The economic contribution of small business to the Australian economy has topped half a trillion dollars, according to a report released today by the Australian Small Business and Family Enterprise Ombudsman, Bruce Billson. The value of small business to the economy surged by 15 per
Since 2005, annual labour productivity growth (growth in output per hour worked) has been the best part of one percentage point below its long-term average in Australia and other developed countries. The Productivity Inquiry that I helped conduct for the Productivity Commission found this will lead to
Jobs have grown again in regional Victoria and the regional unemployment rate has dropped to a near record low, underscoring the strength of the state’s economic resurgence. Today’s Australian Bureau of Statistics (ABS) figures show that more than 3,900 Victorians found work in regional Victoria
Late last year, the Reserve Bank gave 1,000 Australians diaries and asked them to record every payment they made over the course of a week. Of the 13,000 payments, only 17 were with cheques. It’s been an astounding collapse. Back in 1980 at the start of the
– Thought leadership release – Navigating Australia’s uncertain economic landscape in 2023 The world is highly interconnected with actions taken by central banks around the world having significant impacts on other countries’ economic fortunes. Currencies are not isolated, and what one country does can impact
The rising cost of living, economic uncertainty, and geopolitical issues have driven-up demand for financial advice by 21.2% over the last year, according to one of the world’s largest independent financial advisory, asset management and fintech organisations. As the figures from deVere Group, which are
COSBOA is deeply concerned about the increasing cost of doing business, particularly during these challenging times. Small Business reports that they are not profitable, they are absorbing cost increases and fighting to obtain workers. If the minimum wage increases, we anticipate a wage-price spiral, small
Australian households have drastically slashed their spending on luxury goods as they grapple with the twin impacts of high inflation and spiralling interest rates, new data from the National Retail Association has revealed. The NRA’s quarterly economic outlook report revealed growth in discretionary spending was close to
Australian households have drastically slashed their spending on luxury goods as they grapple with the twin impacts of high inflation and spiralling interest rates, new data from the National Retail Association has revealed. The NRA’s quarterly economic outlook report revealed growth in discretionary spending was close to
COSBOA is deeply concerned about the increasing cost of doing business, particularly during these challenging times. Small Business reports that they are not profitable, they are absorbing cost increases and fighting to obtain workers. If the minimum wage increases, we anticipate a wage-price spiral, small
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