Here is this week’s news round-up for home business, micro business, sole-traders, freelancers, self-employed and any one who is interested in small business news from Australia and New Zealand:
- Banks ready to move in: BANKS will begin to call in insolvency practitioners as small businesses feel the effects of the credit crunch and higher interest rates, industry experts say.
- Top ways to cut red tape: SOME small businesses spend up to 20 hours a week just on administration, a survey has found. Here we analyse top ways to reduce time dealing with red tape.
- Bringing down the Goliaths: HOW else was the small importing company to react when the large national distribution company tore up its multimillion-dollar contract? It seemed such a flagrant breach that the small company’s directors headed straight for the Supreme Court. Why couldn’t David sue Goliath and win?
- Solving Australia’s innovation crisis: SmartCompany has assembled a group of 17 entrepreneurs and experts to a Roundtable to identify the next 10 multi-billion dollar industries – and create an action plan for developing an entrepreneurial Australia.
- Red tape a big task for small business: SOME small businesses spend up to 20 hours a week just on administration, according to a survey released by Westpac and East and Partners.
- Economic stats and risk research offer tips for small business: A LEADING debt agency has identified the businesses most at risk as bad debts rise. On Monday the Insolvency and Trustee Service said rising interest rates and petrol prices had resulted in a 10 per cent jump in bankruptcies in Sydney. It is thought NSW is the economic basket case and these figures partly make the case.
As always this list is not exhaustive, but I hope it will give you a little overview. — ST.