How to Protect Your Business from 2025's Cyber Threats
7 April 2025
Cybercriminals are constantly finding new ways to trick businesses, and their scams are harder than ever to spot. Small businesses are especially at risk, often seen as easy targets due to limited resources or weaker security. But with the right precautions, you can protect your business and prove the scammers wrong.
Be Aware of New Threats
Staying informed is your best defence. Here are some of the latest cyber threats:
- AI-Powered Scams: Scammers now use artificial intelligence to create convincing phishing emails and fake websites that are difficult to distinguish from the real thing.
- Impersonation Attacks: Posing as banks, government agencies, or suppliers, attackers aim to trick you into sharing sensitive information.
- Deepfake Technology: Fake audio and video messages that mimic trusted sources are becoming more sophisticated and harder to detect.
Train Your Team
Educating your team is crucial. Teach them to:
- Spot warning signs, like urgent requests to act quickly.
- Double-check email addresses and URLs before clicking on links.
- Be cautious with unusual requests, even if they seem legitimate.
Regular training sessions and phishing simulations can help your staff stay alert and recognise scams before they cause harm.
Protect Your Business
Basic but effective security measures can go a long way. For example:
- Enable two-factor authentication to secure your accounts.
- Keep your software and systems up to date.
- Use resources like the Business Online Security Series for practical cybersecurity tips.
It's also wise to consult with your IT provider to evaluate your business’s vulnerabilities and develop a cybersecurity training plan for your team.
Taking action now can save your business from potential threats while safeguarding your reputation. Stay informed, train your team, and strengthen your defences!
It's that time again and Moving Day is upon. Moving Day' is a big day in the farming industry. To help you with a smooth transition here are some tips: Early preparation Make sure sharemilker or contract milker contracts are signed. Plan a farm inspection with relevant parties (farm owner, incoming and outgoing sharemilkers, farm manager, advisor). Recruit and finalise employment agreements for new farm staff. Communicate plans and dates with everyone involved. Contact your insurer and utility providers. Farm owner responsibilities Make sure employees leave the houses clean and tidy. Carry out house inspections for maintenance. Comply with healthy home standards. Confirm departure and arrival times with tenants. Consider drug testing, if needed. Animal movements and biosecurity Plan animal movements carefully. Clean and disinfect farm equipment and machinery. Minimise the risk of introducing exotic pests. About 5,000 farmers do this every year. Talking clearly and planning well makes this important farming tradition go smoothly.
Selling your business is a huge milestone—one that marks the culmination of years of hard work, dedication, and vision. But once the deal is done and the dust settles, you may find yourself wondering, “What’s next?” Exiting your business opens up a world of possibilities. Here are five potential pathways to consider as you embark on this new chapter of your life. 1. Enjoy Retirement For many, selling a business is the gateway to retirement. After years of being immersed in the day-to-day demands of running a company, retirement offers the opportunity to slow down and enjoy life at your own pace. Whether it’s traveling, spending time with family, or taking up new hobbies, retirement allows you to focus on the things that bring you joy. Planning ahead—both financially and emotionally—will ensure you make the most of this well-earned time. 2. Invest in Other Businesses Selling your business doesn’t mean stepping away from the business world entirely. Many people choose to invest in other businesses, whether it’s through buying equity, becoming a silent partner, or supporting start-ups. Your years of experience give you a unique perspective, and investing allows you to stay connected to the business community while diversifying your income streams. 3. Start a New Venture Once an entrepreneur, always an entrepreneur! If you have a new idea or are passionate about exploring a different industry, selling your business can provide the resources and freedom to start fresh. Whether it’s launching a tech start-up, opening a café, or pursuing an entirely new market, starting a new venture keeps your entrepreneurial spirit alive. 4. Become a Non-Executive Director Another pathway is to leverage your expertise and become a non-executive director. Many businesses value the insight and guidance of experienced business people. As a non-executive director, you can provide strategic advice, mentor leadership teams, and help shape the future of other companies—all without the full-time commitment of running a business. 5. Pursue Philanthropy For some, selling a business is an opportunity to give back. You might choose to support causes you care about through charitable donations, creating a foundation, or volunteering your time. Philanthropy not only helps make a difference in your community or the wider world but can also provide a deep sense of fulfilment and purpose in your post-business life. Charting Your New Path Exiting your business is both an ending and a beginning. It’s a chance to reflect on everything you’ve achieved and to embrace new opportunities that align with your goals and passions. Whether you’re ready to relax and retire, dive into new ventures, or make a positive impact through philanthropy, the choice is yours. Whatever path you choose, careful planning will help ensure your next chapter is as rewarding and successful as the one you’ve just completed. If you’d like support in exploring your options or preparing for life after your business, don’t hesitate to reach out us for guidance.
Over a decade ago, there was a lot of talk about a huge transfer of wealth from one generation to the next, with baby boomers retiring and passing on their businesses. But that tidal wave never quite arrived. Many business owners held onto their companies for longer than expected. The global financial crisis came and went, followed by COVID-19, which brought new challenges for businesses worldwide. While there have been many business sales along the way, the expected transfer of wealth didn’t happen. Now, as more business owners approach their 70s, selling or passing on their businesses has become a priority. We’re seeing a rise in demand for help with succession planning for family businesses. One important lesson applies to every situation: starting early and giving yourself enough time to plan is key to a smooth transition. What Is Succession Planning? Succession planning is about preparing your business for the future—making sure it’s ready for the next owner. It’s a deliberate process that involves tackling challenging issues, but the payoff is worth it. With careful planning, you can: Identify strengths and weaknesses in your business. Fix gaps in management, finances, legal structures, or insurance. Be ready for unexpected events, like illness or injury. Ensure your business is ready for opportunities to sell or transfer ownership. Succession planning isn’t just about passing on your business—it’s also tied to your estate planning and any legacy goals for your family or philanthropy. How the Transition Works Choosing the right buyer or successor is a key step. Options include: Selling or transferring to a family member. A management buyout (where the existing team takes over) or a management buy-in (where an external team comes in). Selling to another business in the same industry. Selling to a competitor. Who Can Help? Succession planning usually involves a team of experts. You’ll need advice from accountants and lawyers to get your business processes, legal structures, and financial setup in order before a sale or transfer. For bigger transactions, you might need help from a merger and acquisition (M&A) specialist or a business broker. When all advisors work together and have a solid plan in place, the transition can happen smoothly. Why It Matters Getting succession planning wrong can have serious consequences. It can lower the value of your business or, in family-run businesses, lead to tension and broken relationships. The key to success? Start early! Many business owners delay planning, leaving less time to prepare, which can lead to rushed and less effective outcomes. If you want to talk about your future plans and how to prepare your business for its next chapter, our team is here to help.
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