SMALL BUSINESS – AUSTRALIA

CBA to feast on growing SME pie

roymorgansocial Leave a comment

Original article by Misa Han
The Australian Financial Review – Page: 29 : 12-Mar-15

Macquarie Group is upbeat about the outlook for the Commonwealth Bank of Australia (CBA), lifting its share price target from $A99 to $A101. Michael Wiblin of Macquarie believes that CBA in particular is in a strong position among the four major banks to increase its share of the small and medium enterprise banking market. He notes that the ANZ Bank and National Australia Bank seem to be losing market share to CBA in this sector

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MACQUARIE GROUP LIMITED – ASX MQG, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, ONDECK, KABBAGE, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, CITIGROUP PTY LTD

Small businesses hopeful but cautious

roymorgansocial Leave a comment

Original article by Su-Lin Tan
The Australian Financial Review – Page: 38 : 25-Nov-14

The Westpac and Melbourne Institute "Small Business Index" for November 2014 shows a rise of 10.4% in sentiment over the past three months. However just a fifth of the respondent said they were planning to invest capital in expansion. One area attracting more funding is online social networking media. The findings largely echo those of the separate "Australian Attitudes to Small Business Report" study by American Express. The credit card company is launching a new promotion to boost consumer spending at small businesses

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH, AMERICAN EXPRESS COMPANY, AUSTRALIA. DEPT OF INDUSTRY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, LICENCE TO BILL

Sliding profits build pessimism

roymorgansocial Leave a comment

Original article by Adam Creighton
The Australian – Page: 19 : 24-Nov-14

Australian Chamber of Commerce & Industry CEO Kate Carnell has issued the employer lobby group’s latest survey of small business conditions. While the residential construction sector is strong because of increased housing demand, for all other types of small enterprises there has been a decline across the 11 indicators measured. Subdued sentiment among consumers as well as businesses has meant the Reserve Bank of Australia’s official interest rate cuts have failed to spark increased spending that would lift the economy

CORPORATES
AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, RESERVE BANK OF AUSTRALIA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, HOUSING INDUSTRY ASSOCIATION LIMITED

PM wavers on benefits

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 31-Jul-14

Australian Prime Minister Tony Abbott and Treasurer Joe Hockey have signalled their willingness to make changes to the proposed reform of unemployment benefits. The original proposal has been criticised as too harsh. Peter Strong, CEO of the Council of Small Business Organisations of Australia, said the requirement for 40 job applications per month would create an administrative nightmare

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF EMPLOYMENT, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED

Firms failing at double the pace

roymorgansocial Leave a comment

Original article by Anthony Klan
The Australian – Page: 21 : 30-Jul-14

Australian economist Christopher Nadarajah and consulting firm IBISworld have compiled the new Jones Partners "Insolvency Report", for 2012-13. The data show that the ratio of enterprises entering administration, receivership or liquidation has grown to 3.4% from just 1.5% in 1999-2000. The main contributor are businesses with fewer than 20 staff in the sectors of construction, retail trade and personal services. The number of insolvencies is up from around 6,500 in 2003-04 to 10,746 in 2012-13. Small businesses that failed in 2012-13 created 74,000-plus job losses while large companies going under caused only 6,250

CORPORATES
JONES PARTNERS PTY LTD, IBISWORLD PTY LTD