In the modern business era, technology that was once the stuff of science fiction (hello robots) is now a reality – or, at the very least, a near-future prospect – with massive benefits for organisations that leverage it. It makes one wonder… what will be the next big game changer in business technology? That’s […]
SMEs are vulnerable to late payers in Australia, with Small Business Ombudsman Kate Carnell stating, in April, that larger organisations are using them as a “cheap form of finance”, restricting their growth and causing solvency issues. From calls for legislation to the introduction of a voluntary code to deter late payments, late payments have never […]
Sydney fintech startup Waddle is expanding into New Zealand due to strong interest for its cloud-based funding software technology amongst SMEs from the neighbouring nation, its co-founders explained. Founded in 2014 by high-school friends Simon Creighton, Leigh Dunsford and Nathan Andrews, the SME lender integrates with accounting software platforms and provides businesses with a real-time view […]
Small business owners are increasingly embracing the 80:20 travel trend, whereby 80% of their holidays are reserved for leisure with the remaining 20% dedicated to work, according to Xero’s Travel Habits Report. Key findings from the report, which compares the travel habits of 400 working Australians and 400 small business owners, include: 48% of business […]
More than half a million small businesses stand to benefit from tax cuts included in the 2017-18 NSW Budget, according to Treasurer Dominic Perrottet. In a statement, released yesterday, the Treasurer announced: “From 1 January 2018, the NSW Government will abolish insurance duty for small businesses on commercial vehicle insurance (including aircraft), professional indemnity insurance, […]
Women have ‘boundless potential’ to lead multi-million dollar businesses but many are being held back by a lack of financial literacy, says Tanya Titman, the founder of Acceler8 Academy, a growth program for female-led SMEs, and Consolid8, Xero’s 2016 Accounting Partner of the Year. Having assisted over 200 female founders to scale their businesses through […]
By extending payment times to small businesses in the supply chain, large Australian and multinational organisations are effectively using them as ‘a cheap form of finance’, according to a new report by the Small Business and Family Enterprise Ombudsman (ASBFEO). The report, which responds to the Ombudsman’s inquiry into payment times and practices, highlighted the […]
Competition reforms tabled in Federal Parliament this week backs small businesses to grow, innovate and create more jobs, according to Small Business Minister Michael McCormack. He said the Competition and Consumer Amendment (Competition Policy Review) Bill 2017 implements a number of recommendations from a landmark review of Australian competition policy to help small businesses to compete […]
Coinciding with the anticipated release of the Small Business Ombudsman’s report on its inquiry into payment times and practices, American Express has released research showing mid-sized Australian businesses owe $8 billion in outstanding payments to suppliers, with more than $2 billion currently overdue. According to Martin Seward, VP, Small & Medium Enterprises at American Express Australia, […]
We hear over and over again that businesses need to innovate otherwise they risk being chewed up and spat out by disruptive forces. But creating a company culture where people can be innovative is easier said than done. I recently sat down to talk about innovation with Xero’s former Managing Director, Chris Ridd. Ridd made an […]
