Business News Releases

Small Business calls for stable leadership and focus on the economy

THE Council of Small Business Australia (COSBOA) is calling for all Members of Parliament to focus on the job of running the country, not on chasing votes through opinion polls as internal divisions and lack of confidence within the Liberal Party threatens to destroy the nation’s leadership.

Paul Nielsen, Chairman of COSBOA said today, “Our members are sick and tired of continued leadership uncertainty and policy stonewalling in the federal sphere. SME owners know that a business without leadership fails, a business where leadership is uncertain fails and businesses without a plan or a strategy and the capacity to execute it is going to fail. 

"Federal politicians, whether on the Government front bench, the back bench, or on the Opposition parties must put the wellbeing of the country before their personal agendas. All MP’s must work to fix these issues one way or the other and stop playing shallow politics.  Small business must have certainty to reboot our economy.”

Peter Strong, CEO of COSBOA added, “In times of uncertainty it is those people who control organisations with money and power who often see the opportunity to push their personal agendas.

“In the last twelve months the small business community has had the best policy focus we have ever had due to the efforts of the likes of Bruce Billson, Josh Frydenberg and Ian MacFarlane. The focus has been on competition policy, contract law, the performance of regulators, the future appointment of a Small Business Ombudsman, the improved franchise code of conduct, the outing of Large Corporates as toxic corporate partners for small business as well as a focus on fixing the vocational training problems in our country, this has been extraordinary. 

“We do not want to lose the focus on these issues that are so important to the social fabric of Australia and to the economy. Those small number of big businesses and organisations, including a lot of big businesses that do not contribute an equitable share of tax dollars, may well use this  uncertainty to remove the focus on the economy and replace it with their vested needs. The extremes of left and right ideology may also use this to push their own agendas” Mr Strong concluded.

Paul Nielsen added that, “The country has had far too many years of policy and leadership uncertainty and that has to change. Next month our CEO will be outlining the threats to our nations continued prosperity generated by a minority of unelected people and organisations whose vested agendas can promote their own welfare not national wellbeing.

"In the meantime we do not want to see the current leadership issues in the Federal Parliament dominate the business of Government and we call upon all MP’s and Senators to resolve these issues once and for all.”

www.cosboa.org.au

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2015 Australian Small Business Champion Awards entries called

THE 2015 Australian Small Business Champion Awards applications are set to close on February 18.

The awards recognise small business leaders in wide variety of industry categories. Small business people dedicate their lives in serving their communities and deserve recognition.

These awards are the only dedicated national program recognising small business.

All small businesses in Australia’s retail, services and manufacturing industries are eligible to enter the awards – there are 39 categories in total.

Everybody loves a winner, and the awards will put outstanding businesses on the map, making customers, suppliers and communities stand up and take notice.

Steve Loe, founder of the awards and managing director of Precedent Productions said, “Now in its 17th year, the national awards program has established a reputation for excellence and has become known as the ‘Oscars’ of the small business community in Australia.

“It provides an opportunity for small businesses to celebrate and receive national recognition for their achievements.”

Entries for the 2015 Australian Small Business Champion Awards are now being accepted and close on Wednesday, 18 February 2015.

The Australian Small Business Champion Awards are proudly supported by major sponsors TrueLocal, and associate sponsors BizCover, Castaway Financial Forecasting System, FrontLine and Key Person of Influence.

Businesses throughout Australia will be competing on a national level to be named Australian Small Business Champion in their category at the national awards ceremony in April at The Westin Sydney.

Entry forms are available at www.businesschampions.com.au

For further information about the Australian Small Business Champion Awards visit www.businesschampions.com.au.

 

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Six banks cut so far - Finder.com.au

SIX lenders out of more than 100 monitored by finder.com.au have so far announced rate cuts to their variable home loans since the Reserve Bank announced the cash rate drop yesterday.

These include Bank of Queensland, Commonwealth Bank, ING Direct, Maitland Mutual Building Society, ME Bank and Westpac.

"The biggest rate cut was by Westpac, announcing a 0.28 percentage point reduction effective February 20, 2015," Finder.com.au money expert Michele Hutchison said.

"However Westpac still holds one of the highest standard variable rates, which will drop to 5.70 percent on February 20.

"The lowest standard variable rate out of these six to have dropped so far is by ING Direct, which will be offering a standard variable rate of 4.97 percent.

"We're expecting all lenders to make their announcements some time over the next week and the effective dates are so far from February 20.

