The Australian Small Business and Family Enterprise Ombudsman has welcomed the introduction of shorter, plain English loan contracts by National Australia Bank for small business borrowers. The bank announced yesterday that more than 130,000 Australian business owners would benefit from a complete overhaul of its existing business standard loan form contract. Ombudsman
Read MoreAustralian retail turnover fell 0.6 per cent in August 2017, seasonally adjusted, according to the latest Australian Bureau of Statistics (ABS) Retail Trade figures. This follows a fall of 0.2 per cent in July 2017. In seasonally adjusted terms, there were falls in food retailing (-0.6 per cent), cafes, restaurants and takeaway
Read MoreThe Reserve Bank has left the cash rate unchanged at 1.50 per cent. Conditions in the global economy have improved. Labour markets have tightened and above-trend growth is expected in a number of advanced economies, although uncertainties remain. Growth in the Chinese economy is being supported by increased spending on infrastructure
Read MoreChamber of Commerce and Industry WA (CCI) Chief Economist Rick Newnham said yesterday’s threat by the State Government to introduce a bank tax if the GST calculation isn’t fixed, highlights the perverse incentives the GST distribution has created for states. “A bank tax is being threatened because it is a revenue
Read MoreAustrade and the Australia-Japan Business Co-operation Committee will launch a Japanese-language version of Japanese Investment in Australia – A trusted partnership at a special lunch in Sydney tomorrow. Australia’s Ambassador to Japan the Hon. Richard Court AC and the Ambassador of Japan to Australia HE Mr Sumio Kusaka will attend the
Read MoreNine small to medium sized businesses will share in $8.75 million in grants to help them develop and test their innovative solutions to public sector challenges, through the Turnbull Government’s Business Research and Innovation Initiative (BRII). BRII allows government to tap into leading edge thinking to find innovative solutions to important
Read MoreThe Australian Small Business and Family Enterprise Ombudsman (ASBFEO) has welcomed the Government’s landmark move to establish a new one-stop-shop to resolve small business disputes with banks – the Australian Financial Complaints Authority (AFCA). Ombudsman Kate Carnell said the initiative addressed a key recommendation from ASBFEO’s Small Business Loans Inquiry and
Read MoreA report released today by the Australian Bureau of Statistics (ABS) reveals that income and wealth inequality have remained stable since 2013-14. The Survey of Income and Housing is Australia’s largest survey of income and wealth and provides an important measure of inequality. Income “In the lead up to the Global Financial Crisis,
Read MoreMinister Steven Ciobo MP last week launched the Japanese Investment in Australia – a trusted partnership report. Speaking at the Oji Fibre Solutions’ (OjiFS) new world-class manufacturing facility in Yatala, Queensland, Minister Ciobo welcomed the report, which coincides with the 60th anniversary of the bilateral Japan-Australia Agreement on Commerce signed in 1957. ‘This report acknowledges and celebrates the significant
Read MoreAs part of the 2017-18 State Budget, Education and Training Minister Sue Ellery today announced more than $90 million would be spent over the next four years to return the delivery of several qualifications to Western Australia, upgrade vital training infrastructure and improve training affordability through the TAFE fees freeze. In
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