There was a lot going on in small business news this week: from the tampon tax being axed to SME confidence falling. Dynamic Business has picked the best snippets of the week to make sure you are caught up for next week!
Australian women will no longer have to pay GST on tampons and sanitary pads, after the states and territories finally agreed to abolish the tax on feminine hygiene products. After an 18-year public campaign which began when the GST was introduced, the 10 per cent tax on women’s products will be ditched from January 1.
Australia’s small businesses are doing it tough, but I believe they have a bright future because I see great innovation, entrepreneurship and resilience from many of the 550,000 customers I serve. For some time now the economic climate has been challenging for the small business community who have barely registered a positive quarter since the GFC. Move 10 years on and small businesses are still struggling with economic uncertainty and instability.
Joining an accelerator or incubator is sometimes the first thing a startup founder does to get their business off the ground. Sometimes a startup’s success can be solely due to an incubator but other times it can be a time waster. Startup founders need to consider certain important things before joining an accelerator or incubator. Startup founders also need to ensure that they are joining the correct incubator that suits their needs.
Have a wonderful weekend and we’ll be back with great headlines on Monday!