BUSINESS – AUSTRALIA

Corporates too reliant on Facebook

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Original article by David Swan
The Australian – Page: 13 & 17 : 6-Oct-21

Marcus Thompson says Facebook’s global outage highlights the fact that Australian businesses rely too much on the social media giant and many lack an alternative platform to engage with customers. Thompson, the former head of information warfare at the Australian Defence Force, says local companies need to become more self-sufficient and less dependent on offshore-based digital platforms. Localsearch co-founder Daniel Stoten says small businesses must have a presence on all social media sites that are used by their customers, rather than being reliant on one platform. The Facebook outage lasted for nearly six hours, and has been attributed to a faulty configuration change; it also affected WhatsApp, Instagram and Messenger, and had to be announced on rival platform Twitter.

CORPORATES
FACEBOOK INCORPORATED, WHATSAPP INCORPORATED, INSTAGRAM LLC, FACEBOOK MESSENGER, TWITTER INCORPORATED, LOCALSEARCH

Roy Morgan Business Confidence increases by 3.1pts (+3.1%) to 104.6 in September as NSW and Victoria outline re-opening plans

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Original article by Roy Morgan
Market Research Update – Page: Online : 29-Sep-21

In September 2021, Roy Morgan Business Confidence rose 3.1pts (+3.1%) to 104.6. Business Confidence has increased for the first time since May, following the outlining of re-opening plans in September in both NSW and Victoria. Business Confidence is 19pts (+22.2%) higher than in September 2020 (85.6); however, Business Confidence is now 9.2pts below the long-term average of 113.8. Businesses grew increasingly confident about the performance of the Australian economy, with of 50.4% of businesses expecting ‘good times’ for the economy over the next 12 months. In addition, 47.4% of businesses say the next 12 months is a ‘good time to invest in growing the business’. Business Confidence in September was widely divergent amongst the Australian States although all six were up strongly on a year ago. Western Australia has by far the highest Business Confidence at 135.4, up 26.5pts (+23.4%) from a year ago and is now over 30pts higher than the national figure of 104.6. The latest Roy Morgan Business Confidence results for September are based on 1,417 detailed interviews with a cross-section of Australian businesses from each State and Territory.

CORPORATES
ROY MORGAN LIMITED

Roy Morgan Business Confidence plunges by 15.7pts (-13.4%) to 101.5 as Sydney and Melbourne endure extended lockdowns

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Original article by Roy Morgan
Market Research Update – Page: Online : 1-Sep-21

In August 2021, Roy Morgan Business Confidence fell 15.7pts (-13.4%) to 101.5. Despite the fall Business Confidence is 18.4pts (+18.1%) higher than a year ago (83.1), but it is 12.3pts below the long-term average of 113.8. Despite the third straight monthly fall in August, Business Confidence has now averaged 120.9 during the first eight months of 2021, which is still the best ever start to a year for the Index. Business Confidence was down in all six Australian States, but it is still lowest in New South Wales. Some 46.2% (down 13.7ppts) of businesses now expect ‘good times’ for the Australian economy over the next 12 months, while 51.2% (up 13.7ppts), expect ‘bad times’ (the highest figure for this indicator since October 2020). Meanwhile, 47.9% (down 4.4ppts) say the next 12 months is a ‘good time to invest in growing the business’ (the lowest figure for this indicator since September 2020), while 43.4% (up 5.4ppts) said it will be a ‘bad time to invest’. The latest Roy Morgan Business Confidence results for August are based on 1,301 detailed interviews with a cross-section of Australian businesses from each State and Territory.

CORPORATES
ROY MORGAN LIMITED

Unions slam compulsory vaccine push

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Original article by Glenda Korporaal, Jared Lynch
The Australian – Page: 15 & 19 : 6-Aug-21

The question as to whether employers can mandate that staff must be vaccinated against COVID-19 has come under renewed scrutiny after SPC’s move to enforce a ‘no jab, no job’ policy. The Australian Manufacturing Workers Union’s national president Andrew Dettmer has criticised the fruit and vegetable processor’s lack of consultation, as well as its unrealistic deadline of six weeks for staff to get their first dose at a time when vaccine supplies are limited. Lawyers have also questioned the validity of mandatory staff vaccinations. Many Australian companies are actively encouraging their staff to get vaccinated, with some offering incentives such as paid leave.

CORPORATES
SPC AUSTRALIA, AUSTRALIAN MANUFACTURING WORKERS’ UNION

Roy Morgan Business Confidence plunges by 11.1pts (-8.7%) to 117.2 after Sydney, Melbourne and Adelaide placed in lockdowns

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Original article by Roy Morgan
Market Research Update – Page: Online : 4-Aug-21

In July 2021, Roy Morgan Business Confidence plunged 11.1pts (-8.7%) to 117.2. Despite the fall, Business Confidence is 32.9pts (+39%) higher than a year ago (84.3), and it is 3.3pts above the long-term average of 113.9. Business Confidence has now averaged 123.6 during the first seven months of 2021, the best ever start to a year for the Index. The reading of 117.2 for July is also the highest level of Business Confidence in the mid-Winter month since July 2014 (119.1). Some 59.9% of businesses now expect ‘good times’ for the Australian economy over the next 12 months, and 52.3% say the next 12 months is a ‘good time to invest in growing the business’. The latest Roy Morgan Business Confidence results for July are based on 1,341 detailed interviews with a cross-section of Australian businesses from each State and Territory.

