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 […]
More 80 Percent of Victorian and NSW SMEs Intend on Thriving After Lockdowns
A recently published survey has highlighted the resilience of Melbourne and Sydney SMEs during the ongoing covid-19 enforced lockdowns. Over 25 percent of businesses stated that they not been impacted by the lockdowns at all, while 53 percent said they will focus on bouncing back when restrictions ease. The results of the survey were compiled from […]
New Business Grants Have Been Announced To Support South Australian SMEs
On Monday 13th September, The South Australian State Government announced introduction of two new business support grants to assist small and medium business across the state. The programs will deliver an extra $15 million in financial support to an estimated 3,500 local businesses. The newly announced Covid-19 Tourism and Hospitality Support Grantwill provide support for […]
Australia Is Experiencing an Increase in New Businesses Starting Despite Challenges of Covid-19
Newly published data collected by the Australian Bureau of Statistics (ABS) shows that there is an increase in the number of Australian businesses that are starting up, despite the tough restrictions, ongoing lockdowns and economic uncertainty that has been generated as a result of the covid-19 pandemic. The recently published data from the ABS, which […]
SMEs Encouraged To Seek Help If They Are Struggling To Pay Their Taxes
Small to medium enterprises (SMEs) across Australia are being encouraged to seek immediate help if they are struggling to pay their taxes due to the covid-19 pandemic-induced cash-flow issues. It has been reported that small to medium businesses currently owe the Australia Tax Office (ATO) a record-high $21.4 billion in tax debt in the financial […]
SME Tax Debts Reaches A Record $21 Billion
It can be revealed that, small and medium businesses across Australia owe a total of $21 billion to the ATO (Australian Tax Office). The figures were published according to new data compiled by the Inspector-General of Taxation and Taxation Ombudsman (IGTO). Despite this record figure, the large majority of small business owners have said that […]
Victorian Government Announces $280 Million Support Package
On Wednesday 21st July, Victorian Premier Daniel Andrews announced an injection of $282.5 million to Victoria’s business support package, which will now total $484.3 million with the goal to support over 90,000 businesses and sole traders across the state during the course of Victoria’s fifth lockdown. Victorian Businesses who are eligible for the Licensed Hospitality […]
Important Information About Tax Cuts And Super Changes Introduced on 1st July 2021
Tax relief for workers and businesses, higher superannuation payments and housing assistance for first home buyers are just some of the changes set to occur at the start of the new financial year on Thursday 1st July, as a number of measures from the 2021 federal budget come into effect. Arguably the most significant change […]
Businesses Can Expect Faster Payments and Savings When Compulsory E-Invoicing Starts In NSW
Businesses across New South Wales can expect to see quicker savings and payment times once mandatory e-invoicing is introduced for all government agencies across the state on 1st January 2022. It will it will bring a host of other benefits for small and medium businesses when sending and receiving invoices to the government. The implementation […]
46 Percent of Small Business Owners Admit to Mental Health Problems
Research published by MYOB has shown that 46 percent of small and medium sized business owners believe that running their own business has directly contributed to feelings of depression or anxiety. Furthermore, another 26 percent ranked mental health as an “immediate” problem in their daily life and workplace. These figures illustrate that the pandemic is taking […]