News
Yahoo has recorded an 80 percent drop in first quarter profit as online advertising slows, with many companies reducing their marketing spend in light of the financial crisis. Yahoo said first-quarter net income fell to $US117.6 million ($165.7 million), from $US536.8 million in the same period a year earlier. The decline is said to be […]
First home buyers are flooding into the market aided by low interest rates and the first home buyers grant, however this is causing a considerable amount of debt, with the average first home buyer borrowing $51,000 more than those who took out a mortgage 12 months ago. New analysis conducted by first home buyer website, […]
Research conducted by Universities Australia has indicated that investing in higher education could boost the economy. The KPMG study estimates the return on investment in higher education to be 14-15 percent, double the benchmark set for good investment at the long-term bond rate of 6-7 percent. Universities Australia has called on the Government to invest […]
The Federal Government is set to crack down on tax cheats, who exploit legal loopholes, in order to create more jobs and boost the economy. According to News Limited reports, the Government will target tax breaks used by the wealthy. One tax measure being considered by the Government is abolishing a loophole that allows hobby […]
A Senate inquiry into the Government’s proposed Emissions Trading Scheme (ETS) has heard the scheme should be put on hold until the economy recovers, according to Caltex Australia Ltd. spokesman Frank Topham. He said emissions were less likely to rise during tough economic times and a delay would be appropriate. “We believe (the ETS) should […]
The ANZ’s decision to provide specialist assistance to small businesses experiencing difficulties in the current climate, has been welcomed by Federal Small Business Minister Craig Emerson. Last week Dr Emerson met with representatives of the major banks and the Australian Bankers Association to discuss ways that the banks can reach out to small business, and […]
The National Independent Retailers Association has called for a third round of economic stimulus from the Federal Government, specifically targeted to small business. According to Assosciation president Bob Stanton, recent cash injections have only assisted big business and supported overseas product suppliers, and that more should be done to boost the small business sector. However, […]
In an address to the Australian Institute of Company Directors in Adelaide yesterday, RBA Governor Glenn Stevens confirmed that Australia is in fact in a recession. In his “Road to Recovery” speech, Mr Stevens pointed to a global recession, with virtually all of Australia’s trading partners contracting. “Whether or not the next GDP statistic, due […]
One of Apple’s new iPhone ads is targeting small business by showing them how they can use iPhone applications to process credit card transactions, print shipping labels and check on the delivery of an order. In an effort to offer a variety of business solutions for small business, the ad claims “there’s an app for […]
ANZ has today announced they are extending their support to small business, providing specialist assistance to small businesses experiencing difficulties in the current climate. This follows on from Small Business Minister Craig Emerson’s call to the big banks to support small business by providing adequate credit flows. The new ANZ program will support small businesses […]
VMware, the global leader in virtualisation solutions for business, have announced the VMware vSphere 4, the industry’s first operating system for building the internal cloud, enabling the delivery of efficient, flexible and reliable IT as a service. With particular focus on the small and medium business market, the new system will enable small businesses to […]
Australian businesses remain optimistic about overseas operations despite the global downturn, according to results from the Export Finance and Insurance Corporation’s (EFIC) second annual Global Readiness Index, which charts the international experiences of Australian companies. Respondents from more than 80 percent of companies with offshore operations indicated they plan to expand them; more than 40 […]
In yet another blow to consumers, the big banks have indicated they will raise their interest rates on fixed rate mortgages, with the Commonwealth Bank announcing they will increase theirs by between 20 basis points and 45 basis points. The bank’s reasoning behind the decision has stemmed from recent increases in the wholesale market swap […]
Prime Minister Kevin Rudd has conceded that the economy will be dragged into a recession. Previously avoiding the dreaded “R” word, Mr Rudd’s concession came after advice from economists that the economy is already in a recession and that Australia’s weakening trading partners is pushing the nation’s economy down. “The worst global economic recession in […]
New research into the Australian franchising industry has suggested that as newspaper advertising revenue drops, savvy franchisers will turn to cost effective online and word of mouth strategies to recruit new franchisees. The Franchisor Expansion Study by market intelligence organisation 10 THOUSAND FEET revealed that the Australian Franchise Industry is fairing well in the downturn, […]
Credit card and personal loan applications have fallen by 13 percent in the first three months of 2009 compared to the same time last year, according to Veda Advantage’s Consumer Credit Demand Index. Rory Matthews, Veda Advantage CEO, said the significant decreases in credit card and personal loan enquiries are in line with expectations, as […]
Low interest rates and government grants have led to inflated housing prices according to Adrian Raftery, CEO of accountantsRus. Raftery says that activities over the last few months have led to unhealthy, yet familiar symptoms as property prices rise as prospective first home owners rush to get the First Home Owners Grant before 30 June. […]
Cutting down on staff during the recession as a cost-cutting measure could actually hinder a business’ growth and profitbability rather than help it, says Nic Clark, CEO of national business development franchise 10X Limited. Recent studies conducted by the Certified Practicing Accountants of Australia (CPA) have shown that half of all businesses that cut down […]
Cisco is calling on all small and medium businesses to participate in their “Cisco Changing the Game” Competition, by sharing the types of business communication challenges they face, and how Cisco could solve them. Entry is open to Australian businesses with between one and 250 employees, with participants given the chance to win 1 of […]
According to the March Australian Retailers Index released today, almost one quarter of small to medium retailers have downsized their staff numbers in the last three months. However, 65 percent have kept up staffing levels and 11 percent have hired more staff in the same period. Although lower consumer confidence is hurting the retail sector, […]