CORPORATES
ROY MORGAN LIMITED

Roy Morgan Business Confidence down only slightly in June to 128.3; but new COVID-19 restrictions a clear threat to the recovery

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Original article by Roy Morgan
Market Research Update – Page: Online : 30-Jun-21

In June 2021, Roy Morgan Business Confidence fell 1pt (-0.8%) to 128.3. Despite the fall, Business Confidence is 33.3pts (+35.1%) higher than a year ago (95.0), and it is now 14.4pts above the long-term average of 113.9. Business Confidence has now averaged 124.7 during the first six months of 2021, the best start to a year for the Index for a decade since 2011. The index also averaged 124.7 in the first half of 2011 during the middle of the ‘Mining Boom’. This is the first time in the history of the index that Business Confidence has been above 120 for seven consecutive months from December 2020 to June 2021. Some 64.8% of businesses now expect ‘good times’ for the Australian economy over the next 12 months and 58.4% say the next 12 months is a ‘good time to invest in growing the business’. The Business Confidence result for June is based on interviewing conducted before the Sydney-wide lockdown and the latest restrictions introduced in several States announced over the weekend.

CORPORATES
ROY MORGAN LIMITED

Roy Morgan Business Confidence down 2.7pts to 120.5 in January – Majority of businesses expect good times for the next 12 months

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Original article by Roy Morgan
Market Research Update – Page: Online : 9-Feb-21

In January 2021, Roy Morgan Business Confidence was down 2.7pts (-2.2%) to 120.5 – the first decline in the index since August 2020, after four straight months of gains. Despite the fall Business Confidence is now 7.1pts above the long-term average of 113.4, and 18.9pts higher than it was a year ago (101.6). A clear majority of 61.7% of businesses expect ‘good times’ for the Australian economy over the next 12 months, and 52.9% of businesses said the next 12 months is a ‘good time to invest in growing the business’. On a State-based level Business Confidence is higher in all States than a year ago and significantly higher in NSW, Victoria, WA and SA – up by at least 15% in all four States compared to January 2020. Business Confidence is now highest in Western Australia at 140.6 in January and has increased by 27.6pts (+24.5%) from a year ago. Victoria is also in a far better position than a year ago according to the State’s businesses, with Business Confidence up 25.1pts (+25.5%) to 123.7. In 2021 Business Confidence in both New South Wales, up 18.8pts (+18.7%) to 118.9 and South Australia, up 26.7pts (+29%) to 118.7 is starting the year in a much stronger position than 2020.

CORPORATES
ROY MORGAN LIMITED

CEOs eye boost in Biden binge

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Original article by Glenda Korporaal
The Australian – Page: 13 & 18 : 18-Jan-21

Australian businessman Andrew Liveris says the incoming Biden administration is likely to pursue capital expenditure initiatives worth between $US2trn and $US4trn over the next several years. Liveris says this may generate opportunities for Australian companies, particularly in areas that are likely be a focus for Joe Biden, such as clean energy and associated infrastructure. Macquarie Specialised Asset Management chairman Tony Shepherd in turn says Biden administration’s stimulus program will be good for the global economy, including Australia. However, some business leaders have expressed concern about any move to roll back the Trump administration’s corporate tax cuts.

CORPORATES
UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, MACQUARIE SPECIALISED ASSET MANAGEMENT LIMITED

Tax Office to review rejected JobKeeper bids

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Original article by Tom McIlroy
The Australian Financial Review – Page: 7 : 21-Dec-20

Karen Payne, the Inspector-General of Taxation & Taxation Ombudsman, has found that some businesses may have been unfairly denied coronavirus assistance by the Australian Taxation Office. As a result of her findings, the ATO will re-evaluate rejected applications for business cashflow payments and the $90 billion JobKeeper program. However, despite her findings, Payne and professional bodies such as the Institute of Public Accountants have praised the ATO for the way in which it quickly implemented government assistance programs during the pandemic.

CORPORATES
AUSTRALIA. OFFICE OF THE INSPECTOR-GENERAL OF TAXATION AND TAXATION OMBUDSMAN, AUSTRALIAN TAXATION OFFICE

Roy Morgan Business Confidence up 10.4pts to 109.1 in November – Confidence is now above 100 in four States – NSW, QLD, WA & SA

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Original article by Roy Morgan
Market Research Update – Page: Online : 27-Nov-20

In November 2020 Roy Morgan Business Confidence jumped 10.4pts (+10.5%) to 109.1, the highest monthly reading since September 2019 (110.6). Business Confidence has now increased by a record 23.5pts (+27.5%) over the last two months. It is now 0.7pts higher than in November 2019 (108.4), but still 4.2pts below the long-term average of 113.3. An increasing majority of businesses, 57.9% (up 5.5ppts), said the next 12 months is a ‘good time to invest in growing the business’, the highest figure for this indicator since January 2014. On a State-based level Business Confidence is now in positive territory above 100 in four States. Confidence is highest in South Australia at 120.2 although it should be noted most interviewing was completed before the brief State-wide shutdown. Business Confidence is also above average in Western Australia (up 6pts to 114.4), New South Wales (up 8.4pts to 113.8) and jumped strongly in Queensland to 109.3 (up 18.8pts). However, Business Confidence in Victoria (97.8) and Tasmania (88.9) is now well below the national average.

CORPORATES
ROY MORGAN LIMITED