Some hospitality businesses are already using Artificial Intelligence or AI. Not all are using it effectively or to its full potential. AI has exploded into our lives and is here to stay, thanks to services such as ChatGPT. All businesses, including hospitality, will be embracing AI to stay ahead of their competitors and retain and grow customers or members.
With generative AI tools taking the world by storm businesses are set to reap many efficiency benefits. It is unlikely to completely replace roles, but streamline processes with quality control of outputs. Data security and trust are the biggest challenges and a comprehensive management plan is key
Key points Social recruitment involves strategically using your online and offline channels to attract more applicants for each role and have a better chance of attracting and retaining top talent. Candidates are more informed than ever due to the amount of information available online. Building a strong presence online requires ongoing commitment across your organisation, […]
The pandemic supercharged flexibility in the workplace, so what now? People expect more flexibility from workplaces today, and companies that don’t have a formalised flexible workplace policy could miss out on attracting and retaining top talent. Companies should consider the flexible work solutions they can implement to address their people’s needs.
Legislation has been introduced into Parliament that significantly rewrites Australia’s thin capitalisation rules with effect from 1 July 2023, with no grandfathering or transitional relief.
Key points Compliance assurance: Regular management reporting helps medical businesses meet strict state and federal regulations, including those under the Private Health Facilities Act and Regulation. Performance visibility: These reports provide clear insights into financial health, operational efficiency, and progress against KPIs, enabling better decision-making and accountability. Strategic improvement: Quarterly reporting allows medical practices to […]
In June 2023, legislation containing new thin capitalisation rules from 1 July 2023 was introduced into Parliament. Broadly, thin capitalisation applies to entities part of multinational groups that incur debt deductions (e.g. interest) of more than $2 million for an income year (on a group basis).
Last month, legislation was introduced to Parliament that significantly rewrites Australia’s thin capitalisation rules with effect from 1 July 2023, with no grandfathering or transitional rules. The new regime will replace the current asset-based test with an earnings based test that limits net debt deductions to 30% of tax EBITDA.
For business leaders chasing productivity, the introduction of ChatGPT in November 2022 could not have been more perfectly timed.
Key points Set clear and realistic borrowing goals, including how much you need, how it should be structured, and what security you can offer. Prepare detailed financial documentation to demonstrate your business’s capacity to repay the loan. Understand lender expectations and tailor your application to meet their risk and return criteria. How to get a business loan […]
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