It's out!

Here are highlights from this month's Federal Budget 2024-25 announcements.

Checkout what they mean for you and your Business.

• The instant asset write-off policy has been extended for another year. This allows Businesses with a turnover below $10 million to an immediate deduction of $20,000 per eligible asset.
• The Budget also sets aside $641.4m over the next financial year for ‘targeted support’ to small Business including the above initiative.
• Includes energy bill relief of $325 to eligible small Businesses 
• Investment to deliver and expand the Digital ID System and
• Building cyber resilience, providing free cybertraining for Small Business operators and their staff.
• To help increase the number of Apprentices and Tradies includes funding for 20,000 new fee-free TAFE, VET, and pre-apprentice courses related to the housing sector, and $1.8 million to help fast-track assessment of potential migrants, that may have relevant construction-related qualifications.
• The government has pledged to expand its ‘new energy’ apprenticeship scheme to encourage greater uptake.
• Stage 3 tax-cuts from 1 July this year:Reduce the 19% tax rate to 16%; reduce the 32.5% to 30%; increase the 37% tax threshold from $120,000 to $135,000; increase the 45%  tax threshold from $180,000 to $190,000.

Tax Depreciation, CGT Valuations and What Property Investors Need to Know 

The key point for investors to note is that tax depreciation schedules and capital gains tax valuations still remain important. And under the new proposed tax system, they will become more important given the announced reforms to the 50 per cent capital gains tax discount and negative gearing changes. 

Negative Gearing changes and its impact on Investors, fall under three groups of properties. 

With fanfare, the Federal Government announced on October 1st that it has expanded the 5% deposit scheme.  The rules for the First Home Buyer Guarantee now allow eligible buyers to avoid lender's mortgage insurance and to purchase a property with just a 5% deposit.  And for those previously excluded, the strict income caps will now disappear, providing an opportunity for more potential buyers.  

A win for first home-buyers! Alas no! 

As many of us who have been around longer will know that historically, politically driven economic policy that throws incentives or cash into the property market has led to property prices increasing. 

Already this is happening.  

What it is, how it applies and what you need to do as an Employer!

 What is Fringe Benefits Tax?

• Fringe Benefits tax (FBT) is a tax paid by employers on certain benefits provided to their employees, or to their employees’ family or other associates.
• FBT is separate to income tax. It's calculated on the taxable value of the fringe benefit.
• As an employer, you must self-assess your FBT liability for the FBT year (1 April to 31 March). If you have an FBT liability, you must lodge an FBT return and pay the FBT you owe.

 What is a Fringe Benefit?

A fringe benefit is like a payment to an employee, but in a different form to salary or wages.

There are different types of fringe benefits. Examples include:

• allowing an employee to use a work car for private purposes
• car parking
• paying an employee's gym membership
• providing entertainment by way of free tickets to concerts
• reimbursing an expense incurred by an employee, such as school fees
• giving an employee a discounted loan
• giving benefits under a salary sacrifice arrangement with an employee.

Not a Fringe Benefit.

Examples that are not fringe benefits are listed on the ATO website.

Who receives Fringe Benefits?

It's that time of the year again, Tax-Time it's just around the corner.

Don’t put it off or file it in the too hard basket, start now with our,

6 Top Tips!

1. Getting ready is about getting your ‘house’, Business in order. Start by organising your paperwork.  If you have a 'shoe-box' or bottom drawer full of unsorted papers now is the time to start sorting and filing.   

2. A stress-less tax time is all about good record keeping. You need to account for every dollar that comes in and out of your Business! Make sure you have the ‘evidence’ to back your claims!

3. Missing copies of claimable receipts or expenses records, follow-up now to avoid panic later.     

4. Working from home, remote flexi arrangements, keep copies and record any related expenses for 'end of year' deductible claims. 

5. Have you checked if there are any Government incentives and initiatives for small Business?  Have you received any concessions? If so, are there reportable implications!

6. Do you have any questions regarding your Taxation obligations, not sure what a legitimate claimable expense is or are needing help with bookkeeping, payroll systems and processes! Contact Blackburn Accounting, we are 'Your Family Business Specialists'.

 With the ‘silly’ season fast approaching and the Festive and traditional Christmas celebrations already in coffee conversations, and decorations, tinsel in shop windows, now is the time to start planning and preparing.  

If you are trading during this period now is the time to create and activate your Marketing Campaign.  

Importantly, Get your Business House in Order, Sales and Customer ready 

Checklist!  

Tick the 8 boxes below to see how ‘ready’ you are! 

