workplace that your staff enjoy coming to each day is a pretty high priority when it comes to staff productivity, retention and happiness. If it isn’t, it should be! Let us break it down…

There are certain ways you can improve workplace culture, and some of these don’t cost a cent!

Activities: If there’s one sure-fire way to boost team morale, it’s allowing your team to get to know each other outside the confines of their professional roles. Of course, keeping relationships professional is necessary, but establishing a friendly working relationship is key to efficiency, productivity, and team happiness in the workplace. Why not treat your team to a big Christmas shindig? Or organise a work barbecue in Summer? Aim to host a team event once a quarter and watch friendships grow and workplace teams thrive.
Teamwork: Speaking of teams, embrace teamwork! Highlight the strengths of team members in meetings and delegate specific roles within the teams so your staff enjoy working alongside each other with a common goal in mind. If your workplace is a more autonomous space, why not spice things up with a little Friday team challenge once a month? Get everyone working together in a light-hearted and fun way, problem-solving for a solution, and they’ll forge team bonds for future projects. Why not introduce a prize! Friday winners get Monday coffees!?
Inspiration: Being a positive person in the workplace promotes positivity within your team. Be a YES person, treat people well behind their backs and lead by example. The biggest inspiration for your team should be you.
Atmosphere: Introduce some calming or positive background music to the office or workplace and celebrate your team. Create a business that you would be happy working in every single day. If something feels stale, spice it up! Move the furniture around, add some artwork or special touches to make the space feel more welcoming.
Praise: Constructive criticism always has its place, and it’s important not to praise staff members when it isn’t called for. But when it is? Make sure to recognise team efforts and celebrate team successes. There is nothing more morale-boosting and motivating than feeling appreciated, recognised and needed. It’s a known fact that a cash bonus is a short-term motivator of staff whereas recognition and praise is a long-term motivator. Each can be effective tools to celebrate hard work and efforts within your team.
Conflict: We’d like to believe that a conflict-free workplace is achievable, and sometimes with a little luck, it can be. Other times, stress, workload and varied personality types clash within the team and conflict can arise. It’s important to address these conflicts both calmly and professionally. Extend mediation to the parties involved and allow them to address their concerns in a private area, where they can feel heard and a solution can be created.

We hope we’ve given you some food for thought when it comes to creating a healthy culture in the workplace. If you’d like to discuss your business sale journey, contact Core Business Brokers today, on (02) 9413 2977, or email Roy on [email protected]. Let our friendly and experienced team of Business Brokers guide you in the right direction.

Core Business Brokers

CREATING A BUSINESS DESTINED FOR SUCCESS

July 10, 2020 Del

What came first? The chicken? Or the egg? It’s a little that way when it comes to business too. Do you start with a business idea? Or do you look at the market and see what would work well? For many businesses, it’s the first option. It may be a dream to own a restaurant or a dance studio, so that is the venture they embark on. For many people, this works just fine, as their passion and drive make them successful business owners and other factors such as skill, positioning, competition and luck may contribute in a positive manner.

However, what if you flipped the coin and approached it from the alternate angle? What if you wanted your own business, and instead of going with your heart, went with your head?

This is where certain business owners begin to shine. They begin by assessing the market. They scope the area they would like to place their business and they ask themselves, “what do the people in this area need? What are they lacking?”. Here are some key questions to ask yourself when in the initial planning stages of creating a business that may attribute to future success:

Who lives in the area? How old are they? Are they mostly single people or families? What is the average income?
This will help to determine product line, pricing options and services that you offer. As you may offer families a bulk discount on your product or service as opposed to affluent single professionals.
What businesses already exist in the area? If you are looking at an industry, how flooded is this industry already? Or are there gaps in the market that you could tap into?
You’d like to open a café but there are already 2 on every corner, however, after 2 pm, the neighbourhood falls silent and a little tapas bar could prove very popular!
What do people need in this area?
Similar to point #2, where you’ve assessed what businesses already exist, have a good think about what opportunities don’t yet exist, that would make residents lives easier.
Maybe the local grocery store is a 20-minute drive away and during peak hour is a nightmare to find a parking spot. So, why not open a small supermarket and deli on a residential corner? It may be a little bit more expensive than the larger chains, but it is convenient. People will make sacrifices for convenience.
Is this the right area for my business? If you have your sights set on a particular industry or business style, then find an area for your business that has all of the above points that already suit your business model.
For example, you may want to create a luxury hair salon but you are looking at a low-income area that is predominately families. But 15 minutes up the road in a neighbouring suburb you find an area filled with single professionals. Moving your business here could make all the difference.

If you’d like to discuss your options and see what businesses we have available, contact Core Business Brokers today, on (02) 9413 2977, or email Roy on [email protected]. Buying a business is a journey best undertaken with careful and considerate planning. Lucky for you, it’s what we do best!

Core Business Brokers

CAN YOUR BUSINESS WORK WITHOUT YOU?

