News
Australia’s economy expanded by 0.5 per cent in the June quarter and by just 1.4 per cent annually. The Australian economy expanded by 0.5 per cent in the June quarter as annual growth slowed to a fresh post-GFC low 1.4 per cent. The quarterly increase was the same as the revised March quarter data and […]
Meal delivery service DoorDash is taking orders in Melbourne in its first foray outside North America. Meal delivery service DoorDash is taking orders in Melbourne in its first foray outside North America, adding to the competition in Australia’s home-delivery service market. The biggest US food delivery company will from Wednesday take on Uber Eats, Menulog […]
The Reserve Bank of Australia has held the cash rate at a record low 1.0 per cent. The Reserve Bank has held the cash rate at a record low 1.0 per cent as it continues to monitor the effect of cuts in June and July. The decision at Tuesday’s monthly board meeting was widely expected […]
The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell has praised Beyond Blue for supporting the mental health of small business owners. Beyond Blue has today released a free online guide that provides business advisers, such as accountants, bookkeepers and industry association representatives, with practical tips about how to support their clients and members. […]
Virgin Australia will cut 750 jobs as part of a restructure after announcing a full-year loss of $349.1 million that left the airline in the red for the seventh year in a row. Revenue for the 12 months to June 30 rose 7.5 per cent to $5.83 billion despite a “challenging trading environment” in the […]
Would-be food franchisees are not being given the full picture before they buy into a business, with several franchisors withholding important details including the contact information of former franchisees. The ACCC has also found food franchisors were consistently failing to disclose key unavoidable ongoing costs, such as wages, rent or inventory, and were not detailing which […]
The Council of Small Business Organisations Australia (COSBOA) today announced their support of the Australian Taxation Office (ATO) and the government in pursuit of those who deliberately scam the tax system. Speaking on behalf of COSBOA, Peter Strong, CEO noted the release of the tax gap for small business (12.5 per cent) and stated that […]
An $11.7 million Morrison government program will give small businesses practical advice to help lower energy costs and find the best energy deal. Small businesses will get a helping hand in navigating the energy market and lowering their energy costs under an $11.7 million Morrison government program. The Business Energy Advice Program offers personalised energy […]
The trade war between the US and China is the biggest threat to the global economy, Reserve Bank governor Phillip Lowe has reportedly told a business event. The trade war between the United States and China poses the single greatest threat to the global economy, the Reserve Bank governor has warned. The trade tensions are […]
The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell says she is deeply concerned by fresh data showing small business growth is in crisis, urging the government to do more to break down the barriers to business expansion. “The Institute of Public Affairs’ (IPA) latest research has found an alarming decline in the rate […]
The August 2019 Sensis Business Index has revealed that Australia’s small business confidence is strong, with 57% of businesses now confident in their prospects over the next 12 months. Tasmania, with 63% of businesses expressing confidence in their prospects, remains the most confident state followed by Queensland at 60% and Victoria at 58%. Commenting on […]
Industry groups have voiced their concerns over the Queensland government’s plan to make Christmas Eve a part-public holiday. Industry groups say the Queensland government’s plan to compensate Christmas Eve workers for lost penalty rates by making it a part-public holiday is a mistake. The Palaszczuk government says the proposal would compensate workers for recently-reduced penalty […]
New PayPal research reveals growing demand for alternative lending, with 42% of Australian SMBs saying they have used a non-bank, alternative lender. PayPal Australia has today announced that it has provided over $500 million (AUD) of finance to Australian small business through its alternative finance offering, PayPal Working Capital. Demonstrating the demand for faster, flexible […]
Europcar will pay a $350,000 penalty for imposing an excessive credit card surcharge on 63,012 customers. The Australian branch of global car rental company Europcar has agreed to pay a $350,000 fine for imposing excessive surcharges on customers who paid via credit and debit cards. The amount of each surcharge was quite small – averaging […]
RBA assistant governor Christopher Kent says the central bank’s cash rate cuts have helped lower borrowing costs, particularly for new mortgage customers. The Reserve Bank says its twin cash rate cuts have helped support the economy by lowering borrowing costs for businesses and consumers, most notably for new mortgage customers. Assistant governor Christopher Kent says […]
Nine Entertainment is aiming to buy the 45.5 per cent of 2GB and 3AW owner Macquarie Media it does not already own. Nine Entertainment looks set to take sole ownership of Macquarie Media with an offer that values the 2GB and 3AW talk radio owner at $275.4 million. Macquarie’s board has approved Nine’s $1.46 per […]
The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, has handed down a comprehensive review of the Small Business Fair Dismissal Code, recommending a suite of changes to help small business employers meet their obligations. “Put simply, the Small Business Fair Dismissal Code in its current form, is not working in the way it […]
Westpac chief executive Brian Hartzer says regulators risk behaving like referees who call tactics rather than fouls if they interfere unnecessarily in how banks do business. Eight months after appearing at the financial services royal commission, Mr Hartzer said he respected the role and purpose of the sector regulators including ASIC and APRA. But he likened […]
US buy now pay later platform Sezzle (ASX:SZL) has started trading on the ASX following the completion of an oversubscribed A$43.6M Initial Public Offering (IPO). The Minneapolis-based tech company’s latest figures show the number of active merchants rose to 5,021 in June, a gain of 52% from the March quarter. By way of comparison, Afterpay said […]
National Australia Bank has hired Susan Ferrier as chief people officer as the lender continues a leadership overhaul that already includes a new CEO. National Australia Bank has hired Susan Ferrier as chief people officer as the lender continues its leadership overhaul. Ms Ferrer will join on October 1 and replaces Lorraine Murphy, who announced her […]
