$63 billion online spend: Australian basket sizes shrink but purchase frequency up
The average value of an online shopping basket fell in 2023, but spending is still clustered around the magic $100 'free shipping' mark, according to e-commerce data from Australia Post.
Australia’s inflation rate is now at its lowest in two years
Australia’s annual inflation rate fell to 4.1% in the December quarter of 2023, down from 7.8% in the December quarter of 2022.
Advertised salaries are outpacing inflation as government considers cost of living relief
Advertised salaries for prospective employees have grown above inflation, despite a sluggish end to the year and cost of living pressures.
Construction businesses a grim standout in insolvency data, as experts seek silver linings
The number of business insolvencies boomed in late 2023 and is poised to accelerate in 2024, official data shows, but industry leaders professionals say the growing use of the small business restructuring scheme is a silver lining.
Ready for 2024? Small business experts predict this year’s storylines
Constrained consumer spending, interest rate anxiety, and sheer exhaustion are likely to weigh on small businesses in 2024, advocates say, as entrepreneurs seek opportunity in what could be another challenging year.
NSW insurance quote website sparks complaint to small business commissioner
An insurance policy comparison tool operated by the NSW government has reportedly underestimated the cost of coverage by 15%, the NSW Small Business Commissioner says, as soaring premiums catch businesses off guard.
Collins: “Fairness” front and centre in Labor’s 2024 small business strategy
A fairer competitive landscape will help small businesses cope with persistent inflation and economic volatility, Small Business Minister Julie Collins says, outlining the federal government's approach to small business support in 2024.
All-you-can-eat Japanese restaurant Okami puts 16 venues into voluntary administration
Sixteen restaurants managed by all-you-can-eat Japanese restaurant business Okami have entered voluntary administration, as its founder contends with delayed COVID-era costs and rising inflation.
Seafood prices won’t rise these holidays, but 2024 promises a different kettle of fish
Australians can expect competitive seafood prices this festive season, but regulatory changes and a shifting export market might stir the waters in 2024.
Barbers “in shock” after RBA governor says haircuts contributing to inflation
Fresh commentary from Reserve Bank of Australia governor Michelle Bullock has one barbershop founder "in shock", after she suggested lower spending at hairdressers and salons could help the fight against inflation.
RBA lifts cash rate to 4.35%, in “make or break” call for SMEs
Interest rates look set to climb higher, after the Reserve Bank of Australia today decided to raise the official cash rate by 25 basis points to 4.35%.
What small businesses are doing to bust cost of living pressures
Fresh data showing inflation growth over the September quarter comes as no surprise to small businesses across Australia, which are torn between raising prices and laying off staff, or offering special deals to customers also struggling to keep up with the cost of living.
