#Global Financial Crisis
Businesses spawned by the GFC are wired differently
One of the most unexpected trends to emerge from the Global Financial Crisis (GFC) and the recession that followed in many nations, was the number of new businesses which started up even though economic conditions were so difficult.
GFC has left SMEs ‘once bitten, twice shy’, report finds
Despite a degree of economic stability in Australia compared with elsewhere in the world, a lack of confidence and cost containment issues are threatening to blind local SMEs to future opportunities.
Businesses need to do more to survive new GFC conditions
The worst thing local businesses can do in the ‘new GFC’ conditions tipped for 2012 is ‘just try’ to survive. So, here’s some expert tips for surviving an economic slowdown.
5 ways to insulate your business in a downturn
If you’re scared that the latest financial shake-up may lead to a second GFC, you’re not alone. Fortunately there are strategies you can employ to run a business in an uncertain economic environment.
Global recession blamed for increase in workplace bullying
The Global Financial Crisis is being blamed as the cause of an increase in workplace bullying in Australia since the wake of the recession.
ANZ and St George have most satisfied customers
ANZ and St George Bank have emerged as the clear industry leaders in terms of business consumer’s satisfaction, a new report from the TNS Business Finance Monitor (BFM) has shown.
Australian unemployment figures shock markets
Australian unemployment figures for January have shocked the markets, with the unemployment rate falling 0.2 percent to 5.3 percent in seasonally adjusted terms. This comes as a surprise to the markets with the economy moving forward despite concerns over global growth numbers. At 12:00 (AEDT), the S&P/ASX200 was up 38.8 points, or 0.86 per cent, […]
Business growth funding options post-GFC
Business owners are no longer risking their personal assets to fund business growth as they ride out the effects of the global financial crisis (GFC). Debtor finance specialist, Oxford Funding observed that business owners are more concerned about risk exposure and are choosing funding strategies such as debtor finance that separates personal wealth and enterprise […]
Australian Govt free insulation safety scare
The Federal Government’s $2.45 billion free insulation scheme has come under fire from the ABC’s The 7:30 Report with 37,000 homes having had foil insulation installed which will now have to undergo an electrical safety inspection after an audit revealed more than 1,000 of them might have had their ceilings electrified. Taxpayers will spend up […]
Govt withdraws bank guarantee due to recovery
The Federal Governent has announced it will withdraw its guarantee of bank deposits, instituted during the global financial crisis to prevent investors’ money from being wiped out in the recession. The nation’s top finance regulators—including the Reserve Bank and the Australian Prudential Regulation Authority—advised the treasurer, Wayne Swan, over the weekend that bank funding conditions […]
Job vacancies fall six percent in January
IPA, one of Australia’s largest recruiting firms, showed job vacancies falling six percent throughout the month of January. The latest monthly data also documents a 73 percent surge in candidate applications throughout the same period. “The jump in applications reflects people acting on their New Year’s resolution to change roles,” said Rabieh Krayem, CEO of […]
Immigration cut to protect jobs
As the Australian economy slows, the Government has taken swift action to protect jobs by cutting the immigration intake by 14 percent. Immigration Minister, Chris Evans is set to announce a 14 percent cut to the skilled migration program, capping the number of workers entering Australia at 115,000, down from 133,500 in 2008-09. The decision […]
Charities hit hard by financial crisis
Charities have become the latest victims in the global financial crisis, with a growing number applying for funding to meet a rising demand for services. According to Perpetual, Australia’s largest manager of charitable trusts, 942 charities have applied for funding this year, up 26 percent on last year. The applications have totalled $60 million. With […]
World Bank predicts economic catastrophe
The global financial crisis is really starting to hit home with the World Bank predicting the global economy will shrink for the first time since World War II. The World Bank is predicting the crisis will force another 46 million people into poverty and developing countries will experience possible political unrest. The bank’s president Robert […]
Small business to benefit from Government Investment Allowance
Small businesses are being urged to take advantage of the Government’s 30 percent Investment Allowance before the June 30 2009 deadline.
The death of manufacturing?
Reports of the death of manufacturing have been greatly exaggerated, believes Ian Murray, executive director of the Australian Institute of Export (AIEx), citing advanced manufacturers Cochlear and Resmed as examples of companies that still produce in Australia, during yesterday’s panel session of the AIEx’s ‘Managing your export business in a turbulent global environment’ conference. Panellist […]
Financial crisis has Baby Boomers delaying retirement
According to a global study conducted by TNS, the global financial crisis has baby boomers running scared, with 44 percent of Australia boomers hinting they will have to postpone their retirement. The study looked at how the global financial crisis is affecting consumers in five key countries – the UK, France, Germany, the US and […]
No maternity pay but boost for pensioners
Department of Family and Community Services head Jeff Harmer will submit a review this week, with an expected recommendation to increase the single aged pension by up to $35 a week. The estimated cost to the government will be $2 billion a year for every $10 a week increase. The Productivity Commission’s final report on […]
A bun in the oven or a Cherry Ripe?
The issue of paid maternity leave (or lack thereof) has been back in the news this week and I have to say, as a woman without kids, I have only just looked into what all the fuss is about. Surely a civilised, developed country like Australia has adequate paid maternity leave provisions? (I should remind […]
The way to Gen Ys’ hearts
You might not say it to our face, but I reckon you think we’re lazy, self-obsessed, and lacking in work ethic. You might not snigger with satisfactory glee, but I bet you believe this global financial crisis is precisely what we need to be put in our place. And you might not clap your hands […]
Building business without waiting for customers
Despite the turbulence created by the global financial crisis, it remains smooth sailing for business growth across Australia. In 2008, there were 1668610 registered companies, according to the Australian Securities and Investment Commission (ASIC). That’s nearly 67000 more than at year’s end 2007. While there are plenty of reasons to start a company, there’s almost […]
Taking control of your business
With the global financial crisis affecting struggling businesses now more than ever, it is time for business owners to take back control with a ‘can do’ attitude to focus on how they can make their business a success, rather than agonise over factors beyond their control such as interest rates and the state of their […]