"Borrowers need to be careful with the announcements they hear to make sure they understand their home loan details because the effective date could be several weeks after the announcement.

"For instance, if you repay your variable mortgage on a monthly basis, your reduced repayments won't come into effect until next month," Ms Hutchison said.

"Borrowers will receive notification by their lender with a rate change, usually by the post, and it will explain the new interest rate and new minimum monthly repayments. Keep in mind that you don't have to reduce your repayments – you can call your lender and ask them to keep your repayments at the former amount as this will save you on interest charges and pay off your home loan sooner.

"For instance, let's say you have an average $300,000 home loan at 5.35 percent average variable interest so monthly repayments are about $1,675. If your lender passes on a 0.25 percentage point discount and offers a new minimum repayment of about $1,629. By keeping your repayments at $1,675, you could potentially save over $20,000 and shave almost two years off the 30-year loan term."

To find the latest updates as they come through: www.finder.com.au/rba-cash-rate


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Survey confirms retailers stance on unregulated credit card systems

THE Australian Retailers Association (ARA) said retailers were calling for all credit card systems to be regulated in the same way, as outlined in the David Murray Financial Services Inquiry (FSI) submission and further confirmed by the latest Ipsos survey.

ARA Executive Director Russell Zimmerman said 94 percent of all businesses surveyed said credit card systems should be regulated in the same way.

“This overwhelming response confirms what retailers were telling us as part of our David Murray FSI submission.

“In the final report to government, the FSI report confirmed there was a need to bring all card systems under the same rules and regulations as the two big card systems.

“The ARA will be writing to the new Assistant Treasurer Josh Frydenberg as part of the FSI process and is meeting with him today to reinforce retailers’ position on this issue - that the excessive merchant fees charged by card schemes such as Amex and Diners Club need to be addressed so retailers can reduce or remove surcharging as with the two big card systems.

“The truth is there is a distortion in the marketplace by not regulating Amex and Diners Club cards, and with 55 percent and 23 percent market reach respectively, retailers feel they need to accept these cards because of promotional schemes and to ease transactions for consumers.

“Because of this skew retailers either have to absorb the excessive merchant cost or pass on a surcharge to consumers, when they don’t in most circumstances if they use the regulated MasterCard or Visa schemes.

“It is time to address this imbalance and create a level playing field for all payment systems,” Mr Zimmerman said.
 
*Click here to view survey infographic
 
Since 1903, the Australian Retailers Association (ARA) has been the peak industry body representing Australia’s $265 billion retail sector, which employs over 1.2 million people. The ARA ensures retail success by informing, protecting, advocating, educating and saving money for its 5,000 independent and national retail members throughout Australia.

Visit www.retail.org.au or call 1300 368 041.

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Brisbane secures leading national cultural festival

QUEENSLAND will stage Australia’s only Baroque festival under a new three-year agreement, reinforcing the state’s reputation as a cultural mecca.

Tourism and Events Queensland (TEQ) CEO, Leanne Coddington, said the popular festival, previously hosted in Hobart, would see a series of exclusive cultural events staged in Brisbane in April.

“The nine-day Brisbane Baroque, artistically directed by art impresario Leo Schofield AM, is the only one of its kind dedicated to this art form in Australia,” Ms Coddington said.

“Cultural tourism is a significant contributor to the economy and vibrant events such as Brisbane Baroque are an important lure in attracting more visitors to Queensland. 

“We anticipate that this event will generate more than 36,000 visitor nights and $9 million in visitor spending through until 2017. 

Brisbane Baroque is a cultural celebration of late 17th and early 18th century music, which will be staged at venues such as the Queensland Performing Arts Centre (QPAC), Brisbane City Hall, the Queensland Conservatorium Theatre, and select churches throughout Brisbane.

Brisbane Baroque will feature an exclusive Australian-first production of Faramondo, a rare opera by George Frideric Handel, one of the most prolific composers of the Baroque era.  

“With continued growth, TEQ expects the event to compete globally with other major international Baroque festivals such as the Valletta International Baroque in Malta, the Boston Early Music Festival in the USA, and the Göttingen International Handel Festival in Germany,” Ms Coddington said.

Brisbane Baroque will be promoted as part of It’s Live! In Queensland, an initiative which highlights the perfect union of world-class events and destinations.” 

Brisbane Baroque Artistic Director, Leo Schofield, said he was delighted the event was making its way to Queensland’s capital city in 2015.