1. Be and stay organised:. If you are opening or closing during this period, don’t leave things to chance or memory. Make a Checklist/ Action Plan to ensure everything is covered and everyone is onboard. Examples such as advertised Trading hours, sales targets and payroll needs. Simple steps that help reduce stress and drama! 

2. Check Inventory levels: Take stock of all goods, look at previous years and current demands to gauge needs. Identify your best sellers, popular items! Critically, speak with your Suppliers to make sure your orders are covered. Other companies will be in the same situation so get in early. 

3. Staffing needs. Rosters, holiday leave, peak period coverage. Prepare asap. For example, do you need to train new staff, are experienced Team leaders available and do you have backup. This can be a stressful time. Take care of your employees with rewards, downtime and some festive activities to keep up morale. Who doesn't love Secret Santa! 

Starting on the right foot, it’s critical if you are competing in the 100 metre sprint and equally critical if you are a small Business owner. 

As we begin a New Year there are actions small Business can take to compete in the race and achieve the success they desire in 2025. 

Get started with these 7 Actions 

1. Prepare, Plan for Success. 

Schedule a Strategic Planning Day. The Team is returning refreshed, now is a good time to harness renewed energy into creating a Strategic Plan and roadmap. A Plan that can direct and inform all members. Importantly, with their participation it has buy-in from the entire Team. Buy-in, that provides the greatest chance for success with everyone starting off on the ‘right foot’. 

2. Check your Cashflow 

Is your cash flow flowing or has it drained away during the festive period? Take action to replenish and fill any capital holes. Speak with your accountant or financer if needed. Importantly, contact your creditors, arrange payment plans and negotiate extensions with your Suppliers. Be upfront, don’t avoid or put it off before acting. Need help, speak with Blackburn Accounting we offer a range of services which include Cashflow Management, Family Business Management and Business Development. 

3. Review your Products and Customers. 

Review your revenue and gross profit. What are your popular lines, best sellers? What are sleepers, do you need to make changes! Add, improve, keep, discard!  

Review your customers' buying habits, consult with them, seek feedback. Value their input. These actions can help in determining your focus in 2025. This is also a good time to consider pricing. Are increases needed. It’s vital you keep on top of this during cost-of Business pressures and a challenging operating environment. 

November is the month of opportunity for planning to gain increased sales. 

Attraction to the November Black Friday and Cyber Monday events has seen recent record sales and this month also heralds the lead into Christmas gift shopping and summer holiday, traditional Boxing Day sales.

 According to a recent survey, the ‘Christmas tills will be ringing’ despite the current economic climate.  Shoppers will be more frugal with cost-of-living pressures impacting but are still ready to buy.'  

Whatever your Business if you want to get your share of revenue, follow these Tips. Increased sales equals increased revenue and who doesn’t want that! 

 It starts by understanding WHY November planning is crucial for Sales Success 

Simpy said, with a range of opportunities you can't afford to miss out. Think strategic and back with sound planning and preparation to capture and gain market share.  

It’s a must-have essential item, fundamental to best Business practice. It’s not an accessory, something nice to have, nor, should it be ignored or tampered with! 

Good governance applies to a wide range of organisations, including private companies, public sector agencies, local councils, family business and charities. The structure of your Business will determine many aspects of governance. 

Good governance is not something that only big business should worry about. Good ‘professional’ governance is crucial for any small Business if it is to survive. 

Simply put, strong corporate governance helps improve decision-making, reduce risk, and help build a foundation for sustainable growth and a positive reputation. It’s your internal system of checks and balances, a framework supporting and safeguarding stakeholder and your Business interests. 

SME’s unlike large enterprises with a full Board of Directors, may instead rely on external consultants, or advisory boards but still with the same objectives, that leadership decisions support the Business ‘health’, satisfying all legal requirements and moral obligations. 

7 Key ingredients for effective governance are 

1. Clear Roles & Responsibilities: It starts here. Everyone involved in the Business should know and understand their responsibilities, what that means, and where their authority starts and ends. Importantly, their legal and ethical requirements and obligations.  

2. Decision-Making: the processes must be transparent. Document how key decisions are made, by whom and why i.e who has authority, who is responsible, who can sign and where decisions are recorded. There should be a clear and open path for all transactions. 

3. Ethical Conduct: adopt and implement clear codes of conduct (written & unwritten), to inform and guide behaviour. Promote and educate parties concerning matters such as conflicts of interest. Take these steps to foster and build a culture of integrity. 

