Economy

The Australian dollar has dropped on the back of a lower than expected increase in retail sales, with purchases taking a dive for department stores and household good retailers.

The nation’s competition tsar has highlighted shortcomings with the proposed grocery industry code intended to limit unfair practices and establish clear conduct guidelines in the sector.

A dramatic spike in voluntary administration rates is being forecast for listed companies, with small and medium sized businesses across a range of key sectors thought to be most at risk.

The Australian publishing industry has pushed back against a proposal to remove restrictions that have long shielded local manufacturers and distributors yet limited access to cheaper books for the reading public. One of the more controversial proposals in the recent draft review of competition policy was its recommendation to lift parallel import restrictions on books, […]

Changes to stamp out bullying in the workplace are being exploited by opportunistic employees with some frivolous cases costing businesses up to tens of thousands of dollars.  Since the Fair Work Commission was granted jurisdiction to resolve bullying complaints in January, employees have been able to gain easier access to a range of workplace protections. […]

A renowned US economist has endorsed a pessimistic outlook for the Australian economy over the next 12 months, warning of a Chinese slowdown, halting GDP growth and a 20 per cent drop in the value of the Australian dollar.  Roubini Global Economics, founded by Dr Nouriel Roubini, has warned that a tight federal budget, lower […]

Small business has won a victory with a new proposal giving the competition watchdog more scope to act against major companies that use their market power to stifle competition.

The Abbott government is soon to release new guidelines to streamline interaction between government regulators and small businesses as part of its drive to further reduce compliance costs and red tape.

One of Australia’s peak business groups has defended the creation of a more effective appeals mechanism at the Fair Work Commission after the Law Council warned against the controversial proposal. Kate Carnell, the head of the Australian Chamber of Commerce and Industry, representing about 300,000 small businesses, said there was precedent for specialist appeals divisions […]

The start-up community is set to benefit next year from changes to employee share schemes and progress on the setting of clear crowd source funding rules. The start-up and venture capital sectors have loudly complained about tough conditions for aspiring tech entrepreneurs, warning they are forcing many to relocate overseas and damaging Australian competitiveness. The […]

In 2013, Google commissioned a PricewaterhouseCoopers (PwC) research to identify ways to accelerate the growth of Australian tech startup sector. The research found that this sector has the potential to contribute $109 billion or 4% of GDP to the economy.

Australian startup CoinJar have unveiled the country’s first bitcoin EFTPOS card, which allows the digital currency to be be converted to Australian dollars and spent in virtually any retail outlet that offers debit card transactions.

Entering into an international trading relationship can appear complex and challenging to many SMEs. The risks are real and need to be carefully managed.

August saw the largest monthly employment increase in the 35 years that the Australian Bureau of Statistics has been generating records.

In an evermore competitive market, Australian retailers are struggling against the rising number of multinational chains setting up camp.

The decision by the government to repeal the mining tax could negatively impact small business owners who may have to pay back taxes if they placed a return linked with tax support provisions.

Some entrepreneurs have a knack for innovative business ideas, but lack the key management skills needed to get their idea off the ground and turn it into a viable reality. The truth is that entrepreneurs will be forced to learn this skill or, alternatively, they will need to employ someone to do it. The day-to-day […]

Nearly 70 per cent of SMEs that spend money on innovation expect to receive a return on their investment within one year and expect it to make a significant difference to their business. The July 2014 Bibby Financial Services Barometer shows that more than half of SMEs surveyed are currently focused on innovation in the […]

Workers will miss out on an increase in their super payments under a new deal finalised between the government and the Palmer United Party to axe the mining tax. Small businesses are also set to lose out on key measures including the loss carry-back provisions and reduction in the instant asset write-off, both of which […]

Major companies across a range of industries have warned against new laws that could hold them legally responsible for reducing competition and squeezing smaller competitors out of the market. The government commissioned competition inquiry headed by Ian Harper is reported to be seriously considering the inclusion of an effects test in section 46 of the […]