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The taskforce charged with reviewing ASIC’s enforcement powers, including penalties regime, has recommended nearly tripling penalties for corporate and financial sector misconduct.  In a position paper, published this week, The ASIC Enforcement Review Taskforce expressed concern that penalties available to address corporate and financial sector misconduct are inadequate, inconsistent or too low to act as a […]

Malcolm Turnbull has indicated that the National broadband network (NBN) was a “mistake” and confessed there is a “reasonable question mark” over whether the project will ever provide taxpayers with a return. The admission was made by the Prime Minister in a doorstop interview, today, following comments NBN Co CEO Bill Morrow made to Fairfax […]

Twelve startups have been selected to participate in Horizons, a regional travel accelerator program being run by Slingshot in partnership with travel tech company Amadeus, Brisbane Airport corporation and Queensland Tourism Industry Council. According to Slingshot CEO, Karen Lawson, the Horizons cohort boasts some of the most experienced travel entrepreneurs in the industry, including Paul […]

Legislation to remove double taxation on digital currencies, such as Bitcoin, has been passed by Australian Parliament, with fintech industry leaders describing the news as a win for consumers and businesses. The Treasury Laws Amendment (2017 Measures No. 6) Bill 2017  was tabled in Parliament, last month, by Treasurer Scott Morrison. He said the reform, which will […]

All small to medium business owners have been there. The point where they find themselves wearing multiple hats due to a lack of resources. They are not only the owner, but also the sales person, the marketing person, the human resources person, and IT support. This frequently leaves business owners stretched thin, to the point […]

Monash University is harnessing video games as part of a digital service to help employers hire talented graduates. According to the university, the game-based job and career matching platform, Monash Talent, provides recruiters and hiring managers with a snapshot of a graduate’s unique characteristics, including their key strengths. Each snapshot is based on how a […]

Hailed as the World’s Innovation Capital, Silicon Valley is often top of mind when a startup founder begins contemplating an expansion into the United States of America to add scale to their business. Operating in the Valley does lend a startup a certain degree of prestige – after all, it has birthed some of the […]

Eight terms in the standard form contract used by JJ Richards & Sons to engage small businesses have been deemed unfair, and therefore void under Australian Consumer Law (ACL), by the Federal Court, this week.   The Australian Competition and Consumer Commission (ACCC) instituted Federal Court proceedings against waste management giant, last month. It alleged […]

Colin Kinner doesn’t have much patience for the tall poppies of Australia or people who are intellectually dishonest in business. He does, however, have a great deal of time and respect for individuals who take the entrepreneurial plunge and attempt things “nobody else has tried before”. In fact, he’s coached hundreds of aspiring entrepreneurs over […]

Financial technology startups are growing in Australia, from less than 100 in 2014 to approximately 579 companies today. Many financial businesses see this as a direct threat, but if our country is to have any hope of building a world-class financial services technology industry, the future lies not in competition, but in collaboration. We are […]

Unemployment has hit a five-year low in NSW, dropping to 4.6% – more than a full percentage point below the next best state and almost a full percentage point below the national average. The latest figures from the ABS show 21,100 new jobs were added in September, about 2.5 times more than Victoria, the next closest state. […]

For organisations, big or small, accusations of sexual harassment are alarming. With the current press surrounding the allegations of sexual harassment made against Harvey Weinstein, businesses world-wide should reflect on their own internal policies and how they would deal with allegations of this nature. In Australia, we have an abundance of laws protecting employees from […]

A survey of 2000 small, medium and large NSW businesses, undertaken by the state government, has revealed nearly half don’t have measures in place that specifically address mental health in the workplace.    Noting that people spend a third of their adult life at work, with the potential for significant mental health impacts, Minister for […]

Comments made by the incoming chair of Australian Securities and Investment Commission (ASIC) indicating financial institutions have forgotten whose money they are investing should prompt Federal Government to rethink its super fund governance reforms, argues the Industry Super Australia (ISA). This week, Financial Services Minister Kelly O’Dwyer recommended that James Shipton, a former Goldman Sachs […]

Online retail marketplace MyDeal.com.au has partnered with small business lender Prospa to offer its listed retailers loans to accelerate their growth. Retailers who list their products through the MyDeal marketplace can now apply for a business loan of up to $250,000 directly through their supplier management system and, in the case of loans under $50,000, […]

A 7-Eleven Franchisee in Brisbane is facing court for allegedly dismissing a worker by removing him from the roster after he refused his employer’s request to repay an amount he had been paid. Balaji Australia Pty Ltd and current director and shareholder Madhav Ponnada will also face the Federal Circuit Court on allegations that false […]

Energy retailers and generators will be handed “unprecedented power to… control prices and drive up bills” under a new deal announced by the Federal Government, the Electrical Trades Union (ETU) has warned. On Tuesday, Malcolm Turnbull revealed the Federal Government will accept a recommendation of the Energy Security Board (ESB) for a National Energy Guarantee […]

This year, Australia continued its descent in the Global Innovation Index, dropping four places*. Now ranked 23rd, the nation’s innovation performance lags behind that of neighbour (and Rugby rival) New Zealand. This is concerning given the Federal Government’s $1.1 billion National Innovation and Science Agenda, launched nearly two years ago, was intended to transform Australia […]

Serious weaknesses in the security protocol used for all modern protected Wi-Fi networks, both personal and enterprise, have been exposed by a Belgian researcher who warns cyber attackers can gain access to and manipulate sensitive data or even inject malware into a network.      According to Mathy Vanhoef, a doctoral researcher in computer security from […]

Rising electricity costs over the past decade are a “drain on business productivity,” according to the Australian Competition and Consumer Commission’s inquiry into the national electricity market. The commission’s preliminary report into retail electricity pricing highlights concerns about the operation of the National Electricity Market, which pose an “electricity affordability problem” for consumers and businesses. […]