News
The Australian Chamber of Commerce & Industry (ACCI) has put out a statement arguing that the Victorian Government’s roadmap for reopening Metropolitan Melbourne uses excessive thresholds for easing restrictions and should be overhauled using the National roadmap as the basis. “The Victorian Government should use the national roadmap as a starting point for getting to […]
New data has revealed voluntary administrations have significantly reduced during the COVID-19 pandemic, reflecting the uncertain mindset of small business owners. However, this could be prolonging an insolvency cliff. Prushka Fast Debt Recovery revealed through data sourced from court records that the number of liquidations and administrations started to drop in April this year. In […]
The Australian Small Business and Family Enterprise Ombudsman Kate Carnell has called on the Victorian Government to cover the costs associated with small business closures, with tough trading restrictions to remain in place until the end of October, at the earliest. In announcing his Government’s much-anticipated steps to easing the nation’s strictest lockdown, Premier Daniel […]
The Senate Committee on Financial Technology and Regulatory Technology has recommended that the Australian Government provide greater clarity around the Research & Development Tax Incentive (RDTI) eligibility guidelines to ensure software innovation and creation is supported in Australia. On Wednesday, Liberal Senator Andrew Bragg tabled an interim report covering tax, regulation, access to capital, skills […]
The NSW Government has released its first AI strategy to create jobs and improve services to citizens. Premier Gladys Berejiklian emphasised the positive impact that this would have on job creation in IT, cyber security, data science and engineering. “This is great news for citizens, researchers and businesses. We know how important AI is and […]
The ABS confirmed Australia’s first recession since 1990 after recording two consecutive quarters of economic decline. After being hammered by the pandemic, bushfires and drought, Australia’s GDP plunged by 7 per cent in the April-June quarter. This follows a 0.3 per cent fall in the previous quarter. The 7 per cent fall is also the […]
Tenants who received rent relief under the COVID-19 mandatory code of conduct will continue to receive concessions for at least six months after October 2020. Last week, the NSW Supreme Court found that luxury footwear retailer, Sneakerboy, will have until 30 April 2021 before its landlord can increase rent or evict it. What relief do […]
Consumers using buy now, pay later services won’t have legal protection as companies such as Afterpay and Zip are being called to ‘self-regulate’. This comes from an interim report from the Senate Select Committee on Financial Technology and Regulatory Technology. Buy now, pay later (BNPL) fintech companies have become increasingly popular, with Australia’s leader Afterpay […]
Australian startup ACE EV has unveiled their plans for Australian-manufactured electric cars, made from imported flat-pack vehicle kits. From 2019-2020 there was a 40 per cent increase in global sales of electric vehicles. As the electric vehicle market continues to grow Greg McGarvie and his international team from ACE EV have created a flat-pack model […]
Employers breathe a sigh of relief as the Fair Work Commission releases draft flexibility clauses that help employers and employees discuss flexible working arrangements during and beyond COVID-19. On Monday, Fair Work Commission president Iain Ross published a “draft award flexibility schedule” outlining the ideas that modern awards could adopt to help SMEs achieve flexible […]
Facebook is threatening to ban news from being shared on its platforms in Australia, due to a new regulatory code that would force themselves and Google to pay news publishers for content. The mandatory news code being introduced has been supported by major media companies including Nine Entertainment, News Corp Australia and Guardian Australia, looking […]
Key changes will be made to ease restrictions on the NSW Victorian border to help residents and local businesses operate as Victoria continues to battle COVID-19. A single border region will be reinstated that extends to around 50 kilometres on either side of the border. The new border region and ‘border region resident’ permit will […]
People who live in New South Wales and South Australia but work in Victoria are now eligible for a $1,500 Pandemic Leave Disaster Payment if they need to self-isolate or quarantine due to COVID-19. The Australian Government announced on 28 August the extension of the payment Victorian’s are currently receiving, to people who do not […]
Premier Daniel Andrews will release his reopening roadmap for Victoria this Sunday, September 6th. In a statement released today, the Victorian Government has said they will release their plan to reopen the state from Stage 4 lockdown, aiming to provide certainty and clarity for the people and businesses within the state. This announcement comes as […]
47 per cent of small to medium enterprises expect salary increases to be frozen for at least 12 months, according to a new study from ACA research. It is positive to see that the proportion of SMEs reporting a decline in revenue has decreased from 78 per cent to 67 per cent last month. Consequently, […]
Treasurer Josh Frydenberg has lashed out at Victorian Premier Daniel Andrews over the premier’s handling of COVID-19 during a heated interview with ABC News Breakfast. The Morrison Government is demanding that the premier state what the appropriate level of new cases in Victoria would be for him to open up Stage 4 restrictions. They are […]
The NSW government announced today that regional, small and medium-sized businesses will be prioritised for all direct procurements up to $250,000. Deputy Premier and Minister for Regional NSW John Barilaro explained that the Small and Medium Enterprise (SME) and Regional Procurement Policy provides a much needed boost for businesses impacted by droughts, bushfires and COVID-19. […]
Despite the global economic slow-down, the shift to online spending and move from traditional forms of credit have boosted Afterpay’s position domestically and internationally. Afterpay announced today that it had doubled its revenue to $519.2 million. This is a 97 per cent increase from the 2019 financial year. Net losses are also down to $22.9 […]
NSW small businesses have less than a week left to apply for the Small Business Recovery Grant. The Grant was opened up to small businesses who employ less than 20 full-time staff to help meet the costs of safely reopening or up-scaling operations. Small businesses which meet the eligibility criteria may claim between $500 and $3000 to help create COVID-19 […]
ANZ today launched a new digital lending platform to provide a conditional $200,000 to small businesses in unsecured lending in as little as 20 minutes if they share their Accounting Software Platform. Developed in partnership with DemystData – an external data marketplace – ANZ Online Business Lending syncs with Accounting Software Platforms (ASPs) Xero, QuickBooks […]
