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 […]
Tenants who received rent relief under the COVID-19 mandatory code of conduct will continue to receive concessions for at least six months after October 2020. Last week, the NSW Supreme Court found that luxury footwear retailer, Sneakerboy, will have until 30 April 2021 before its landlord can increase rent or evict it. What relief do […]
Business Australia reported that 6 out of 10 Australian SMEs reported sales losses up to 75 per cent this year. Only 18 per cent reported consistent revenue and a mere 9 per cent experienced a growth in sales during the pandemic. Richard Spencer, Chief Customer Experience Officer at Business Australia, offers a list of suggestions […]
Figuring out where to best invest your time and money is a difficult task. As businesses scale, leaders’ daily tasks become more and more unpredictable. When time becomes money, it is imperative that businesses effectively allocate their resources. We explore how business leaders have invested their time and money to generate successful outcomes. Mike Featherstone, […]
Employers breathe a sigh of relief as the Fair Work Commission releases draft flexibility clauses that help employers and employees discuss flexible working arrangements during and beyond COVID-19. On Monday, Fair Work Commission president Iain Ross published a “draft award flexibility schedule” outlining the ideas that modern awards could adopt to help SMEs achieve flexible […]
Jackie Vullinghs is a Principal at Airtree Ventures who invests in areas such as health, fintech, cybersecurity and AI. She studied history at Cambridge University and then had a diverse and fascinating career in investment banking and start-ups. She moved to Australia in 2017, bringing a wealth of knowledge in fintech, leadership and personal publishing. […]
The increasing preference for contactless payments during the COVID-19 pandemic might be here to stay. What payment trends are emerging? Mark Hodgson, Head of Product and Services at Samsung Electronics Australia, noted that there has been growing demand for cashless payment options. “Demand for digital wallet solutions and contactless payments have grown strongly this year […]
The NSW government announced today that regional, small and medium-sized businesses will be prioritised for all direct procurements up to $250,000. Deputy Premier and Minister for Regional NSW John Barilaro explained that the Small and Medium Enterprise (SME) and Regional Procurement Policy provides a much needed boost for businesses impacted by droughts, bushfires and COVID-19. […]
Despite the global economic slow-down, the shift to online spending and move from traditional forms of credit have boosted Afterpay’s position domestically and internationally. Afterpay announced today that it had doubled its revenue to $519.2 million. This is a 97 per cent increase from the 2019 financial year. Net losses are also down to $22.9 […]
The Victorian Essential Services Commission announced this week that it will introduce new mandatory requirements for energy retailers to provide “reasonable” assistance to small businesses in “financial distress” and support for residential customers. On 24 August, the commission released temporary coronavirus pandemic requirements to assist small businesses and residential customers in Victoria on top of […]
