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Business benchmarking is a powerful tool used by managers to help answer questions such as:

-does your business achieve the same level of profit as other businesses in your industry?
-does your business spend too much (or too little) on rent, advertising and wages?
-is your business performing as well as it should?

Benchmarking data can help you to:

-calculate financial ratios.
-analyse business performance
-compare the results achieved by your business with other similar businesses, and
-conduct a “what if” analysis.

Using a benchmarking approach, you will be able to:

-find out how well your organisation is performing by comparing it to other similar organisations
-measure and improve the performance of your business in key areas such as sales, profit and expenses
-identify the strengths and weaknesses of your business
-highlight opportunities for making your business more competitive.

How are benchmarks obtained?

Business benchmarks are produced from financial surveys of Australian industry and professional sectors. The benchmarking data used on this site has been supplied by FMRC Benchmarking and is the latest available data for these industry sectors. Clients should be wary of evaluating business performance using outdated versions of benchmarking data.

Benchmarking uses prominent financial indicators to evaluate business performance but these are not exhaustive. Many other indicators can be used to determine business performance and clients are encouraged to make use of these in addition to benchmarking. The statistics reported in these benchmarks cannot be considered to be representative of all the enterprises in a particular sector; rather they provide a guide to evaluation of an individual business or practice.

Who do I contact if I would like more information?
http://www.business.qld.gov.au/dsdweb/v4/apps/web/content.cfm?id=3216

It’s not easy to think about ideas as property, but for some businesses it’s vital. Most of us have had an idea for a new product or service only to dismiss, postpone, or neglect it. Sometimes we later find that others had the same idea, but took it to market before we did. By that time, it is too late for us to take advantage of the idea.

Ideas are relatively easy to come by, but inventions are more difficult. It takes knowledge, time, money, and effort to refine an idea into a workable invention, even on paper. Turning an invention into an innovation - a new product accepted by the marketplace - takes a lot of effort and a little luck. There are substantial barriers in the path of those who pursue innovation. Overcoming them requires careful planning and plenty of input from others.

Hundreds of thousands of inventors and innovators file each year for protection under U.S. patent, trademark and copyright laws. However, it can be hard to decide which of the three vehicles is most appropriate for the protection of a particular invention. Although a single product or service may require a patent, a trademark, and a copyright, each category protects a distinct aspect of a creative work or expression.

Patents, copyrights and trademarks, as well as know-how or trade secrets, are often collectively referred to as intellectual property. Many firms have such property without even being aware of it or of the need to take measures to protect it.

Many people’s notions of intellectual property are unrealistic. Some believe, for example, that simply having a patent on a product will enable one to succeed in the marketplace. Consequently, they may spend thousands of dollars to obtain the exclusive rights to market something that no one wants or can afford to buy. Others may decide that intellectual property protection is not worth the trouble.

People who may not be interested in protecting their own rights must still take precautions to avoid infringing on the rights of others. This calls for more than the avoidance of copying. Some copying is unavoidable; but one can easily infringe on the rights of others without deliberately imitating specific features of goods or services.

Source : http://www.lupra.com/
Lupra.com is a non-profit website that contains hundreds of articles about doing business online and many other business-related issues.

6 ways to succeed during a recession (and become a confident and knowledgeable investor)

Bill Zheng reveals smart strategies investors can adopt to stay afloat and succeed in the current downturn

If you’re confused, uncertain and even frightened about the property market in Australia, you’re not alone. Most investors feel that way. They also feel angry and even betrayed.

During most of 2008, property investors across Australia didn’t fair too well, some couldn’t sell their properties at the right price to exit, others couldn’t refinance on a good valuation to get out of their existing mortgages provided by those defunct non-bank lenders. Many developers couldn’t sell their stocks or obtain proper development finance, and you name it.

We’ve seen some relief, in the first few months of 2009 at the low-end property market due to the first home owner grant and lower interest rates. We all know this won’t last, especially when Australia is officially included in the ‘Great Recession’ by IMF.

I believe that in tough times you should revisit your strategy, purpose and assumptions continually – especially when you’re experiencing resistance or frustration of any kind in the accomplishment of your investment and lifestyle goals.

Now more than ever, it’s especially important that you anticipate market shifts, control risk and create powerful strategies that move you in the direction you want to go.

1. Re-position your leverage level on properties

The current recession is mainly caused by financial crisis, a good percentage of the economic growth and asset value have been contributed by over-leverage.  Deleveraging across the world will see credit tight for many years to come, even after the economy recovers.  Hence we will see tight credit markets for at least another 2-3 years if the IMF’s prediction of the global economy recovery late 2010 is correct.

You should consider at least 3 factors when you look at leverage:

1. Return on investment: this is comparing your deposit money sitting in a bank vs. being invested into a property.

2. Safety: this is to avoid negative equity or loan recalls.

3. Your own circumstances: how close you can achieve the ideal leverage level.

Ideal leverage level:

• If residential property prices were going up at 7-10% each year, higher leverage (such as 80% or above) will give you higher return on your capital invested and still relatively safe.

