Australian economy stories - Page 7

Open Banking in Australia could boost the economy by AUD $10 billion annually as consumer data sharing and digital services usage rapidly grow.

PayPal Australia has loaned over AUD $1.5 billion to 13,000+ SMBs via its flexible Working Capital programme, offering swift funding without collateral.

South Australia's tech workforce is set to nearly double by 2035, boosting the economy by AUD $5 billion and creating 49,000 new skilled jobs.

Australian small businesses lose over 22 hours weekly managing complex payment systems, risking cash flow, customer loss, and security concerns, says new report.

AI-driven software innovation could add AUD $6 billion annually to Australia's economy, boosting productivity and revenue amid governance and skills challenges.

Victoria's tech sector adds $36 billion and employs over 300,400, with workforce expected to exceed 700,000 by 2035 amid strong upskilling efforts.

Australia Post and Shopify have teamed up to simplify shipping, benefiting thousands of businesses amid Australia's booming AUD $19.2bn online market.

Australian SMEs show steady performance in Q2 2025, with agriculture leading growth despite challenges like US tariffs and reduced workforce.

Dynamoney appoints Brett Thomas as CEO to lead growth, capitalising on surge in SME lending and targeting expansion of flexible finance solutions across Australia.

Most Australian SMEs adopt AI tools without strategies, risking missed growth opportunities despite urgent investments and competitive pressures.

Australia's productivity lags despite longer work hours; adopting agentic AI could boost the economy by over AUD $116 billion in the next decade.

Nearly half of Australian Baby Boomer SME owners plan to retire soon, yet only 24% have prepared succession plans to secure their businesses' futures.

The RBA's rate cut brings cautious optimism as Australians boost spending on essentials like groceries and pharmacy amid economic uncertainty.

Australian tech sector backs swift digital skills reforms to bridge a AUD $25 billion gap and boost economic growth by 2035, says ACS.

Future Skills Organisation and Microsoft launch a 12-month pilot to upskill 30,000 educators and boost AI skills in Australia's vocational education sector.

The Australian Society of Authors opposes a Productivity Commission proposal for AI text mining exceptions, citing risks to creators' copyright and earnings.

Employee share schemes are expanding beyond tech, helping Australian SMEs attract and retain staff while fostering widespread wealth creation through equity.

Widespread outages have cost Australians AUD $5.3 billion yearly, with 68% losing trust in telecommunications amid rising service disruptions.

PERSOLKELLY rebrands as PERSOL across 13 markets, uniting its Australian operations to meet rising workforce demands amid rapid tech and green energy shifts.

Australian spending on low Earth orbit satellite services is set to reach AUD $664 million by 2026, driven by rising consumer and business demand nationwide.