News
Your potential customers will question you or your product before deciding to commit, but most startups don’t realise that they should do the same. [Related: To succeed, you’ll have to reject customers that aren’t the right fit for your business] What do you do with a business idea? Many entrepreneurs turn to their family and friends […]
The NSW Government has purchased a $3.3 million stake in Wagyu beef agribusiness Stone Axe Pastoral, marking the first time it has dipped into its $150 million Go NSW Equity Fund, unveiled last October. [Related: NSW Government set to secure equity in SMEs with ‘good ideas’ using new $150 million fund] Delivered in partnership with […]
With less than a day until mandatory data breach reporting laws take effect, a cybersecurity vendor has warned that while basic cyber hygiene isn’t “sexy”, businesses that fail to practice it risk incurring “headline-grabbing data breaches” that will instantly lose them customers. [Related: A last-minute guide to preparing your business for Australia’s new data breach regulations and Small businesses face […]
The Workplace Gender Equality Agency (WGEA) has awarded a record number of organisations its ‘Employer of Choice for Gender Equality’ (EOCGE) citation, this year. The 2017-18 EOCGE citation, which recognises employers who are actively commitd to achieving workplace gender equality in Australian, was received by 120 organisations across Australia. According to WGEA Director Libby […]
Airtasker co-founder Jonathan Lui has raised $1.65 million in seed capital for his second venture, the “LinkedIn for property” app Soho. [Related: Solo with Soho: Jonathan Lui on following up Airtasker with a ‘LinkedIn for property’ app and Jonathan Lui shares what he has learnt from establishing his new startup SOHO overseas] The seed round, […]
A new list ranking a thousand high-growth companies from across the Asia-Pacific Region features five Australian startups inside the top ten. The inaugural Financial Times (FT) 1000 High-Growth Companies Asia-Pacific list was compiled by market research company Statista, which ranked companies by their annual growth in revenues between 2013 and 2016. To make it onto […]
Being an entrepreneur, especially during the startup grind phase and often long taxing hours is not for the faint-hearted. Some people find it’s best to maintain their focus through eating nutritious food, exercising, getting high-quality sleep and wisely cutting out weekday alcohol. So important is the ability to remain at peak mental performance, that menshealth.com […]
A Productivity Commission will be established in NSW to spearhead a micro-economic reform agenda that includes a focus on reducing red tape for businesses, Treasurer Dominic Perrottet has announced. The first-ever NSW Productivity Commission, which will be led by a yet-to-be-appointed Productivity Commissioner, was announced at the NSW Business Chamber by Treasurer Dominic Perrottet, who […]
The Federal Government is acting to improve the integrity and operation of the business tax system by introducing legislation to close loopholes in the tax consolidation regime that create unintended tax outcomes, Minister for Revenue and Financial Services, Kelly O’Dwyer has announced. According to Minister O’Dwyer, the tax consolidation regime, in allowing wholly-owned corporate groups […]
Property Exchange Australia (PEXA), which has positioned itself as ‘the ASX for property settlements’, is facing a significant threat to its monopoly over the market from a potential new joint venture. PEXA is currently the only company in Australia licensed to settle property transactions electronically through its ELNO (Electronic Lodgement Network Operator) platform. However, it […]
The passage of legislation establishing the Australian Financial Complaints Authority (AFCA) will result in small businesses having access to “free, fast and binding” dispute resolution, according to Small Business Minister Craig Laundy. The Treasury Laws Amendment (Putting Consumers First – Establishment of the Australian Financial Complaints Authority) Bill establishes a one-stop shop for the resolution […]
The launch of the Sydney Startup Hub, today, has coincided with an announcement that Microsoft has signed up as a tenant and will run its acclaimed Scale-Up accelerator program from the new $35 million facility. Announced by the NSW Government in July 2017, the Sydney Startup Hub was funded by Jobs for NSW, which anticipates […]
The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, has encouraged small businesses that have suffered from ‘questionable conduct’ by the banks to tell the Royal Commission into misconduct in the banking industry, now underway. Regarding the Royal Commission, Carnell told Dynamic Business that she’d like to see small businesses share examples of “scenarios […]
A Senate committee has deemed it ‘wholly appropriate’ that employers pay a levy to access overseas workers; however, the Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, considers this “another blow” for small businesses. [Related article: Federal Budget: foreign worker tax introduced] In October, last year, the Federal Government introduced the Migration Amendment (Skilling Australians […]
Small businesses are falling short of meeting the needs and wants of digital-savvy customers due to a reliance on gut feelings and traditional ways of operating, according to Telstra Executive Director, Small Business, Brendan Donohoe. Commenting on the 2018 Telstra Small Business Intelligence Report, Donohoe said there was a gap between what customers want and […]
ANZ will refund $10.2 million to more than 52,000 business-held credit card accounts due to a failure to properly disclose fees and interest charges, according to financial services regulator ASIC. The bank reported to ASIC that it had failed to disclose – or had incorrectly disclosed – the following information to some of its ‘Business […]
The benefits small businesses derive from a competitive financial system are being reduced by the regulators in their “quest for stability”, the Productivity Commission (PC) has found. The finding, contained in a draft PC report titled Competition in the Australian Financial System, is supported by the Australian Small Business and Family Enterprise Ombudsman (ASBFEO), Kate […]
Twelve Australian businesses have been selected by the Federal Government to receive a combined $5.4 million worth of grants to help them commercialise their innovations. The Accelerating Commercialisation Grants, which provided under the Federal Government’s Entrepreneurs’ Programme, are available to businesses that have novel intellectual property with high growth potential. The aim to is to […]
By the age of retirement, the average working woman will have lost $160,000 in superannuation due to career breaks, according to REST Industry Super. To determine the financial impacts of career breaks on working Australians, the superannuation fund commissioned research, including a survey of 1030 men and women who had taken a career break of […]
The Federal Government is now seeking applications for grants of up to $7000 to help Australian researchers and SMEs work with overseas experts to develop and commercialise their projects. According to Minister for Jobs and Innovation, Michaelia Cash, the Global Connections Fund (GCF) Priming Grants empower organisations to collaborate in the global arena, link with […]
