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Make your 2018 the best year Ever!

6 Business Ideas and Tips To Make 2018 Your Best Year Ever!

Look back at 2017, celebrate your successes and take the time to look at what business ideas that didn’t quite work and how you could have done them differently. Don’t think of them as failures, as unlike a lot of your friends, you had the courage to have a go. As the saying goes, “you only fail when you don’t try. The challenge is to learn from both your successes and your failures.

Map what you have learned from both and think about what changes you want to make in order to grow in the year ahead. Be bold, clearly define what success looks like for the new year and set audacious and achievable goals.

Your Values are your biggest Asset

Take time to re-assess your values, why you started on your business journey and what’s important to you on a personal level. Put your values to work daily throughout the year ahead. If it feels like we’re walking away from the founding values this country was successfully built on do what Gandhi advised and, “be the change you want to see in the world.” Decide what you really care about and the role you can play in helping make a positive change in the world.

Don’t sweat the small stuff!

It is easy to waste time on small, insignificant, time-draining stuff that will not help you achieve your goals.

Money is not the motivator, it is the measure of the value you add

Every business is obsessed with making a profit and there is nothing wrong with that, but you need to be more focused and ask yourself “What value am I adding to my customer that they will happily reward me with the price I am asking?”

Making a profit critical if you wish to stay in business for the long haul, and Price is the direct measure of the value you add and by having a clearly defined solution to your clients pain or problem.

Just be you, be true to who you are and what your values are

Don’t be a sheep, you created your business because you identified an opportunity in the market.

For the new 2018 what steps will you take to define your brand’s personality, take some time to revisit your values and who you are, what makes you tick, and why you get out of bed every day. Don’t just follow the crowd, be courageous and most of all, no matter what happens be proud of what you have achieved.

Surround yourself with people that can add value to your life and business

Hang around with the wrong crowd and sooner or later they start to rub off on your behaviour. So the opposite has to be true, surround yourself around intelligent people and both you and your business will benefit. Take a successful business person out to lunch and ask questions about how they achieved their success.

You only have a limited amount of time to spend each day so invest it wisely

Time is like money, it is not unlimited and once you spend it, it is gone. Don’t look back with regret, plan your day and make the most of every hour available to you to invest in things that either make you a better person to be around or add value to the thing you are doing, both in your personal life and business.

Be Entrepreneurial, do something new, take yourself out of your comfort zone and back your ability.

Allocate some ME TIME every week, learn to surf, ride a horse, run a marathon, write a book, learn a musical instrument. Just do something. There’s nothing like the excitement and sense of accomplishment that is earnt from doing something completely new for the first time.

And a bonus tip.

Do stuff you will be proud to tell a crowded room someday.

Have a great 2018!

Southern Sydney Business Education Network

Southern Sydney Business Education Network

Southern Sydney Business Education Network (SSBEN) is a not for profit organisation based in Sutherland that has been assisting young people to make successful transitions from school to work, for over 10 years.

We are part of a Statewide Network of organisations building relationships to help achieve better educational outcomes for all young people.

We do this by coordinating over 6000 student placements a year across Sydney with a range of host employers through our Student Work Placement Program, working closely with a variety of businesses across 13 specific industries. Students in Year 11 and 12 that are studying a Vocational Course must complete a one week unpaid industry work placement to compliment their studies.

Many students undertake further training and employment with their host employers after completing a successful placement, and complete their HSC with industry qualifications.

Our vision is to foster a strategic, whole of community approach to improving education and transition outcomes for all young people. We believe in the principle that “it takes a village to raise a child” and therefore work closely with the following four key stakeholder groups:

  • Education and Training Providers
  • Business and Industry
  • Parents & Families
  • Community Groups

If you would like to find out more information about how you can become a host employer and mentor a young person in your work place please contact Nicole Crump on 0424 949 289 or Ziad Mutasim on 0415 437 740.

2017 END OF YEAR NEWSLETTER

Alarming’ trend leaving SMEs exposed

A global insurer has flagged an “alarming” trend among SMEs that is increasing their exposure to cyber crime, even with high-profile attacks such as the one that hit Uber. Ridesharing platform Uber has attracted widespread criticism for trying to cover up a hack that affected as many as 57 million users worldwide. Notwithstanding such high-profile examples, it is the limited resources and supply chains with larger companies that make SMEs the most vulnerable to cyber attack.

The Allianz Global Assistance (AGA), part of the Allianz insurance group, revealed that Australian businesses have a clear disconnect between their intentions and actions around cyber security. According to AGA, more than half (56 per cent) are underprepared should they fall victim to cyber crime, even with the issue being ranked third highest on their list of key business risks. This is despite “a staggering 300 per cent increase” in the number of cyber attacks in 2016 alone.

