News
The Reserve Bank has cut the interest rate to a record-low 0.25 per cent in an historic suite of economic support to cushion the blow of the coronavirus pandemic. The widely anticipated emergency rate cut means the central bank has also pulled the trigger on its first-ever quantitative easing program in a bid to boost […]
Finance Minister Mathias Cormann has signalled an unprecedented economic stimulus package to fight the impact of the coronavirus pandemic. The Morrison government is considering a second round of measures to add to its $17.6 billion economic boost announced last week. Senator Cormann said businesses would close while people lost jobs during the pandemic that’s sweeping […]
Australian business leaders and regulators are trying everything in their power to prevent financial ruin from the coronavirus pandemic. Dedicated shopping hours for people with disabilities, social distancing at casinos and emergency cash injections by regulators – Australian business is responding to the coronavirus pandemic in inventive ways. COVID-19’s impact on Australia is changing daily life […]
As Australian businesses brace for the impact of Coronavirus, we take a look at how brands around the world are already adapting. In a much-shared blog post, Sequoia Capital – Silicon Valley’s biggest venture capital firm – declared coronavirus (COVID-19) the ‘black swan of 2020.’ A rare, unforeseen event that carries potentially severe consequences. I’m sure the […]
The Morrison government is looking to avoid a recession in the wake of the coronavirus outbreak, with a $23 billion stimulus package to boost the economy. Prime Minister Scott Morrison on Thursday outlined initial measures of the $22.9 billion package. The stimulus package aims to prevent the Australian economy entering a recession as the globe […]
All of the big four banks have passed on the full Reserve Bank of Australia cash rate which yesterday was cut to a record low of 0.5%. Westpac was the first to break the silence, with CBA, NAB and ANZ following suit in passing on the full cut to home loan customers. This is largely […]
The Reserve Bank of Australia has today made the decision to cut the cash rate to a record low of 0.5 per cent. Widely anticipated and expected, the decision was made in response to the economic effects of the coronavirus. The rate has come down from the 0.75 per cent rate which was announced last […]
Kate Carnell, the Australian Small Business and Family Enterprise Ombudsman (ASBFEO), urged senators to pass the Australian Business Growth Fund Bill on Wednesday. Ms. Carnell explained that the bill would significantly encourage growth and promote economic expansion for small and medium-sized businesses around the country. “We strongly support the investment by the Commonwealth in the […]
Age is the greatest barrier to opportunities at work, according to findings in LinkedIn’s 2020 Opportunity Index. The report sought to understand how people perceive employment opportunities and the gaps in achieving those opportunities. Baby Boomers are the most likely to perceive age as a barrier, with almost half of Baby Boomers concerned about age, followed […]
Only a few big businesses, such as Telstra and Rio Tinto, have done ‘the right thing’ according to Australian Small Business Ombudsman Kate Carnell, in terms of addressing late payments. Late payments is a huge problem for the Australian small business community, with a Xero report last June (2019) citing a loss of $7 billion per […]
Sydney-based payment processing company, ezyCollect, has raised $7.1 million across two rounds in the past 15 months. AJ Singh and Raj Kuckreja, who founded the fintech in 2015, have a range of investors from Tankstream, Artesian, Macdoch Ventures, Sydney Angels and Adrian Di Marco, founder of Technology One. The company helps over 1000 businesses across […]
Two thirds of Australians are planning to ask for a pay rise this year according to The Adecco Group’s 2020 Australia Salary Guide. Those working in the IT sector are the most likely to ask for a pay rise in 2020, followed by manufacturing and business service sectors. This is despite the size of pay […]
The top execs of Neobanks are shocked at the huge demand they are receiving from potential customers. To put the demand into perspective, one Neobank – Xinja – has amassed an impressive $100 million in deposits in a time frame of just 19 days. The challenger banks, which are 100% digital, are collectively signing hundreds of […]
Entrepreneurs looking for their next business adventure this year may need to think outside the box, experts suggest. Apart from traditionally popular sectors for startups – such as retail, technology and finance – wellness industries are also set for explosive growth. According to Melbourne creative platform 99designs and its recent data collection, astrology, cannabidiol (CBD), […]
The Reserve Bank of Australia has held the cash rate at a record low 0.75 per cent and had “surprisingly” little to say about the headwinds presented by the catastrophic summer bushfires and coronavirus crisis. RBA Governor Philip Lowe has cited improved unemployment figures for December, low borrowing costs, recent tax refunds and improved property […]
We have a compiled list of the 5 most valuable companies in the world at the moment, based on current stock market valuations. Number one may come as a surprise, and maybe you didn’t realise Google has a parent company…. but the household names are definitely up there and probably won’t shock you. Google parent […]
Retail spending jumped by a better than expected 0.9 per cent in November, easily beating economist forecasts of a 0.4 per cent increase. November’s Black Friday sales fuelled a better-than-expected monthly retail turnover, but economists are wary of how much of the 0.9 per cent increase would previously have been spent during December. Consumers shelled […]
The Council of Small Business Organisations Australia (COSBOA) has called for a focus on policy adaptation on national disasters to protect small business owners throughout the next decade. “The next decade must be about policy adaptation on key national issues,” said Peter Strong, CEO of COSBOA, following the devastating impact of the bushfires and drought […]
Small Business and Family Enterprise Ombudsman, Kate Carnell, has spoken out on the recently approved new version of the Banking of Code of Practice – a set of enforceable standards that small businesses can expect from Australian banks. The updates come into effect in March this year and was only last updated in July last […]
Emergency Management Minister David Littleproud is developing an assistance package for businesses affected by the bushfires raging across Australia. The government is currently offering a one-off $1000 payment for bushfire victims, as well as 13 weeks of income support. Mr Littleproud said he would announce a program in the coming days that will see bushfire-affected […]
