Specialist advisers can now apply for grants from the Federal Government to help small business employers in metropolitan and regional areas take advantage of digital opportunities. As part of its Australian Small Business Advisory Services (ASBAS) program, the Federal Government will invest up to $18.02million over three years on the provision of low cost, high […]
Small businesses contacted the Australian Competition & Consumer Commission (ACCC) nearly 5000 times in the second half of 2017, up from 3700 in the preceding six months, according to a new report. The ACCC’s latest Small business in focus report, covering July to December 2017, shows small businesses made 2365 enquiries to the Commission along […]
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 […]
There’s a common misconception in the small business world that being your own boss means you sacrifice a healthy work/life balance. While putting in extra hours can be important, particularly in the early stages of your journey, there are certain tricks and systems you can put in place to ensure your business will thrive in […]
As anyone who starts a business will tell you, the time and effort required to move from startup to sustainable small business is intense and as a founder you’re always juggling roles and priorities. In this process. you also usually work out where your time is best spent and the need for delegation in order to […]
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 […]
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 […]
Despite containing some positive initiatives for small business, the revised Banking Code of Practice hasn’t resolved issues with power imbalance and dispute resolution, according to Small Business and Family Enterprise Ombudsman, Kate Carnell. The Ombudsman was consulted on a draft version of the code, provided to ASIC this week for approval; however, she said she […]
A cabinet reshuffle has been announced by Prime Minister, with Michaelia Cash named Minister for Jobs and Innovation, and Craig Laundy promoted to Minister for Small and Family Business, Workplaces and Deregulation. Cash, formerly the Minister for Employment and Women, assumes responsibility for a new portfolio focused on jobs creation as part of her reassignment. […]
The summer holidays are quite often the only time of year when business owners have the freedom to think about their business without getting caught up in the day-to-day running of it. Following a reflection on the year that was, thoughts usually turn to how to grow and develop the business during the forthcoming year. If […]
