News
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, […]
Woolworths has been awarded the accolade of Australia’s most valuable brand, according to Brand Finance’s valuation of the world’s top 500 consumer names. Woolworths beat out previous leader the National Australia Bank, to rank 143rd best global brand as of December 2008. Brand Finance valued the Woolies name at $US4.6 billion, a gain of 5 […]
Prime Minister Kevin Rudd has urged business leaders to be more charitable and not to cut down on corporate philanthropy during the economic downturn. At the Australian Davos Connection’s Philanthropy Summit in Sydney over the weekend, Mr Rudd said corporate charity would help to boost the economy along with aiding struggling communities. “There is unfolding […]
A new survey commissioned by Optus Business has found that size really does matter when it comes to business wireless access, with large organisations more likely to provide staff with laptops, while small business employees are given smartphones. The survey of over 250 Australian businesses, found that 37 percent of large businesses will provide employees […]
China’s 4 trillion Chinese Yuan (AUD 905 billion) stimulus package is doing wonders for the economy, said China’s Premier Wen Jiabao on Saturday at the Boao Forum, despite the fact that the Chinese economy is slowing. According to the Premier the stimulus package is working “better than expected” and he is confident that China can […]
Treasurer Wayne Swan has urged banking executives to take a pay cut in order to get back in the good books with the Australian public. Australians are quickly losing faith in the banks, as credit for small business dwindles, with the big banks refusing to pass on the recent cut to interest rates made by […]
A recent report conducted by the Productivity Commission has shown that paid maternity leave would boost economic activity and create thousands of jobs. Labor is under increasing pressure to fund paid maternity leave in the next budget, after the report backed 18 weeks taxpayer-funded leave, paid at the minimum wage of $544 a week. An […]
