{"id":9660,"date":"2023-10-31T08:58:50","date_gmt":"2023-10-30T21:58:50","guid":{"rendered":"https:\/\/ipraccounting.com.au\/?p=9660"},"modified":"2023-10-31T09:46:33","modified_gmt":"2023-10-30T22:46:33","slug":"business-update-1-november-2023","status":"publish","type":"post","link":"https:\/\/ipraccounting.com.au\/business-update-1-november-2023\/","title":{"rendered":"Business Update \u2013 1 November 2023"},"content":{"rendered":"<p>Welcome to our Weekly Digest &#8211; stay in the know with some recent news updates relevant to business and the economy.<\/p>\n<h2>Australia\u2019s SMEs outshine global peers in latest Xero report<\/h2>\n<p>Recent <a href=\"https:\/\/dynamicbusiness.com\/topics\/news\/australias-smes-outshine-global-peers-in-latest-xero-report.html\" target=\"_blank\" rel=\"noopener\">Xero data reveals the ongoing resilience of Australian small businesses<\/a> despite a deceleration in sales and wages growth. Sales growth remains stronger compared to other XSBI markets.<\/p>\n<h2>Experts say Australia at 1-in-3 risk of hitting recession next year<\/h2>\n<p>A panel of economists questioned by Finder for its RBA Survey have said there is a <a href=\"https:\/\/www.9news.com.au\/finance\/fears-recession-australia-2024-finder-rba-survey\/45e15371-f630-4cca-9a8e-a30c39e7eb53\" target=\"_blank\" rel=\"noopener\">roughly one-in-three chance<\/a> that Australia will find itself in a recession in 2024.<\/p>\n<h2>RBA\u2019s horror rental prediction<\/h2>\n<p>In another cost of living blow, the availability of rental properties is \u201cat critical levels\u201d and the <a href=\"https:\/\/www.news.com.au\/finance\/economy\/australian-economy\/rba-forecasts-rent-inflation-will-continue-to-rise-over-the-next-six-months\/news-story\/1f1895d8de9d895d5b6e7fabb11475e3?from=rss-basic\" target=\"_blank\" rel=\"noopener\">RBA said the situation is unlikely to improve in the short term<\/a>.<\/p>\n<h2>PwC partner at centre of tax advice scandal banned by Asic for eight years<\/h2>\n<p>Australia\u2019s financial watchdog has<a href=\"https:\/\/www.theguardian.com\/business\/2023\/oct\/20\/pwc-partner-at-centre-of-tax-advice-scandal-banned-by-asic-for-eight-years\" target=\"_blank\" rel=\"noopener\"> issued an eight-year ban to a former\u00a0PwC\u00a0partner<\/a> at the heart of a confidentiality scandal that triggered a reputation crisis at the firm and a costly sell-off.<\/p>\n<h2>From Australia to the world<\/h2>\n<p>ANZ, along with the Australian Centre for International Trade and Investment, and the Australian Chamber of Commerce and Industry, have just released the\u00a0<a href=\"https:\/\/www.australianchamber.com.au\/wp-content\/uploads\/2023\/10\/ACCI-National-Trade-Survey-2023.pdf\">2023 National Trade Survey report.<\/a> Australian businesses want to embrace the opportunity of international trade \u2013 but the landscape can often be harder than it should be. There\u2019s a real opportunity for policymakers and industry to work together to <a href=\"https:\/\/bluenotes.anz.com\/posts\/2023\/10\/anz-whelan-trade-obstacles\" target=\"_blank\" rel=\"noopener\">help our home-grown businesses thrive in global markets.<\/a><\/p>\n<h2>Reserve Bank says cash orders have plunged by two-thirds in 3 years<\/h2>\n<p>Commercial bank <a href=\"https:\/\/www.theepochtimes.com\/world\/cashless-society-well-underway-as-cash-orders-plunge-by-two-thirds-5516322?utm_source=Aomorningbriefnoe&amp;src_src=Aomorningbriefnoe&amp;utm_source=Aomb-2023-10-25&amp;src_cmp=Aomb-2023-10-25&amp;utm_medium=Aoemail&amp;cta_utm_source=Aomorningbriefnoecta&amp;est=JggNdBokbLrLfyixPCTH7nEOPXZCvr81MGJ3kVcJKIEvOF07ldJhKDTVSh8V%2By6w\" target=\"_blank\" rel=\"noopener\">cash orders declined two-thirds and cash payments halved<\/a> over three years to 2022, according to the RBA.<\/p>\n<h2>Superannuation beneficiaries need to be considered for when you die<\/h2>\n<p>Superannuation is a major asset in many estates, but many people don&#8217;t realise that <a href=\"https:\/\/www.thesenior.com.au\/story\/8393684\/where-your-super-goes-in-your-estate-needs-careful-planning\/\" target=\"_blank\" rel=\"noopener\">superannuation is not automatically left in accordance with their will<\/a>.<\/p>\n<h2>NAB survey shows Gen Z Aussies are saving up to spend big on experiences<\/h2>\n<p>Gen Z Australians are <a href=\"https:\/\/www.news.com.au\/finance\/money\/budgeting\/nab-survey-shows-gen-z-aussies-are-saving-up-to-spend-big-on-experiences\/news-story\/76128da8423ee5e93a3217e802911be4\" target=\"_blank\" rel=\"noopener\">saving hard to splash out on \u201conce-in-a-lifetime\u201d moments<\/a> as part of a generational move to make up for time lost to the pandemic, according to the latest consumer survey from one of Australia\u2019s biggest banks.