News Pulse for August 17, 2017

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

It took 5 years of research for Cyber Plus to tailor cybersecurity insurance for small businesses

It took over 5 years of research and due diligence to evaluate potential cybersecurity risks and build a cyber insurance policy that underwriters would be willing to back, a Cyber Plus director has revealed as the company debuted its Small Business Bundle of insurance, services and security tools.

The long lead time stemmed from the need to carefully evaluate past breach experiences, tool effectiveness, and the real business risk around cybersecurity attacks, director Paul Waite told CSO Australia. Careful attention, he said, was paid to the problems small and medium businesses (SMBs) had when trying to claim damages under existing insurance policies.

Brisbane start-up secures international deal with Vodafone

A Brisbane start-up business consisting of just eight people has become a global leader in the digital business cards sector after closing an international deal with Vodafone.

The app, Haystack, took three years to develop and is a digital alternative to the traditional paper-based business card.

Franchise Council’s Bruce Billson no champion of small business

Former federal MP Bruce BillsonThe Hon. Bruce Billson MP, Federal Member for Dunkley Minister for Small Business from 18.9.13 to 21.9.15 was always a hit with the Canberra Press Gallery, its bored scribes and snappers adoring of his small-town flamboyance. And remarkably, Billson’s legend has barely been dinted by the revelation that for nearly four months last year until his retirement at the July 2 election, he was receiving his parliamentary salary while also being paid as executive director of lobby group the Franchise Council of Australia, in direct breach of parliamentary rules.

Fairer deal for small business secured | The Hon Michael McCormack MP

FAIRER competition laws for small business passed the Parliament last night, levelling the playing field so small businesses can compete, Small Business Minister Michael McCormack says.

“The passage of section 46 is another Bill which backs small business and delivers on the Liberals and Nationals’ election promise,” Mr McCormack said.

Victorian business speaks out over WorkCover insurance bill with “punitive” extra amounts for instalment payments – SmartCompany

A Victorian business says it will be forced to put itself under pressure to come up with all the funds needed to pay a dramatically higher WorkCover insurance policy this year, after being notified that paying off the annual policy in instalments would increase the total amount owed by 17%.

Morrison’s reform agenda is thin

Amid the parliamentary mayhem of the week, Scott MorrisonThe Hon. Scott Morrison, Federal Member for Cook Treasurer from 21.9.15 succeeded in legislating his reforms to competition law, strengthening provisions on the abuse of market power, clarifying the rights of third parties to gain access to infrastructure, and making it easier to get approval for mergers.

It was a difficult process, achieved over the objections of the Business Council of Australia and the Labor Party, amid cabinet divisions that former prime minister Tony AbbottThe Hon. Tony Abbott MP Federal Member for Warringah Prime Minister from 18.9.13 to 15.9.15 had found impossible to overcome.

Ombudsman making a real difference for small business | The Hon Michael McCormack MP

THE Australian Small Business and Family Enterprise Ombudsman has made a significant contribution to Australia’s 3.2 million small businesses and family enterprises, a review released by Small Business Minister Michael McCormack today has found.

“The Liberals and Nationals created the Ombudsman’s office in March last year to ensure our small business sector has the independent advocacCommunications Access Co-ordinatory and assistance it deserves,” Mr McCormack said.

STP super problems

The Australian Taxation Office’s Single Touch Payroll automation system could push workers into choosing unsuitable and high fee superannuation funds, Industry Super Australia believes.

The system, to be rolled out to all employees with 20 or more workers by July 1 2018, will speed up and simplify payrolls by notifying the ATO Australian Taxation Office immediately of wage and salary payments, tax payments  and superannuation contributions immediately when they are made.

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