“This city aspires to be the cultural capital of Australia and in recent years has made huge strides towards that goal,” said Mr Schofield.

“Queenslanders certainly understand the value of cultural tourism which is why a unique festival of early music has such appeal.” 

Executive Director, Jarrod Carland, said Brisbane provides the perfect backdrop for locals and visitors to experience unique cultural offerings.

“Not only will Brisbane Baroque feature leading overseas artists, it will also provide an opportunity to showcase the talents of young Australian and Queensland musicians,” Mr Carland said.  

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RBA rate cut could inflate housing bubble: QUT economist

AN INTEREST RATE cut by the Reserve Bank of Australia tomorrow (Tuesday) would risk stoking the real estate fire a QUT economist has warned

QUT financial economist Dr David Willis said the RBA should not move on interest rates while inflation and the Australian dollar were at reasonable levels.

The RBA has kept the cash rate at 2.5 per cent for the past 18 months.

"The risk of lowering interest rates is that the market may assume the RBA will continue to cut further and the currency will fall below its preferred level," Dr Willis said.

"Last year the RBA made it quite clear that it would like to see the Australian dollar at about 75 US cents so with it currently sitting at 78 cents it is close to their preferred level.

"In addition the RBA doesn't want to risk stoking the real estate fire and potentially creating an artificial bubble in the housing market.

"So I cannot see any hard and fast reason why the RBA should move."

Dr Willis said he expected growth in the Australian economy would be below the long term average but the chances of a recession were "close to nil".

"With inflation still in the middle of its preferred range, there is no really compelling reason to lower rates as the economy is not in danger of deflation, as it is in Europe and Japan, and is in no danger of recession," he said.

"The AUD will fall over this year but it will be a slow decline which the economy can adjust to as it falls.

"The Australian economy is still under structural change from mining to consumption-led growth. But with low interest rates already and low petrol prices, there is enough stimulus in the economy and plenty for the consumer to either spend, save or pay debt down."

Dr Willis said the rate of unemployment was the main issue for the RBA.

"But dealing with this may be more a need for fiscal stimulus than anything the RBA can do as monetary policy is already quite accommodating," he said.

www.qut.edu.au

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Low inflation and fuel costs to boost retail spending

THE Australian Retailers Association (ARA) said the Consumer Price Index (CPI) released today showed inflation of 0.2 percent in the 2014 December quarter which followed a rise of 0.5 percent in the September quarter providing explanation of reduced pricing during the 2014 Christmas period.

The CPI rose 1.7 percent in the year to the December quarter compared with a rise of 2.3 percent in the September quarter showing a slow yet steady pace in the lead up to Christmas 2014 sales.

ARA Executive Director Russell Zimmerman said retailers kept prices low through discounting over the Christmas period and the ARA was hopeful competition in the supermarket sector would also continue to put pressure on prices.

“Competition on everyday prices in the supermarket sector has shown benefits in the latest CPI figures and the ARA calls for the government to increase that competition in its current competition review process.

“There is no doubt lower fuel costs will flow through the supply chain which will further reduce costs, leaving more cash in consumer pockets to drive retail sales,” Mr Zimmerman said.

While there has been some pressure from the higher Australian dollar on imports, all indications show lower fuel costs and fierce competition to drive costs lower.

The Australian Retailers Association now looks towards the release of the December retail trade figures to confirm its pre-Christmas predictions of $45 billion which is expected to be an influence of today’s CPI December quarter figures.

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Since 1903, the Australian Retailers Association (ARA) has been the peak industry body representing Australia’s $265 billion retail sector, which employs over 1.2 million people. The ARA ensures retail success by informing, protecting, advocating, educating and saving money for its 5,000 independent and national retail members throughout Australia.

Visit www.retail.org.au or call 1300 368 041.

Job seekers to benefit from new vocational education measures

THE Australian Retailers Association (ARA) today welcomed the re-elected Baird Government’s announcement of new vocational education and apprenticeship measures – making it easier for at least 240,000 young people to gain employment.

The plan is to make it free for 200,000 disadvantaged young people to go to TAFE and other vocational education and training providers.

ARA Executive Director Russell Zimmerman said the program will fit perfectly into the work retailers are already doing to skill staff into jobs.

“The ARA has been running a number of programs to assist job seekers with the assistance of the NSW and Federal Governments, with today's announcement an fitting addition to help young job seekers into known retail developments and new career pathways.

