The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, has encouraged small businesses that have suffered from ‘questionable conduct’ by the banks to tell the Royal Commission into misconduct in the banking industry, now underway. Regarding the Royal Commission, Carnell told Dynamic Business that she’d like to see small businesses share examples of “scenarios […]
The benefits small businesses derive from a competitive financial system are being reduced by the regulators in their “quest for stability”, the Productivity Commission (PC) has found. The finding, contained in a draft PC report titled Competition in the Australian Financial System, is supported by the Australian Small Business and Family Enterprise Ombudsman (ASBFEO), Kate […]
The peak body for Australia’s fintech industry has urged Federal Parliament to prioritise a ‘vital new source of funds’ for SMEs by expediting the approval and implementation of private company equity crowdfunding legislation introduced in September 2017. According to FinTech Australia chair Stuart Stoyan, the Corporations Amendment (Crowd-sourced Funding for Proprietary Companies) Bill 2017 has […]
The size limitations of the Australian domestic market mean that in particular sectors, small businesses struggle to achieve their growth potential. For many small businesses, these limitations can be resolved by tapping into much larger foreign markets that offer greater opportunities. The beauty industry in Australia is a good example. This market is a […]
A new year often gives business owners time to reflect on how to do things better in their organisation. What if the answer was: self-care for the boss (you)? ‘Busy’ is a common state for many business owners, but with great activity comes great responsibility – not just to ensure your staff are well looked […]
To beat the odds in small business, the focus for the first year must absolutely be on revenue creation. Without revenue, you have no business. But how much revenue should you be aiming for? Putting together your budget is the ideal time to define your longer-term vision for the business and ask yourself how big […]
The Institute of Public Accountants (IPA) has called for the Federal Government to improve the financial outlook of SMEs by introducing a loan guarantee scheme and legislating maximum payment times for business-to-business transactions. In its 2018 pre-Budget submission, the IPA – a professional accounting body representing 35,000 accountants, business advisers, academics and students – made […]
Microsoft Excel enjoys global superiority as the go to electronic spreadsheet for financial management and data collation. This status is well deserved as the business application has given in excess of 30 years of admirable and loyal service in helping companies track, forecast, analyse, and manipulate a wide range of business data. Despite its excellent […]
RBA data reveals the average interest on small business loans is the lowest it has been since at least 1993, with owners paying $9 billion less than they were six years ago, according to the Australian Bankers’ Association (ABA). Noting that small businesses are a significant driver of the economy, ABA Chief Economist Tony Pearson […]
Startup culture is booming in Australia, especially within the millennial marketplace. While creative freedom and drive is the backbone of many startups, it’ll likely take financial backing and investment for a business to reach its greatest success Some big ideas come at a large cost and the stability that a financial backer can supply to […]
