News
The Australian Competition and Consumer Commission (ACCC) will conduct an inquiry into the effect digital platforms such as Facebook and Google are having on competition in media and advertising services markets. ACCC Chairman Rod Sims said the commission will examine whether digital search engines, social media platforms and other digital content aggregation platforms are exercising […]
The Small Business Ombudsman has launched an inquiry into access to justice for small businesses, explaining the current legal system puts them in “no man’s land”. According to Kate Carnell, small business operators are at “the wrong end of a power imbalance” in dealings with big business and governments. “Consumer protections don’t always apply to […]
Although it’s becoming easier for startups to raise capital in Australia, high-growth companies are hamstrung by a shallow pool of global talent, warned Alex McCauley, CEO of StartupAUS and lead author of the 2017 Crossroads Report. The report, a comprehensive review of the nation’s startup ecosystem, features a state-by-state brief on the progress of local startup […]
The Australian Small Business and Family Enterprise Ombudsman has today released a study into factors impacting small to medium enterprise investment. According to Ombudsman Kate Carnell, SME investment is being impeded by limited access to capital as well as red tape and energy prices and that removing these barriers would “give them confidence to grow […]
With Amazon having its soft launch in Australia, today, Dynamic Business spoke with Dominique Lamb, the CEO of the National Retail Association (NRA) who admitted the ecommerce giant was a ‘worthy opponent’ for local retailers but one that can’t satisfy demand for ‘retail as entertainment’. [Related: Let’s Talk… Ecommerce and If you can’t beat them, join […]
The Federal Government will begin paying small business suppliers ten calendar days sooner to improve their cashflow, it has been announced. Under the Government’s revised ‘pay on time’ policy, Small Business Minister Michael McCormack said federal agencies and entities will be required to pay invoices for contracts worth up to $1 million within 20 calendar […]
High-profile entrepreneur Mark Bouris will head up a taskforce established by the Federal Government to encourage small businesses to adopt digital technologies that will streamline their operations. Bouris will be joined on the Small Business Digital Taskforce by Spiro Pappas (Executive General Manager of Global Institutional Banking at NAB), Pip Marlow (former MD, Microsoft Australia), […]
Although women continue to earn less than men in full-time employment and they remain underrepresented on company boards, more employers are taking action on gender equality, according to data released by the Workplace Gender Equality Agency. The agency’s fourth annual gender equality scorecard, which covers over four million employees and 11,000 employers, shows that in […]
Ten Australian companies have been named amongst the top 100 fintechs globally, with three – Prospa, zipMoney and AfterPay Touch – landing a place inside the top 50. The Fintech100 report, now in its fourth year, is a collaboration between KPMG and fintech investment firm H2 Ventures that recognises innovative fintechs. It consists of two […]
Cloud accounting provider Reckon is selling a 120-person division to rival MYOB for $180 million as it looks to – in the words of Group CEO Clive Rabie – “narrow [its] focus on the small business accounting software market”. Subject to regulatory approval by the ACCC and the NZCC, MYOB will acquire the assets of […]
Australia’s small businesses have been slow to leverage technology that would improve the customer service experience even though consumers are increasingly turning to large organisations to satisfy their spending needs, according to Katrina Konstas, Vice President Small Merchant JAPA, American Express. Konstas spoke with Dynamic Business about findings from American Express’ Economy of Shopping Small: […]
A review of publicly available data on capital raises undertaken by Victorian startups and scaleups over the past five years shows that 385 firms closed 510 investment deals, worth a combined total of $790 million. Commissioned by LaunchVic, the dandolpartners review also found that: The median seed investment was $100,000 while the median angel investment […]
A survey of 1280 SME operators has found that nearly half (49.6%) had relied on unfair contract terms legislation, implemented last year, to negotiate fairer terms with big businesses during the past six months. Conducted by East & Partners, the SME Transaction Banking survey also showed that nearly four in five respondents (78.2%) were aware […]
The Australian Competition & Consumer Commission (ACCC) says its only at the ‘tip of the iceberg’ in terms of its efforts to ensure small businesses are not subject to unfair contract terms. Since 12 November last year, when unfair contract terms laws were extended to small business contracts, the ACCC has taken successful court action […]
The Federal Court has found that accommodation provider Meriton engaged in misleading or deceptive conduct by implementing a strategy to minimise the number of negative reviews its guests posted on the TripAdvisor website. In November 2016, the Australian Competition & Consumer Commission (ACCC) instituted proceedings against Meriton in the Federal Court, alleging that between November […]
The cardboard box of business receipts are now closed for small business owners across the country and it’s time to move from dealing with accountants and tax agents to focusing on the future. Getting things right for the next phase of growth comes down to setting the right foundation. So, how can you ensure you’re […]
China’s booming economy and rapidly growing middle-class present a wealth of opportunities for Australian businesses, particularly those companies able to tap into the rising demand for high quality goods and services. But many local SMEs with international expansion goals have discovered it’s not as simple as heading overseas and establishing operations. In a culture such […]
Deputy Premier and Minister for Regional NSW John Barilaro has announced a new $500,000 Murray Darling Regional Business Accelerator Program fund to support businesses in the Murray Darling Basin to undertake new marketing or technology projects. Barilaro said the program will offer matched funding up to $10,000 for activities including website development, digital media campaigns, or new […]
The NSW Government has awarded a total of $200,000 in funding to ten programs encouraging leadership and economic empowerment for women. The Investing in Women funding program offers grants of up to $25,000 per project for organisations that demonstrate practical and direct ways to engage and support women. Minister for Women, Tanya Davies, said the […]
Australia’s SMEs are increasingly turning to short-term freelancers in a bid to reduce their overheads, according to MYOB. As part of its SME Snapshot for November, the cloud accounting provider surveyed 395 SMEs about the freelancing economy. Of the SMEs that had used a freelancer in the last six months, a majority (89%) indicated they […]
