Xero, a leading global platform for small businesses, released its latest Xero Small Business Insights (XSBI) update, revealing positive news for Australian small businesses in the first quarter of 2024. This data indicates a resilient small business sector, bouncing back from a soft December 2023
Australia’s small business landscape is facing a major shake-up with an ageing ownership profile and increasing numbers of distressed businesses being voluntarily or forcibly wound-up. Self-employed leaders at the helm of almost 30 per cent (730,000) of Australia’s 2.6 million small businesses* are 50 years
Job opportunities for Aussies continue to slide, as businesses remain conservative about hiring in the face of economic volatility, geopolitical uncertainty, inflation and high interest rates. Australia’s Peak Body for Recruitment Consulting and Staffing (RCSA) has released its latest Jobs Report with the data revealing
New research from Employment Hero, reveals AI and automation could be the silver bullet to ease the pain Australian SMEs go through when processing payroll. The employment platform, which serves approximately one-in-five of Australia’s private businesses, found that for 73% of respondents, it takes longer
Millennials are more than twice as likely as Baby Boomers to agree that they’d feel uncomfortable asking customers for Payment (42% compared to 20%), suggesting a generational gap exists regarding how business leaders operate and interact with customers. When it comes to feeling ‘awkward’ about
SMB Minister Julie Collins has doubled down on her mission to name and shame big businesses that fail to pay small businesses in less than 30 days, this week releasing draft legislation to overhaul the Payment Times Reporting Act 2020 and introduce reforms that will help level the
Leading financing company OptiPay has seen a 25% increase in its utilisation rate for invoice financing, showing Australian SMEs are in dire need of cash. “More of our clients are needing to access their invoice financing facility to free up cash for their business,” says OptiPay CEO
It is often said small business is the engine room of the economy. We must ensure small and family business can fire on all cylinders – not have a cylinder taken out. We need to get the risk and reward balance right, make small business
Over the last two years, growth in wages and salaries have not kept up with rises in the cost of living. The Australian Bureau of Statistics estimates the cost of living for the average “employee household” rose by 16.7% in the two years up to December 2023.
The Australian credit and charge card market is set to grow by 7.1% in 2024, supported by rising consumer spending. With a strong payment infrastructure and burgeoning e-commerce landscape, credit and charge cards are becoming increasingly favored among Australians, despite looming competition from buy now
Small Business Connections (SBC) is a media platform that delivers targeted content, news, industry reports, trends and tips to business owners, entrepreneurs, startups and stakeholders in the SME sector.
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