In a rallying cry for the struggling small business sector, the Council of Small Business Organisations Australia (COSBOA) has pleaded to the government for more significant support for businesses ahead of the budget. With small businesses facing unprecedented challenges amidst a backdrop of plummeting sales and skyrocketing costs, COSBOA is hoping to secure vital… Read more »
The Budget handed down on Tuesday night will help small businesses deal with some of the contemporary challenges they face as they prepare for a forecast lower rate of economic growth and continued pressures on their businesses. However, more needs to be done, writes Australia’s Small Business and Family Enterprise Ombudsman, Bruce Billson. There’s… Read more »
The cost-of-living crisis is hitting all Australians hard, but for small businesses it hits twice as hard, as they navigate pressures on their personal finances paired with the business impact of a decrease in discretionary consumer spending, writes Helen Lea, Chief Employee Experience Officer, MYOB. But small businesses are the lifeblood of our economy,… Read more »
Surplus or not, the budget papers show us living through pretty awful times, writes Peter Martin, Crawford School of Public Policy, Australian National University. Living standards measured by the buying power of wages are set to go backwards in 2023-24, as wages are expected to grow by 3.75 per cent while prices rise by… Read more »
The 2023 Budget is a mixed bag for small business, with some relief provided but more measures needed to support the nation’s army of 2.5 million business owners. The Australian Small Business and Family Enterprise Ombudsman, Bruce Billson, says the budget announcements will help many small businesses with contemporary challenges. “There is support for… Read more »
Jarrod Ball, Chief Economist at CEDA (Committee for Economic Development of Australia), says the economy is doing most of the heavy lifting in the 2023 budget. “While that is the path of least pain for budget repair, it is also far from assured and carries significant risks in a difficult economic environment, even if… Read more »
While the 2023 Budget has provided some good news for small businesses and startups, with its Industry Growth program and investment in AI tech, the announcements have been met with a lack of enthusiasm from members of the startup sector. Chris Dahl, CEO of fintech Pin Payments has described the budget as a series… Read more »
Treasurer Jim Chalmers has delivered his second budget with a heavy focus on cost-of-living relief for Australians who are struggling due to persistently high inflation and rising interest rates. While Chalmers says the economy should continue to create jobs and unemployment is expected to remain historically low, inflation remains the top economic concern, write… Read more »
Ahead of the federal budget unveiling today, vulnerable female small business owners across Australia are hoping for relief from the relentless cost of living pressures currently plaguing the entire country, writes Amanda Rose, founder of Small Business Women Australia. Like the many Australians doing it tough, business owners face the stressors of increased fuel… Read more »
With the Federal Budget imminent, I’ve been doing some crystal ball-gazing and considering what tax measures might – and what might not – be announced, and their impact on small businesses, writes Mark Chapman, Director of Tax Communications, H&R Block. Sadly, when it comes to tax, this year’s Budget (due on 9 May 2023)… Read more »
The Federal Government’s announcement of support for small and medium sized businesses adopting digital technologies and cloud computing, is a welcome incentive, writes Helen Lea, MYOB Chief Employee Experience Officer. It provides an opportunity for small businesses to embrace the power of digital transformation and cloud computing, to improve their critical business processes, reduce cyber… Read more »
As the 2022 Federal Budget looms, Vista Australia CEO Marcus Marchant shares insights into why Australia needs a digital-led small business recovery. It’s no secret small businesses are the lifeblood of the Australian economy and many struggled to stay afloat during the pandemic. Despite being touted as the key to economic recovery in 2022, many… Read more »
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