“It is alarming to see that cyber crime is increasing, yet organisations that regularly review and test IT systems is decreasing: 73 per cent in 2015 to 57 per cent in 2016,” said AGA chief sales officer Brad Smith. “The need for a strong cyber security measure has never been greater.” Such statistics give weight to the theory that hackers are increasingly preying on businesses suffering ‘security fatigue’.

Sean Cunningham of Uber Geeks added that victims of cyber crime – including those of more than 47,000 cyber incidents in Australia in the 2016-17 financial year – often feel powerless, thus having proper processes in place can reduce this sense of powerlessness from adversely affecting the business.

Earlier this year, an accounting tech consultant demonstrated the widespread deficiencies in cyber security frameworks among Australian businesses by hiring a professional hacker who was able to infiltrate 9 of the 10 companies targeted.

An IT Audit can help to protect your business and identify any risks. Local IT provider ‘Motive IT’ have provided this article and offer an Audit service to help inform and protect the local business community. For more details please visit Motive IT

2018 Mandatory Reporting of data Breaches – This means everyone

Until now, data breach reporting in Australia has been largely voluntary. While regulated entities have been legally obligated to take reasonable steps to maintain the security of personal information held, there has been no obligation to notify individuals if their personal information is compromised.

A lack of awareness of such breaches has hindered individuals from taking preventative action against crimes and identity theft by, for instance, cancelling credit cards or changing passwords. With incidents of identity theft and crime continuing to rise at an alarming rate, and stolen data—including PayPal and credit card account details and bank login credentials—being made available for sale on dark web marketplaces, data breach is now considered to be a widespread issue and seriously impacting individuals, businesses and government agencies.

Finally though, after many years of stops and starts, the Privacy Amendment (Notifiable Data Breaches) Act 2017 (Cth) passed the Senate on 13 February 2017 and received assent on 22 February 2018. The reforms amend the Privacy Act 1988 (Cth) (Privacy Act) to impose mandatory data breach notification on Australian Privacy Principle (APP) entities when there has been an eligible data breach. Failure to comply exposes entities to penalties, including fines of $360,000 for individuals and $1.8 million for organisations. We look at the changes the legislation introduces and the implications of these changes for APP entities.

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What is WSIB Accident Assist?

We know how important your car is to you, and a car accident, no matter how minor, can be a stressful experience. However, WSIB is here to help you.

We provide a value-added service called WSIB Accident Assist to ensure that in the unfortunate event of an accident, we will help to put you back on the road as soon as possible. We’ve partnered with Compass Claims, an industry specialist in accident management, to make sure we look after you when you need it most.

How WSIB Accident Assist works

If you are not at fault, our WSIB Assist Team will provide you with a like for like vehicle for the duration of your vehicle repair with no upfront cost. These charges are then recovered by Compass Claims directly from the at-fault insurance company.

If you are at fault, our team can provide a vehicle to you at a preferential rate, or if you have rental cover in your policy, Compass will recover the costs direct from your insurer on your behalf.

What to do if you’re involved in an accident

Simply call our Accident Assist Team on (02) 9587 3500. Your call will be answered by a trained professional who will take your details and commence the hiring of a vehicle process for you.

A helping hand when you need it most – Call our Accident Assist Team on (02) 9587 3500

New Broadband services will impact some security Systems. Are you NBN Ready?

The National Broadband Network (NBN) is currently being rolled out throughout Australia with a progressive implementation planned. The NBN utilises a range of technologies for broadband communication and for the majority of Australia. A fixed line connection operating over the existing copper network will be used in conjunction with new fibre optic technology. NBN is the wholesaler of this new network – once available, you will have a choice of phone and internet providers known as Retail Service Providers (RSPs) to select a plan that meets your needs.

What changes with the introduction of the NBN?

 The NBN changes communications technology to a digital data platform. This will impact upon devices currently used on the copper network, such as telephone landlines, monitored security alarm systems, monitored medical alarms and lift emergency phones. Changes to the current copper line technology mean such devices may not be compatible with the NBN.

What does this mean for you?

 The NBN may have an adverse impact upon existing devices within your home. In particular, devices used for monitoring of security alarms, lifts and medical alarms may require updating to ensure they will function when required in an emergency.

 What do you need to do?

 For monitored security alarms:

  • Contact your alarm service provider to review the current technology used and update equipment that is not compatible with the NBN;
  • Discuss the type of NBN service plan required to operate with your security alarm system;
  • Consider moving the monitoring of your security alarm system to alternative technology, such as the mobile network (3G/4G, also known as GPRS).

For lift emergency phone lines and monitored medical alarms:

  • Register your lift emergency phone service with the NBN by providing the correct Full National Number (FNN);
  • Register your monitored medical alarm with NBN.

