Sydney Business Trends: February 2022

Monday, February 28, 2022

TOP 10 PROFITABLE BUSINESSES FOR SALE IN SYDNEY IN 2022

Hello there,

Entrepreneurship is one everyone’s mind, but few can materialise their dream. I managed to do it because I was realistic. I knew that I did not have the knowledge and the expertise to start a business. Thus, I took the path of buying a franchise in Sydney. The city is a commercial hub and has so many opportunities for young and budding entrepreneurs. You can find a franchise in every sector in the city. Whether you are interested in the food sector or in the advertising domain, you can easily find a franchise that has been operating in the industry. Here is an article that will help you find all the latest business opportunities in 2022.

https://www.business2sell.com.au/blogs/evaluation/top--profitable-businesses-for-sale-in-sydney-in

From Newcastle to Bega: "The time to prepare is now" as flood threat looms

As major flooding persists in northeastern NSW where 17 council areas have been given national disaster declarations, the state's Minister for Emergency Services Steph Cooke has urged residents in the region and further south to prepare for damaging weather.

"I would implore people to prepare, and that extends to people in Sydney and also to people now on the south coast," Minister Cooke said.

"If you are a primary producer on the south coast, please look to move your stock to higher ground now. You have time to prepare now and we want you to help us help you," she said.

BoM warns Sydney could be next to flood, people in city's north-west told to 'prepare now'

Sydney residents have been urged to brace for flooding over the coming days with NSW Premier Dominic Perrottet saying "the worst is yet to come".

A severe weather warning is in place for heavy rain and high winds along the NSW coast from Newcastle to Bega, which could cause widespread damage and flooding.

The Bureau of Meteorology (BoM) said the severe weather was likely to begin this evening, and some areas could record up to 200 millimetres of rain in a six-hour period.

Large swathes of northern NSW have been flooded in the past 48 hours, and as the weather moves south, so will the danger.

$450m tower proposed for Pitt Street redevelopment

A 56-storey tower has been proposed for the site of an existing three-storey commercial building at 372 Pitt Street in Sydney, with developers Belingbak and ICD Property estimating the project is valued at around $450 million.

Announced this week, the two developers have submitted a ‘concept development application’ (DA) to the City of Sydney for the redevelopment of 372 Pitt, with the final build to include 304 hotel rooms, 28 residences and ground floor retail.

The proposed project is certainly a rare opportunity for the Sydney CBD, and was made possible after Belingbak amalgamated seven properties over the course of a year to create the singular 1,140sqm site.

Thursday, February 3, 2022

7 TIPS TO MANAGE AND MOTIVATE REMOTE TEAMS

Hi there,

Remote teams have become omnipresent due to the pandemic. Whether you are present in the same city or another country, most workers are working from home to stay safe. However, business owners are in a fix as they do not know how to keep the staff motivated. Many workers do not feel the zeal to work like they did at office. It hampers their work and growth. Thus, it is important to talk to them daily and conduct sessions where they can speak about themselves and their insecurities. The owner must keep them motivated through inspirational talks and making them accountable for their projects. Here is an article that will help you to do this.

https://www.business2sell.com.au/blogs/strategy/tips-to-manage-and-motivate-remote-teams

Why some Australians are paying real money for virtual land in the metaverse

This week, Christie, a retired school teacher in Perth, paid a bit over $1,000 to buy a virtual penthouse in a place called Uphoria, one of the many metaverse worlds that are being launched this year.

"The vision for this penthouse is rather than me hosting Zoom calls, I can send out my link to people to join me there," she said.

"If we're going to do Zoom calls anyway, we might as well do it in style."

Nick Scali’s drop in half-year profits cushioned by growing revenue

Nick Scali’s (ASX: NCK) profit for the half-year ending December 31 declined as the business was forced to close 55 per cent of its stores due to COVID-19 restrictions and was also caught up in wide-scale supply chain issues.

After acquiring the sofa specialists Plush in November 2021 for $101.4 million, the furniture store’s underlying earnings before interest and tax decreased by 3.7 per cent to $55.1 million, resulting in no immediate bounce in profit from the purchase.

Net profit after tax was $35.6 million, 6.6 per cent lower than the same period last year, although the business could take some comfort from the revenue growth, up 5.4 per cent from $171.1 million to $180.3 million.

Sydney Airport takeover ready for takeoff as shareholders approve deal

Sydney Airport (ASX: SYD) is set to delist from the ASX next week after shareholders approved a takeover of the company yesterday, meaning a coalition of Australian superannuation funds will take control of the airport.

At yesterday’s scheme meeting, 96.03 per cent of votes cast were in favour of the takeover meaning the deal will go ahead unless the Federal Court decides to block the acquisition.

A not insignificant number of retail investors did vote against the acquisition though, with 20.71 per cent of shareholders voting to block the play. However, their voting power only represented 3.97 per cent of votes cast in total.

Sydney Business Trends