The Business Risk Index (BRI) is a new regional credit rating that assesses health and provides unique insights into businesses across Australia.
The latest data from July 2024 across 329 Australian regions revealed some alarming figures:
- Business failures are set to increase in 87.2% of regions across Australia over the next year.
- Queensland is expected to see the highest average rate of business failure over the next 12 months at 6%.
- Western Australia is predicted to experience the largest average increase in business failures by 1.10%.
The factors driving these changes include high interest rates, increasing commercial rates, challenges in expanding commercial spaces, and the shortage of skilled labor.
As businesses in Australia enter the final quarter of 2024, decision-makers are looking for ways to address this looming issue with newer and better solutions.
Our team at H Connect International has been working with Australian businesses since our inception. We understand the nuances of how the Australian market works and how best to help businesses navigate these financial roadblocks.
Our expert remote teams offer exceptional value at a fraction of the cost, enabling you to achieve your short- and medium-term business goals without facing these struggles.
We specialize in providing end-to-end business support services, including finance and accounting, data analytics, administration, technology, and marketing as a service tailored to your business’s needs.
Here’s why businesses across Australia trust us, and why you can too:
- 60-70% Cost Arbitrage: Since rising costs is the main factor that will negatively impact Australian businesses, we provide a better alternative – a 60-70% cost arbitrage, inclusive of the initial set-up, complete infrastructure, employee benefits and operations management.
- Top-Tier Talent: Australia is predicted to face a shortage of 2.3 million workers across multiple industries by 2030. We can help combat this increasing shortage by sourcing and retaining best-in-class Sri Lankan talent. Regardless of which industry your business is in, we provide trained resources with deep-domain expertise, guaranteeing efficiency and accuracy.
- 5-step Transition Plan: Our tried-and-tested 5-stage onboarding process ensures seamless integration into your operations and a smooth transition from strategy into execution.
- Multi-layered Security: We are ISO/IEC 27001:2022 certified and adhere to strict protocols, including the General Data Protection Regulation (GDPR) and Data Protection Acts (like DPA 1988, Australia). Additionally, multi-layered security controls and regular audits ensure the complete security of your data.
- Business Continuity Planning: As a venture of the Hirdaramani group with a 100-year legacy, a partnership with us comes with a complete guarantee of stability. We’ll work together to create a Business Continuity Plan, ensuring zero disruptions to service delivery.
- State-of-the-Art Facilities: Your offshore team will operate from a state-of-the-art delivery center at the World Trade Center, equipped with the latest technology to support your business needs.
- In-house training and development: Our dedicated training team provides ongoing technical and behavioral training to ensure your team is always at the top of their game.
- Time Zone Advantage: As an extension of your operations, we align our schedule to yours, working the same calendar and time zone for easy and efficient collaboration.
While these Business Risk Index figures are cause for concern, we will help you safely navigate these challenges and grow.
Reach out to have a conversation on how H Connect International can help.
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