Australia/New Zealand Small Business News Round-up – 2009/05/06

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:

  • Conditions worsen for small business:It’s doom and gloom, with small business owners suffering across the board, says NAB survey.
  • Focus on small business viability: AUDITORS will scrutinise financial statements of SMEs this year to assess if they’re a growing concern.
  • Google’s own stimulus package: GOOGLE AdWords is currently offering $75 worth of free advertising for Australian small businesses.
  • Australia snares Silicon Valley wireless start-up: It’s surprising what a few million dollars will do to help attract someone’s attention.
  • Australia 9th best place for entrepreneurs: Australia still ranks as a great place for entrepreneurs to get funding. But Canada is the world’s best.
  • Best time for small business to go online: WITH money tight and jobs scarce, now is an opportune time to start an online business. Web start-ups stand to defy the downturn by riding a wave of online sales that surged 27 per cent in 2008 and 22 per cent in the last quarter, according to the Interactive Advertising Bureau Online.
  • Redundancies cause lasting damage: SMALL businesses are being warned redundancies can cause lasting damage and long-term harm to revenue.
  • Focus on small business viability: AUDITORS will scrutinise the financial statements of small businesses more closely this year to assess whether they are a growing concern, the National Institute of Accountants (NIA) said.
  • Conditions worsen for small business: Small businesses in every state have reported worsening business conditions, a survey shows. National Australia Bank’s small and medium enterprise business condition index dropped eight points in the March quarter to minus-12 points, with businesses in every state reporting poor business conditions for the first time since 2007.
  • Bank gouge small business: Banks can’t beat the credit crunch by shunting the burden onto business, writes David Potts.

As always this list is not exhaustive, but I hope it will give you a little overview. — ST.

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