Business News Releases

Australia’s next generation technology innovations go head-to-head at CeBIT PitchFest

SOME of Australia’s most promising technology start-up companies have been announced as finalists in CeBIT Australia’s PitchFest, a competition allowing entrepreneurs to give a creative pitch to a panel of successful business owners and technology experts.

Held on day three of Asia Pacific’s largest business technology conference and exhibition at ICC Sydney on 25 May 2017, CeBIT PitchFest offers entrepreneurs practical real-world pitching experience, and the chance to receive feedback from world leading entrepreneurial experts and key influencers, including senior representatives from TiE Sydney.

The coveted start-up organisations have the ability to transform how we live and do business; the CeBIT PitchFest 2017 finalists are:

  • Inkerz: bringing the internet of things to education, Inkerz utilises cutting-edge technology to bridge the gap between a notepad and the computer to increase the effectiveness of online learning
  • ​Look Who's Charging: simplifies the search to find which company has charged your credit card, set to reduce  the hours customers spend on the phone to banks making enquiries
  • Rivuu: changing how social media content is created, approved and scheduled, Rivuu streamlines social media work processes for faster turnaround times for agencies and businesses
  • Sound Scouts: a game designed to test the hearing of children, especially around the time they start school
  • Share with Oscar: dubbed the ‘Airbnb for parking’, this is Australia’s first real time, on-demand, parking application that facilitates the rental of private parking spots
  • Hosonto Middleware: an end-to-end development platform for web and mobile applications that utilise patent pending Automated Model View (AMV) framework to allow developers to focus on user interface and business logic
  • KeyHub: key storage facilities that allow short rental accommodation hosts to safely store and swap keys with guests in a secure and convenient location
  • ​Arludo:a gamification app that combines augmented reality and play to empower teachers to teach STEM subjects and encourage students to engage and learn
  • Ontoto: an advanced water monitoring solution to measure water level and temperature, designed and made in Australia
  • ​Smart Grid Energy: a unique solar power metering system developed by Enopte to address the rising costs of power. The system is free to access and can save users up to 30% on costs with access to demand management controls and detailed information on energy consumption and generation

NSW Minister for Industry, Niall Blair, congratulated the finalists noting eight of the ten finalists hail from NSW.  

"Congratulations and best of luck to these 10 ground-breaking Aussie companies which demonstrate the breadth and excellence of our start-up community.

"Eight of the 10 companies are based right here in NSW, including a great regional company Ontoto from Moss Vale which is a leader in water monitoring technology.

"Our dominance at PitchFest shows that NSW remains the nation's leader in start-up activity with over 40 percent of start-up founders in Australia coming from this great state.

"The NSW Government's support for CeBIT Australia and for our start-up industry will continue to grow our state's global reputation as a technology industry leader," said Mr Blair.

Harvey Stockbridge, Managing Director of Hannover Fairs - organiser of CeBIT Australia, commented on the importance of creating opportunities for entrepreneurs, allowing them to showcase their innovations and ensure the competitiveness of our industries, services and skills on an international stage.

“CeBIT PitchFest has a proud history of unearthing and supporting Australia’s leading technology start-up companies including ingogo, Mathspace and NetHealth. In 2017 the competition is stronger than ever before, reflecting the strength of Australia’s entrepreneurial community.

“It is inspiring to think how the innovations developed right here in Australia, have the potential to transform how the next generation of Australian’s live,” said Mr Stockbridge.

Previous winners of CeBIT PitchFest have gone onto become multi-million dollar, multi-national companies. Previous winners include ingogo, which can now be seen installed in thousands of taxis across Australia, Mathspace which has grown phenomenally in just a few short years to be available in over 20 countries and NetHealth which has grown over 150 percent since winning PitchFest in 2016.

www.cebit.com.au/startup/

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ASBFEO calls for Budget policies to drive investment and transparency in small business dealings with big business and banks

The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) has proposed key policies for the 2017-18 Federal Budget to kick-start small businesses growth, create more jobs and promote more transparent and fairer relationships with banks and big businesses.

ASBFEO Kate Carnell said the Australian Government should consider a range of policies to boost small business, which accounts for 33 per cent of Australia’s GDP and employs about 50 per cent per cent of the workforce.

“We want the Australian Government to consider these measures as part of its Budget on 9 May because a healthy small business sector is a prerequisite for a growing economy with high employment opportunities. In every sense, small business counts,” she said.

The ASBFEO is calling for a range of measures in the Budget, including:

•               Extend the instant asset write-off scheme and consider lifting the threshold above $20,000

The ASBFEO says that the $20,000 instant asset write-off should be extended past June 30 this year when it is scheduled to end. Also, consideration should be given to lifting the threshold because for capital-intensive businesses it is too low. For example, if you’re a farmer and you want to buy an asset like a tractor, you’re not going to get one for anywhere near the $20,000 threshold.