“Premier Baird is continuing to support retail in NSW as a corner stone of the state's growing economy and this initiative will see benefits for job seekers and employers alike,” Mr Zimmerman said.

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Since 1903, the Australian Retailers Association (ARA) has been the peak industry body representing Australia’s $265 billion retail sector, which employs over 1.2 million people. The ARA ensures retail success by informing, protecting, advocating, educating and saving money for its 5,000 independent and national retail members throughout Australia.

Visit www.retail.org.au or call 1300 368 041.

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Public hearings on Data Retention Bill

PARLIAMENT’s Intelligence and Security Committee will hold public hearings this Thursday and Friday for its inquiry into the Telecommunications (Interception and Access) Amendment (Data Retention) Bill 2014.

A wide range of government and non-government organisations will be represented at the hearings, including telecommunications companies, IT industry bodies, legal experts, media and consumer organisations.

The Committee will also hear from state and federal police forces, as well as independent statutory authorities including the Commonwealth Ombudsman, the Australian Privacy Commissioner, the Inspector-General of Intelligence and Security and the Australian Human Rights Commission.

The Data Retention Bill seeks to implement a mandatory telecommunications data retention regime. It contains measures to require telecommunications suppliers in Australia to retain certain data for two years.

The data would not include a person's web-browsing history, or the content of a communication, email or social media post. The Bill would also limit those able to access telecommunications and stored data to enforcement agencies with a demonstrated need and with appropriate internal procedures to protect privacy.

The Chair of the Committee, Mr Dan Tehan MP, said “While the Committee’s first hearing in December focused on the nature of the proposed data set and the utility of that data for law enforcement and security agencies, at this week’s hearings we expect to discuss a very broad range of issues.

“We will be considering the appropriateness of the data retention regime proposed in this Bill and its application to the investigation and prosecution of serious criminal offences and to countering threats to national security. Safeguards and oversight will be a key focus for the Committee.”

Details of the hearings are as follows:

Thursday, 29 January 2015 – 8.30am to 6.20pm
Committee Room 2R1, Parliament House, Canberra

Friday, 30 January 2015 – 8.00am to 1.30pm
Committee Room 2R1, Parliament House, Canberra

The committee has received nearly 200 written submissions to date from a broad range of sources. The due date for submissions passed on 19 January, and the Committee intends to report by 27 February 2015.

Further information about the inquiry, including programs for the two hearings and copies of submissions, can be accessed via the Committee’s website at http://www.aph.gov.au/pjcis.

The Bill and Explanatory Memorandum can be accessed via http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation.

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DCA welcomes backtrack on Paid Parental Leave Scheme

DIVERSITY Council Australia welcomes the Prime Minister’s announcement that the Government would shelve the expanded Paid Parental Leave scheme in favour of reforms focusing on improving access to and affordability of childcare.

Lisa Annese, DCA’s CEO, said one of the biggest factors affecting the participation of female employees in organisations is childcare.

“In a survey of our employer member organisations in 2014, nearly 95% of employers said access to and availability of affordable childcare presented difficulties for their employees," Ms Annese said.

"There is no doubt that this is a major disincentive to women participating more fully in the workforce.”

Paid Parental Leave (PPL) is important but childcare is a bigger issue for employers, according to Ms Annese.

“The existing government funded PPL scheme provides a very important safety net for new parents," she said.

"However, as suggested by the Productivity Commission and in line with feedback from our members, we support the Government’s plan to direct funds allocated for the expanded PPL scheme towards improving accessibility and affordability of childcare as this is likely to have a greater positive impact on the workforce participation of women,” said Ms Annese.

Access to flexible working and careers is also critical to women’s workforce participation, added Ms Annese.

“DCA encourages the Government to ensure that an emphasis on workplace flexibility is promoted and supported as a critical part of maintaining progress on workplace gender equity and supporting parents – especially those with younger children – to remain in paid work. Clearly, more needs to be done to support the cultural shift in Australian business necessary to mainstream flexibility to the benefit of Australian parents."

www.dca.org.au

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Queensland’s peak tourism industry body says a vote for tourism is a vote for jobs

QUEENSLAND'S peak industry body for tourism, the Queensland Tourism Industry Council (QTIC), believes now is the time to seize upon major tourism opportunities to accelerate employment figures and business prosperity.

QTIC Chief Executive Daniel Gschwind said employment and investment in tourism will energise Queensland’s prosperity.

“Tourism contributes $23 billion to the state’s economy and more than 241,000 Queenslanders are directly and indirectly employed within the tourism industry,” Mr Gschwind said.

