News Pulse for August 9, 2016

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

Federal government grants to help your small business: 2016

Winning a government grant can give a small business a much-needed helping hand overcoming one of its biggest challenges: cashflow.

But finding out which grants are available to your business, and navigating the application process, can be a minefield.

Here’s SmartCompany ’s list of the some of the best federal government grants.

Pitching to the Needs of Small Business – Living in the Now

The SMB sector in Australia is under more pressure than ever before. Issues of cash flow, profitability and productivity are ever present and are some of the biggest pain points for the majority of small business owners. In addition, the recently announced government cabinet line-up has added increasing demands to this sector by removing the small business portfolio from cabinet.

Why payments terms matter to SMEs – and the economy

Michael West recently wrote a great article on payment terms . The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) is onto this topic as well and has taken submissions on changes to payment terms and their impact small business.

I made a submission to the ASBFEO because I think this is an area that is crucial to small and medium business. My submission looked at the actual changes in debtor days for six of my clients over the last three years.

Global food delivery giant Deliveroo raises $361 million as it looks to “deepen its roots” in Australia

Global on-demand food delivery company Deliveroo has closed a $361 million ($US275 million) Series E round as the startup giant looks to “deepen its roots” in Australia.

Australia was one of those markets that Deliveroo launched into in November last year , with the food delivery service now operating in Melbourne, Sydney and Brisbane.

Deliveroo Australia country manager Levi Aron says the local growth has been “nothing short of phenomenal” and the funding round will go towards expanding the startup’s reach in Australia.

Small business delivery start-up Sendle raises $5 million

Small business parcel delivery start-up Sendle has secured $5 million in funding from investors including Full Circle Venture Capital, Black Sheep Capital and rampersand.

The capital raise comes as the business has recorded 20 per cent month-on-month growth for the past year, giving its founder and chief executive James Chin Moody confidence in the future growth potential of the firm.

What Small Businesses Can Learn From The NRMA And Parking Made Easy Dispute

Over the past few years, a strong entrepreneurial spirit has developed in Australia, leading to a record number of startup businesses. While this is fantastic, a great idea needs to be properly thought through from a legal perspective so it doesn’t hit a road block when it comes time to get it off the ground.

Big corporations in particular watch the new players in the market, what their offering is and if it competes with anything they might be working on. Consequently, I have seen an increase in copyright and IP cases here in Australia over the past two years.

Address to the National Research and Innovation Alliance

I’m honoured to be here today to speak with you, our nation’s preeminent science leaders.

I want to thank you for your ongoing leadership and support for Australian science, and for the work you do to place Australian science on the global map.

I am deliberately delivering my first major speech as Minister for Industry, Innovation and Science, on science.

Taking up this portfolio is a great honour that comes with great responsibility. Let me speak first about what this portfolio means to myself and the Government.

Fintech B2B small business lending marketplace Bigstone raises $3 million

Fintech start-up Bigstone has raised $3 million from a range of investors, including ASX-listed diversified investments and venture capital firm CVC, to grow its small business lending marketplace and offer an alternative to the big banks.

The seed funding round is the first capital raised by the start-up, which connects small businesses wanting to borrow up to $250,000 with non-bank lenders.

I won’t be giving my name to census: Xenophon

Senate crossbencher Nick Xenophon will defy the requirement to provide his name when he fills out Tuesday’s census.

With controversy surrounding the extension of the retention of names from 18 months to four years, Xenophon wants to prompt a test case on the validity of the requirement.

Australian Tax Office to target hospitality sector

Chris Hope, director of accounting firm Bentleys NSW, says small business owners within the food service and hospitality sector “may feel they are being targeted unfairly by the ATO Australian Taxation Office”.

The ATO Australian Taxation Office is justifying its focus on this industry sector because it claims 42 per cent of restaurants, cafes, takeaway food stalls and catering business owners were a higher risk of not meeting their tax obligations.

The new Turnbull Ministry and leadership on tax

Notwithstanding the demise of the ambitious Tax Re:Think and Federalism projects leading up to the 2016 Federal Election, the newly appointed Federal Ministers to Treasury, Finance and business portfolios will find that tax reformers never give up.

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


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