Aussie start-ups are fleeing abroad, lured by Silicon Valley, which is undoubtedly the best place to nurture a tech business. That said, all is not lost in Australia and you just need to look a little harder for the support and success stories.
The Commonwealth Bank is giving the small to medium business community a chance to share in a $30,000 support package, in an attempt to help the sector that accounts for more than 35 percent of Australia’s economy.
Small to medium ICT businesses are being invited to apply for up to $50,000 in funding from the ACS Foundation (ACSF), which has just been recognised as an Eligible Research Organisation under the Department of Innovation, Industry, Science and Research’s Enterprise Connect, Researchers in Business program.
The plunging property market will put a number of small businesses at risk, particularly start-ups that often secure finance using the value of their homes, according to Rob Lamers, CEO of Oxford Funding, a subsidiary of Bendigo and Adelaide Bank.