News Pulse for August 17, 2016

A daily download of SME, startup, fintech and tax news from around Australia.

Startup supergroup TechSydney successfully raises more than $500,000 as it aims to create a world-leading tech ecosystem

Tech supergroup TechSydney has successfully raised more than $550,000 via a crowdfunding campaign and has now set its sights on transforming Sydney into a world-class startup ecosystem.

Late last month, TechSydney became Pozible’s biggest non-profit campaign after it topped $400,000 in just two weeks.

SocietyOne chief Jason Yetton says lending jumps tenfold

Peer-to-peer lender SocietyOne says its new personal lending surged tenfold in the past year, as yield-hungry investors try to grab some of the high returns banks enjoy from consumer finance.

With peer-to-peer lenders taking off overseas, SocietyOne has provided figures that it claims demonstrate it is starting to loosen major banks’ tight grip on Australia’s $100 billion personal credit market.

Businesses drowning in red tape, says Matt Grainger

Matt Grainger knew he would have an uphill battle keeping tabs on the books when he set up his Sydney surf school, which is why taking on a full-time bookkeeper was one of the first decisions he made.

“I just knew that it was something that could get away from you really quickly when you’re growing and you need to stay on top of it because it can get pretty complicated,” he said.

From a Brisbane share house to the world: After two years of working in secrecy, Aussie startup set to launch globally

A Brisbane startup that has been building the next social network in secret in a share house is set to reveal its creation to the world.

The Amity app wants its users to “rediscover communication” through a live social network where they can share photos, locations, messages and video, founder and CEO Johnny Cheng says.

How secure is your business data in the cloud?

We examine how cloud providers secure customer data, how to minimise the chances of data leaks, and how to comply with privacy law.

The privacy card is often overplayed in discussions about cloud computing. That’s not to say privacy isn’t an important issue, only that it is not as big a problem as some would have you believe.

Cabbies threaten legal action over Uber

Taxi owners remain determined about taking legal action against the Queensland government over its lack of compensation for introducing ride-sharing service Uber, says Gold Coast Cabs boss Gordana Blazevic.

Sydney startup OpenAgent closes $12 million funding round as it looks to rapidly expand across Australia

Sydney-based real estate platform OpenAgent has closed a $12 million funding round as the startup looks to continue its rapid growth across Australia.

The large funding round was led by Reinventure and also included Breakthrough Labs and Singapore-based venture capital firm Qualgro.

SMEs seek leadership, reform

Small businesses have taken a hit as confidence drops and the economy slows, but there are a few things governments can do to begin to alleviate the pain.

A decade of lacklustre economic reform left many small businesses vulnerable and exposed when Western Australia’s mining boom turned sour, piling on further pressure after 10 consecutive quarters of falling state final demand.

Tips, comments or suggestions? Let me know in the comments, send me an email or tweet me @simeonduncan.


Leave a reply

Your email address will not be published. Required fields are marked *