Square Australia share tips on why technology is important
We first started to help small businesses get up and running to accept card payments, so by buying a small card reader this one here, which we recently launched in Australia, you can start accepting card payments within a few minutes. My three tips for small businesses in Australia are, number one, make sure you keep an absolute eagle eye focus on cash flow, over 60% of small businesses fail within the first couple of years, and the dominant reason is cash flow, so make sure you keep an eye on your finances Number two is be prepared for challenging times, small businesses do a face a lot of challenges when they grow, so make sure you’re ready for them Talk to your peers, talk to people who started small businesses, get to know what could happen, so if things pop up, you’re ready for it and you can move forward really easily Number three is embrace technology.
The preview of big businesses is having tools and systems to better optimise their businesses have now been given to small businesses, so for low cost, they can get their business up and running really easily and optimise it. There are my three tips.