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Economy
  • July 3 2019 Six reasons to consider trade credit insurance in the new financial year

    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 Read More…

  • July 2 2019 60% of small businesses shut down within first 3 years: H&R Block has ‘Grants for Growth’ to stop it

    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 Read More…

  • June 24 2019 New Xero report: Late payments cost small businesses $7billion a year

    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 Read More…

  • June 21 2019 Three ways politics impacts your business

    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 Read More…

  • May 22 2019 Australian SMEs still suffering; says broker community

    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 Read More…

  • May 20 2019 Robots could help Aussie businesses save more than $100 million in energy costs

    Robots are helping Australian businesses navigate the complex energy market and save millions of dollars in energy costs. Data released today by Australian technology company BidEnergy shows that over the last 12 months robots found savings totalling $2.6 million in 822 instances. For one large enterprise customer, robots found a saving of more than $25,000 Read More…

  • May 14 2019 Confidence slips after RBA holds rate: ANZ

    Consumer confidence fell last week as Australians’ perception of the economy at large took a sharp negative turn following the central bank’s decision not to cut the cash rate, ANZ analysts say. The ANZ-Roy Morgan Australian Consumer Confidence index slid by 2.1 per cent from the previous week, with the “time to buy a household Read More…

  • May 13 2019 Eight-speed economy the new challenge for business

    A Brisbane-based advisory firm says Australia is facing an eight-speed economy as an avalanche of conflicting forces converge to create an unprecedented air of uncertainty for business owners. Director Andrew Crealy says when the mining boom was in full swing a decade ago, businesses were grappling with a two-speed economy. “Put simply, this concept explained Read More…

  • May 10 2019 A comparison of Coalition & ALP small business policies

    Today the Council of Small Business Organisations Australia (COSBOA) has released comparison findings on the policies proposed by the Coalition and the Australian Labor Party (ALP) that will effect small businesses. The policies were assessed based on areas considered to be of high importance to the small business community. As part of the findings, COSBOA Read More…

  • May 7 2019 Aussie SME confidence falls on fears of slowing economy

    The March Quarter 2019 Sensis Business Index, released Tuesday 7 May 2019, reveals Australian small and medium business (SMB) confidence fell significantly across the country during the first quarter of the year as concerns about the health of the economy grew. The report, which measures SMB activity, expectations and confidence over a three-month period, found Read More…

  • May 6 2019 Westpac H1 profit falls 22% to $3.296b

    Westpac chief executive Brian Hartzer says the bank’s first-half results are disappointing. Westpac has held its interim dividend despite the cost of refunding customers helping drag down first-half profit by 22 per cent to $3.296 billion.   Australia’s second largest bank set aside $617 million to cover refunds and associated costs following the financial services royal Read More…

  • April 29 2019 NSW economy retains pole position

    Consistent strength across the board sees NSW retain pole position according to CommSec’s latest State of the States report released today. Of the key economic indicators considered in the report – including economic growth, retail spending, and unemployment – NSW is consistently strong, ranking second in seven of the eight indicators. Treasurer Dominic Perrottet said Read More…

  • April 26 2019 Morrison: Interest rate cut up to RBA

    Prime Minister Scott Morrison won’t be drawn on a possible interest rate cut by the Reserve Bank, saying any reduction is a decision for the independent central bank. Financial markets see an increased likelihood of a cut in the 1.5 per cent cash rate after inflation figures released this week showed the annual rate unexpectedly Read More…

  • April 26 2019 How to navigate a tough economy

    Ask any established business owner/manager if they have a marketing budget and you will hear a resounding “Yes”. It’s an essential part of their growth strategy and keeping connected to their market. The average marketing budget ranges from 3-8% of revenue, however, many forget the employment costs of marketing managers and sales people which adds Read More…

  • April 17 2019 Let’s Talk: The big 4 banks

    This week we hear from two leaders on the big 4 banks, discussing whether they are becoming redundant to small business. It is becoming increasingly challenging for small and medium enterprises to secure bank finance as rejection figures are on the rise.  An analysis of business loans by financial comparison site Mozo.com.au has found staying loyal to Read More…

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