Pulse Alert – News Pulse for August 12, 2019

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

‘Very charismatic leader’: Why Tim Reed is tipped to head BCA

Tim Reed, the man tipped to become president of the Business Council of Australia, would bring strong communication skills and an affinity for small business to one of the most high-profile, and political, corporate jobs in the country.

That’s the assessment of those who know Mr Reed, who this week announced he would be stepping down from his role as the head of the small business accounting platform MYOB.

PayPal’s SME funding hits $500m as businesses say finance is getting harder

Since it’s launch in 2014, more than $500 million worth of business loans has been funded with PayPal’s alternative business loans product PayPal Working Capital . Businesses looking to apply can do so and are approved for funds against their PayPal sales. So far, more than 25,000 loans have been approved.

The Working Capital loan is one of many alternative finance options being embraced by small businesses in Australia, who are increasingly embracing non-bank options . New research commissioned by PayPal has found two in five (39%) Australian small- to medium-sized businesses (SMBs) said they would be more likely to consider a non-bank alternative lender compared to only 18% that would consider a traditional bank.

Federal Government urged to axe ‘better off overall’ test to streamline EBA process

Enterprise bargaining agreements have become “Downton Abbey-sized laundry lists” and need to be “unscrambled” to lift productivity and wages growth, the Business Council of Australia says.

The council said new research showed enterprise bargaining agreements have “served Australians well”, but contain too many items that risk stalling negotiations.

‘Blurred lines’: Businesses turn to consumer credit as access to finance worsens

Small business credit conditions have continued to tighten over the last 12 months as entrepreneurs struggle with falling housing prices.

Reserve Bank assistant governor Michele Bullock has said the worsening lending conditions raise the possibility an increasing number of firms will default on their loans, or even fail, particularly in regional areas already ravaged by the ongoing drought.

CBD Sydney: MYOB’s Tim Reed set to take Business Council reins off Grant King

Corporate Australia may have breathed a sigh of relief when Bill ShortenHon Bill Shorten MP,  Federal Member for Maribyrnong Leader of the Opposition from 13.10.13 lost in May – the member for Maribyrnong spent much of his campaign ineffectually complaining about the “top end of town” – but the job of lobbying Canberra remains a work in progress.

As this column has noted on more than one occasion , the Business Council of Australia has been trying to find someone to replace president Grant King without success.

Lodging unfair dismissal claims could become more expensive

What do you do when your boss wrongfully fires you? You lodge an unfair dismissal claim to the Fair Work Commission.

But two small business groups have banded together to lobby politicians to make it more difficult for these claims to be heard and to raise the price of lodging such claims.

‘Higher fees would reduce unfair dismissal claims’

The federal government is being petitioned to raise the Fair Work Commission fee to lodge an unfair dismissal application, with claims it would relieve SMEs of erroneous and malicious claims from ex-employees.

In a submission to “relevant government ministers” via the Small Business Association of Australia (SBAA), HR firm Employsure pushed for two key reforms to the unfair dismissal process, which they suggested provide greater clarity and fairness for the nation’s SME employers.

ATO whistleblower Richard Boyle to launch crowdfunding campaign to defend legal case

Australian Taxation Office whistleblower Richard Boyle has launched a crowdfunding campaign to raise money for his legal costs as he defends himself against the prospect of life in prison.

The Adelaide-based former public servant told ABC News he was continuing his battle against “excessive and unjust” criminal charges for blowing the whistle on the ATO Australian Taxation Office in April 2018.

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


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