<\/p>\n<h2>Australian share market drops to 2023 low as tech stocks plummet<\/h2>\n<p>The Australian <a href=\"https:\/\/www.news.com.au\/finance\/markets\/australian-markets\/australian-share-market-drops-to-2023-low-as-tech-stocks-plummet\/news-story\/0c49b66aa33f8729838cfe9b917e9bf5\" target=\"_blank\" rel=\"noopener\">share market fell to its lowest point of the year<\/a> on Thursday after a mixed result from US tech giants overnight pushed Wall Street lower.<\/p>\n<h2>Get in touch<\/h2>\n<p>Contact us if you have any questions or want to discuss the next steps for your business.<\/p>\n<p><a class=\"button\" href=\"\/contact-us\/\">Contact us<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Welcome to our Weekly Digest &#8211; stay in the know with some recent news updates relevant to business and the economy. Australia\u2019s SMEs outshine global peers in latest Xero report Recent Xero data reveals the ongoing resilience of Australian small businesses despite a deceleration in sales and wages growth. Sales growth remains stronger compared to &hellip; <a href=\"https:\/\/ipraccounting.com.au\/business-update-1-november-2023\/\">Continued<\/a><\/p>\n","protected":false},"author":11,"featured_media":8389,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[89],"tags":[],"jetpack_publicize_connections":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Business Update \u2013 1 November 2023 - IPR Accounting | Cin7 Core\/DEAR Consultant<\/title>\n<meta name=\"description\" content=\"Welcome to our Weekly Digest &#8211; stay in the know with some recent news updates relevant to business and the economy. Australia\u2019s SMEs outshine global\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ipraccounting.com.au\/business-update-1-november-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Business Update \u2013 1 November 2023 - IPR Accounting | Cin7 Core\/DEAR Consultant\" \/>\n<meta property=\"og:description\" content=\"Welcome to our Weekly Digest &#8211; stay in the know with some recent news updates relevant to business and the economy. Australia\u2019s SMEs outshine global\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ipraccounting.com.au\/business-update-1-november-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"IPR Accounting | Cin7 Core\/DEAR Consultant\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-30T21:58:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-30T22:46:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ipraccounting.com.au\/app\/uploads\/weekly-update-1-1.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"IPR Accounting\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ipraccounting.com.au\/business-update-1-november-2023\/\",\"url\":\"https:\/\/ipraccounting.com.au\/business-update-1-november-2023\/\",\"name\":\"Business Update \u2013 1 November 2023 - IPR Accounting | Cin7 Core\/DEAR Consultant\",\"isPartOf\":{\"@id\":\"https:\/\/ipraccounting.com.au\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/ipraccounting.com.au\/business-update-1-november-2023\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/ipraccounting.com.au\/business-update-1-november-2023\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ipraccounting.com.au\/app\/uploads\/weekly-update-1-1.jpeg\",\"datePublished\":\"2023-10-30T21:58:50+00:00\",\"dateModified\":\"2023-10-30T22:46:33+00:00\",\"author\":{\"@id\":\"https:\/\/ipraccounting.com.au\/#\/schema\/person\/6934d15baae0108f728027fc33ecaf43\"},\"description\":\"Welcome to our Weekly Digest &#8211; stay in the know with some recent news updates relevant to business and the economy. Australia\u2019s SMEs outshine global\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ipraccounting.com.au\/business-update-1-november-2023\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ipraccounting.com.au\/business-update-1-november-2023\/#primaryimage\",\"url\":\"https:\/\/ipraccounting.com.au\/app\/uploads\/weekly-update-1-1.jpeg\",\"contentUrl\":\"https:\/\/ipraccounting.com.au\/app\/uploads\/weekly-update-1-1.jpeg\",\"width\":750,\"height\":500,\"caption\":\"Weekly Update 1 1\"},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ipraccounting.com.au\/#website\",\"url\":\"https:\/\/ipraccounting.com.au\/\",\"name\":\"IPR Accounting | Cin7 Core\/DEAR Consultant\",\"description\":\"Cin7 Core\/DEAR Consultant and eCommerce Accountant in Box Hill, Melbourne and beyond\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ipraccounting.com.au\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/ipraccounting.com.au\/#\/schema\/person\/6934d15baae0108f728027fc33ecaf43\",\"name\":\"IPR Accounting\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ipraccounting.com.au\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/6fe5299e37cc12194145386f5d3abdee?