NEW BUSINESS ENTERPRISES – AUSTRALIA

Start-ups reveal their federal budget wish-lists

roymorgansocial Leave a comment

Original article by Liz Main
The Australian Financial Review – Page: 19 : 2-Apr-19

Clarification concerning research and development tax incentives is one of the biggest points of interest for technology start-ups with regard to the federal government’s April 2019 Budget. Des Hang, the CEO and co-founder of vehicle subscription service Carbar, says it is too easy for larger companies to be able to claim tax breaks under the R&D incentive scheme. Investment in better education programs is something else that the technology sector wants to see, along with immigration reform.

CORPORATES
CARBAR, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, ATLASSIAN CORPORATION PLC, 99DESIGNS PTY LTD, FINTECH AUSTRALIA PTY LTD

Fairfax scion in new media venture

roymorgansocial Leave a comment

Original article by Damon Kitney
The Australian – Page: 20 : 12-Feb-19

John B Fairfax and Cameron O’Reilly are backing a new digital investigative journalism venture. The name of the venture, which will work inside the Crikey website, will be made public before it is formally launched in April. It is intended that the new venture will make its money solely from subscription sales, rather than advertising. Fairfax has been involved in the print media for five decades, while the O’Reilly family controlled Independent News & Media for more than 35 years.

CORPORATES
PRIVATE MEDIA PARTNERS PTY LTD, INDEPENDENT NEWS AND MEDIA PLC, FAIRFAX MEDIA LIMITED, FACEBOOK INCORPORATED, GOOGLE INCORPORATED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

Neobanks set for vault into future

roymorgansocial Leave a comment

Original article by Richard Gluyas
The Australian – Page: 15 & 16 : 11-Jan-19

Australia’s traditional banks are set to face growing competition from purely digital banks. The majority of banks that have entered the domestic market in the last decade have been foreign owned, but local ‘neobanks’ are changing the status quo. Volt will seek a full banking licence after gaining a restricted licence in May 2018, and the digital bank aims to have a $3m mortgage loan book within three years. Xinja also recently secured a restricted licence, while 86400 is set for a public launch within three months.

CORPORATES
VOLT BANK LIMITED, XINJA BANK LIMITED, 86400 PTY LTD, CUSCAL, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, UP, MONZO, REVOLUT, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, BARCLAYS BANK PLC

Gupta plans bank for businesses

roymorgansocial Leave a comment

Original article by Luke Griffiths
The Australian – Page: 6 : 1-Jun-18

British billionaire Sanjeev Gupta wants to start a business-focused bank in Australia, and is looking at possible acquisition targets. Gupta’s GFG Alliance operates Wyelands Bank in the UK, which targets small and medium businesses, and Gupta says his proposed Australian bank would have a similar focus. Australian Industry Group CEO Innes Willox says such a bank would be welcomed, particularly as borrowing might become harder in the wake of the banking royal commission.

CORPORATES
GFG ALLIANCE, WYELANDS BANK, THE AUSTRALIAN INDUSTRY GROUP, ZEN ENERGY PTY LTD, TUNGSTEN BANK, DIAMOND BAY CLEANING SERVICES, BAILLIEU HOLST LIMITED, ARRIUM LIMITED, GLENCORE AUSTRALIA PTY LTD, DIAMOND BANK

ASX listing rule changes pushed back after flood of feedback

roymorgansocial Leave a comment

Original article by Yolanda Redrup
The Australian Financial Review – Page: 20 : 27-Jul-16

Stock exchange operator ASX Limited has advised that new listing rules that were to have been introduced on 1 September 2016 will now take effect on 19 December. The ASX has opted to delay the starting date for the new rules in response to the significant feedback it has received during the consultation phase. The revised listing rules will make it harder for business start-ups to undertake IPOs.

