Top tips from 2024 to help you thrive in 2025
Can you believe we're wrapping up 2024 already? As a business owner, every day is different - one minute, you're having a lightbulb moment, and the next, you're elbow deep in spreadsheets, chasing invoices, or keeping up with industry changes.
With so much information floating around, we've been here to help unpack the hot topics and explore the key trends, in collaboration with industry leaders.
We’ve explored the potential of AI, simplified tax processes, battled cybercrime, investigated the meaning of Aussie-made, and focused on the growing importance of mental wellbeing.
Setting the stage for 2025, we’ve returned to our experts for their thoughts on the important ideas we’ve covered this year and their reflections on what’s coming up in the new year.
1. AI can be a game-changer, but it’s no magic wand
The age of AI isn’t coming; it’s already here. From analysing data, creating content and fast-tracking operations, AI has the power to help your business achieve more with less effort.
However, as the experts from CSIRO remind us, while AI can be a game-changer, it’s no magic wand.
‘Artificial intelligence is a tool just like a calculator, or the internet. It has the potential to help many small businesses. However, AI tools are not the answer to every question and need to be used responsibly and ethically.’
CSIRO expanded on this in their article, noting that AI is not good at everything and won’t do a better job of being ‘human’ than humans any time soon. Because AI is based on patterns within trained data, it does not truly think.
Their tip for what business owners can do right now? Make sure your data is high quality; no matter what AI tool you’re using or interested in using.
‘If you are using an AI tool to help your business, ensure that the data you train it with is of the highest quality and up to date. Modern AI does not truly think and relies on patterns in data. If what you provide is messy or old, it will return answers that are incorrect or out of date.’
To thrive in 2025, education is key. The CSIRO Presents Everyday AI podcast is an engaging and accessible way to get up to speed on AI, even if you're not a tech expert. Tune in now or over the holiday season to learn how AI can help your business.
Read the article: What you should know when using AI for your business (April) by the CSIRO
2. Green and gold: Australia’s trusted mark
There’s a growing pride in supporting local businesses, and the Australian Made Campaign is proudly providing the iconic green and gold kangaroo for registered business owners to use.
With 99% of Australians recognising the Australian Made logo, it's no wonder this unique symbol is popular among Aussie-made products in 2024. Over 4,500 businesses proudly carry the logo, supporting 40,000 jobs and generating $8.1 billion in revenue across a wide range of products.
Looking ahead, Australian Made Week is gearing up for another impactful year, inviting businesses and consumers alike to get involved. The Campaign experts tell us that 91% of Australian consumers want to see more Australian Made products. When reviewing your business plan for the coming year, consider how your business can take up the cause and harness the power of the green and gold kangaroo.
Read the article: Cheers to Aussie craftsmanship: Australian Made Week is back (May) with the help of the Australian Made Campaign
3. Get your 'cyber ducks' in a row
We're all familiar with messages urgently asking for personal or financial information or an offer that seems too good to be true?
Maybe you’ve received a text or an email threatening to close an account if you don’t act quickly, or even been at the end of a robocall claiming the FBI is after you.
What do these scenarios have in common? They’re likely from scammers – and for business owners, cyber-attacks like these continue to grow.
We caught up with our experts at Cyber Wardens, who stressed that it’s more important than ever to get your cyber ducks in a row to protect your business from cybercrime.
‘The latest data from the 2023–24 Australian Signals Directorate Cyber Threat Report shows that the average cost of cybercrime for small businesses has surged 8%, now totalling $49,600. To avoid being hit by these costs, you need to take steps today to help safeguard your business against future attacks.’
As we head into 2025, it’s the perfect time to take charge of cyber safety with a free online training program for you and your team.
If you have been attacked, the new Small Business Cyber Resilience Service is available to help you recover. The Digital Solutions program can tee you up with a business advisor, and give you access to unlimited access to workshops, webinars, and self-directed online tutorials – including on cyber security.
Read the article: Recognising and protecting your business from cybersecurity threats (August) with the help of Cyber Wardens
4. Change is messy, but worth it
Being your own boss is an adventure, but it’s not without its challenges – overwork, stress, and the struggle to balance work and personal life are part of responding to the shifting business environment.
The Wellbeing Lab has a tip for you to think about now as 2024 comes to an end.
‘Let’s challenge the myth that change can be "managed’ or that discomfort means something is wrong. Change is messy and magical – it brings out different reactions and emotions in each of us. When teams create safe spaces to be curious and compassionate, they’re better able to support one another and discover unexpected opportunities together.’
The Wellbeing Lab also offers their key 2024 takeaway for business owners.
‘Psychological safety is essential for strong relationships at work. By addressing small issues early, you prevent them from becoming major problems. Simple questions like “what’s working well?” and “where can we improve, boost trust and enhance productivity?”’
As we head into 2025, investing in psychological safety is more important than ever. It reduces risks like harassment, bullying, and burnout, while also ensuring you meet new workplace safety regulations.
Prioritise open discussion, encourage collaboration and support new ideas to build the confidence your business needs to navigate change and thrive in 2025.
Read the article: 6 steps to create a mentally healthy and vibrant workplace (September) by The Wellbeing Lab
5. Getting the basics right
Handling your taxes as a business owner can feel like building flatpack furniture – sure, you can try to figure it out yourself, but with the right guidance, it's a lot smoother and less likely to result in something going wrong.
This is why we turned to the experts at the Australian Taxation Office (ATO), who provided some simple steps to help you manage your tax obligations and keep your business on track.
Reflecting on their collaboration with us, Assistant Commissioner of Small Business Emma Tobias pointed out that the key to business success is having the basics nailed down—something to also remember when forward planning.
‘This includes using digital tools to help streamline processes, getting the right support and advice, and keeping good records. The ATO have a range of support and resources available to help small businesses get it right. You can start by checking out good business habits and supporting your small business.’
With 2025 right around the corner, we asked for some key advice on how to kickstart 2025 and what business owners should focus on to succeed in the year ahead:
‘Small business is serious business, and we want to make it easier for you to do the right thing and give you the best chance to succeed. That’s why we’ve launched a new page on the ATO website, focusing on key areas that can help you stay on top of your obligations.’
‘We encourage you to visit our focus areas for small business, now is a great time to fix any issues and get things right, so you can focus on your business in the new year.’
Read the article: Tips to help you this tax time (June) by the Australian Taxation Office (ATO).
That’s a wrap
As we wrap up 2024, it’s clear that there are lots of opportunities for businesses to embrace change, innovation, and wellbeing. Whether it’s looking into hopping on board with Australian Made, building cyber resilience, or creating supportive workplace environments, the year ahead is brimming with potential.
We’re looking forward to bringing you even more trending insights and practical tools to help you navigate challenges and set your business up for success in 2025.
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