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This year, Australia will see a $213.7 billion deficit. “Our economic response has come at a significant cost,” said Treasurer Frydenberg in his address on Tuesday evening. The deficit is expected to fall to $66.9 billion by 2023-24. Net debt will increase to $703 billion (36 per cent of GDP this year) and peak at $966 billion (44 […]
This evening the Federal Budget will be announced by Treasurer Josh Frydenberg in Parliament House in Canberra. Having been deemed by Prime Minister Scott Morrison the “most important budget since World War II”, the Government will this evening lay out their plan for economic recovery from the recession created by the COVID-19 pandemic. Follow the […]
The Reserve Bank of Australia (RBA) has kept the official cash rate at a steady, unprecedented low, as the Australian economy continues its slow recovery from the COVID-19 recession The RBA has decided to maintain its cash rate target at 0.25 per cent, on the day the Australian government is due to unveil the long-awaited […]
With the announcement of the Federal Budget looming this evening, start-up executives are calling for more money to be invested into growing new companies, and policy surety in regards to the R&D tax incentive. Nick Northcott, the Executive Director of legal tech startup Immediation, has said that in order for startup businesses to gain traction […]
As the Federal Government hands down the “most important budget since World War II” this evening, Australians can expect to see further tax cuts and a $200 billion deficit for the 2020/21 financial year. Whilst having been warned of a debt and deficit disaster, the government has acknowledged that to grow the economy they should […]
The world has watched US politics this year with a mixture of dismay, amusement and confusion. One of the most controversial political skirmishes this year is being fought over the US Supreme Court, after the death of Justice Ruth Bader Ginsburg on the 18 September left a vacancy that Republicans and Democrats have been vying […]
Today the Prime Minister Scott Morrison delivered his pre-budget speech on “arguably one of the most important” budgets since the end of the second world war. The 2020-21 budget, which will be announced next Tuesday, comes at the heels of Australia’s worst economic contraction after being hit by the global pandemic, bushfires and drought. “This […]
Guest authored by Brooke Jamieson, Head of Experiences at smart spaces platform PlaceOS. The pandemic has accelerated two ongoing trends: a decline in the traditional use of real estate, particularly retail, and an increasingly flexible approach to work. For example, a recent Retail Market Overview by JLL reported that vacancy across the Australian core retail […]
A Brisbane law firm dedicated to startups is looking for the next potential unicorn with the announcement of a new $50,000 Grant this week. Bolter has launched its Little Giant Startup Grant to recognise and promote the incredible entrepreneurial spirit of Australians and give one lucky business a super-boost. The competitive Grant, which includes $25,000 […]
The fourth annual NSW Small Business Month has now launched, providing hundreds of free and low-cost activities across NSW and a chance for businesses to reboot and recover. Premier Gladys Berejiklian noted that this is an opportunity to support small businesses and focus on the future of commerce in NSW. “Business communities have faced unprecedented […]
Analysis from a sentiment measurement tool, Mindset AI, also shows the predominant emotion of Australian small business owners in 2020 has been one of anxiety. It is because of this that Xero, the global small business platform, today announced the release of a new online mental health course for small business advisors, developed in partnership […]
Cryptocurrencies have had a rocky road towards mainstream acceptance. In 2017, the CEO of JP Morgan, Jamie Dimon, called bitcoin “a fraud”. However in 2019, JP Morgan became the first US bank to successfully test its own digital coin. The growth of digital currency has enthralled investors. Bitcoin, the world’s largest cryptocurrency by market […]
The finalists of the 2020 Advance Awards are being announced today, in the lead up to the ninth annual ceremony where the winners will be announced on October 15. The finalists are exceptional global Australians who are leading the industries of Arts, Commercial Creatives, Education, Financial Services, Life Sciences, Social Impact, Sustainability. Science and Technology. […]
COVID-19 has made people acutely aware of the importance of personal hygiene, and we should be equally vigilant when it comes to cyber hygiene. Cyber attacks are on the rise, meaning businesses of all sizes are vulnerable to attacks like malware and phishing, particularly if businesses aren’t getting the cyber-hygiene basics right. When it comes to […]
The Australian government has announced an $800 million Digital Business Package to update Australia’s digital infrastructure. The bulk of the funding will be put towards an updated digital ID system and business register modernisation. Ahead of next week’s delayed federal budget, Morrison said businesses had undergone “a decade of change in months”, and will continue […]
Applications for the Tech23 Deeptech Festival are now open for young, high-growth tech companies. Since 2009, the Tech23 has aimed to unlock new ways of working by joining the dots between enterprise and clever tech. Tech23 seeks to encourage the deeptech ecosystem to collaborate; learn and respond – leveraging a wealth of talents, contacts and […]
The City of Sydney has launched the third round of the Retail Innovation Program as part of a $72.5 million package to support local businesses through the COVID-19 pandemic. Delivered over 12 weeks and at no cost to participants, the program empowers small business owners to adapt and innovate in the face of unprecedented change. […]
The number one concern for female entrepreneurs prior to COVID-19 was funding, but now it’s simply business survival, reports a new international study, Future Females 2020: Changing Landscape of Entrepreneurship Survey. Within the first month of the pandemic, 59 per cent of the Future Females community had experienced a negative financial impact on their business, and […]
The Australian Taxation Office (ATO) have outlined key dates employers must be aware of to stay eligible for JobKeeper, as the extension period for the wage subsidy comes into place this week. “There are some key dates to keep in mind, and simple steps employers can take now, so they are ready for the changes, […]
The Federal Government has announced changes to responsible lending laws in the hopes of boosting Australia’s flow of credit. Under the changes, consumers will be able to access credit more easily and quickly. Whilst responsible lending provisions do not apply to small business lending, these reforms have a large impact upon household credit. “As Australia […]
