News
Thousands of businesses may be entitled to insurance payments after the NSW Court of Appeal held that COVID-19 related losses are not excluded under certain insurance policies’ business interruption clauses. The NSW Court of Appeal’s decision on Wednesday involved insurer HDI and one of its businesses, however the findings have widespread implications for other insurers […]
As online shopping merges with entertainment and celebrity culture, retailers with a fun sales process will be the winners according to Maggie Zhou, Managing Director of Alibaba Group (Australia and NZ). Ms Zhou made this observation during Alibaba’s 11.11 Global Shopping Festival, which has been held on 11th November for the last 12 years. The 2020 event […]
Small businesses will have more opportunities to supply goods and services to the NSW government under the $5 mn tendering support service established under the 2020-21 NSW Budget. The NSW Small Business Commission will deliver a four-year program to support small and local businesses submit tenders and negotiate Government contracts. “The NSW Government spends more […]
The NSW government 2020-21 budget has revealed the state’s payroll tax threshold will increase from $1 million to $1.2 million benefiting 36,000 businesses. The payroll tax rate will drop to 4.85 per cent from 5.45 per cent backdated to 1 July 2020. This is a temporary payroll tax rate decrease for FY2020-21 and FY2021-22. NSW […]
Business groups have voiced their support of the NSW Budget, saying the state is in a good position to create more jobs, improve tax and services and support the economy out of the coronavirus recession. The budget was presented on Monday by state Treasurer Dominic Perottet at NSW Parliament. It revealed a record $107.1 billion […]
Epic Games, the maker of one of the world’s most popular video games Fortnite, has brought its legal fight against Apple to Australian shores. Epic Games and Apple first became embroiled in a lawsuit in a US District Court on 13 August 2020. The claim filed in Australia’s Federal Court today concerns the same issue […]
The NSW Government today unveiled the 2020-21 landmark budget for the state, to enable a “strong recovery” out of the coronavirus recession. In an address presented by NSW Treasurer Dominic Perrottet at Parliament House in Sydney, the Treasurer said: “This Budget continues to support the industries that have made our regions so successful for so […]
Volatility is a broad term, used loosely by many in the financial world. Sometimes it relates to price movements, while at other times, it is synonymous with risk.The stock market can be a tumultuous place, with wide-ranging annual, quarterly and even daily swings across all industries. Although this volatility can present significant investment risks, for […]
H2X Marine, the new boat building arm of Australia’s leading Hydrogen Fuel Cell Vehicle manufacturer, has partnered with Brisbane small business, Wildcat Marine, to commence construction on ferries powered by renewable energy. The company will initially produce a range of zero-emission passenger ferries for industrial and commercial use each driven by Hydrogen Fuel Cell technology. […]
The largest trade deal in history was signed on Sunday, with 15 countries including Australia agreeing to the pact, which covers 2.2 billion people and 30 per cent of the global economy. The agreement, the Regional Comprehensive Economic Partnership, or RCEP, which has taken eight years to negotiate, surpasses the Trans-Pacific Partnership (TPP) in scale, […]
The Australian Securities and Investments Commission (ASIC) released its long-awaited report on the Buy Now Pay Later (BNPL) sector on Monday, revealing that some consumers have cut down on meals due to debts, and showing that one in five consumers are missing payments. However, the financial watchdog stopped short of recommending the sector be regulated […]
Businesses are invited to join the first ever online “Jumping for Literacy Guinness World record attempt” on Thursday 19 November to support early childhood literacy. The event is run by United Way Australia (UWA), a charity aiming to improve early childhood outcomes and school-to-work transitions. “We know that 90 per cent of brain development occurs […]
The JobMaker Hiring Credit Bill passed Parliament on Wednesday, confirming $4 billion to support around 450,000 jobs for people aged between 15 to 35. The hiring credit is designed to encourage businesses to hire additional young employees and increase employment. Youth unemployment was heavily impacted due to the lockdown caused by the COVID-19 pandemic. “We […]
With the announcement of Joe Biden’s win over the US election earlier this week comes news from experts that Australian SMBs are likely to see more stability moving forward from a volatile period. However, while hopeful, many are also saying that it is impossible to predict how the market will shift moving forward, and therefore […]
A national business poll has been released showing one in three SMEs are considering closing or selling their business within the next six months, due to the impact of the COVID-19 recession, unless there is a significant improvement in conditions. The poll conducted by ScotPac, Australia and New Zealand’s largest non-bank SME lender, has also […]
Narelle Anderson is the Founder and Managing Director of Envirobank Recycling, an Indigenous-owned company that aims to incentivise bottle and can recycling. She has over 20 years of experience in recycling, having previously grown CBD Enviro Services twenty-fold before selling it to a public company. She is also a board member of the Australian Council […]
The local network of the UN Global Compact, the Global Compact Network Australia (GCNA), today launched The Australian Business Guide to Implementing the UN Declaration on the Rights of Indigenous Peoples, written in collaboration with KPMG Australia and the University of Technology Sydney (UTS). Designed to complement the global business reference guide for the United […]
As Australia celebrates NAIDOC Week 2020, it is vital to put the spotlight on Australia’s thriving Indigenous businesses. We celebrate up-and-coming and experienced Indigenous entrepreneurs and look at how companies can support and procure from Indigenous businesses. There are currently up to 16,000 Indigenous-owned businesses in Australia. This number is set to grow to over […]
For many organisations, business survival in a COVID-19 world has relied on their ability to reduce costs quickly. One way to lower costs and ensure business continuity in the wake of future disasters is to outsource key activities to affordable offshore locations. Traditionally, Australian companies have outsourced key functions ranging from back-office administration and finance functions […]
Commonwealth and state and territory consumer affairs ministers have agreed to strengthen existing unfair contract term protections in the Australian Consumer Law, affording up to 99 per cent of businesses protection. “Evidence gathered through public consultation indicates that unfair terms remain prevalent in standard form contracts and there is uncertainty around the scope of the […]
