Microsoft ScaleUp program opening in Sydney
Microsoft has announced plans to launch the Microsoft ScaleUp program in Sydney, which will be part of the new Sydney Startup Hub.
The program is already active in London, Seattle, Beijing, and Berlin and helps fast-track stages of the start-up business journey.
Microsoft praised the quality and potential of Australian tech startups and entrepreneurs.
NSW Premier Gladys Berejiklian welcomed the move and said, “Last July the NSW Government committed $35 million to create a world-leading startup and innovation hub and today we can see what has been created.”
“The decision by Microsoft to move in is a huge vote of confidence in our city, our economy and the people that make up our startup community.”
The program began five years ago, and since then 730 companies have graduated and raised almost US$3 billion in venture capital.
Royal Commission into banking calling for small businesses
Small Businesses who feel they've suffered from questionable conduct by banks are invited to have their say at the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
The $75 million inquiry in Melbourne is looking into misconduct affecting consumers and small business operators.
Australian Small Business and Family Enterprise Ombudsman Kate Carnell says while banks have made changes to small business loan contracts, more needs to be done.
“Our inquiry last year into small business loans found contract arrangements with banks put the borrower at a distinct disadvantage.”
“We examined a number of cases where the loan contract gave banks a disproportionate level of power, to protect themselves from financial risk and to increase profit.”
The Commission is probing past dispute cases, where small businesses were forced to close or where people lost their jobs.
ATO Tax and Super Workshops
The Australian Tax Office is running workshops designed to help small businesses manage tax and super responsibilities, using new tools and resources.
The workshops are held at locations across Australia, and there are also online webinars suitable to watch at home or at the office.
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