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/6fe5299e37cc12194145386f5d3abdee?s=96&d=mm&r=g\",\"caption\":\"IPR Accounting\"},\"url\":\"https:\/\/ipraccounting.com.au\/author\/shirley-xu\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Business Update \u2013 1 November 2023 - IPR Accounting | Cin7 Core\/DEAR Consultant","description":"Welcome to our Weekly Digest &#8211; stay in the know with some recent news updates relevant to business and the economy. Australia\u2019s SMEs outshine global","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ipraccounting.com.au\/business-update-1-november-2023\/","og_locale":"en_US","og_type":"article","og_title":"Business Update \u2013 1 November 2023 - IPR Accounting | Cin7 Core\/DEAR Consultant","og_description":"Welcome to our Weekly Digest &#8211; stay in the know with some recent news updates relevant to business and the economy. Australia\u2019s SMEs outshine global","og_url":"https:\/\/ipraccounting.com.au\/business-update-1-november-2023\/","og_site_name":"IPR Accounting | Cin7 Core\/DEAR Consultant","article_published_time":"2023-10-30T21:58:50+00:00","article_modified_time":"2023-10-30T22:46:33+00:00","og_image":[{"width":750,"height":500,"url":"https:\/\/ipraccounting.com.au\/app\/uploads\/weekly-update-1-1.jpeg","type":"image\/jpeg"}],"author":"IPR Accounting","twitter_card":"summary_large_image","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/ipraccounting.com.au\/business-update-1-november-2023\/","url":"https:\/\/ipraccounting.com.au\/business-update-1-november-2023\/","name":"Business Update \u2013 1 November 2023 - IPR Accounting | Cin7 Core\/DEAR Consultant","isPartOf":{"@id":"https:\/\/ipraccounting.com.au\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ipraccounting.com.au\/business-update-1-november-2023\/#primaryimage"},"image":{"@id":"https:\/\/ipraccounting.com.au\/business-update-1-november-2023\/#primaryimage"},"thumbnailUrl":"https:\/\/ipraccounting.com.au\/app\/uploads\/weekly-update-1-1.jpeg","datePublished":"2023-10-30T21:58:50+00:00","dateModified":"2023-10-30T22:46:33+00:00","author":{"@id":"https:\/\/ipraccounting.com.au\/#\/schema\/person\/6934d15baae0108f728027fc33ecaf43"},"description":"Welcome to our Weekly Digest &#8211; stay in the know with some recent news updates relevant to business and the economy. Australia\u2019s SMEs outshine global","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ipraccounting.com.au\/business-update-1-november-2023\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ipraccounting.com.au\/business-update-1-november-2023\/#primaryimage","url":"https:\/\/ipraccounting.com.au\/app\/uploads\/weekly-update-1-1.jpeg","contentUrl":"https:\/\/ipraccounting.com.au\/app\/uploads\/weekly-update-1-1.jpeg","width":750,"height":500,"caption":"Weekly Update 1 1"},{"@type":"WebSite","@id":"https:\/\/ipraccounting.com.au\/#website","url":"https:\/\/ipraccounting.com.au\/","name":"IPR Accounting | Cin7 Core\/DEAR Consultant","description":"Cin7 Core\/DEAR Consultant and eCommerce Accountant in Box Hill, Melbourne and beyond","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ipraccounting.com.au\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/ipraccounting.com.au\/#\/schema\/person\/6934d15baae0108f728027fc33ecaf43","name":"IPR Accounting","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ipraccounting.com.au\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/6fe5299e37cc12194145386f5d3abdee?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/6fe5299e37cc12194145386f5d3abdee?s=96&d=mm&r=g","caption":"IPR Accounting"},"url":"https:\/\/ipraccounting.com.au\/author\/shirley-xu\/"}]}},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ipraccounting.com.au\/app\/uploads\/weekly-update-1-1.jpeg","_links":{"self":[{"href":"https:\/\/ipraccounting.com.au\/wp-json\/wp\/v2\/posts\/9660"}],"collection":[{"href":"https:\/\/ipraccounting.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ipraccounting.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ipraccounting.com.au\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/ipraccounting.com.au\/wp-json\/wp\/v2\/comments?post=9660"}],"version-history":[{"count":1,"href":"https:\/\/ipraccounting.com.au\/wp-json\/wp\/v2\/posts\/9660\/revisions"}],"predecessor-version":[{"id":9661,"href":"https:\/\/ipraccounting.com.au\/wp-json\/wp\/v2\/posts\/9660\/revisions\/9661"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ipraccounting.com.au\/wp-json\/wp\/v2\/media\/8389"}],"wp:attachment":[{"href":"https:\/\/ipraccounting.com.au\/wp-json\/wp\/v2\/media?parent=9660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ipraccounting.com.au\/wp-json\/wp\/v2\/categories?post=9660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ipraccounting.com.au\/wp-json\/wp\/v2\/tags?post=9660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}