Category: Business

The federal government has abandoned its ambitious plan to modernise the business registry system, which was expected to cost $2.3 billion and take four years to complete. The project, which aimed to consolidate 35 different registries into one platform and improve the user experience for businesses, was plagued by technical challenges, governance issues, and stakeholder resistance. A vision for a simpler and faster business registry The project was initiated in…

NZ Entrepreneur is a free digital magazine that provides insights and inspiration for entrepreneurs and business owners in New Zealand. The magazine covers various topics such as startup stories, ecosystem news, business advice, innovation trends, and social impact. NZ Entrepreneur aims to showcase the diverse and vibrant entrepreneurial scene in Aotearoa and to support the growth and success of local ventures. Founder Focus: A Series of Interviews with Entrepreneurs One…

August is Black Business Month, a time to recognize and support the achievements of black entrepreneurs and business owners around the world. Black Business Month was founded in 2004 by John William Templeton and Frederick E. Jordan, two engineering entrepreneurs who wanted to highlight the contributions of black businesses to the global economy and society. The Impact of Black Businesses on the World According to the Global Entrepreneurship Monitor, there…

Milton Park-based software company posts positive results for the first half of 2023 K3 Business Technology Group, a provider of business-critical software solutions, has announced its interim financial results for the six months ended 31 May 2023. The company reported an increase in revenue and profit, as well as a healthy balance sheet and cash flow. The company posted revenues of £20.3 million, an increase of around 4 per cent…

Family businesses are the backbone of many economies, accounting for around 98 per cent of all businesses in Australia and 67 per cent of them being family-owned. However, running a family business is not always easy, especially when it comes to planning for succession. Many family businesses face conflicts and disputes over who will take over the business, how to manage the transition, and how to deal with the emotional…

What is Islamic banking and why is it different? Islamic banking is a form of financial system that operates under the principles of Shariah, the Islamic legal system that forbids transactions involving usury, or charging of interest as it is considered an unjust exchange. Islamic banking also does not finance sectors harmful to society such as alcohol, tobacco and gambling. Another key difference is that Islamic banking does not allow…

Agusto&Co warns of rising operating expenses for banks The Nigerian banking industry is facing a volatile operating environment as the country recovers from the impact of the COVID-19 pandemic. According to a report by Agusto&Co, a pan-African rating agency, the banks are expected to see their operating expenses or cost of operations stretched by soaring inflation and other economic factors. The report, titled “The Nigerian Banking Industry – A Resilient…

France’s banks balance sheet decreased by 2.2% in June 2023 According to the latest data from Banque de France, the balance sheet of France’s banks decreased by 2.2% in June 2023, reaching 11.75 trillion euros. This is the lowest level since December 2022, when the balance sheet stood at 11.72 trillion euros. The balance sheet of France’s banks reflects the total assets and liabilities of the banking sector, including loans,…

Small businesses are the backbone of the U.S. economy, accounting for 99.9% of all firms and employing almost half of the private sector workforce. However, many small businesses struggle to survive and grow in a competitive and dynamic market. According to the Bureau of Labor Statistics, 20% of new businesses fail within their first year, and only 35% make it to their 10th anniversary. What sets apart the successful small…

Raimondo meets Shanghai officials to discuss trade issues US Commerce Secretary Gina Raimondo met with Shanghai Communist Party chief Chen Jining on Wednesday, as part of her bridge-building trip to China. Raimondo said she wanted to work with China to ensure a more “predictable” environment for American businesses in Shanghai, the economic hub of China. “The US-China economic relationship is among the most consequential in the world,” she told Chen.…