CORPORATES
ASX LIMITED – ASX ASX, WISETECH GLOBAL LIMITED – ASX WTC, CONNEXION MEDIA LIMITED – ASX CXZ, GENERAL MOTORS CORPORATION

PM pushes risk taking, start-ups

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 8-Dec-15

Prime Minster Malcolm Turnbull has unveiled the National Innovation and Science Agenda. He said at the CSIRO Discovery Centre on 7 December 2015 that Australia needs new ways of stimulating the economy, considering that the country could no longer count on the mining boom as the driver of the economy. The Government has proposed 24 measures, including income tax rebates and incentives for business start-ups.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, CSIRO, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIA. PRODUCTIVITY COMMISSION, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, KPMG AUSTRALIA PTY LTD

Turnbull’s bright idea: $1bn to drive innovation

roymorgansocial Leave a comment

Original article by Philip Hudson, Sid Maher
The Australian – Page: 1 & 2 : 7-Dec-15

A capital gains tax exemption for investors in business start-ups will be included in the Australian Government’s innovation and science statement, which will be launched on 7 December 2015. Meanwhile, a new cabinet committee will be responsible for co-ordinating the government’s expenditure on research and science, while the CSIRO will receive around $A100m in additional funding. The package is also believed to include measures aimed at encouraging more people to study sciences, technology, ­engineering and mathematics.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, CSIRO, DATA61, NATIONAL ICT AUSTRALIA LIMITED, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, OZEMAIL LIMITED, AUSTRALIAN LABOR PARTY, BUSINESS COUNCIL OF AUSTRALIA, SCIENCE AND TECHNOLOGY AUSTRALIA, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA

Ads in your cabs arriving soon

roymorgansocial Leave a comment

Original article by Ruth Liew
The Australian Financial Review – Page: 23 : 1-Dec-15

Fare Media was established by Luke O’Connor and Simon Wells, and specialises in the installation of interactive advertising display screens inside taxis. The custom-made touch-screen tablets are fitted to the back of the front seats, and allow passengers to view content such as ads, apps and surveys while in transit. The tablets are now installed in more than 400 taxis in Queensland, and Fare Media plans to enter the Sydney and Melbourne markets in 2016.

CORPORATES
FARE MEDIA PTY LTD, TOUCHMEDIA, ROADSHOW FILMS, GOLD COAST TOURISM, SUBWAY SANDWICHES PTY LTD, CARLTON AND UNITED BREWERIES, PROFESSIONAL TAXIS, TAXI COUNCIL OF QUEENSLAND, UBER TECHNOLOGIES INCORPORATED, WILSON ASSET MANAGEMENT, CABCHARGE AUSTRALIA LIMITED – ASX CAB

Tech fund rush to hit $1b

roymorgansocial Leave a comment

Original article by Patrick Durkin
The Australian Financial Review – Page: 1 & 6 : 2-Nov-15

Square Peg Capital will launch a $A200m venture capital fund that will invest in technology start-ups. Square Peg Capital was co-founded by Paul Bassat, who was also the joint founder of jobs website SEEK. Other recent initiatives in Australia’s venture capital space include a $A200m fund launched by Blackbird Ventures and Atlassian Software founder Michael Cannon-Brookes. Brandon Capital also launched a $A200m fund earlier in 2015.

CORPORATES
SQUARE PEG CAPITAL PTY LTD, SEEK LIMITED – ASX SEK, BLACKBIRD VENTURES PTY LTD, ATLASSIAN SOFTWARE SYSTEMS PTY LTD, BRANDON CAPITAL MANAGEMENT PTY LTD, AUSTRALIANSUPER PTY LTD, HEALTH EMPLOYEES’ SUPERANNUATION TRUST AUSTRALIA LIMITED, STATEWIDE SUPERANNUATION PTY LTD, HOST-PLUS, THE GROUP OF EIGHT LIMITED, AIRTREE VENTURES PTY LTD, ACCEL PARTNERS, 99DESIGNS PTY LTD, CARSALES.COM LIMITED – ASX CAR, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIA. OFFICE OF THE CHIEF SCIENTIST, WESFARMERS LIMITED – ASX WES, AUSTRALIAN FOOTBALL LEAGUE, GOCATCH, ROCKT, VEND LIMITED, SCRIPTROCK PTY LTD, JETSTAR AIRLINES PTY LTD

Start-ups may avoid all capital gains tax

roymorgansocial Leave a comment

Original article by Fleur Anderson
The Australian Financial Review – Page: 1 & 6 : 5-Oct-15

The Parliamentary Budget Office estimates that a proposal to abolish capital gains tax for investing in business start-ups would cost the budget about $A30m annually by 2018-19. A Federal Government taskforce is considering the proposal, which was put forward by backbencher David Coleman and had the support of former treasurer Joe Hockey. The tax break would apply to investments in companies that have been in business for less than two years and whose annual revenue is less than $A1m.

CORPORATES
AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NINEMSN PTY LTD, PUBLISHING AND BROADCASTING LIMITED, STARTUPAUS, KPMG AUSTRALIA PTY LTD