Tuesday, August 16, 2022

Rising wage inflation and interest rates top the list of concerns for SMBs

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Rising wage inflation is the top concern for SMBs with over 70% of small-and-medium-sized-enterprises worried about increased wage costs impacting their business this year. According to the latest SME Growth Index by Australia’s non-bank business lender, ScotPac, 75% of larger SMEs (revenue between $5 – $20 million) are worried about rising wage costs, with 68% of smaller SMEs (revenue between $1m and $5 million) citing an increase to employee expenses as their number one concern for reaching revenue targets this year.

One in three untrained employees likely to click on a phishing link

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KnowBe4, the security awareness training and simulated phishing company, has released the 2022 Phishing by Industry Benchmarking Report to measure a firm’s Phish-proneTM Percentage (PPP), which indicates how many of their employees are likely to fall for phishing.

Aussie streaming apps giving giants such as Netflix a run for their money

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New data from market intelligence company, Sensor Tower, reveals how Aussie streaming services are trumping much larger, global players when it comes to popularity and profitability of their streaming services. This follows an increasing number of local media companies launching direct-to-consumer video services to compete against global giants such as Netflix.

Half of ANZ SMEs can’t secure funds due to slow lending and red tape

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Half of small and medium-sized enterprises in Australia and New Zealand have been unable to secure sufficient funding on at least one or more occasions over the last five years, according to a new report from cloud banking platform Mambu. Alarmingly, more than two thirds of SMEs globally have been unable to secure adequate business financing in that same period. The ‘Small business, big growth’ report surveyed over 1,000 SME owners globally, including SMEs in ANZ, who set up their company and applied for a business loan in the last five years.

OpenText’s 2022 Threat Report reveals largest cyber threats in 2021

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OpenText™ announces the 2022 BrightCloud® Threat Report which outlines key data points affecting small and large businesses, and individuals in the new hybrid world. This year’s report provides analysis, insights, trends, and predictions as firms move toward strengthening their resiliency in the face of ever-increasing cyberattacks and cyber warfare. Hybrid work environments, along with rapidly shifting world affairs, continues to alter how we interact and presents new security challenges that opens lucrative avenues for bad actors.

Real-time payments evolution afoot as APAC seeks new growth frontiers

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APAC is gearing up for the next phase of its real-time payments journey as major players seek new growth opportunities, according to the third edition of Prime Time for Real Time 2022, published by ACI Worldwide, in partnership with GlobalData, a data and analytics company, and the Centre for Economics and Business Research (Cebr). The report – tracking real-time payments volumes and growth across 53 countries – includes an economic impact study, providing a broad view of the economic benefits of real-time payments for consumers, businesses and the broader economy across 30 countries.

Almost two thirds of Aussies face challenges paying surprise $2,000 bill

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Most Australian households would struggle to pay over $2,000 for unexpected but necessary services like urgent home and vehicle repairs or dental work, according to a new Australian Household Threshold report. The report – based on a survey of over 1,000 Aussies by Antenna Strategic Insights for payments and funding solutions firm QuickFee – found that an unexpected bill above $1,500 would stretch the budget for 45% of Australian households.

Fintech Unicorns grew by 330% in numbers in the last 18 months

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The number of startups, qualifying as Unicorns (valued at over $1 billion USD) has grown significantly in the last year and a half. The exact percentage of Unicorn growth in numbers since 01/01/2021 comes to 162% with 707 new unicorns emerging in that period. Up until the end of 2020, the total headcount of the mythical herd was just 436.

African businesses ditch cash-based B2B payments, says Duplo research

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A report that includes the surveyed opinions of over 1,000 business owners from Kenya, Nigeria, South Africa and Egypt has revealed ease of use, reliability and speed as the preferred features for African businesses when it comes to B2B payment methods. 

Aussie singles spend $43 billion per year on dating, up four-fold in 5 years

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Getting in touch with research from ING revealing Aussie singles are heavily invested when it comes to love, splurging $42.8bn a year on dating – an increase of $31.1 billion since 2017. Despite the recent uncertainties around the cost of living (from affordable housing to $12 iceberg lettuce) - Aussies’ dating lives are continuing to thrive. The rapid adoption of dating apps is the number one factor contributing to the surge in dating costs, with Aussies now spending half a billion a year finding ‘the one’ online, an increase from $80.7m a year in 2017.