How often have you acknowledged and even praised the qualities of a ‘good’ Leader? You may be one yourself. If so, you will recognise the following attributes. 

Good Leaders lead by example, inspiring and motivating their Team with their words, actions and behaviours. They are team-oriented, proactively developing and empowering their staff.  This collaborative leadership builds trust, fosters growth, and produces positive results. Integrity and organisational transparency are also characteristics of good leaders. 

On the other hand, poor Leaders are bad communicators, lack accountability and have unrealistic vision. Without clear direction, focus, or purpose, they fail themselves and the Team. Poor Leaders make poor decisions, often blaming others for their mistakes.   Micromanagement, inflexibility and favouritism are also features of poor leadership. 

Example: Good Leadership 

Belief, conviction and willingness to take risks are traits of good leadership demonstrated by Maile Carnegie, Managing Director, Google Australia. Anticipating, striving for change and development are key to this role, which she fills with enthusiasm. She is taking the initiative to drive Google forward into the future.  The future she believes, is what you make of it and not simply accepting what might fall your way. With these qualities, Maile is considered one of the best bosses to work.  

David Gonski acknowledged for his report on educational reform, is also one of Australia’s most prominent businessmen and philanthropists.

The end of financial year has come and gone! 

With the start of a new year, it’s time to take stock of your Business. 

This is your opportunity to plan and prepare for a fantastic year ahead.

Take the time to review, refresh, and re-set your goals! And take the steps to shape your new financial year so you can look forward to celebrating future accomplishments and successes. 

Let’s get started, READ ON, 

7 Strategies to help you plan for a great year! 

1. Start by reviewing your finances. Importantly look at how much income was received and where it went. Major spends, costs for subscriptions, fees and similar charges. It’s knowing the ‘ins and outs’ of your Business activities. 

2. Organise your Records. Adopt sound Accounting practices and keep accurate records of all transactions for reporting purposes, audit and tax obligations. This process is essential to provide real-time of how your Business is performing and demonstrate your financial position. 

3. Cash-flow forecast. Every ‘successful’, profitable Business needs to keep its cash-flow healthy and flowing. The key is to closely monitor performance along with forecasting, projections and actuals. This process allows you to plan for possible shortfalls.  

4. Time-Saving methods. Time poor is the challenge for most Business owners but there are some small steps that can help you free up your time. Setting deadlines, realistic times for important tasks, prioritizing, and delegating when you can are some strategies. Also examine your practices around handling mail and emails so you are not multiple responding. 

5. Technology is your new best friend. Seek ‘tech’ expert help if needed to explore if and what systems or processes can help you better manage and grow your Business. For example, HR software and automated or improved equipment can provide time and cost savings. 

6. Review goals and raise spirits by celebrating your own and team's achievements for the past year. Plan ahead, revisit and reset goals to set the scene and expectations with team for the coming year. Get buy-in, by bringing the group together with Workshop Planning activities.   

7. Engage an Accountant. Take the worry out of managing the numbers and books and tax matters. Speak with Blackburn Accounting about your Business needs, we are your family Business specialists, offering a range of services which include Family Business management, Cashflow management and Business development. We can help you plan for a Happy New Financial Year! 

It's a well known and followed mantra ‘healthy body, healthy mind makes for a healthy life and happiness. Those adopting this winning formula, will say it's a combination that can lead to a more productive and successful personal and Business life.  

By adopting healthy habits Smart Business operators enjoy the many benefits this regime offers. They reap the rewards of feeling 'good', more energised, are better able to face challenges and enjoy quality of life in personal and Business activities.  

On the other hand, poor health due to unhealthy eating choices, little sleep, lack of exercise, extreme work demands, and high stress levels are the recipe for poor performance and outcomes. 

With the new year high on the list of Resolutions or similar affirmations is the popular aspirational goal, ‘to get fitter, healthier and be successful’. But this is followed by the critical question, ‘how and what does it take to achieve those outcomes!’. 

The key is adopting healthy habits, let's look at what this takes, what are the benefits and how we can get started.  

5 Steps to create a better you, a better life! 

1. Understanding the connection between physical and mental well-being

This is the relationship underpinning overall well-being and quality of life. A healthy body helps maintain an active mind and a healthy mind can help handle stress and make good decisions. A healthy mind includes psychological, emotional and social wellbeing that affects how you feel, think and act. It works in unity with your body and influences how you manage stress, make choices and relate to others. 

Are you living a healthy lifestyle?  

Think so! But what does that really take and look like? 

