During our recent trip to Vanuatu, as we dodged potholes and chickens in the back of a bus from Port Vila to Blue Lagoon, Lawrence our driver shared his wisdom with us.

Lawrence explained how in Vanuatu parents often plant sandalwood trees for their children when they are born. It can take over 20 to 30 years until the tree is ready to harvest, by which time it is precious (up to 1 million vatu per tree), the most precious non-timber forest product for its oil and wood.*

The strategic investment is deeply symbolic of building a business. It got me thinking about planting the seeds of success in my small business and how I am building a strategic future for my retirement and my son as he grows into adulthood with that business.

Navigating small business ownership can be challenging whether you’re brand new to it or you’ve been running your business for years. One thing is certain - there is always something to learn! In business learning from our mistakes can often be costly, draining and take you further away from what you’d prefer to be spending money and time on.

If you are a small business owner, you may not be aware that there have been some significant changes to the Privacy Act 1988 (Privacy Act), with more likely coming, that you should know about and act on.

You’re busy and unless you’re a privacy enthusiast, this topic can be a bit of a snooze fest.