“One in 10 Queenslanders are already working within the state’s tourism industry and we think more tourism jobs can be created, significantly assisting other state priorities.

“The global market opportunities are there to increase the benefits from tourism, particularly in regions where many people are looking for work and could become employed within the tourism industry.”

Tourism is projected to be among the world’s fastest growing industries with growth forecasts at four per cent per year between 2013 and 2033 – more than doubling in size over the next two decades.

Tourism is the second largest export earner for Queensland and already delivers one in every 12 dollars to the state’s economy through tourism spending.

Mr Gschwind said using the right approach could see Queensland take a bigger market share of this growth.

“QTIC expects the next state government to re-commit to work with tourism businesses to accelerate the momentum gained from the hard work achieved in recent years,” he said.

“We want to see continuity in working towards the 2020 tourism targets and the 20 year plan. We don’t want these changed. We’ve made good progress and we need to stick with this course.

“Tourism operators are looking for an increased, competitive investment from the government for marketing and events with budget certainty for the next four years.

“We expect tourism’s importance to the Queensland economy will be further escalated as the size and contribution of other major industries and sectors changes and reduces in the future.”

QTIC believes it is critical for Queensland to sustain its natural assets and pull out all the stops to protect and preserve the state’s special destinations such as the Great Barrier Reef.

“We want to see the government provide certainty and reassurance to industry and communities that environmental management and protection policies also reflect tourism and residents interests,” Mr Gschwind said.

“We’re also calling for increased infrastructure investment in transport amenities including roads and national park facilities.”

QTIC is the peak industry body for tourism in Queensland, acting as “The Voice of Tourism”. QTIC is a private sector, membership-based organisation representing the interests of the tourism and hospitality industry across Queensland.

Tourism Priorities for Queensland

Accelerate investment in infrastructure for jobs growth and economic stimulus

• Accelerate investment in major infrastructure, including the Bruce Highway, sport and entertainment/convention facilities,national park facilities and multimodal transport systems that support regional communities, deliver benefits for other industries and locals and provide capacity to cater for future demand.

• Boost investment and cooperation in aviation and air route development.

• Stimulate private sector investment in tourism infrastructure through incentive programs and efficient regulatory frameworks.

• Invest in digital infrastructure to enhance accessibility and availability of services for visitors, industry, regional communities and governments to create consumer and business opportunities.

 

Invest in innovation to drive individual and collective business and product development

Business
• Support the development of an industry-led framework for business standards, as an alternative to regulation, which raises quality business and product development outcomes.

• Invest in industry-led capacity building programs that recognise the entrepreneurship mindset and encourage future innovation, workforce, business and product development.

• Invest in Open Data initiatives that enable business, industry, regional communities and governments to access and share information to remain globally competitive.

Workforce
• Accelerate the establishment of an industry-led partnership with the education and training sector to raise the quality of training and re-position the sector to meet current and future tourism skills, business and workforce demands.

 

Competitive investment in tourism for marketing, events and industry capacity building

• The current marketing and events investment of $100 million achieves $17 billion in visitor expenditure and supports 241,000 jobs. Other states and overseas destinations have been able to take market share off Queensland with increased investment. To achieve $30 billion by 2020 Queensland’s investment must be set at a more competitive level and be assured over a period of at least 3-4 years to build business partnerships and allow for effective event planning.


Maximise Queensland’s destination advantage

• Commit resources to regional tourism destinations to continue to deliver economic and community benefits.

• Support local governments to deliver positive social and economic tourism returns to regional communities.

• Stimulate public and private sector investment in regional tourism infrastructure through the adoption of the Next Generation Tourism Planning guidelines in local government planning schemes.

 

Preserve Queensland’s natural assets and cultural heritage

• Provide certainty for industry and communities that environmental management and protection policies will reflect tourism interests, particularly in areas of state and national significance. The capacity of governments and industry to sustainably manage these areas is an integral part of Queensland’s global competitive advantage.

• Allocate funding for industry partnerships with Aboriginal and Torres Strait Islander people through tourism activities, providing employment and Indigenous business development outcomes.

 

Advance industry structural reform designed for global competitiveness

• Work with industry to develop an industry structure that is more efficient, effective and coordinated.

• Progress the strong industry-government partnership through recognition of tourism as one of the economic drivers of the state’s economy.

www.qtic.org.au

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Contact Us

 

PO Box 2144
MANSFIELD QLD 4122