Contact your service provider to migrate to an NBN-compatible solution.

2018 Mandatory Reporting of Data Breaches

Get Ready – 2018 is set to be the year for mandatory reporting of data breaches

 

Until now, data breach reporting in Australia has been largely voluntary. While regulated entities have been legally obligated to take reasonable steps to maintain the security of personal information held, there has been no obligation to notify individuals if their personal information is compromised.

A lack of awareness of such breaches has hindered individuals from taking preventative action against crimes and identity theft by, for instance, cancelling credit cards or changing passwords. With incidents of identity theft and crime continuing to rise at an alarming rate, and stolen data—including PayPal and credit card account details and bank login credentials—being made available for sale on dark web marketplaces, data breach is now considered to be a widespread issue and seriously impacting individuals, businesses and government agencies.

Finally though, after many years of stops and starts, the Privacy Amendment (Notifiable Data Breaches) Act 2017 (Cth) passed the Senate on 13 February 2017 and received assent on 22 February 2018. The reforms amend the Privacy Act 1988 (Cth) (Privacy Act) to impose mandatory data breach notification on Australian Privacy Principle (APP) entities when there has been an eligible data breach. Failure to comply exposes entities to penalties, including fines of $360,000 for individuals and $1.8 million for organisations. We look at the changes the legislation introduces and the implications of these changes for APP entities.

 

APP entities

State government organisations, local councils and organisations with an annual turnover of less than $3 million are exempt from the Privacy Act. However, mandatory reporting applies to:

  • Australian government agencies
  • businesses and not-for-profit organisations with an annual turnover of more than $3 million
  • private sector health services providers (including alternative medicine practices, gyms and weight loss clinics, which fall under this category)
  • child care centres, private schools and private tertiary education institutions
  • businesses that sell or purchase personal information along with credit reporting bodies
  • some smaller organisations, such as those that handle health data, and
  • individuals who handle personal information for a living, including those who handle credit reporting information, tax file numbers and health records.

 

Data breaches

Data breaches occur where there is:

  • unauthorised access to, or unauthorised disclosure of, personal information about one or more individuals (affected individuals), or
  • where personal information of affected individuals is lost in circumstances that may give rise to unauthorised access or unauthorised disclosure.
  • Data breaches may be caused by malicious intentional actions, such as a serious cyber security incident, accidental loss, loss from negligence or loss from improper disclosure.

 

Eligible data breaches

  • The mandatory reporting provisions apply where a reasonable person would conclude that there is a likely risk of serious harm to any affected individual as a result of the data breach.
  • Serious harm in the context of the reporting requirements may include serious physical, psychological, emotional, economic, reputational and financial harm, as well as any other form of serious harm that the breach could cause to the affected person

 

Notification requirements

An APP entity that suspects or is aware of an eligible data breach must conduct a reasonable and expeditious assessment of the circumstances. Once a breach is determined, the APP entity must notify the Privacy Commissioner, other relevant regulators (such as APRA) and affected individuals as soon as possible. This assessment must take place within 30 days of becoming aware of the eligible breach.

The contents of the notification must include:

  • identification and contact details of the entity
  • a description of the serious data breach
  • the kind/s of information conceived, and
  • recommended steps that affected individuals should take in response to the serious data breach.

 

Outsourcing and third party service arrangements

An APP entity that discloses personal information to an overseas recipient will remain accountable for an offshore eligible data breach, even if the APP entity is not itself responsible for the offshore breach. The entity will be required to comply with the reporting requirements as if it was itself holding the information at the time of the eligible breach.

If more than one entity jointly and simultaneously holds the same particular record of personal information, an eligible data breach may give rise to each entity having reporting obligations. This means that in an outsourcing or shared services arrangement—where one entity may store personal information in an online platform provided by another entity—both entities are “holding” the information in line with the definition under s 6(i) of the Privacy Act and have mandatory reporting obligations.

 

Implications for APP entities

The reforms require an immediate review of privacy programs and protocols to accommodate the new requirements and ensure compliance with:

  • identifying eligible data breaches
  • the investigation process—it must be carried out and completed in the required time frame and all the required information collected
  • the allocation of responsibility for investigations and the determination of the breach in terms of severity and reporting requirements
  • briefing all outsourced and service providers to implement suitable oversight and required investigation processes when a breach takes place
  • the review and possible modification of all service contracts to determine the right of the APP entity to audit compliance with the reforms
  • the review of third party processing and storage arrangements to determine the waterfall effect and, in particular, the contracts that use offshore labour (i.e. call centres and claims centres) or where information is stored and held offshore, to determine if contract amendments are required, and
  • identification of risks and documenting the processes for managing global companies, such as platform providers and cloud providers, who may share storage and therefore hold personal information on behalf the company.