June 19, 2020 Del

As part of your succession planning, ensuring your business can operate and succeed without you involved in the day-to-day activity is essential. This allows for better work/life balance whilst also proving to potential buyers that the business can easily be transferred from owner to owner, without disrupting operations and profitability thereby ensuring that the goodwill being sold is not totally dependent on the owner only.

So… How do you create a business that works without you? It involves specific measures put in place to ensure you are no longer required at a fulltime capacity. Of course, it’s worth noting that unless you employ a manager of sorts to fulfil your duties, there will always be work to be done on your behalf. However, the goal is to reduce the amount that your business relies on you and only you. Making it more attractive to potential buyers.

Switch from manual to automated methods

Whether it is email and text communications with your customers, financial tracking, or measuring KPI’s; Find ways to implement automated systems to free up your time, improve efficiency and speed up your processes.

Employ a skilled team with specific responsibilities

Evaluate your current team and their specific job functions. Tweak their job roles as necessary to ensure that all areas of the business are being serviced both efficiently and clearly. Allowing your staff to clearly understand their role is key. A way to plan for potential disruption is to ensure that all jobs can be done by at least one other staff member. This will allow operations to continue if one team member falls ill or goes on leave and thereby reduce any perceived risks.

Upskill your staff

As a business owner, it is sometimes difficult to let go of certain tasks and responsibilities if you feel you do a better job than your staff. The answer to this is to upskill your staff so they are well equipped with the knowledge and skills to perform the task in question sufficiently. This will also give you peace of mind, knowing that tasks are being handled professionally and meticulously. A successful manager is one who surrounds him/herself with people who are smarter than them in specific functions. Such as IT, marketing, sales and financials.

Outsourcing

Related to the point above, if there is a task that cannot be performed by your team, due to time constraints or a gap in knowledge, outsourcing may be the answer. Whether it’s bookkeeping, social media management, marketing or another area of expertise, find someone who can dedicate time to this task to ensure it is performed well, leaving your staff to focus on their roles in the process.

If you’d like to discuss your options and chat through your business succession plan, contact Core Business Brokers today, on (02) 9413 2977, or email Roy on [email protected]. Selling your business is a journey best undertaken with careful and considerate planning. Let us assist you today.

Core Business Brokers

Things You Need To Know About Today’s Market

June 12, 2020 Del

If you were thinking about selling your business earlier this year, you may have found yourself second-guessing your decision in the past few months. Covid-19 has disrupted our world; our share market, economy and every Australian small business has felt the pinch in some way, shape or form.

Being cautious in times of large-scale change and disruption is both understandable and advised, as making big decisions when the future is unknown can be a risky approach. However, as restrictions begin to ease and life begins to return to a version of normality in each Australian state, businesses owners exploring their sale path are now questioning whether this is the right time to do so.

Here at Core Business Brokers, we have found that most sellers put their business sale on hold during the initial disruptions of Covid-19. This was a decision that we supported until we could assess the market and gain further information about the Government’s plans for Australia during this pandemic. Most buyers that were expressing interest in our business listings also pressed pause, extensions were made, and agreements were formed to allow everyone some breathing space and time to absorb and adapt to the changes around them.

We are happy to report that here at Core Business Brokers, our business listings have now resumed. Most Australian businesses are operating at some capacity, whether that is altered services or changes in patron capacity to abide by Government restrictions. Negotiations have resumed and the reasons for buying/selling have returned to the table after a quick hiatus. Buyers need to know that the business going forward is still viable and that future profits can be demonstrated in some way to feel comfortable. There are a few ways that this can be achieved to provide both seller and buyer with the comfort to proceed with the sale.

It is important when embarking on your business purchase journey as a buyer, to review past financials to paint a clear picture of the business’ profitability pre-covid-19 and to understand what ‘normal’ operations look like in the business day-to-day. With this in mind, many of our Sellers have noted minimal negative impact and this has been discussed with interested buyers. We are working with our sellers as to how they will be able to provide a due diligence to confirm that a buyer can rely on the historical financials for the future.

For some businesses, however, Covid-19 has disrupted operations, and this has dampened their outlook when it comes to the sale of their business. Our suggestion for those businesses who have seen a downturn in profitability, a loss in staff numbers, potential closure or other negative impacts is to be transparent with prospective buyers. Instead of focusing on the negative, create a plan and present this to the buyer with steps to implement to return the business to its pre-Covid state. Discuss what you would do if you were to remain the business owner. This will calm the nerves of the buyer and make them feel supported in the process. Again there are a few processes that can be included in a sale contract to achieve this.

It’s worthwhile to note that the Federal Government’s JobKeeper package has been a success in keeping many businesses afloat throughout this time, allowing them to retain staff despite a short-term decrease in revenue. With JobKeeper allowances in place, this can allow a business sale to take place successfully and efficiently during this time – allowing staff to retain their jobs and the transition to be smooth, as the JobKeeper legislation states that eligible employees will continue to receive this supplement, even if the ownership of the business changes (provided the new business owner continues to operate the same business)

If you’d like to discuss your options and chat through your business sale journey, contact Core Business Brokers today, on (02) 9413 2977, or email Roy on [email protected]. We value honesty and experience and will discuss your journey openly, setting realistic expectations and chatting through all options. You can trust Core Business Brokers to set your mind at ease and your business down the right path.

