Australia has been ranked as the 14th most competitive economy globally, according to the annual World Economic Forum (WEF) Global Competitiveness Report 2018.
“This is great news for the hundreds of thousands of small businesses in the building industry. It will allow them to invest back in their business and expand the number of people they employ. Said HIA Acting Chief Executive of Industry Policy Tim Reardon.
More than 370,000 building businesses will benefit from the Government’s decision to fast track tax relief for SMEs.
“The value of lending to investors declined by more than 20 per cent over the last twelve months while lending to owner- occupiers was down by 7.7 per cent. Given such a large drop, we should expect the market to continue to cool,” said HIA Acting Principal Economist, Geordan Murray.
“The welcome announcement that the Federal Government intends to bring forward the small business tax cuts will boost investment and employment with these benefits spread widely across the Australian economy,” Australian Industry Group Chief Executive, Innes Willox, said.
The first step in the process to award a contract for major works on the Warrnambool and Geelong line upgrades is under way, with a call for Expressions of Interest from contractors.
“An analysis of Australia’s casual employee workforce highlights the potentially devastating impact of the Federal Court’s decision in the WorkPac v Skene case on small and medium businesses,” Australian Industry Group Chief Executive, Innes Willox, said.
Regional businesses and organisations interested in innovation and business development are reminded to register their interest in the Regional New Industries Fund.
Business owners know what it takes to strike a work-life balance with research revealing many are in it for the long-ride.
The Westpac-Melbourne Institute SME Index, which examines the economic health of Australian small and medium sized enterprises, slipped into negative territory (down 4.7 per cent to 98.3) in June 2018, despite perceived improvements in current market conditions over the last 3 months.