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The information to follow has been collected from verifiable sources and curated by Inspiring Business. You choose which one you want to receive and this can be changed at any time here. |
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Technology and Innovation NSW accounting and advisory firm allegedly hit by SafePay ransomware
SafePay ransomware claimed responsibility for a cyber attack on a Grafton, NSW accounting and advisory firm in July 2026 and threatened to leak stolen client data.
Implication Business owners working with accountants and advisers who hold sensitive financial data should confirm backups, multi-factor authentication and incident response plans are current.
Read more on the Cyber Daily website here
Australian small business cyber incidents hit record high as AI-driven attacks accelerate
84% of Australian SMEs reported a cyber incident in the past year, with average losses around $56,600. AI-generated phishing drove a 30% rise in successful initial-access attacks in 2025-26, yet 38% still believe their size makes them an unlikely target.
Implication Business owners should check basic cyber hygiene, backups, multi-factor authentication and staff phishing awareness, before a renewal or an incident forces the issue.
Read more on the Cyber Pulse Australia website here
The compliance crunch facing small businesses this July
Payday Super, quarterly BAS and the final quarterly super guarantee payment fall in the same July cycle, squeezing cash flow for SMEs that have not adjusted their payment rhythm.
Implication Business owners should map their July compliance dates against cash flow now, before the Payday Super and BAS collision catches them short.
Read more on the SmartCompany website here |
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SME Risk and Compliance
ATO small business tax debt hits $35.9 billion, ANAO audit finds
An ANAO audit found small businesses owe $35.9 billion of the ATO's $54.2 billion collectable tax debt, up 118% since 2018-19, with the ATO set to intensify Director Penalty Notices, garnishee notices and asset freezes to recover it.
Implication Business owners with ATO payment plans or overdue BAS or super should raise it with their accountant now, before enforcement action lands unannounced.
Read more on the Australian National Audit Office website here
Small businesses aren't banks
Why Australia's 60-day payment cycle needs a reset A SmartCompany analysis argues Australia's default 60-day payment cycle forces small suppliers to extend unsecured credit to larger customers, adding pressure as Payday Super and quarterly BAS obligations land in the same July cycle.
Implication Business owners should review payment terms with major customers now, before slow payments compound with July's compliance costs to squeeze working capital further.
Read more on the SmartCompany website here
The compliance crunch facing small businesses this July
Payday Super, quarterly BAS and the final quarterly super guarantee payment fall in the same July cycle, squeezing cash flow for SMEs that have not adjusted their payment rhythm.
Implication Business owners should map their July compliance dates against cash flow now, before the Payday Super and BAS collision catches them short.
Read more on the SmartCompany website here |
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SME People and Culture There is no People and Culture information worth sharing this week |
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Money and Markets
Deloitte Access Economics cuts 2026-27 growth forecast as domestic pressures persist
Deloitte Access Economics cut its 2026-27 real growth forecast for Australia from 1.9% to 1.3%, citing high interest rates, weak consumer and business confidence and a prolonged cost-of-living squeeze.
Implication Business owners should stress-test budgets and pricing for a slower-growth year rather than assume a rebound.
Read more on the Deloitte Access Economics website here
ANZ-Roy Morgan Consumer Confidence virtually unchanged at 75.6
ANZ-Roy Morgan weekly consumer confidence rose 0.3 points to 75.6 in the week to 21 July, as a lift in appetite for major purchases was offset by weaker confidence in personal finances and the outlook amid Middle East tensions.
Implication Business owners in discretionary or non-essential categories should keep plans conservative through Q3, since sentiment remains hostage to global shocks as well as domestic rate settings.
Read more on the Roy Morgan Research website here
Australian consumer inflation expectations fall to 4.7% in July, easing from 5.5%
Melbourne Institute consumer inflation expectations fell to 4.7% in July from 5.5% in June, the largest easing in months, though overall sentiment remains historically weak.
Implication Business owners can treat easing inflation expectations as a cautious tailwind for H2 2026 pricing decisions, while keeping plans conservative given fragile sentiment.
Read more on the FXStreet website here
Westpac - Melbourne Institute Consumer Sentiment rises 4.1% in July as fuel prices ease
Westpac-Melbourne Institute Consumer Sentiment rose 4.1% to 83.9 in July as fuel-price pressures eased, though the index remains in the bottom 10% of its 50-year history.
Implication Business owners in discretionary categories should treat the uptick as fragile rather than a turnaround, and plan conservatively this quarter.
Read more on the FXStreet website here |
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Family Business Succession and Exitability There is no Succession and Exitability information worth sharing this week |
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