Core Business Brokers

Retaining Staff During a Business Sale

May 25, 2020 Del

Losing key employees during the business sale process could both damage the business before the successful sale is finalised, or potentially stop the business sale from being completed. There are a few main reasons as to why staff leave a business when they hear it is for sale. These include:

Job security – They fear that their job is no longer secure and that they will need to secure another as soon as possible to continue earnings and maintain stability
Loyalty – They have a loyal relationship to the existing owner of the business and do not want to work for another employer
Change – They’ve been wanting a change for some time, and figure this is the perfect catalyst

With the above points in mind, there are measures a seller can put in place to safeguard themselves and the buyer against reasons 1 and 2 above. Let us explain…

Transparency – Staff will very quickly “sniff” out that the business is for sale. To prevent your staff fearing that their job is no longer secure, engage with them early on to let them know of your intentions and that they have nothing to worry about. Any buyer would always need the staff to remain and indeed staff retention may well be an important condition of the sale proceeding. Being transparent about the business sale and letting your team know before hearing about it from a third party is always a good idea, and the staff will respect you for that. Let your employees know they are appreciated and that their jobs are not at risk. This will alleviate any concerns and make them feel both valued and included.
Contractual agreements and/or retention bonuses – Create reasons for your staff to continue their good work throughout the business sale process and into the future, by giving them an incentive to do so. A retention bonus gives them a percentage upon the successful business sale with the remainder to be given at a time in the future. E.g. 30% of their retention bonus is given upon settlement, with the remaining 70% given 12 months later. This incentivises their loyalty to the business and eases any doubts in the buyer’s mind that the staff may leave them high and dry.

It’s always wise to place yourself in the buyer’s shoes when analysing your business in preparation for sale. If something appears to be a risk or a weakness, address that issue immediately so that it doesn’t affect the buyer come sale time. A buyer will want the business to transition smoothly from the previous owner to themselves, with key staff remaining in place with as little disruption as possible. If there is a risk of disruption, this may be reflected in the sale price.

This is the business you built, ran and operated for years. Aim to work hand in hand with the buyer to ensure your business is successful for many years to come.

If you’d like to discuss your options and chat through your business sale journey, contact Core Business Brokers today, on (02) 9413 2977, or email Roy on [email protected]. We’ve got countless years of experience in Business Broking and will be more than happy to get you on the right foot on your business sale journey.

Core Business Brokers

HOW TO CREATE AN ECO-FRIENDLY WORKPLACE

May 12, 2020 Del

As our world continues to strive towards a more environmentally friendly future, reducing your carbon footprint and living a more sustainable lifestyle becomes the goal for many. But how do we make a big environmental change? Can little old me make THAT much of a difference? This is where businesses can lead the way. If Australian businesses made eco-friendly changes to their workplace, think of the positive change they could facilitate! Better yet, by doing so, they encourage each one of their employees to continue those eco-friendly practices in their own day-to-day lives in their homes. It’s a win-win!

So, what are the easiest ways for Australian businesses to create an eco-friendly workplace?

Replace printer and office paper with recycled paper. It may be slightly more expensive, but think of how many boxes of paper your business goes through per week… According to the popular site, ‘Quora’ it takes approximately half a tree to create 10 reams of non-recycled paper. Now think of how many trees your business uses per year. Better yet… go paperless if you can!
Consider the use of electricity in your office. Are computers and lights left on overnight? Could changes be made to still consider safety and security, yet use less power? Suggestions are shutting down computers or using ‘sleep mode’ and using timers for your lights so they don’t stay on for longer periods than necessary in places like communal kitchens and bathrooms.
Implement recycling measures. Does your workplace have compost or recycling bins in place? Cafes can offer used coffee grounds to garden centres for use on their plants, offices can recycle used paper and restaurants can implement a compost system for their food scraps. There’s always an opportunity to reduce, reuse or recycle.
Use environmentally friendly products. When it comes to cleaning, we always want to do a good job around the workplace, especially if we are dealing with food and the public. However, there are many alternatives to the harsh chemicals our parents used to use on hands and surfaces, with some companies even using recycled bottles and jars! Don’t believe us? Check out Zero Co. An Aussie start-up, they are creating eco-friendly cleaning products that are housed in containers built from ocean waste plastic. What a fantastic idea!

The above suggestions are just the beginning. The best thing you can do to create an eco-friendly workplace is to educate your staff on how best to do so. Create a poster and display it in a common area. Allow your staff to suggest ways to make the workplace eco-friendlier and try out their ideas as a team. Big changes are a result of a lot of smaller changes lined up in a row, after all!

When it comes to business, Core Business Brokers are the leaders in their field. Their care and consideration for your business are second-to-none, and with years of experience in the industry – they are the ones to call with your questions and queries. Contact Core Business Brokers today, on (02) 9413 2977, or email Roy on [email protected]. We’re always to schedule an appointment and to chat through your options.