Considering the small business sector employs nearly half the national workforce and contributes around $380 billion to Australia’s GDP [1], it’s easy to see why it’s frequently referred to as the ‘engine room’ of the economy. Like all engine rooms, the sector requires sufficient fuel – in this case, working and growth capital – to […]
The ACCC has expressed concern about the potential for an accounting software monopoly arising from MYOB’s proposed acquisition of Reckon’s Accountants Group. [Related: MYOB to buy a slice of Reckon for $180m] “If MYOB acquired Reckon’s Accountants Group, it would likely be the only supplier of practice software suitable for medium to large accounting firms,” […]
The brains behind QPay, a payments app for uni students, have secured $570,000 in funding to challenge banks for the millennial market. Provided to QPay by high-profile investors including Sydney Angels and the Sydney Angels Sidecar Fund 2, the funding will enable the startup to release a student-targeted QPay MasterCard. According to QPay CTO and […]
Eight female founders, representing tech startups across a range of industries, have been selected to participate in SBE Australia’s 2018 Springboard Enterprises Australia Accelerator program. [Related: Noga Edelstein (UrbanYou) joins SBE Australia board as 2018 female startup program launches, Crop health monitoring startup FluroSat secures $1.5 million to fuel rapid growth, The tech sector needs to start valuing women for […]
Space tech startup Myriota, the 2017 Telstra South Australian New Business Award winner, has closed a US$15 million Series A funding round. [Related: SMBs must leverage new technology and take cues from successful leaders to thrive today and “Rocket science is no easy feat”: Fleet’s CEO on paving the way for space startups in Australia] The round was […]
Artificial intelligence startup Daisee has raised $8.8 million in a Series A funding round led by Alium Capital. Speaking with Dynamic Business, co-founder and CEO Richard Kimber explained the investment would support Daisee’s efforts to ‘democratise’ AI and combat Australia’s ‘brain drain’. Launched in August 2017, Daisee leverages AI research from within Australia’s university ecosystem […]
The OECD has found that penalties for competition law breaches are ‘significantly lower’ in Australia than in comparable OECD jurisdictions, prompting the nation’s competition regulator to announce it will rethink its approach to competition law enforcement. The OECD report, Pecuniary Penalties for Competition Law Infringements in Australia(link is external) compared the penalties for companies which breach […]
When startup founders first get up and running, they must, of out necessity, be lean and nimble – and that keeps them sharp. As resources become less scarce, it will become more and more challenging for founders and their teams to embody these qualities. In turn, this may lead them to lose sight of what […]
One of the unavoidable realities of doing business today is the pervasiveness of cyberattacks, which are a major threat to the security and safety of company data. In fact, the Federal Government estimates that Australian businesses lose a whopping $1 billion to cybercrime each year – a cost that is expected to rise exponentially [1]. […]
Cloud-based HR, payroll and benefits platform Employment Hero have raised $8 million during a Series B funding round co-led by employment marketplace SEEK and OneVentures, with contributions from AirTree Ventures and AMP. The capital injection, which will be used to roll out new products and services, follows on from Employment Hero’s oversubscribed $4.5 million Series A round, […]