The instant asset write-off program allows small businesses to immediately deduct assets costing less than $20,000 instead of claiming deductions over a number of years. It is on a per asset basis allowing several assets costing less than $20,000 to be deducted.

•               Mandatory code of banking practice

The Ombudsman has also called for legislation to implement a mandatory code of banking practice with compliance a condition for a banking licence. The code would be overseen and enforced by the Australian Securities and Investment Commission (ASIC).

This is to restore confidence among small businesses, improve banks’ small business lending practices and provide a safeguard against misconduct. This would include establishing an ASIC Small Business Commissioner with powers to monitor compliance with the code, investigate and take action against breaches of the code.

The ASBFEO also calls for banks to be prohibited from applying non-monetary default terms on small business loans of up to $5 million that are financially compliant. It also urges the Government to implement the recommendations of the ASBFEO’s recent Small Business Loans Inquiry.

•               National Payments Transparency Register

The Ombudsman also calls for the establishment of a National Payment Transparency Register to monitor independently payment times and practices. This follows the ASBFEO’s recent Inquiry into Payment Times and Practices, which found widespread evidence of small businesses being squeezed by multinationals’ late and extended payment practices.

The Register would require the top 100 ASX companies and multinationals to report on their payment times and terms to small business and encourage other businesses to register. This would increase transparency around business behaviour and expose bad practice. 

•               The Australian Government introduce 15-day business payment time

The Australian Government can set an example with faster payment times to suppliers by adopting a 15 business day payment time requiring its head contractors to adopt the payment times through its supply chain.

The Australian Government would procure from businesses that have supply chain payment times and practices equal to or better than its practices.

The United Kingdom and United States governments have implemented fast payment requirements with demonstrated economic benefit by freeing-up cash flow and stimulating jobs, investment and growth.

www.asbfeo.gov.au

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QRC backs new base load power in the North

THE Queensland Resources Council (QRC) welcomes the state government’s proposal to increase base load power in North Queensland with the potential expansion of Burdekin Falls Dam.

QRC Chief Executive Ian Macfarlane said all options need to be on the table to secure the state’s future energy mix.
 
“The establishment of a small hydroelectric power station at the state’s largest dam will add much needed supply into the east coast electricity market,” Mr Macfarlane said.

Mr Macfarlane also urged the Queensland Government to consider the development of the Tully Millstream Hydro project to provide even more base load power in North Queensland.
 
“Once again Queensland is setting an example for southern states on how to run a balanced energy policy by considering all options - coal, gas, renewables – to deliver affordable, reliable energy,” Mr Macfarlane said.

“But if we are to be agnostic in terms of the sources of energy the government should also support the addition of a modern high efficiency, low emission (HELE) power plant in Townsville, using some of the highest quality, low emission coal in the world right here in Queensland.
 
“If this region is to generate jobs and develop to its full potential it must have its own stable power generation including both hydroelectricity and coal-fired power supply,” Mr Macfarlane said.
 
The state government's Burdekin plan is to generate up to 150 gigawatt hours, lift the dam’s capacity and is seeking federal funding for the project through the Northern Australia Infrastructure Facility (NAIF).

“The federal government has plenty of business cases for new Queensland infrastructure with Burdekin Falls Dam and the proposal for new gas pipelines from the Bowen and Galilee Basins,” Mr Macfarlane said.

www.qrc.org.au

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CBA’s response to ASBFEO Report is much better than ABA’s feeble effort

THE Australian Small Business and Family Enterprise Ombudsman (ASBFEO) is disappointed with the Australian Bankers Association’s (ABA) response to the inquiry into small business loans.

ASBFEO Kate Carnell said the ABA’s decision not to accept the ASBFEO's definition of a small business loan as any loan under $5million is disappointing.

The ABA released its response to the ASBFEO Inquiry into Small Business Loans on Friday.

Ms Carnell said: “The ABA's very restrictive definition would mean that any business with more than 20 employees would not be deemed a small business under the banking code of practice.

“Equally restrictive and unworkable is their approach to their $3million loan limit. The ABA is saying that any business that has aggregate loans above $3million, including loans with ALL financial institutions and including ALL associated entities, will not be treated as a small business.

“This would mean that all loans taken out by directors of the business and their partners would be aggregated to determine if a loan taken out by the small business would be able to access the removal of non-financial default clauses and the other recommendations of the ASBFEO Report.”

Ms Carnell said this would exclude a very large number of small businesses and make a nonsense of the ABA’s claim that its response will cover 95 percent of business customers.

“I will be asking the ABA how they came up with this figure,” she said.

“The ABA talks about ‘covenant light’ loan contracts with small businesses - ASBFEO recommended that ALL non-financial default clauses should go except for situations where the small business breaks the law or goes into liquidation.”

