News Pulse for January 8, 2018

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

More Aussies getting a little on the side

ENTREPRENEURIAL Aussies are set to make 2018 the year of the ‘side hustle’, with improved technology enabling more people to turn a hobby or idea into a second income stream.

Recent research by accounting company Xero revealed 62 per cent of Australians are seeking additional income streams and nearly a quarter already have a side business on top of their regular income.

NAB listens to entrepreneurs about balance and revamps micro loan program

When Tomas Jajesnica was ready to embrace career change with a new business idea he hit a brick wall. His business plan for a franchise-style meditation service was solidifying but funding was impossible to secure.

“My capacity to get a loan was pretty much non-existent. I had a lot of personal debt. Nobody was keen to lend to me,” said Mr Jajesnica.

Big business tax break costs nearly $300 million

The budget for a controversial state government tax-break scheme has more than doubled, with major corporations among its biggest beneficiaries, new data shows.

Previously unreported data released under freedom-of-information laws late last year shows a near tripling in a controversial state government payroll tax break for corporations hiring new employees.

Small business owners work longer than doctors

SMALL business owners are working harder than ever, new research showing a quarter are working seven days and more than 50 hours a week across the country.

Aussie owners are working longer hours than doctors, with 16 per cent working more than 60 hours a week, a survey by online small business lender Prospa shows.

More Aussies getting a little on the side

ENTREPRENEURIAL Aussies are set to make 2018 the year of the ‘side hustle’, with improved technology enabling more people to turn a hobby or idea into a second income stream.

Recent research by accounting company Xero revealed 62 per cent of Australians are seeking additional income streams and nearly a quarter already have a side business on top of their regular income.

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