Economy
A national business poll has been released showing one in three SMEs are considering closing or selling their business within the next six months, due to the impact of the COVID-19 recession, unless there is a significant improvement in conditions. The poll conducted by ScotPac, Australia and New Zealand’s largest non-bank SME lender, has also […]
In a digital address to the McKell Institute today, Shadow Minister for Innovation, Technology and the Future of Work Clare O’Neil warned of the “tsunami coming for workers in predominantly male industries.” In June, Ms O’Neil outlined how COVID-19 disproportionately affected women because of the havoc it wreaked on female-dominated industries such as hospitality and […]
Australia is technically out of a recession however this does not mean Australia’s recovery will be smooth-sailing. At a Senate estimates hearing on Tuesday, RBA deputy governor Guy Debelle revealed that Australia’s economy grew in the September quarter. When asked about Victoria’s economy by Senator Bridget McKenzie, Dr Debelle surmised that Victoria’s economy appeared to […]
With under a week until the 2020 US Presidential elections on Tuesday, 3 November, economists and investors are looking to predict the way various outcomes could affect Australian businesses. The US economy is the world’s largest economy, and Australia has a very close economic relationship with the USA. In 2016 alone, exports to Australia generated 264,000 […]
China is the world’s first major economy to grow after COVID-19, after reporting a positive GDP for Quarter 3. The latest economic data from National Bureau of Statistics of China has shown a 4.9 per cent GDP growth in the third quarter, a positive sign after a -6.8 per cent GDP plummet in quarter one […]
Mark Pesce is a leading futurist, author, entrepreneur, speaker, podcaster and innovator. He has been at the forefront of the digital revolution for thirty-five years and is a sought-after keynote speaker for major conferences and leadership gatherings. Mark aims to bring clarity, understanding and insight. From virtual reality to education, finance, manufacturing, transportation and communication, Mark gives individuals and […]
Guest authored by Sam Allert, CEO of Reckon With 23 per cent of small businesses concerned they won’t exist this time next year without Government support, there were many eager business owners waiting to hear what the Budget delivered on Tuesday evening. A pre-budget survey conducted by Reckon interviewed over 1000 small businesses and found […]
This year, Australia will see a $213.7 billion deficit. “Our economic response has come at a significant cost,” said Treasurer Frydenberg in his address on Tuesday evening. The deficit is expected to fall to $66.9 billion by 2023-24. Net debt will increase to $703 billion (36 per cent of GDP this year) and peak at $966 billion (44 […]
As the Federal Government hands down the “most important budget since World War II” this evening, Australians can expect to see further tax cuts and a $200 billion deficit for the 2020/21 financial year. Whilst having been warned of a debt and deficit disaster, the government has acknowledged that to grow the economy they should […]
Guest authored by Robert Francis, Australian Managing Director of investing platform eToro. Two of the globe’s biggest tech powerhouses, Apple (AAPL) and Tesla (TSLA) made headlines recently when they undertook a stock split in August. Apple split its stock on a 4-for-1 basis and Tesla split its stock 5-for-1. But what does this actually mean? […]
The NSW Government have announced that major sporting events at selected Sydney stadiums will be able to increase their capacity from October 1. Based on updated health advice, Stadium Australia and Bankwest Stadium will be able to host ticketed, seated-only events with crowds increasing from 25 to 50 per cent capacity. The SCG has also […]
The NSW Government has released a 24-Hour Economy Strategy to revamp Sydney’s nightlife, support local businesses and create more jobs in the wake of COVID-19. The strategy will be driven by a new Coordinator General tasked with unlocking the city’s cultural and economic potential by bringing stakeholders together from across industry and councils and looking […]
The ABS confirmed Australia’s first recession since 1990 after recording two consecutive quarters of economic decline. After being hammered by the pandemic, bushfires and drought, Australia’s GDP plunged by 7 per cent in the April-June quarter. This follows a 0.3 per cent fall in the previous quarter. The 7 per cent fall is also the […]
Treasurer Josh Frydenberg has lashed out at Victorian Premier Daniel Andrews over the premier’s handling of COVID-19 during a heated interview with ABC News Breakfast. The Morrison Government is demanding that the premier state what the appropriate level of new cases in Victoria would be for him to open up Stage 4 restrictions. They are […]
Save the date: Thursday, 25th June 2020 | 12:30 p.m. AEST As the economy starts to reopen, every business needs to assess their situation and start planning for what’s next. Having a strategy to operate during periods of great uncertainty is important to help businesses adapt and make the right decisions. Join Oracle NetSuite, Hunter […]
With the global economy looking fragile and one of Australia’s largest trading partners, China, slowing down, it’s important for Australian business decision-makers to re-evaluate their position as the new financial year begins, according to Atradius. Mark Hoppe, managing director, Oceania, Atradius, said, “The start of the new financial year is traditionally an ideal opportunity for […]
With more than 60% [1] of small businesses shutting down within their first three years, Australia’s leading tax accountants, H&R Block are offering small business and start-up’s a helping hand with the initiative; ’Grants for Growth’. Now in its second year, the grant offers support to budding entrepreneurs who need an extra boost to transform […]
A new report from Xero, the global small business platform, reveals for the first time the magnitude and impact of late payments to Australian small businesses, putting the value of outstanding, late payments at $115 billion a year. The research finds that half of all trade credit invoices are paid late and that solving the […]
You may not personally want to be involved in modern politics but if you want to run a business you have to be aware how the laws of the land can affect your bottom line. Tax laws, business treaties, tariffs, and commerce in general is impacted by politics. Sometimes having a degree in political management […]
The people that small business owners turn to for independent advice believe that cashflow management and access to finance are only getting harder for SME businesses. A recent poll of the finance broker community, commissioned by Apricity Finance, has demonstrated that the key challenge of cashflow continues to drive the demand for small business finance […]
