​Business email compromise (BEC) is an online scam where a cybercriminal impersonates a business representative to trick you, an employee, customer or vendor into transferring money or sensitive information to the scammer.

A local business recently fell victim to this scam, with devastating results. They have kindly shared the details to warn fellow businesses to look out for the warning signs.

The business owner lost a significant amount of money after the scammer posed as one of her creditors, by sending a fraudulent invoice with an almost identical email address – only one letter was different, which made the change inconspicuous. The business owner noticed that the BSB and account number were different, but with her busy operation, didn’t think to call the real accounts person and double check.

Following the transaction, someone rang to impersonate the ‘real’ company and say they had received the money in their bank account.

Even with a high level of awareness of scams, we can still get caught out in the business of everyday life.

• Be mindful of email addresses. If it looks wrong, double check with the email in your system or from previous transactions. Check for errors, extra characters, or the use of a different domain (eg .net instead of .com)

 

• If account details change, always call your creditor to check before paying the account.

 

• Have Malware Protection.

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For more information, check out this post at the Australian Cyber Security Centre.

Lockdowns, social distancing and staying home have been the new normal for nearly a month now – and the impact on business has been significant. Entire business sectors, such as the arts and events, have taken a serious blow. Other sectors, like online video platforms, have had to adapt to rapid growth in demand.

Many small businesses sit in between these two extremes. Whilst it is hard to comprehend in the current circumstances, business will get through this pandemic. This is a time to be flexible, adapt to change, and prepare for recovery.

​Business Advisory are working with small businesses in the South West and Peel to put solid structures in place for adapting to the lockdowns now, and for recovery in the future.
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Here’s our five top tips for businesses to prepare for recovery right now:

We're planning our next round of workshops right now - and we'd love to hear from you! Please fill in the survey below to let us know what you would like to hear more about while we're all in isolation. 

This survey is anonymous. Your information will only be used to help us plan for future workshops.​

Mother daughter duo Megan and Indira Ugle have spent the better part of their lives dedicated to researching and developing the high quality organic personal care products based on ancient Australian Aboriginal healing practices.

The duo have turned their passion into business enterprise Jipilj Djopilj, through which they will distribute soaps, candles, essences, face spritzers, body wash, moisturising cream and bath salts.

The pair are passionate about creating and offering employment opportunities for young Aboriginal people and sharing their culture and connection to the spiritual world.
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You can find out more on their Facebook page:

 We love success stories at Business Advisory – and we’ve got one unfolding in Margaret River right now.

Elisa Derossi and Kristian Hausler are a Margaret River-based couple passionate about combining the traditional recipes of Elisa’s native Italy with local produce from the Margaret River region, in the form of handmade traditional Italian bread sticks. Elisa’s knowledge and passion, combined with Master Baker Kristian’s expertise, has combined to make the business partnership now known as Krissini.

Our Business Advisor Sana Turnock has been working closely with Elisa and Kristian over the past 6 months to help them with setting up their new business, Krissini. They recently attended a Xero workshop with Kiko Willers of BHR Papalia, which proved a turning point in getting Krissini firmly established as one of the up and coming bright lights on the Margaret River business landscape. 
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Elisa spoke to Business Advisory about her experience.

What made you decide to attend the Xero workshop?

“Business Advisory are a great service, and Sana always directs us to the right person and the right tool to use to be able to evolve,” Elisa said.
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“We were researching what type of accounting system I could use. Sana directed us to the workshops, and recommended Xero. I went there because I trust Sana and I knew she knew I needed it.”

​Tell us about the workshop?

“Kiko presented to us on how accounting for small business works, and how easy Xero is to use,” Elisa said.
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“He told us to have a look and see how it all works. It was great to have that personal feedback, to see the person operating the system, and see how it works. We learned how to make an invoice, save contacts, and many other things. It was very informative and practical. That’s what encouraged me to make contact with him again after that.”

What made you decide to go on and join BHR Papalia as a client?

“We started the set up with Xero accounting because we’re growing,” Elisa said.
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“We decided that if we are going to choose an accountant, we’ll go for the people we already know. At the end of the day if I’m making a decision, I go to the person that I trust. It’s a good feeling to have someone I can ring and say hey, I don’t get it – and know I can trust their advice.”

​What sort of a result has attending the workshop and working with BHR Papalia had for you so far?

“The fact that we actually are using an accounting system, which I didn’t know anything about before I attended the workshop, is great,” Elisa said.

“We’ve gained some knowledge. When you’re learning you need to study, look around, and see what’s important. We’re going to other workshops now - the service is there for us to use, and it is something that we are grateful for. In Italy this would never happen, unless you are willing to pay a lot of money.
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“Here they want you to grow, because they understand we all grow together.”

What advice would you give to other people thinking of starting a business?

“Choose the people that you want to work with well,” Elisa said.
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“It’s important to make the right choice, especially when you’re starting out!”

Krissini are handmade, locally made, Italian breadsticks which combine simple, traditional Italian recipes with ingredients sourced fresh and local from the Margaret River region such as Wulura extra virgin olive oil. The five main ingredients of Krissini are flour, water, oil, salt, and yeast.

The quirky name comes from the style of Italian bread stick, Grissini, combined with Kristian’s nickname, Kris, to create Krissini.

There is a classic range of three Krissini that respect the traditional Italian recipe, and three gourmet Krissini that give a local twist to the traditional Italian recipe: Turmeric and cumin, activated charcoal, and herbs and garlic.

A spelt Krissini also provides an easier to digest option for the gluten intolerant. Spelt is an ancient relative to wheat that is full of minerals, potassium and magnesium.

Bunbury, Busselton and Margaret River TAFE are offering new certificates to help small business owners develop their business management skills. The courses, which earn participants a formal qualification in Business Management, include developing your own business plan and working one on one with a business advisor. They also cover:

• Business planning and organisation
• Marketing and customer service
• Operations and human resources
• Business structure and legal requirements
• Finance

There are three upcoming information sessions on these courses:

• Wednesday Feb 6 | 5.30-6.30pm | Bunbury TAFE
• Thursday Feb 7 | 5.30-6.30pm | Margaret River TAFE
• Friday Feb 8 | 5.30-6.30pm | Busselton TAFE

For more information, check out the downloadable documents at the links below.