• If residential property prices were to be flat or even slightly down each year, lower leverage (60% or below) will give you a higher return on your capital invested and it is also safer to keep your leverage lower.

In my opinion, our current property market trend is likely to be suitable for 60%LVR or below if your circumstances allow you to do so.

If you must stay at higher leverage, your income should at least allow you to pay down your mortgage principal on a monthly basis.  Because paying down your mortgage is similar to lending your money to the lenders. The lender is paying you the interest rate your mortgage is costing you; you have effectively become a lender.  Lenders make more money than borrowers in a deleverage economy (home loan calculator).

Many people are concerned about lenders recalling their mortgages if they show negative equity.  For most private property investors and homeowners, negative equity will not be the main reason why the lenders would recall your loans.  Lenders would usually recall loans when the borrowers fail to make repayments.

However if you are one of those property investors with a very large property portfolio or run a business with credit facilities with the same lender, you may want to separate the business credit facility from your mortgages and reduce the exposure to a single lender. This can avoid the unnecessary risk of your mortgage being reviewed by the lenders at an inconvenient time.

2. Re-set your minimum cash reserve

Cash reserve is not a new concept to most property investors; most of us know we must have them to cover our rainy days.

How much is sufficient is quite a personal matter, but the general idea is: how many months you would like your cash reserve to last if you experience severe loss of income and overrun of cost at the same time.

• Loss of income can be loss of your job & business income, default of debtors, loss or decrease of investment income such as rent & dividends;

• Overrun of cost can be increase of interest repayment from your mortgage, unexpected expenses.

>>>Read more at Your Investment Property magazine<<<

Republished with permission.

Loan Market is Australia’s fastest growing home finance broker group. With more than 500 Mortgage Brokers and staff across every state in Australia and in New Zealand; securing in excess of $600 million in home finance each month, we bring to you every major residential, commercial and business bank and lender in Australia, along with a wide range of leasing and personal finance lenders and deposit bond providers. Our brokers especially understand the real estate market, and have access to over 400 loans. In fact, it’s hard to imagine a loan we haven’t seen.

Our mortgage broker team has an excellent understanding of the competitive finance market and the right tools, processes, accounting practices, controls, and technology to assist you in finding the home loan that is in your best interest. They are also supported by a knowledgeable and committed team of core staff >>>READ MORE

If you’re looking for some tips on how to “green” your workplace, you may find it useful to visit the ABC’s Green at work  website. You can take a test to see how environmentally friendly your workplace is, or ask a question of the Green Guru.

You can also use the Green at work Tool kit to evaluate your business and to help identify easy ways you can improve your workplace. The Tool kit includes resources such as:

• a DIY guide
• workplace calculators
• quick fixes
• buying green & recycling.

For more information, visit the Green at work website, or contact the ABC on 13 99 94

At REALESTATEGUIDE.COM.AU ‘we are passionate about helping your business grow’

By listing your business and services with a Business Directory Listing or by becoming a Sponsor on Real Estate Guide.com.au you will receive high online exposure for very affordable rates.

Real Estate Guide receives thousands of daily real estate searches with 85% of our consumers arriving directly from a successful search in Google. Real Estate Guide provides lead driven, cost effective Business Directory Listings and Sponsor advertising campaigns for the following Real Estate related services:

• Mortgage or business finance
• Home Insurance
• Investment property products or services
• Buyer agents
• Non franchise real estate agents
• Property developers
• Real Estate media
• Professional services including quantity surveyors, valuers and conveyancer’s

Visit our Business Directory Page to view our advertising packages and current examples of successful advertising campaigns anf find out how we can help your business grow by increasing consumers to your website and services.

You may also visit our Home Page and search our main navigation under Business Directory - see List Your Services

If you are a Tasmanian business looking for information on employment and workplace practices, the Better Workplace kit might be what you are looking for. Created by the Tasmanian Department of Economic Development, the kit provides you with case studies, fact sheets and checklists on topics such as:

• workforce planning
• attracting employees
• leadership.

The kit is available as a PDF, an internet-based tool or on CD-ROM from the Better Workplace website. For more information, contact the Department of Economic Development on 1800 440 026.

Marketing your goods or services as environmentally friendly can be misleading for your customers if not done correctly. The Australian Competition and Consumer Commission (ACCC) has released a guide to help you understand your obligations under the Trade Practices Act when marketing your products or services as “green”.

Green marketing and the Trade Practices Act includes information such as:

• your trade practices obligations
• about making environmental claims
• a checklist for marketing managers.

Download your copy of the guide from the ACCC website or order a copy by calling the ACCC Infocentre on 1300 302 502.

Eligible small businesses only have two weeks left to submit their applications for round three of the Textile, Clothing and Footwear (TCF) Small Business Program.

The program is competitive and merit-based with a maximum of $50,000 funding available for each project. To be eligible, TCF small businesses or consortiums must have fewer than 20 employees, and manufacture their products, or design products for manufacture, within Australia.

Applications close at 5pm (AEDST) on 15 February 2008. For more information and to download an application form, visit the AusIndustry website or phone 13 28 46.