Australia is set to record its biggest quarterly fall in GDP in history this week. The federal government will extend its JobKeeper wage subsidy program by six months. About 1.75 million workers, including about 1 million Victorians, are expected to rely on it till March.

Small to medium sized enterprises (SMEs) that invest in corporate social responsibility can expect financial rewards as well as enhanced reputations, according to a new study of small businesses in Malaysia.

Corporate social responsibility (CSR) is often considered irrelevant to small companies, as their social and environmental impact is thought to be negligible.

Most of us use products made in China every day and are aware of its growing economic power as a factory to the world. But China intends to become a developed nation by mid-century and integral to this ambition is its intense focus on innovation.

In a very few decades, Chinese companies had evolved from imitators to imaginative and effective innovators.

E-commerce giant Amazon has struck a deal to acquire Whole Foods Market, an American supermarket chain with more than 400 stores. The move has put even more pressure on Australian retailers as Amazon sets up shop in Australia.

But the real threat to Australian retail lies in Amazon’s business model. It is a low-margin retailer that owns several other highly profitable and fast-growing businesses, such as cloud services. These other businesses can and do cross-subsidise its retail operations.

The average social consumer in Australia clicks on 21 Facebook ads per month — almost double the worldwide average. This shows just how effective Facebook ads can be at driving clicks for brands. But before you can win those clicks, you need to first set up your Facebook Ads Manager account. We’ll show you how to do it.

The way traditional economics measures the environment, or in many instances doesn’t, is a long standing problem. For decades, our primary measure of economic activity, gross domestic product (GDP) has measured “progress” without accounting for the cost borne by the environment, nor the substantial benefits we receive from it.

In politics and economics we regularly use the word “capital” to mean assets like buildings or cash. This should extend to the environment too. Nature is an asset.

Passwords have been used for thousands of years as a means of identifying ourselves to others and in more recent times, to computers. It’s a simple concept – a shared piece of information, kept secret between individuals and used to “prove” identity.

Passwords in an IT context emerged in the 1960s with mainframe computers – large centrally operated computers with remote “terminals” for user access. They’re now used for everything from the PIN we enter at an ATM, to logging in to our computers and various websites.

The Turnbull government’s signature economic policy at last year’s election was a 5% cut in the company tax rate, over a ten-year period, at a cost to revenue estimated to be in excess of A$48 billion. As the government itself has conceded, this now stands very little prospect of being passed by the Senate.

Replacing human decision-making with algorithms seems to make sense. People tend to rely on unreliable cognitive shortcuts, get fatigued or distracted, and can be swayed by subjective opinion and inter-personal alliances.

On the other hand, algorithms are bearers of encoded logic which consistently execute pre-determined decision criteria. Therefore they are immune to emotional influences; they can rise above social relationships to objectively analyse data and optimise decisions.

Australia has been in a current account deficit – paying more money out to the rest of the world than it took in – for 44 straight years, since September 1975.

Until today. The update from the Bureau of Statistics released on Tuesday shows that in the three months to June Australia actually took in more from the rest of the world than it paid out: A$5.9 billion more, after what for most Australians (most are under the age of 40) was a lifetime of paying out more.

All is not as it seems with the Turnbull government’s proposed changes to higher education funding.

Federal Education Minister Simon Birmingham has argued that higher tuition fees, lower direct grants to universities and a reduced HECS repayment threshold for graduates will deliver a “fairer deal for taxpayers”.

But unusual budget accounting rules mean the promised positive impact of these changes on the federal budget’s bottom line is far from clear.

Starting a business is a dream come true for entrepreneurs seeking freedom, exciting challenges, and financial independence. But the reality can be tougher than expected. Obstacles may arise that can make or break success.

However, business ownership offers significant benefits—control over your destiny, pursuing passions, and shaping a meaningful life. Despite the advantages, challenges like managing admin tasks, ensuring compliance, and achieving work-life balance can be overwhelming.

Our team is here to support your journey, providing expertise to overcome hurdles and thrive in a competitive market. Partner with us and conquer the challenges of entrepreneurship, realizing your vision for a successful business.

We live in a society in which people are trying to do more each day. Both work and life are worthy competitors for time. Yet the complex demands of modern society have redefined the notion of work-life balance.

Work-life balance has different meanings for different people and is often linked to individual preferences. We interviewed franchised and independent business owners in Australia to understand their work and life priorities.

Although not always aware of it, most people in small business reconcile competing work and life demands on an ad hoc basis. This is because a variety of reasons motivate small-business ownership.

As a business owner, you embrace the joys and challenges of entrepreneurship. Yet, managing everything can be overwhelming. Juggling finances, operations, marketing, and customer service while maintaining quality can be demanding. Limited resources and time-consuming tasks like bookkeeping and HR further complicate matters.

Outsourcing back-end operations is a game-changer. It offers efficiency, cost savings, and access to skilled professionals. Partner with Officeku, a reliable service provider, and focus on your core functions. Our specialized team delivers customized solutions, enhancing efficiency, quality, and driving business growth. Let us handle the complexities, so you can excel in what you do best.