Living a healthy life means being active on a regular basis, eating nutritious foods to fuel your body and having a work-life balance.   

And understanding the connection between physical and mental health is critical. This relationship underpins overall well-being and quality of life. 

Next, take the step, assess your healthy lifestyle. 

6 Questions to ask Yourself to be a Healthier You. 

1. Are you eating well balanced meals? This is about meeting dietary requirements, daily intake, from the recommended essential food groups. Good nutrition fuels your body, builds energy levels to boost productivity and better concentration. If you are consuming lots of processed foods most likely you will feel more tired than usual.  

• Check how well do you eat from the 5 Food groups. Click, https://www.healthywa.wa.gov.au/Articles/J_M/Maintaining-a-healthy-lifestyle/Healthy-Eating 

2. How much water do you drink daily? It's essential to consume sufficient amounts throughout the day to hydrate bodily function. Water is part of a balanced diet, winter or summer we need to replenish our levels. Check your intake regularly to maintain hydration levels and ideally, avoid high sugary drinks.  

• Check your recommended requirements, click, https://www.healthdirect.gov.au/drinking-water-and-your-health 

3. How often do you engage in moderate exercise? How many hours do you sit each day? At a desk, in the car on the couch! Compare that to active movement, steps and walking. Undertaking regular physical activity is vital to maintain a healthy mind and body weight and in preventing chronic diseases. 

• Check, to calculate your activity needs, click, https://www.healthywa.wa.gov.au/Articles/J_M/Maintaining-a-healthy-lifestyle/Active-Living 

4. How balanced is your work-life balance? We know being stretched, pulled and torn between work and personal life demands can cause problems including stress-related issues. Managing both by adopting stress management practices can greatly improve your quality of life. Taking care of yourself such as scheduling time out, time with family, pets, taking up a hobby, reading and relaxation techniques are proven de-stressors. 

• Check Stress, key facts, indicators, resources & supports. Click, https://www.healthdirect.gov.au/stress 

• Need help managing your Business affairs Blackburn Accounting offers a range of related services. Let us take care of business matters to ease your workload and pressures. 

5. How many hours of relaxed sleep do you usually have? adequate sleep is needed to rest the body and brain. Sleeping well keeps everything in tune and allows your ‘body and brain batteries’ to recharge. Insufficient sleep and chronic sleep deprivation comes with a list of adverse effects. 

• Check Sleep, Facts, needs and related information, click, https://www.healthdirect.gov.au/sleep 

6. Do you have opportunities to connect with others? Humans are social beings that need meaningful contact with others. To be a part of and feel included. Reach out!  Chat with a neighbor, volunteer, join a committee or book club. Researchers have found social isolation and associated loneliness can affect our ability to think, our self-worth and immune systems. Social connection can be a powerful therapy. 

• Check feeling lonely or isolated, there are ways to help overcome this, click, 

https://www.healthdirect.gov.au/loneliness-isolation-mental-health 

 How did you go with your assessment?  

Did you find any areas for change or improvement? 

Do you want to be a healthier you, live a Healthy lifestyle?

For more information go to; https://www.healthdirect.gov.au/healthy-lifestyle 

Speak with your Health professional if you have related questions or concerns about any health issues. 

Let’s embrace 2025 with a warm welcoming, 

 ‘Hello New Year, Hello to New Beginnings’!  

It’s a powerful phrase, creating images, ideas, and thoughts offering ways to create a better, brighter future. And who doesn’t want that!   

Do you believe in the power of making a fresh start?  

If you answered yes, most likely you are already planning, expressing hopes and promises to make changes for a better you and a better coming year. 

But if you are still pondering consider this Guide,  

Starting Afresh 6 Steps to achieve the outcomes you desire. 

1. Letting go of the past, looking back with no ‘what ifs’ or regrets..  

2. Positive Reflection, learning from previous experiences. What worked, what didn’t. Know your strengths and weaknesses, consider areas for improvement. 

3. Be open to change.  Embrace, be willing to challenge your beliefs and perspectives, see new opportunities; consider other’s viewpoints, ask questions,  

4. Embracing development and growth. Adopt a growth mindset and belief you can grow through effort and continuous learning.  Learn from mistakes; take on new challenges.  

5. Embarking on a new journey. Set goals that challenge you and provide a sense of purpose and direction. Step outside your comfort zone and embrace new experiences. 

6. Going forward, add a positive mindset and you are on your way to starting afresh!  

Shout it out, ‘hello New Year, Hello New Beginnings’.  

