News
The Victorian Small Business Commission’s (VSBC) Annual Report 2019 reveals a record 2,074 small businesses sought help in resolving their business disputes. The main issues causing disputes were: 1. Retail leases 2. Money that wasn’t paid 3. Understanding rights and responsibilities when it comes to contracts 4. The quality of goods and services 5. Goods […]
The RBA cut the cash rate to 0.75 per cent after board members failed to see any stimulatory effects from government tax cuts and its two previous reductions. The Reserve Bank’s decision to cut the cash rate to a fresh record low 0.75 per cent this month came after it failed to see stimulatory effects […]
The latest case of CFMMEU (The Construction, Forestry, Maritime, Mining and Energy Union) bullying reinforces the need for Parliament to pass the ‘Ensuring Integrity’ laws. “This is the fifth judgment handed down in the last four weeks where the CFMMEU has bullied small businesses to either sign union deals, or to force workers to join […]
The Australian Tax Office will visit around 300 small businesses on Hobart’s eastern shore as part of a national crackdown on the “black economy”. The sting comes after public tip-offs about companies paying wages in cash and off the books, not reporting all their sales, or not providing invoices. “Our intelligence also suggests that some […]
The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, has today announced an inquiry into the insolvency system, to investigate if current insolvency practices achieve the best possible outcome for small and family businesses in financial trouble. This inquiry into insolvency aims to help more Australian businesses survive when they go into administration as […]
The Reserve Bank of Australia has cut the cash rate to a new record low of 0.75 per cent, reducing the cost of borrowing for the third time in five months. The market had largely priced in Tuesday’s 0.25 percentage point cut, despite lingering doubts over whether the move will deliver the desired lift in […]
Facebook users will no longer be able to see the number of likes, reactions and video views on other’s posts in a world-first trial. Similar to Instagram’s test that was rolled out in July this year, where the platform removed likes, Facebook is following suit. All likes on posts will now be private and only visible […]
Accountants are losing ground when it comes to SMEs nominating their most trusted business advisor, according to a national survey of more than 1000 Australian businesses. The September 2019 SME Growth Index found that only one in 20 business owners named their accountant as their most trusted business advisor. In 2017 when the question was […]
New research from the Australian Payroll Association has found that more than 9 in 10 organisations find government legislation or employee awards difficult to interpret, with most agreeing that many of these clauses need to be revised or made simpler. The finding was derived from a survey of 520 payroll managers across a mix of large […]
The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell says fresh data reveals the extent of the cash flow crisis for small and medium-sized businesses in Australia. The latest SME Growth Index has found one in five SMEs are experiencing cash flow problems due to business loans being rejected. According to the data, the […]
A study shows the percentage of businesswomen at the helm of the top 200 ASX-listed companies has gone backwards in the past year. Australia’s finance sector is struggling to shake its male-dominated image, with the number of female ASX 200-listed CEOs falling in the past 12 months. Woman accounted for 6.0 per cent of chief executive […]
Stripe, which builds economic infrastructure for the internet, is raising $250 million in additional funding—at a new pre-money valuation of $35 billion—from investors including General Catalyst, Sequoia, and Andreessen Horowitz, among others. Stripe will use the capital to accelerate its growth in three key areas: accelerating international expansion; growing its product suite; and extending its […]
All four of the big banks expect another cut to the country’s cash rate when the Reserve Bank of Australia meets on October 1. NAB analysts on Friday revised their initial forecasts of cuts in November and February to October and December, predicting the cash rate – currently at a record low of 1.0 per […]
Bosses who deliberately steal money from their employees’ pay will face criminal penalties, but genuine mistakes won’t be punished. But Attorney-General Christian Porter says employers who make genuine mistakes and fix them quickly will avoid a criminal record. The coalition government is releasing a discussion paper on Thursday looking for community feedback about wage theft. […]
The operator of a Victorian Coffee Club franchise is being taken to court after allegedly underpaying two workers more than $15,400 and proving false records. Two staff allegedly underpaid more than $15,400 at a popular coffee chain outlet have started legal action against the Victorian operator. Edison Peng and his company JMSL Pty Ltd, which […]
Labor senator Don Farrell’s push to disallow a government regulation protecting businesses from paying casual loadings and permanent entitlements has failed. Employers have welcomed the Senate defeating Labor’s bid to sink a Morrison government regulation that stops casual workers from “double dipping” on leave entitlements. The coalition announced the regulation last year in response to a […]
Under new draft laws, businesses with annual revenues of $50 million or more will face stricter controls on firing workers for expressing religious views in breach of their employment agreements. The legislative change is designed to placate concerns about the recent sacking of Australian rugby player Israel Folau for sharing controversial religious views on social […]
An idea that was rejected by an industry stalwart as the “the stupidest thing I’ve ever heard” has been awarded the 2019 Telstra Business Award. Future Golf which was launched by, Ali Terai in 2014 with a simple Facebook post and $100 website has turned into a game-changer, quite literally, for Australian golfers. Terai was […]
The NSW premier will scrap the controversial lockout laws for most of the CBD by the end of the year but the lockouts will remain in place in Kings Cross. The NSW premier is planning on scrapping Sydney’s lockout laws for most of the CBD but the move has been slammed by critics who argue […]
A Cheltenham-based business that has created a range of all-natural bandages which are sold to 35 countries has been named the 2019 Telstra Victorian Business of the Year. Inspired by his son’s sensitivity to typical bandages, Nutricare founder and CEO James Dutton set out to create a natural product that is sustainable, environmentally conscious and […]
