POLLENIZER, Australia’s oldest startup incubator, will launch a free two-day session in Geelong to help workers affected by the Ford shut down explore the idea of creating their own business.

The program, named Next Monday, will show former Ford workers how any idea can be developed into a business.

Next Monday was formed in less than 24 hours by Pollenizer, in response to figures from Australian Catholic University that up to 62 percent of Ford workers intend to look for a new job following the closure of the plant this Friday yet only 1 percent currently aim to start their own business.

Current supporters of the program include: Deakin University's Spark@Deakin and Australia Post’s Small Business Hive and Geelong startup program, Runway.

The company is seeking further support from the startup and business community ahead of the Next Monday’s launch on Monday.

“This is about bringing Australia’s most talented startup veterans together to tackle what will be an ongoing issue as Australia’s economy transitions and more jobs are displaced,” Pollenizer chief startup scientist Phil Morle said.

“The Australian economy is going through unprecedented change. Legacy industries are shifting and new ones are being created. In our work, we have learned that as fast as old businesses end, new ones emerge and that anybody can start them.”

In addition, the program should provide a kick start to Geelong’s budding startup ecosystem — which recently received $1.7m in funding from LaunchVIC.

The regional centre is already home to several incubators and coworking spaces including StartUpCloud and Runway.

Details on the venue will be revealed at a later date. Workers can register their interest on Pollenizer’s website.

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THE upgraded forecast for Australia’s resource exports demonstrates the continuing significance of the resource industry for Australia’s economy and living standards, and the need to better support future investment through more competitive policy and regulation, according Australian resource industry employer group the Australian Mines and Minerals Association. (AMMA).

The Australian Government has upwardly revised its 2016–17 forecast for resources and energy exports by 12% to $175.7 billion, due largely to more optimistic outlooks for iron ore and metallurgical coal.
 
“Even with continued commodity price fluctuations, this export earnings upgrade is further evidence that Australia’s resource industry continues to do the heavy lifting for our economy” says AMMA head of policy Scott Barklamb.
 
“Hopefully this uplift will help spur business confidence and unlock some of the $254 billion of viable resource projects that have not proceeded in recent years.
 
“Australia is not the only country rich in commodities, and competition to attract major foreign investment remains fierce. Despite today’s positive forecast, Australia requires a series of policy and regulatory changes if we are to capture our share of the next wave of global resources investment.”
 
To position Australia as the ‘first choice’ destination for future global resources investment, AMMA members want to see the Turnbull government deliver genuine reform in a range of areas including:

• Reducing the company tax rate from 30% to 25% for all businesses, better aligning Australian tax structures with other resource investment destinations.
• Creating a ‘one-stop-shop’ for streamlined approval processes so new projects in Australia can commence on more competitive timeframes.
• Addressing significant costs and inflexibilities within Australia’s employment laws – starting with implementing the recommendations of the Productivity Commission’s 2015 review of Australia’s workplace relations system.

“Australia’s resource industry is now firmly in the ‘production phase’ with almost half of all Australian exports coming from resources.  To keep the benefits flowing into Australian communities for generations to come, the government must move forward with sensible and effective reforms to stimulate new investment and project growth,” Mr Barklamb says.
 
To learn more about how workplace relations reform in particular can benefit Australia’s resource industry and attract more jobs and more investment to our shores, visit amma.org.au/gettingbackontrack.

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THE House of Representatives Standing Committee on Economics will scrutinise the three financial regulators, the Australian Prudential Regulation Authority (APRA), the Australian Securities and Investments Commission (ASIC) and the Australian Competition and Consumer Commission (ACCC), at public hearings in Canberra on October 14.

The Chair of the Committee, Mr David Coleman, MP, stated that ‘the hearings will give the Committee the opportunity to scrutinise the regulators on their performance and operation. In addition, the Committee will question the regulators on evidence arising from the Committee’s hearings with the four major banks.’

The three financial system regulators each have a distinct role in Australia’s financial and banking system. APRA is responsible for prudential regulation, including promoting financial system stability, while ASIC is responsible for conduct regulation, including consumer protection in relation to banking and financial services. The ACCC’s role is to promote competition and fair trade in markets to benefit consumers, businesses, and the community.

Public hearing details: Friday 14 October 2016, Committee Room 2R1, Parliament House, Canberra

8:30am to 10:30am: ASIC

10:45am to 1:15pm: APRA

2:15pm to 4:45pm: ACCC

Webcast: The hearing will be webcast at aph.gov.au/live

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FOLLOWING the Federal Government bank hearings, National Australia Bank CEO Andrew will address the QUT Business Leaders' Forum on Monday. 

He is a career banker with more than 30 years’ experience who has held senior positions in major Australian banks including the Commonwealth Bank and was MD and CEO of the Bank of New Zealand.

Mr Thorburn will talk about his strategic vision for NAB, a company with 42,000 employees, and the challenges for NAB and the banking industry.

WHO: Andrew Thorburn, NAB CEO

WHAT: Guest speaker at QUT Business Leaders’ Forum

WHERE: Ballroom le Grand, Sofitel Brisbane Central

WHEN: 12.30 to 2pm

www.qut.edu.au

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