Ms Carnell said the Commonwealth Bank’s undertaking last week was a better response than the ABA’s feeble effort.

“We think the ABA should go and talk with the Commonwealth Bank to consider its approach and go back to the drawing board.”

Ms Carnell noted the range of undertakings given by the ABA, including working with ASIC to implement a new Code of Banking Practice in line with the Khoury Report.

“We welcome the ABA’s undertaking that it will work on a new Code of Banking Practice this year with the aim of publishing it by the end of this year. We will closely monitor its progress,” she said.

www.asbfeo.gov.au

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Do you know an inspirational Melburnian?

NOMINATIONS are now open for the City of Melbourne’s prestigious Melbourne Awards, which recognise community groups and corporations who have made a positive and valuable contribution to the world’s most liveable city.

Lord Mayor Robert Doyle said the awards, now in their 15th year, highlight the achievements and service of many dedicated and inspirational Melburnians.

“The Melbourne Awards are our city’s highest accolade,” the Lord Mayor said.

“They celebrate the inspirational achievements of those who devote their time, energy and passion to make Melbourne the great city that it is; the world’s most liveable city.

“If you know a worthy recipient, please nominate them today: I know we have no shortage of contenders.”

The Lord Mayor will bestow the title of Melburnian of the Year on one outstanding individual.

“You only have to look at the calibre of the past winners to appreciate the magnitude of this award. Neale Daniher AM is the current Melburnian of the Year: his courage and drive galvanised an entire community to join him in the fight against Motor Neurone Disease.

“Other recent winners include Bryan Lipmann AM, the founder of Wintringham Specialist Aged Care, Major Brendan Nottle of the Salvation Army and music pioneer Michael Gudinksi AM.”

In addition to the Melburnian of the Year, the awards will recognise four community organisations and four corporations for their outstanding contribution to the community, environmental sustainability, multiculturalism and strengthening Melbourne’s profile.

An independent judging panel of industry leaders and Melbourne personalities will decide this year’s Melbourne Award recipients. Winners will be announced at a gala ceremony at Melbourne Town Hall on Saturday 18 November.

Nominations for the 2017 Melbourne are open until Monday 5 June.

For information or to nominate, please visit www.melbourne.vic.gov.au/melbourneawards or call 9658 9658.

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ARA pushes for immediate implementation of low-value GST

THE Australian Retailers Association (ARA) opposes any delay in implementing GST to low-value imports and strongly supports the Government in closing the Low Value Threshold (LVT) loophole for the purchase of offshore tangible goods under $1000.

Executive Director of the ARA, Russell Zimmerman said any delay to low-value GST legislation will result in a number of job losses throughout the industry.

“The retail industry is already operating in a tough environment and any delay to this much-needed legislation will significantly affect employers and employees working in this sector,” Mr Zimmerman said.

“Levelling this unfair playing field for retailers is an area that both the industry and unions strongly agree on, and collectively support.”

The ARA firmly believes that the proposed GST collecting system is the best model at this point and should not be postponed.

“This legislation should be implemented as soon as possible, as we already know that overseas retailers have the capability of charging similar taxes online in Australia,” Mr Zimmerman said.

“These big global players already collect GST for digital products, therefore we want to see these retailers register and collect GST as of July 1 this year."

The ARA called on the Senate Crossbench to pass this GST at the Senate Economics Legislation hearings last Friday 21 April, and pushed for overseas retailers to immediately start collecting this tax from low-value imports.

“It is unreasonable for global retailers like eBay, who currently don’t pay any tax in Australia, not to register and collect the GST,” Mr Zimmerman said.

The ARA have been working with the Federal and State Governments to reduce the low-value threshold and provide a level playing field for Australian retailers.

“This legislation for low-value imports was first introduced in 2011 by then Assistant Treasurer, Bill Shorten, and has been supported by both parties,” Mr Zimmerman said.

“Therefore, there should not be any issue in adhering to the agreed implementation date of 1 July 2017.”

About the Australian Retailers Association:

Founded in 1903, the Australian Retailers Association (ARA) is the retail industry’s peak representative body representing Australia’s $310 billion sector, which employs more than 1.2 million people. The ARA works to ensure retail success by informing, protecting, advocating, educating and saving money for its 7,500 independent and national retail members throughout Australia. For more information, visit www.retail.org.au or call 1300 368 041.

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Nominations open for innovation awards

MINISTER for Defence Industry, Christopher Pyne MP, has welcomed awards to recognise and reward Australian companies and individuals at the forefront of naval and commercial maritime innovation.

Nominations are open for the Maritime Australia Industry Innovation Awards, which will be awarded at the 2017 Pacific International Maritime Exposition in October.

“There are so many small-to-medium enterprises that have developed world-leading products that have not only met Australia’s defence needs but achieved success internationally,” Minister Pyne said.