Behind the Scenes at icare

Behind the scenes at icare

 

WSIB’s close relationship with icare has allowed us to obtain information and understand what’s happening behind the scenes. Here’s what you need to know about the claims and premium transitions underway.

Open claims

icare have advised us that CGU and QBE have been notified that the transition of claims has begun. Existing open claims with CGU and QBE will gradually transition to GIO and EML from August to December 2017. All relevant parties will be notified by email of the actual date of transfer. Existing open claims with EML, Allianz and GIO will be processed as usual.

New claims

Up until the 30th September, employers with policies aligned with CGU or QBE will continue to lodge new claims with their respective claims service provider. From the 1st October 2017, their new claims will be lodged with GIO.

After 1st January 2018, all new claims across all service providers will be lodged with EML under the new claims service model.

If you are unsure about any of the above information or wish to learn more about the changes underway, please contact WSIB at our office on (02) 9587 3500.

Policy Management

WSIB have been advised that icare will now be taking on the processing of Actual Wages Adjustments for policies that expired after 29th June 2017. The processing of Actual Wages Adjustments will begin from mid -September.

Through attending a Broker Information “Looped In” session with key staff members from icare, WSIB will have updates on the claims transition and policy management changes happening in NSW Workers Compensation Scheme.

Until then if you require any information relating to the changes in the NSW Workers Compensation Scheme, please contact WSIB at our office on (02) 9587 3500

Government ESL Creates Client Concern

Government ESL Backflip Creates Client Concern

 

The recent decision by the New South Wales State Government to reinstate the emergency services levy (ESL) continues to cause client concerns.

Since the recent decision, our National Insurance Industry Body has met with the New South Wales state treasurer Dominic Perrottet, who confirmed the decision to continue with the ESL on insurance policies and said the Government plans to introduce legislation later this month to reinstate the levy.

This decision is just four weeks away from when the previously proposed changes were due to take place and the Government’s backflip on the ESL has created a number of concerns in the business community.

The Insurance industry reacted with shock and disappointment to the news that the Government had decided against reducing taxes on insurance. With ESL, stamp duties and GST, more than 30% of household insurance premiums and 40% of commercial insurance property premiums go straight to the Government.

In the interim, while discussions continue to establish a firmer position, WSIB are keeping our clients informed on events as they unfold and will ensure you remain our first priority. However we expect a continuation of the current ESL arrangements until the Government makes specifics known in the near future.

What is WSIB Accident Assist?

What is WSIB Accident Assist?

 

We know how important your car is to you, and a car accident, no matter how minor, can be a stressful experience. However, WSIB is here to help you.

We’ve partnered with Indigo Vehicle Solutions to provide a value-added service called WSIB Accident Assist that means we are able to get you back on the road with minimal inconvenience.

HOW WSIB ACCIDENT ASSIST WORKS

Its simple. While your vehicle is being repaired, we’ll get you back on the road in a replacement vehicle.

If you are not at fault, our team will provide you with a similar vehicle for the duration of your vehicle repair.

If you are at fault, our team can provide a vehicle to you at a preferential rates, or if you have rental cover in your policy, Indigo can organise a vehicle subject to your policy entitlements.

To enable Indigo to recover the money, they will require your co-operation. Please ask for more information.

WHAT TO DO IF YOU’RE INVOLVED IN AN ACCIDENT

Simply call our Accident Assist Team on (02) 9587 3500. Your call will be answered by a trained professional who will take your details and commence the hiring of a vehicle process for you.

A helping hand when you need it most – Call our Accident Assist Team on (02) 9587 3500

Introducing Saunders Safety & Training

Introducing – Saunders Safety & Training

 

Warren Saunders Insurance Brokers are very excited to announce the launch of our new National safety and training division Saunders Safety & Training (SS&T).

In keeping with our unparalleled expertise in the complex world of workers compensation we now also have WHS specialists who not only enjoy outstanding reputations within the WHS industry, but also share a passion for safety, injury prevention and a common desire to protect you and your business.

SS&T specialists are available to completely review your current WHS program and identify any gaps or risks and where necessary, enhance or redevelop your WHS systems and procedures to give you complete peace of mind over your risk management program.

Our workers compensation team will also work closely with our WHS specialists to analyse trends and performance across both areas. Outside of payroll, workers compensation premium can often be an employers most expensive cost. An investment in safety can reduce the long term financial burden of rising premiums due to the sensitive nature of premium formula.

That said, whilst management of your workers compensation program remains vitally important,
prevention is key to reduce work health & safety risk, and workers compensation premium.

Should you feel that you are an “at risk” employer, or would like a review of your current risk and safety program, please do not hesitate to contact our team on (02) 9958 9009 or email info@saunderssafety.com.au