#Australian Economy
This sector sees a promising future in Australia in the coming years
According to CreditorWatch data, the manufacturing industry is one of the sectors with a consistently low chance of default, making this an advantageous time for Australia to capitalise on the expanding need for domestic manufacturing capacity.
Will inflation impact Australian businesses?
Will U.S style inflation reach Australia’s shores? How inflation impacts businesses and how SMEs can prepare.
Budget 2021’s $1.2 billion digital strategy; myGov & My Health sites overhaul, tax incentives, e-invoicing and more
The Digital Economy Strategy will see a further $800 million added to measures put forth in the 2020 Budget, aiming to make Australia one of the world’s leading digital economies.
Australian small business revenue rises above pre-pandemic average as jobs recover
New data from Xero shows that small businesses have recorded a positive revenue growth for nine consecutive months despite snap lockdowns.
Investment NSW to boost economy and jobs as part of COVID-19 recovery
The NSW Government has today opened its Investment NSW agency, which aims to maximise economic benefits and jobs for NSW.
Faster global vaccine rollout could boost Australia’s economy by $17bn: KPMG
A new analysis by KPMG has revealed that a faster international rollout of vaccines could boost the Australian economy by $17bn and generate up to 40,000 jobs.
Australia’s employment landscape recovers as 43 per cent of companies raise headcount in 2021
The Michael Page Talent Trends report reveals that 43 per cent of businesses expect to increase their headcount in 2021.
Ideal jobless rate ‘some time away’: RBA
Reserve Bank of Australia board members agreed back-to-back cash rate cuts were necessary to eat into spare labour market capacity, but a high participation rate and an expanding working age population means it will take “some time” to achieve the ideal jobless rate. Minutes from the RBA’s July 2 meeting show members agreed a consecutive […]
The financial challenges small Aussie businesses are facing
Small business is the engine room of the Australian economy and with the numbers of small businesses growing rapidly, allied to the explosion in the ‘gig’ or ‘sharing’ economy, there are thousands of Aussies confronting the challenge of getting a business off the ground for the first time. So, if you’re a budding entrepreneur, what […]
RBA cuts again to take cash rate to 1%
The Reserve Bank of Australia has cut the cash rate to a fresh record low of 1.0 per cent, reducing the cost of borrowing for two months in a row for the first time since 2012. The market had largely priced in a second straight 0.25 percentage point cut after RBA Governor Philip Lowe suggested […]
Wage underpayments epidemic in Australia
Byline: Arthur Hambas, Lawyer at McDonald Murholme When Victorian Premier Daniel Andrews commented that “every worker has the right to get a fair day’s pay for a fair day’s work”, it drew the public’s attention to an issue that has been plaguing a significant number of Australian workers for some time. While most employers do […]
China’s economic slowdown a bigger concern for Australian businesses than the US China trade war
With trade tensions between the US and China continuing to simmer, global trade growth could potentially grind to a halt this year, contracting by up to 2.3 per cent in 2020. (1) However, it is not just the risk of short-term suffering of the Chinese economy from trade restrictions that poses a risk to the […]
The future of fintech in Agribusiness
Thought leadership byline: Sam Fitzpatrick, Agribusiness Lead, Western Union Business Solutions Agribusiness in Australia: the lay of the land Australia’s agribusiness sector is currently estimated to be worth $256 billion,[1] with the economic impact reaching communities around the country. Currently more than two thirds of agricultural commodities produced on Australian farms are exported each year, with production […]
RBA cuts cash rate to new low of 1.25%
The Reserve Bank of Australia has cut the cash rate to a new record low of 1.25 per cent in a widely anticipated attempt to stimulate the economy. It is the central bank’s first move on rates since August 2016 and follows another month of weak economic data, most notably an unexpected rise in the […]
Analysts predict RBA will move rates
Analysts are increasingly confident the RBA will move rates for the first time since August 2016 on Tuesday in a bit to reignite stalling economic growth. The Reserve Bank cash rate could change for the first time in nearly three years this week with a cut to a new record low a real possibility after […]
Driven by Australia’s tech entrepreneurs and investors: The resources boom makes way for the technology boom
Yes – the Australian government has recently launched the National Innovation and Science Agenda which aims to cultivate Australia’s newest economic pillar: Technology and Innovation. “Welcome to the Ideas Boom” the homepage boldly and proudly states like a gatekeeper of previously untrodden territory. But are these policy changes (welcome as they are) driving this shift, […]
What the mid-year economic outlook means for business
The Federal Treasurer has released the Mid-Year Economic and Fiscal Outlook (MYEFO) for 2012-2013, and it won’t come as any great surprise to SME owners that the economy, whilst not going backwards, is certainly not moving forwards as swiftly as the Treasurer would like. Here’s how the MYEFO announcement will impact small businesses over the foreseeable future.
What the mid-year economic and fiscal outlook means
Need a quick breakdown on how the Federal Government’s mid-year economic outlook will affect your business? Read on.
RBA holds interest rates, again
The Reserve Bank of Australia (RBA) has held the cash rate at 3.50 percent today, as inflation and growth remain close to trend for the second month in a row.
RBA holds cash rate steady at 3.5 percent
The Reserve Bank of Australia (RBA) left the cash rate unchanged following its meeting today, citing on-trend growth and inflation.
Spending up, but confidence remains fragile
Consumer spending across the country is continuing to rise, but as businesses become more optimistic, experts are warning consumer confidence remains fragile.
Employment optimism dwindling in small businesses
Employment optimism is dwindling as are local job prospects, as a new survey reveals a decline in the number of businesses looking to hire employees for the next quarter.
Unemployment rises, but labour force participation continues to expand
The unemployment rate has risen by 0.2 percent, but labour force participation has reached new height, with more Australians in full-time work than ever before.
Business confidence slides further, but SMBs remain positive on outlook
Despite business confidence continuing to fall as a result of weak consumer spending, half of SMBs remain optimistic about their ability to ride out the tough times, a new report has found.