News Pulse for May 18, 2018

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

SMEs lending won’t be black and white for banking royal commission

We are only days away from the next instalment of the greatest show in Australian business getting under way again .

Senior counsel assisting the banking royal commission, Rowena “Shock And” Orr will be sharpening her dagger-like questions to a fine point, while Commissioner Ken Hayne will be pondering where to make his wise interventions in each day’s proceedings.

Increasing the minimum wage doesn’t hurt jobs, says RBA, but it’s not clear cut for small businesses

New research from the Reserve Bank of Australia suggests increasing the national minimum wage won’t reduce the number of hours Australian employees work, but as the Fair Work Commission enters the final day of hearings for its annual wages review, those in the small business community say things aren’t that simple.

On Wednesday RBAReserve Bank of Australia www.rba.gov.au researcher James Bishop released a paper crunching the numbers from 32,000 jobs between 1998 and 2008. He found that where the minimum wage had been increased by a flat dollar amount each year, it had “no adverse affect on hours worked”.

Famed business leaders gather to support SMEs

Prominent Australian business leaders including Mark Bouris and Collette Dinnigan are set to gather in support of the SME community to tackle common problems holding back business growth.

Mr Bouris, host of Channel 7’s The Mentor and founder of Wizard Home Loans, and Ms Dinnigan, one of the country’s best-known fashion designers, will be joined by Melanie Perkins, CEO and co-founder of graphic design site Canva, Nic Marceshi, co-founder of social enterprise Orange Sky Laundry, and former accountant turned comedian Anthony ‘Lehmo’ Lehmann as part of the second annual Quickbooks Connect. Intuit founder Scott Cook will also make an appearance.

Deliveroo makes every employee a shareholder

Food delivery service Deliveroo has joined the latest trend in boosting staff engagement and productivity by announcing it will make all employees shareholders of the business.

The global technology company, which was established in 2013, has a 2,000-strong workforce worldwide, including 80 employees based in its four Australian offices, demonstrating the scale of change in food deliveries in recent years.

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