Tag: Asic

A jump in the number of businesses entering external administration should serve as a warning to SMBs to do research before taking on new customers, says a leading credit management expert.

There’s been a strong rise in the number of businesses entering external administration (EXAD) for the three months to September, as poor sales and increased creditor activity takes its toll.

The number of businesses entering external administration jumped almost 6 percent in the last financial year, with insolvency practitioners reporting more activity in the SME sector as a result of tighter Australian Taxation Office debt recovery.

Whether you’re running an established business or looking to start a brand new business getting the right advice is key to operating a successful venture. In Australia, small business owners have some high quality, inexpensive sources of advice and information that can help.

In Australia approximately 96 percent of businesses are “small”, so it seems odd that the banks prefer to lend for mortgages than business growth. Senior NAB executive Joseph Healy shared his views about how banks think and why small businesses struggle to get their help.

Auditors have reported a 40 percent increase in suspected breaches of the Corporations Act to the Australian Securities & Investments Commission in the last financial year.

Christopher Koch, formerly a high profile motivational speaker, has been sentenced to 13 years jail after being found guilty in the Melbourne County Court on charges brought by ASIC. Christopher Koch, formerly a high profile motivational speaker, has been sentenced to 13 years jail after being found guilty in the Melbourne County Court on charges brought by ASIC.

Regulation of the housing market is seen as the “next logical step” by Australian Securities and Investments Commission chief economist Alex Erskine as the watchdog claws for power.

ASIC will take on supervisory responsibility for Australia’s domestic licensed financial markets from 1 August 2010, The Government announced yesterday.

A guide to the unfair contract terms law, helps businesses understand their rights and obligations under the new Unfair Contract Terms (UCT) law which commences on July 1 this year.