Finance

Running a business is a challenge at the best of times, but throw in a pandemic and the associated economic woes – and cost cutting has never been more important.

If you think the only way to sell your business in the current environment is through a fire sale, think again. Dynamic Business explains everything you need to know about intangible assets.

You don’t often witness the richest man in the world publicly grilling another CEO on how his company has handled its customers.

American Express has partnered with Sniip, an Australian mobile bill payments platform, allowing Sniip members to pay bills with AMEX. “Until now, customers have often not been given the option to pay their household bills using an American Express card, as many businesses have not made it available for their customers,” said Damien Vasta, CEO […]

Aiming to not just outperform meat but replace it, Australian cultured meat company, Vow, has banked US$6 million of fresh funding. In 2019, Vow became the world’s first company to make a food product from the cells of an undomesticated animal, instead of the animal itself.  The company has since grown its library to 11 […]

While 2020 packed a punch that not many people were expecting, impending vaccines and a rebounding economy offer a glimmer of optimism for business in 2021. However improved economic conditions also mean a reduction in government safety nets like JobKeeper and cash flow boost. Properly managing cash flow in 2021 will be a precarious and […]

Unsurprisingly, the top four challenges and top three opportunities facing SMEs in the coming year are a result of COVID-19 related financial pressures, according to the latest ScotPac SME Growth Index research. When asked what they are most positive about for 2021, the most common response was getting “back in the black” (24%), and the […]

Despite hard hits to Australia’s wine, beef and barley industries, soaring iron ore spot prices have “more than made … up” the losses in lobsters and wine, says Deloitte. “To be clear, we’ve lost money on everything from lobsters to wine. But we’ve more than made that up in overall terms thanks to iron ore […]

More than one in five (22 per cent) of Australians businesses would use their credit card if they needed additional finance. A further 31 per cent would dip into their savings, while 21 per cent would look at a bank loan and 14 per cent access an overdraft.  This snapshot into borrowing habits has been […]

Snowflake, the Data Cloud platform based in the US, announced its first-ever Global Startup Challenge, with the winner receiving up to $250,000. “This competition will showcase the power of data network effects while also expanding their reach. We look forward to rewarding a top startup who both embodies and employs the Snowflake vision: To mobilise […]

As part of the 2020-21 Federal Budget announced in October, the government unveiled the JobMaker Hiring Credit to incentivise businesses to hire young job seekers over the next 12 months. The credit will cost $4bn over three years to support the employment of 450,000 people aged 35 and younger. It is expected to create around 450,000 positions […]

As part of its recently announced Digital Business Plan, the Federal Government has committed AUD3.6 million towards mandating the adoption of electronic invoicing for all Commonwealth government agencies.  The move aims to encourage greater adoption amongst businesses supplying to government and within their supply chains.  The mandate comes into effect as of 1 July 2022 and […]

More than 50 per cent of Australians intend to travel in the next six months, says Tourism Australia. Australia’s tourism industry, which employs 5 per cent of Australia’s workforce, has experienced a tough year, impacted by bushfires, the pandemic and interstate and national border closures.  However, industry experts have observed a growing Australian sentiment towards […]

Australia businesses should prepare to take at least two decades to build new opportunities in the Asian market, says RBA governor Dr Philip Lowe. On Wednesday, Dr Lowe addressed the Australian Strategic Forum, noting that Australia is in a fantastic location in the world, closest to some of the fastest-growing regions. “[Australia’s relations with India […]

The NSW Government is giving every adult $100 in vouchers to spend on dining and entertainment in a bid to resuscitate small businesses that have been among the most affected by the recession. Anyone over the age of 18 will receive four $25 vouchers to be used at COVID-Safe venues across the state, through the […]

On Monday, the CSIRO’s Data61 and the Australian Trade and Investment Commission (Austrade) released a report Global trade and investment megatrends detailing the five megatrends that will reshape global trade and investment during and post-COVID-19.  A megatrend is “a deep-set trajectory of change occurring at the intersection of multiple trends and drivers.”  The five megatrends […]

The NSW government 2020-21 budget has revealed the state’s payroll tax threshold will increase from $1 million to $1.2 million benefiting 36,000 businesses. The payroll tax rate will drop to 4.85 per cent from 5.45 per cent backdated to 1 July 2020. This is a temporary payroll tax rate decrease for FY2020-21 and FY2021-22. NSW […]

A national business poll has been released showing one in three SMEs are considering closing or selling their business within the next six months, due to the impact of the COVID-19 recession, unless there is a significant improvement in conditions. The poll conducted by ScotPac, Australia and New Zealand’s largest non-bank SME lender, has also […]

In a digital address to the McKell Institute today, Shadow Minister for Innovation, Technology and the Future of Work Clare O’Neil warned of the “tsunami coming for workers in predominantly male industries.” In June, Ms O’Neil outlined how COVID-19 disproportionately affected women because of the havoc it wreaked on female-dominated industries such as hospitality and […]

Tax policy under a Biden presidency may facilitate more US investment into Australia than a Trump presidency, according to the United States Studies Centre. Biden has proposed raising the corporate tax rate from 21 per cent to 28 per cent, raising personal income tax for the top individual earners from 37 per cent to 39.6 […]