News Pulse for August 19, 2016

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

Federal government plans innovation fund to give mid-market businesses a boost: “Innovation is not just about tech startups”

The Federal Government is moving away from its focus on startups in the latest phase of its “Innovation Nation” plans by looking to fill the funding gap for mid-size companies.

In an opinion piece in the Australian Financial Review today Minister of Industry, Innovation and Science Greg Hunt argues “innovation is not just about tech startups or IT. It’s also about established businesses doing things better.”

Better protection from unfair contracts for small businesses afoot

How many times have you been in discussions with a larger or more powerful supplier or customer and been presented with a one-sided contract and told that if you want the business you have to agree to it? Particularly if you are a small or medium-sized business in Australia, the reality is that this will happen regularly.

Australia’s competition law (the Competition and Consumer Act 2010 ), is much like the law of the jungle — it is about survival of the fittest, rather than ensuring the survival of particular competitors.

Casual Employment Counts Towards Redundancy Pay

Australian employees will now have their casual employment calculated towards their redundancy entitlements as a result of a recent Fair Work Commission ruling.

Uber could be operating in Tasmania within months

Ride-booking service Uber has confirmed it will start operating in Tasmania, possibly within a matter of months.

Legislation paving the way for Uber and similar services passed the Upper House of Parliament today.

Address to the AFR National Innovation Summit

The Minister for Industry, Innovation and Science, Greg Hunt, addressed the AFR National Innovation Summit in Sydney.

Let me start with a simple proposition – innovation is about both old and new businesses.

Uber effect weighs on Sydney Airport’s earnings from car parking

Sydney Airport has long been pilloried for the amount it earns from excessive car parking charges.

But even it is starting to feel the pinch from the Uber effect as passengers opt for ride sharing to get to or from Kingsford Smith instead of driving and parking at the airport.

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