Federal Government Opens Up Submissions For New Franchise Rules
The Australian Government has published draft amendments to the Franchising Code of Conduct to support the establishment and operation of the Franchise Disclosure Register. The amendments proceed the 2021-22 budget commitment of $4.3 million for a new Franchise Disclosure Register to assist prospective franchisees to make an informed decision before entering a franchise agreement. Stuart […]
Australian Government Confirms Director ID Deadline
Current Australian directors will now be given 12 months to apply to receive their unique director identification number before fines of over $1.1 million kick in for non-compliance. Existing company directors will now be required to apply for a director identification number (director ID) by the 30th November 2022. Directors of Indigenous corporations that are […]
Common Cashflow Related Problems And Tips For Fixing Them
Cashflow is the buzzword used to describe for all of the money that is coming into and going out of your business. In financial terms, it’s the culmination of accounts receivable and accounts payable. Cashflow is not about sales or revenue, it’s about the actual, cold hard cash that is made available (or unavailable) to […]
A Large Number of SMEs Report To Having Difficulties With Their Cashflow
Recently published research has revealed that a large percentage of Australian SMEs are struggling with their cashflow as a result of the ongoing covid-19 pandemic. The survey that included data from over 900 commercial financial brokers showed that even before the latest lockdowns in NSW and Victoria came into full effect close to 77 percent […]
Australia’s Current Insolvency Rate Is Much Lower Than Anticipated
A recently published survey has found that the current insolvency rate for Australian business is running at less than half the pre-covid levels. However, this might be a result of the ongoing lockdowns and border closures. Despite the winding back of government support packages, external administrations are still running at historical lows despite concerns last […]
Listed Companies Are Required to Report JobKeeper Grants
Recently announced legislation means that listed entities are required to separately notify the market of JobKeeper payments even if that information has been included in the entity’s annual financial report. The legislation known as The Treasury Laws Amendment (2021 Measures No. 2) Act 2021 was announced by the Australian Government in September 2021. The announcement […]
Hardship Panel Established To Support NSW Businesses
The NSW State Government has announced the formation of a Hardship Review Panel to support businesses that are currently not eligible to receive any current Covid-19 business support measures. The purpose of the panel is to assess businesses that are currently experiencing financial hardship but do not meet the criteria for either the Covid-19 Business […]
Covid Disaster Payments In NSW and ACT Have Been Discontinued
Residents of NSW and the ACT who have been receiving Covid-19 Disaster Payments have been told that their payments were officially discontinued on Friday 8th October. The discontinuation comes as the two jurisdictions both reached the 70 percent vaccination threshold target. In an update made on Friday 8th October, Services Australia confirmed that the payments […]
Australian Businesses View Border Closures As A Major Concern
A recent survey has shown that border closures, recruitment issues and supply chain delays are anticipated to be the most significant pressures for Australian businesses over the next 12 months. 46 percent of respondents who participated in the survey believe that border closures will be a major factor in putting pressures on businesses, while 34 […]
Ombudsman Asking for Feedback from Female Business Owners
As a way of supporting and encouraging females to take up entrepreneurship in Australia, women who currently lead or own businesses are being asked to share their experiences. The Australian Small Business and Family Enterprise Ombudsman has released a survey aimed at identifying any unique challenges and opportunities experienced by women who own and lead […]
