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April 2014

Australia-question (1)

Australian productivity down

 Productivity Commission Chairman Peter Harris says in a report that Australia hasn’t been productive in recent years . “Australia’s productivity performance has fallen well behind that of most other developed economies for more than a decade.  Reasons for this, include differences in the rate of investment growth. But the picture painted in the statistics calls for strong policy attention, particularly in the current era where the recent record terms of trade will no longer support continued income growth,” Harris said in a statement. The report focused on three important areas: the effect of price distortions on productivity; Australia’s 2012-13 productivity performance and productivity in manufacturing. Agriculture, mining, manufacturing, utilities and information technology showed the most unproductive trends, particularly businesses of petroleum, chemicals, small wine-makers, artisan bakers and regulated pricing of electricity and water. The agriculture industry productivity fell at 5.8 percent, minging at -4.9 percent, manufacturing at -0.5 percent, electricity, gas water and waste at -1.8 percent and and information, media and telecommunications at 7.2 percent.  However, he said a good sounding policy could effect change. Harris pointed out the current policies of water companies, for example, were forced to invest in more costly sources like desalination and recycling instead of deciding to charge more when there is lack of supply. The chairman said this reduced productivity for the water industry. While economic experts debated that Australia has no productivity problem because of labour productivity, the growth in the industries overall were feeble.  “It’s a global bother, but we are the ones with persistent negatives and that’s a bother to me. Whatever the case, it means we are not doing well enough to justify continuing high growth in incomes.”  With the report, the commission sought to call the government to act on the problem through strengthening the labour market and improve […]

How to keep the cash rolling in

As most business owners know, cash flow is the lifeblood of any business. Andrew Graham, national head of business solutions, RSM Bird Cameron, said, “It doesn’t matter what line of business you are in, if you are waiting for payment from customers then you can’t pay your suppliers for more products to sell.  “It is critical that business owners have strategies in place to manage cash flow and ensure there is enough cash in the business to maintain it, and look at ways to grow.” Twelve ways to improve cash flow 1. Consider giving discounts for payments upfront. Some businesses will have a discount window of a month that customers must pay within to receive the discount. This is easier to enforce than a penalty for late payment and is more attractive to customers. 2. Take deposits on products where possible. This ensures that some cash flow is generated upfront and also assists in locking the customers in to completing the transaction 3. Take as long as you can to pay your bills without incurring a late fee. If a supplier gives 30 days, then take the full 30 so that the cash remains in your business for as long as possible. Pay regular suppliers before others as early payments can generate goodwill and improve the likelihood of obtaining credit and hold off on other for the full payment term. 4. Invest surplus funds in a high-interest-bearing account or other financial vehicle. There’s no point having idle money in a business, but just make sure you can get your hands on it quickly if the need arises. 5. Create a cash flow forecast. Know when the money should come in, when it is likely to come in and when you will have to pay it out. Knowledge is power as […]

Stiebel PIC

Stiebel Eltron builds on nine decades of innovation

Picture: The DHCE 50 and 60 instantaneous hot water units from Stiebel Eltron. DHCE water heaters are ideal for a range of commercial and domestic situations and are designed to service single or multiple hot water outlets or low flow showers depending on the in coming cold water temperature and available flow rate for the associated tapware. Three models are available in the single phase range. The DHCE 6/50 and the DHCE 8/50 deliver hot water to a maximum of 50¡C. These models both comply with AS 3498-2009 which covers the heating of water used in places of personal hygiene and allows the machine to be installed without the need for an external tempering device. The DHCE 8/60 on the other hand delivers 60¡C hot water. In facilities suitable for disabled users the mandated outlet temperature is 43¡C, which must be controlled using thermostatic mixing valves. To be most effective, the inlet hot water supply to most valves must be at least 10¡C above the required outlet temperature, making the DHCE 8/60 model an ideal choice. All models feature a low-flow switch that allows the unit to start heating the water with a flow rate as low as 1.5 litres per minute. With an increasing number of low flow tapware available, the DHCE models are ideal water heaters for these taps to ensure that hot water is delivered at low flow rates. Instantaneous electric hot water heaters achieve the lowest levels of water wastage of any hot water system available, partly through their capacity to reduce delivery pipe lengths, and partly through the ability to heat water faster than competing systems. The heaters can be used as a booster unit in commercial installations where there are long deadlegs between a storage heater and any outlets. The water will be warm […]