A survey conducted by the Australian Industry Group and PricewaterhouseCoopers has shown a decline in Australian manufacturing due to the reduction in demand for goods domestically and overseas. The survey took in responses regarding December activity, recording a fall for the seventh straight month. However, the rate of decline for December has slowed compared with […]
Western Australia will be in deficit by 2011, according to Treasury figures that show a tripling of the state’s debt to $16.7 billion in the next three years, signalling an end to the much feted boom period. The extent of the decline will put the state’s AAA credit rating at risk, admits WA Treasurer Troy […]
A lack of progress at international level has become a stumbling block for the Australian economy, says Minister for Trade Simon Crean. He believes efforts to stimulate the economy have been stifled by failure to come to a resolution on global trade. “Economies are prepared to put in a lot of fiscal stimulus, but what’s […]
Saving rather than spending the Federal Government’s bonus payment will still be good for the economy, says Reserve Bank of Australia (RBA) governor Glenn Stevens. While the stimulus package has been designed to go to the lowest income earners to encourage them to reinject it into the economy, he notes that saving still has a […]
Businesses are three times more likely to shed staff or hold off on hiring new employees compared with March this year, according to a survey conducted by global consultancy Hay Group. Almost half the respondents from businesses in Australia and New Zealand indicated that they would not hire anyone new, with 17 percent saying they […]
Industry has slowed in China and their economy could be shrinking, according to recent figures released. Industrial production, a key economic indicator for the country, was at 5.4 percent in the year to November, down from mid-year figures of 17 percent. “Everything is pretty bad and we’re not at the worst point yet,” remarks Paul […]
The Federal Government will provide $1.4 billion over five years to assist small businesses and community groups with addressing climate change through a Climate Change Action Fund. The money will be for the purchase of energy efficient equipment, with some funds available as grants for developing long-term energy efficiency plans. Minister for Climate Change, […]
Monday 8 December marks the first annual Global Business Incubation Day, developed to celebrate the success of business incubators in more than 60 countries. Business incubation, the process of growing microbusinesses in a collaborative and supportive environment alongside other similar businesses, has been proven successful for more than five decades, but this is the first […]
Australia’s 1.3 million small businesses will receive a tax break to the tune of $440 million from the Federal Government. Businesses with a turnover of less than $2 million per annum will be eligible to defer 20 percent of their Pay As You Go tax instalment for the December quarter when it next falls due […]
Red tape is the one major thing that is holding back an otherwise robust Australian economy, according to a global survey commissioned by the Association of Chartered Certified Accountants (ACCA). Eighty percent of small businesses have indicated their concern about the number of regulations affecting them, and compliance to these, with 77 percent expressing concern […]
