News
Consumer confidence fell last week as Australians’ perception of the economy at large took a sharp negative turn following the central bank’s decision not to cut the cash rate, ANZ analysts say. The ANZ-Roy Morgan Australian Consumer Confidence index slid by 2.1 per cent from the previous week, with the “time to buy a household […]
Uber priced its initial public offering at the low end of its targeted range to value the company at $US82.4 billion ($A118 billion), hoping the conservative approach would let it avoid the market chaos suffered by rival Lyft. Uber, the most high-profile US listing since Facebook seven years ago, raised $US8.1 billion ($A12 billion), pricing […]
Optus Business and Wholesale today announced it has selected Sophos, a global leader in network and endpoint security, as its main cybersecurity technology partner. “Our goal is to protect the data of small businesses at the points where it is most vulnerable – at the endpoint and through phishing and suspicious URL attacks that target […]
The March Quarter 2019 Sensis Business Index, released Tuesday 7 May 2019, reveals Australian small and medium business (SMB) confidence fell significantly across the country during the first quarter of the year as concerns about the health of the economy grew. The report, which measures SMB activity, expectations and confidence over a three-month period, found […]
Westpac chief executive Brian Hartzer says the bank’s first-half results are disappointing. Westpac has held its interim dividend despite the cost of refunding customers helping drag down first-half profit by 22 per cent to $3.296 billion. Australia’s second largest bank set aside $617 million to cover refunds and associated costs following the financial services royal […]
Analysts are increasingly confident the RBA will move rates for the first time since August 2016 on Tuesday in a bit to reignite stalling economic growth. The Reserve Bank cash rate could change for the first time in nearly three years this week with a cut to a new record low a real possibility after […]
Former company director, Christopher Edward Eric Skelly, of Lark Hill, Queensland, has been sentenced to imprisonment on one charge of fraud after an investigation by ASIC. Mr Skelly was sentenced to three years and six months imprisonment, to be eligible for parole after 21 months. Mr Skelly, a former director of C & G Group […]
The Australian Small Business and Family Enterprise Ombudsman (ASBFEO), Kate Carnell today welcomed the announcement of an Australian Business Growth Fund, a recommendation in the ASBFEO’s Affordable Capital for SME Growth report. “Our report identified the need to address a critical funding gap for long-term, patient capital to enable our up-and-coming, high growth potential small […]
By Stuart Condie on 09:40 30/04/2019 (AAP) Nine Entertainment has agreed to sell its regional and community newspapers for $115 million, offloading about 170 titles acquired last year in its merger with Fairfax Media. The Australian Community Media and Printing titles, which include the Canberra Times, The Newcastle Herald and the Illawarra Mercury, have been bought […]
Consistent strength across the board sees NSW retain pole position according to CommSec’s latest State of the States report released today. Of the key economic indicators considered in the report – including economic growth, retail spending, and unemployment – NSW is consistently strong, ranking second in seven of the eight indicators. Treasurer Dominic Perrottet said […]
Prime Minister Scott Morrison won’t be drawn on a possible interest rate cut by the Reserve Bank, saying any reduction is a decision for the independent central bank. Financial markets see an increased likelihood of a cut in the 1.5 per cent cash rate after inflation figures released this week showed the annual rate unexpectedly […]
Before venturing outside of their comfort zones and purchasing from a new category online, Aussies want a better overall experience from online retailers. More than 40% of online shoppers have never purchased appliances, jewellery and hardware online 60% want cheaper shipping and returns if they are to purchase from new categories online 56% want to […]
Around 9 out of 10 Australian SMEs are frustrated about their business funding, naming onerous loan conditions, having to provide property security and a lack of flexibility as their major concerns. These are the findings of the latest SME Growth Index, conducted independently by banking market analysts East & Partners, on behalf of national working capital […]
Australia’s small to medium enterprises (SMEs) are bracing for a double whammy of disruption from the back-to-back Easter/Anzac Day public holidays coupled with a Federal election. 59% of SMEs say major political events such as elections have impacted their business in the past. 27% of SMEs expect the 2019 Easter/Anzac holiday period to negatively impact […]
By: Alex Druce Source: AAP Japanese paint giant Nippon has made a $3.8 billion offer for Australian company DuluxGroup. Shares in DuluxGroup have soared more than 27 per cent to a record high after its board backed a $3.8 billion acquisition proposal by Japanese paint giant Nippon. The Australian paint and homeware company recommended on Wednesday its […]
The challenge of securing bank finance is seeing a growing number of small and medium enterprises (SMEs) turn to online lenders. One in four SMEs have been knocked back for bank finance Among SMEs rejected by a bank, one in three have turned to family/friends or a credit card for funding Of those SMEs that […]
Small business council (COSBOA) launches ‘Fair to Small Business, Good for Everyone’ campaign With the Federal election looming, the Council of Small Business Organisations Australia (COSBOA) has launched a campaign; Fair to Small Business, Good for Everyone, which is calling for Governments to employ sensible policies to help small business people to get back to […]
These Aussie start up founders share their thoughts on the Federal Budget reveal earlier this week, giving us an insight into how SMEs are going to be affected – the positives and the negatives. Carl Hartmann, Co-founder at ShortLyster “The part of Mr Frydenberg’s speech most relevant to the startup sector was his […]
We like what we see, but turn words into action to benefit small business MYOB commends the Federal Government for returning the budget to surplus and for highlighting the importance of small business to the economy. MYOB particularly welcomes increasing the instant asset write-off to $30,000 and raising the threshold to $50 million. One of […]
The budget, which was revealed at 7:30pm yesterday, sees an increase in the instant asset write-off threshold to $30,000, lower tax rates and an easier tax dispute service for small business, as well as other conditional plans that could benefit SMEs. The new budget would mean that the instant asset write-off threshold would increase to $30,000; there […]
