According to this story from Radio Australia, more than a third of people in East Timor don't have access to any type of banking services and many small businesses in the small nation are in dire need of finance. With the setting up of a small business in East Timor can be seriously difficult, new initiatives from the World Bank – with support from Australia – hope to help the sector get the boost it needs. Here’s some interesting points from the story:
- It used to take up to 65 days to register a small business in East Timor, with four or five government ministries having to approve the process. Now it takes around 19 days, and eventually it will take just one.
- There are five banks in East Timor but they're mostly reluctant to approve loans for local enterprises.
Today Optus is launching its 4G network to consumers in Sydney, Perth and Newcastle, which it argues will usher in a new era of competition in Australian telecommunications. The Optus 4G network will also be launched in Melbourne from September 15. To coincide with the launch of its 4G network, Optus will be the first carrier in Australia to launch the Samsung GALAXY SIII 4G. On page 46 in the newly published September print issue of My Business, we review the Samsung GALAXY SIII – sans 4G.
MoneySmart Week, Australia's first ever national, not-for-profit, financial literacy awareness week, is currently in full swing and the ATO wants you to get involved. An Australian Government Financial Literacy Board initiative, MoneySmart Week encourage all Australians, including young people, to take a closer look at their everyday money management. If you’re keen, there’s more info here.
Australia will host an international symposium on regional financial market integration in 2013, bringing together private sector leaders and regulators in the financial services industry from across the Asia Pacific region. The Symposium, to be held in Sydney in the first half of next year, will explore the proposal put forward by the APEC Business Advisory Council at the APEC Finance Ministers Meeting in Moscow recently, for the creation of an Asia Pacific Financial Forum to strengthen and promote regional financial architecture.
WorkSafe and Swan Hill Inc are hosting a safety information session ahead of a workplace inspection blitz on Swan Hill small businesses from 17-21 September. The WorkSafe session, which will be held this coming Thursday September 6, will advise businesses on what to expect from WorkSafe inspectors and how to prepare in the lead-up to the campaign. The session will be held at the All Seasons Resort, 405 Campbell Street, Swan Hill from 0730-0900. Tickets are $10 and include a cooked buffet breakfast. Bookings are essential and can be made to Rebecca at Swan Hill Inc on (03) 5032 3033.
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