Small Biz Buzz: Forbes 30 Under 30 Asia; ACCC SME snapshot

Here's what's making headlines in the small business world this week.

Riad Chikhani (left) ranked 6th on Forbes' 30 Under 30 Asia list. Source: Supplied

Forbes 30 Under 30 Asia

The recently released Forbes 30 under 30 Asia list recognises some of the most ambitious and influential innovators across the region.

11 Australian startups made it on the list, including Rory San Miguel of the Sydney-based drone startup Propeller Aero, which is being described as the next Atlassian.

Also making the list is Riad Chikhani, the founder of Gamurs - an eSports content company which provides news and updates for gamers.

ACCC report released

Nearly 5,000 small businesses reported various issues to the ACCC last year, with a majority of these claims coming from businesses with 0-4 staff members.

In its small business snapshot, the ACCC listed the most common complaints as alleged misleading conduct, consumer guarantees issues and wrongly accepting payments.

Scams cost small businesses almost $3 million.

The ACCC secured $177,000 in misconduct penalties, including the first court-ordered fines for breaches of the Franchising Code.

However, the number of reports has dropped by nearly 3% compared to 2016.

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