“These awards are about celebrating, recognising and rewarding the skills and expertise that exists within Australia.

“I strongly encourage companies and individuals to put their nominations forward.”

Innovation is at the forefront of the Government’s principal defence industry and innovation initiatives, a key driver to generate new defence capability.

The Next Generation Technologies Fund will invest around $730 million over the decade in technologies that have the potential to deliver game-changing capabilities for the ‘future force after next’.

The Defence Innovation Hub is investing around $640 million over the decade into maturing and developing technologies that have moved from the early science stages into the engineering and development stages.

“Innovation in defence capability is fundamentally important to maintaining a warfighting advantage and capability edge,” Mr Pyne said.

"The front door for doing business with Defence, the Centre for Defence Industry Capability, is available to provide practical advice and assistance needed to working with Defence."

The awards have been developed by the national not-for-profit foundation Industry Defence and Security Australia Limited.

o enquire about the awards and for more information, visit http://www.pacific2017.com.au/innovation-awards/index.asp or contact Gregor Ferguson at This email address is being protected from spambots. You need JavaScript enabled to view it. or 0414 803 717.

For more information about the Centre for Defence Industry Capability visit business.gov.au/cdic

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Premium coal country open for bids

IN ANOTHER positive sign for the coal sector, the Queensland Government today released 270sqkm of land in the Bowen Basin for exploration, according to the Queensland Resources Council (QRC).

QRC Chief Executive Ian Macfarlane said the announcement was a compelling case for investment into the sector with some of the best quality coal in the world already being exported from the area.

“This is a significant land release with four blocks in the coal-rich Bowen Basin opened up for bids from explorers and it’s the first land release in four years.” Mr Macfarlane said.

“I congratulate the government on this proactive step to encourage more exploration which will not only benefit the coal sector but is good news for local communities and local businesses.

“It has been 15 months since the government appointed its first Resources Investment Commissioner focused on identifying and driving economic opportunities for the sector and local and overseas investors will be interested in these blocks.”

The land will be released nearby existing mines in Middlemount, Cook and Blackwater which are serviced by the Goonyella and Blackwater rail networks.

Queensland’s Exploration Council Chairman Geoff Dickie said certainty is starting to return to exploration.

“It comes at a time when there is increasing confidence in the exploration sector, and opens up some particularly prospective areas,” said Mr Dickie.

www.qrc.org.au

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Climate Change Review discussion paper released

THE Federal Government has released a discussion paper for public consultation as part of the 2017 review of climate change policies.

The discussion paper follows the Government’s commitment to review its climate change policies when it set Australia’s target to reduce emissions by 26 to 28 per cent below 2005 levels by 2030.

The discussion paper can be accessed via: www.environment.gov.au/climate-change/review-climate-change-policies

The Government invites submissions on the discussion paper by 5 May 2017.

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Celia Murray explains IP licensing opportunities to AIEA

LICENSING opportunities for progressive Australian businesses is the topic at the next Australasian Interim Executives Association meeting in Brisbane.

Intellectual property (IP) and licensing specialist and Trademarks Attorney Celia Murray will present on 'Fast Innovation Growth Strategies for the Interim or New CEO' on Tuesday, May 2, at 10am at the new AIM Brisbane Member Lounge at Level 16, 40 Creek Street Brisbane.

At the ‘coffee and cake’ session, Ms Murray will explain what IP licensing is all about on a global scale and why Australian CEOs are slow to adopt this global strategy.

“The event is free to members and their guests and just $20 for non-members,” AIEA CEO Mal Walker said. “If you haven't met Celia before, this is an excellent opportunity to do so.”
“We are delighted that the Australian Institute of Management (AIM) is our principal sponsor and will be hosting our networking events on the first Tuesday of each month.”

Register now.

www.aiea.org.au

 

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Government giveth, government taketh away - IPA

SMALL businesses around Australia need to make the most of the $20,000 instant asset write-off while it’s still there, according to the Institute of Public Accountants (IPA).

“The IPA had long advocated for the write-off initiative but unless the time limit is extended in the upcoming Federal Budget, the door will close on 30 June 2017 and the limit will revert back to $1,000,” said IPA chief executive officer, Andrew Conway.

“The increase in the accelerated depreciation write off threshold to $20,000 has been a great assistance to small business cash flow.

“This initiative is bringing forward the tax deduction that would have been deductible over a number of years.

“Entities with turnover up to $10 million can now also avail themselves of this initiative if the amended Enterprise Tax Plan is passed by Parliament when it next sits.

“If this initiative reverts back to $1,000, there will be negative impact on the broader economy as the incentive for small businesses to reinvest in their future will be taken away; restricting potential growth, employment and prosperity.

“We are urging the Government to keep this forward thinking initiative alive come Budget night,” said Mr Conway.

publicaccountants.org.au

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