Economy
Robots are helping Australian businesses navigate the complex energy market and save millions of dollars in energy costs. Data released today by Australian technology company BidEnergy shows that over the last 12 months robots found savings totalling $2.6 million in 822 instances. For one large enterprise customer, robots found a saving of more than $25,000 […]
Consumer confidence fell last week as Australians’ perception of the economy at large took a sharp negative turn following the central bank’s decision not to cut the cash rate, ANZ analysts say. The ANZ-Roy Morgan Australian Consumer Confidence index slid by 2.1 per cent from the previous week, with the “time to buy a household […]
A Brisbane-based advisory firm says Australia is facing an eight-speed economy as an avalanche of conflicting forces converge to create an unprecedented air of uncertainty for business owners. Director Andrew Crealy says when the mining boom was in full swing a decade ago, businesses were grappling with a two-speed economy. “Put simply, this concept explained […]
Today the Council of Small Business Organisations Australia (COSBOA) has released comparison findings on the policies proposed by the Coalition and the Australian Labor Party (ALP) that will effect small businesses. The policies were assessed based on areas considered to be of high importance to the small business community. As part of the findings, COSBOA […]
The March Quarter 2019 Sensis Business Index, released Tuesday 7 May 2019, reveals Australian small and medium business (SMB) confidence fell significantly across the country during the first quarter of the year as concerns about the health of the economy grew. The report, which measures SMB activity, expectations and confidence over a three-month period, found […]
Westpac chief executive Brian Hartzer says the bank’s first-half results are disappointing. Westpac has held its interim dividend despite the cost of refunding customers helping drag down first-half profit by 22 per cent to $3.296 billion. Australia’s second largest bank set aside $617 million to cover refunds and associated costs following the financial services royal […]
Consistent strength across the board sees NSW retain pole position according to CommSec’s latest State of the States report released today. Of the key economic indicators considered in the report – including economic growth, retail spending, and unemployment – NSW is consistently strong, ranking second in seven of the eight indicators. Treasurer Dominic Perrottet said […]
Prime Minister Scott Morrison won’t be drawn on a possible interest rate cut by the Reserve Bank, saying any reduction is a decision for the independent central bank. Financial markets see an increased likelihood of a cut in the 1.5 per cent cash rate after inflation figures released this week showed the annual rate unexpectedly […]
Ask any established business owner/manager if they have a marketing budget and you will hear a resounding “Yes”. It’s an essential part of their growth strategy and keeping connected to their market. The average marketing budget ranges from 3-8% of revenue, however, many forget the employment costs of marketing managers and sales people which adds […]
This week we hear from two leaders on the big 4 banks, discussing whether they are becoming redundant to small business. It is becoming increasingly challenging for small and medium enterprises to secure bank finance as rejection figures are on the rise. An analysis of business loans by financial comparison site Mozo.com.au has found staying loyal to […]
Australia’s small to medium enterprises (SMEs) are bracing for a double whammy of disruption from the back-to-back Easter/Anzac Day public holidays coupled with a Federal election. 59% of SMEs say major political events such as elections have impacted their business in the past. 27% of SMEs expect the 2019 Easter/Anzac holiday period to negatively impact […]
The 2019 federal budget was revealed last week, with many changes indicated for small business, and so we asked leaders in the SME world for their opinions and reactions. As a recap, the conditional budget saw an increase in the instant asset write-off threshold to $30,000, lower tax rates and an easier tax dispute […]
We like what we see, but turn words into action to benefit small business MYOB commends the Federal Government for returning the budget to surplus and for highlighting the importance of small business to the economy. MYOB particularly welcomes increasing the instant asset write-off to $30,000 and raising the threshold to $50 million. One of […]
The budget, which was revealed at 7:30pm yesterday, sees an increase in the instant asset write-off threshold to $30,000, lower tax rates and an easier tax dispute service for small business, as well as other conditional plans that could benefit SMEs. The new budget would mean that the instant asset write-off threshold would increase to $30,000; there […]
With the federal budget announcement later today and an election on the horizon, a national survey reveals clear expectations of what the government should prioritise for the small to medium business sector. SME Growth Index research released yesterday shows the priorities of SMEs in regards to what the new Federal Parliament should focus on – and company tax cuts was the top response. […]
Sam Allert, Reckon Group CEO, shares his thoughts on the impacts of the expected federal budget announcement this evening. General Outlook “Our survey uncovered that 65 per cent of small business owners do not believe this year’s Federal Budget will deliver positive change for their business, suggesting that they have been disappointed by budget announcements in the past. “As a result, many are […]
Australians have long been considered a traditional group and for good reason. Neighbours recently entered its 35th TV season and the Tim Tam is still the nation’s favourite biscuit. But in the retail sector this love affair with tradition is no more, replaced by a thirst for new and innovative experiences. Recent 451 Research, commissioned by […]
The Eurozone debt crisis seems as though it is a small financial and economic implosion on the European continent. However, a ripple experienced in Europe can be a greater wave elsewhere in the world. Those in America would question whether something that affected the euro would have any impact on them, but economists are concerned that […]
Protections for gig workers are set for a boost.
It’s far from a secret that macroeconomic trends can have a major impact on small businesses. Among the trends that typically has the greatest impact on these small enterprises is volatility in the market. When markets become unstable, the results can make or break the small businesses that make up the core of most economies. […]