Quotes to inspire us: ‘The beginning is the most important part of the work’ – Plato 

‘The magic in new beginnings is truly the most powerful of them all’ - Josiyah Martin. 

Simply said,  

• embracing new beginnings gives us the opportunity to draw a line that mentally separates the past from the future.  

• By stepping back, reflecting and taking a broader view allows us to picture the ‘new’ that lies ahead.  

• It's exploring new opportunities, new visions and versions of ourselves, both personal and Business aspirations and goals.  

In today’s competitive business landscape, a High-Performance Culture is the cornerstone to success.  

The journey begins with understanding the importance of High-Performance Culture. What defines it, what are the Benefits, and how to build and implement it to achieve success in your Business?

In simple terms, a Business High-Performance Culture is a set of beliefs, values and behaviours that enable a Business to achieve excellent results and high levels of growth.  Both Management and Staff are committed to the principles. 

Key Elements of a High-Performance Culture:

• Clear goals and expectations established
• Effective two-way communication
• Continuous development and learning
• Recognition & Rewards
• Better overall performance 

Why High-Performance Culture Drives Business Success:

• Employees are more engaged, satisfied, motivated and empowered
• Productivity and efficiency are increased
• The environment fosters creativity and innovation and skills development
• Attracts top talent
• Retention rates improved
• Stronger Business agility

As the cornerstone to Success, a High-Performance Culture encourages independence, teamwork, continuous learning and problem-solving, encouraging staff to take ownership in the performance of their roles. Management must lead by example selling a new strategic vision.  

Best Practice for Creating and Implementing a High-Performance Culture:

If hospitality is the name of your game, most likely you are revving up for the festive holiday season, as locals, visitors and tourists embrace warmer weather, longer days and all that has to offer. 

Tis the time of good cheer, good food and good company, with celebrations enjoyed from early breakfast, brunch, lunch and fine dining and more. Of course, accommodation, somewhere to stay comes into this festive holiday equation, along with providing tourism experiences throughout our vast state. 

If you are part of this busy vibrant Hospitality Industry, be it cafe, restaurant, bar, pub or resort, you will be caught up in delivering quality products and services to your customers and clients. Demanding, sometimes challenging, requiring time, effort and the necessary skills best describe the situation.  

Behind the scenes there are still the everyday activities of running a successful Business. Balancing the books, paperwork, reporting, and keeping the cash flowing. Not to forget managing staffing matters and meeting customer expectations. It’s a testing time! 

Whatever your Business, this is where Blackburn Accounting can help take off the pressure to let you do what you do best. We are your family Business Specialists supporting small to medium Business by offering an individualised service. We can help you keep on top of your cashflow, assist in strategic planning and develop your Business capacity for growth and expansion. Take a well-earned break, let us manage the books, taxes and reporting and the behind-the-scenes of running a successful Business. 

It's a reminder the ATO has a number of areas and Taxpayers in its focus this year! 

 Included in their sights using a new data-matching protocol and cross checking system are; 

• work related expenses,
• rental investment property deductions,
• private use of Business assets,
• cyptocurrency activities,  
• ‘side gig’, second incomes gained, such as ‘influencers’.

 Importantly don’t blur your deductions when making your claims!  

Follow these 5 simple Steps to get the best, clearest and correct picture: 

1. Keep accurate records, logbooks and diaries

2. Claim only work-related expenses, don’t mix private and company  

3. Adopt the revised fixed rate of 67cents per hour working from home

4. Know and understand your obligations

5. Contact Blackburn Accounting if you have questions or need professional advice

The probing questions raised by many!

the following offers answers and explanations. 

 For some, the recent inflationary pressures came as a surprise, an unknown phenomenon while for others, those who experienced high inflation in the early 70’s to late 90’s, it was a return nightmare. Like me you may recall those challenging times and bad dreams.

• So, what is Inflation!

‘Inflation is an increase in the level of prices of the goods and services that households buy. It is measured as the rate of change of those prices. Typically, prices rise over a given time.’ This includes commodities such as food grains, fuel, transport and utilities like electricity. And not to forget services for healthcare, entertainment, and labor. 

It will be experienced and viewed differently, positively or negatively, depending on your circumstances, and rate of change.

The Consumer Price Index (CPI) is the indicator used to measure the percentage change in the price of a basket of goods and services consumed by households. 

Simply said, the economic cycle and the interest rate cycle are intertwined and in theory, interest rate changes should follow the economic cycle. For example, The Reserve Bank raise interest rates to slow down the economy and avoid inflation when the economy is growing rapidly, and inflationary pressures are increasing. The situation we are currently experiencing.

