One of Australia’s top commercial credit reporting bureaus warns that the country’s food and beverage sector is set to see more businesses fail in the new financial year as households tighten their budgets and operating expenses stay high amid mounting cost of living pressures. CreditorWatch’s latest business risk index points to grim business conditions, with…
Food and Beverage Sector Faces Highest Risks of Insolvency: Warns CreditWatch
June 23, 2023
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Talents Shortage Remains the Top Challenge For Australian Businesses: KPMG Survey
Recruiting, retaining, and upskilling staff remains the top challenge concerning Australian business leaders in 2023, according to the latest annual report by KPMG Australia, which surveyed 473 senior executives. The fifth edition of Keeping us up at Night, released in the first week of the new year, shows that 77 percent of business leaders nominated…
Australian CEOs Expecting Fresh Disruptions in 2022 but Cautiously Optimistic: Survey
January 21, 2022
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The Australian Industry Group (Ai Group), the peak group representing national employers, has revealed that business leaders are cautiously hopeful for 2022 despite the seriousness of the anticipated disruptions. The report for Australian CEOs expectations was based on a survey conducted across Australia in October 2021, which received 346 responses from CEOs of businesses that…
4 Out of 10 Australian Businesses Feel the Pressure From Labour Shortages
Nearly four in ten Australian businesses feel that labour shortages are causing a “very significant” impact on their enterprises, according to new research by National Australia Bank (NAB). The research, which captured the views of 1,600 businesses of all sizes across a broad range of industries from Nov. 16 to Dec. 13, 2021, noted that,…
Govt Committee Urges Clearer Pathway to Retain Skilled Migrants and Top International Students
An Australian parliamentary committee has recommended easing the permanent residency pathway for skilled temporary workers and the “best and brightest” international students to help address the country’s skill shortages accentuated by the pandemic. In its final report tabled to the federal parliament on August 9, the Joint Standing Committee on Migration has laid out a…
WA Unable to Poach Workers From Other States as Skills Shortage Grips Australia
The nationwide skill shortage in Australia has made Western Australia’s (WA) potential of “poaching” east coast skilled workers more difficult. A survey conducted by the Chamber of Commerce and Industry WA (CCIWA) revealed a bidding war has started in the country to secure Australian workers. Over half of businesses across almost every sector reported having…
Industry Groups Praise New COVID Plan but Disappointed in Arrivals Cap
July 2, 2021
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Industry groups are welcoming the Australian government’s new four-step COVID plan that is based around vaccination numbers but call the reduction on international arrival caps “one step backwards.” Australian Industry Group (Ai Group) welcomed the new plan but recommended that the “post-vaccination phase” be reached when all those who can and want to receive shots are…
Businesses Lament Being Unable to Find Staff As Skill Shortage in Australia Kicks In
Over one-quarter of Australian businesses are struggling to find suitable staff to fill job voids, the Australian Bureau of Statistics (ABS) revealed in its June Insights into business conditions and sentiments. ABS Head of Industry Statistics John Shepherd said 74 percent of businesses cited lack of applicants as a reason why they struggled to find…
Despite Worker Shortages, Businesses Aren’t Offering Wage Increases
Companies faced with skilled labour shortages are not giving wage increases but are instead offering one-off bonuses or more flexible work arrangements, the Reserve Bank of Australia (RBA) said. In the June policy meeting minutes, the RBA said some companies were also choosing to “ration output” rather than pay higher wages to attract new workers….
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