• What does it mean to Households, Consumers, Businesses

Cost-of-living pressures, rising prices of everyday goods and services, and declining purchasing power of the dollar are putting a strain on average households, stretching their budgets.  As monetary policy responses kick-in, home buyers, mortgagees face increased interest rates and repayment, while renters have higher costs as housing investors pass on their borrowing expenses. Housing costs are at a new high for a number of reasons, including limited stock (demand and supply tensions).

•   Is inflation something new? No!

Australia’s inflation history since the introduction of the CPI can be broken down into four main phases: (i) The initial post-war recovery and the ‘Korean War boom’; (ii) the disinflationary period from 1953 to 1972; (iii) high inflation from 1973 to 1990; and (iv) the period since the introduction of inflation targeting by the RBA. 

• Snapshot: the Inflation Rate in Australia averaged 4.89 percent from 1951 until 2023, reaching an all time high of 23.90 percent in the fourth quarter of 1951 and a record low of -1.30 percent in the second quarter of 1962.

•  What does it look like!

Most importantly How is this Relationship affecting you! 

Inflation, Wages and Productivity, it’s a push-pull relationship! 

Inflation has surged, prices are rising faster than wages and the measures to counter inflation is hurting many, including Morgagees and Small Business owners. 

Households sinking under the pressure of inflationary cost of living expenses are looking for answers and solutions. What to do, who to turn to!

Small Businesses too are seeking answers on how to survive and thrive during this period.  They are under pressure on many fronts, including;

• With increased cost of goods and supplies how to maintain a profit margin
• Staffing, Wage-price dynamics - responding to demands 

 Inflation affects every area of Small Business, your Business, from the rising price of goods and services to how much your overheads cost, such as rent., to how much customers will pay for your products.  

But, don’t be disheartened, there are answers, ways to meeting these inflationary challenges. Create your healthier relationship with the following!

 4 Ways to Survive and Thrive during inflation:

1. Get your pricing right: Be fair when setting your prices. Customers don’t want to be ripped off. Pricing should reflect the value and quality of products. Adapt your prices as needed to reflect the changed economic conditions. Avoid over or under-pricing. You need to maintain a reasonable profit margin to survive. 

2. Reward your Employees: Reward your staff with fair wages and incentives.  Be creative. Staff will show appreciation with their contribution and extra effort. Encourage upskilling as growth opportunities if ‘monetary’ bonuses aren't an option.

3. Keep on top of your cashflow: Cashflow is the lifeline of your Business. It’s critical to stay on top of what’s going out and coming in. Adopt processes and systems to issue invoices quickly and offer automated payment options. Closely monitor and manage your debtors ledger to get timely payments.

4. Rework your Business Strategy: With changed circumstances now is the time to review, rethink and rework your Business Strategy. Be creative, look at what has changed and what opportunities it brings. Be progressive, consider what technological improvements may be possible and rethink, and look at new ways of doing Business.  Going forward, adapt your Business model to the current economic environment.

What created this situation! 

The high inflation we are experiencing is the fallout of the COVID pandemic and Ukraine conflict. These events interrupted supply in the global economy pushing up prices and costs. Along with this the fiscal and monetary policy responses to the pandemic underpinned a strong recovery in demand that also pushed up prices. In essence the ‘push pull’ of supply and demand!

How do we bring inflation down? 

Influence, to influence or be influenced, has been around since time immemorial! Politics, shopping habits, peer groups and more, we have all influenced, or been influenced in some way, shape or form. 

The difference in today’s society is the advent and popularity of social media platforms, where dedicated Influencers hone their craft of swaying and shaping others’ opinions and decision-making.  

Typically, these Influencers have the power to persuade, affect attitudes, beliefs and behaviours due to their perceived expertise, knowledge and authority.  

They reach new audiences, attract and gain followers, and, with engaging content and messaging, build trust. They can and do drive trends, amplify products, impact decisions, and inspire action. Then, often in collaboration with leading brand names, promote products and services.  Bonanza, everyone’s a winner!    

Types of Influencers and their followers range in size from Mega/celebrity, Macro, Micro, and Nano!  All bases are covered using key platforms such as TikTok, Instagram, and YouTube! 

Key features of an Influencer include:  

• Niche expertise: focus on specific areas such as fashion, beauty, fitness, etc. 

• High engagement: they cultivate an active community of followers, relying on their ‘identity’ and authenticity, rather than mainstream pre-existing recognition.