Funding & Finance

Despite acknowledging there’s no way to predict its success, venture capitalists are “feeling good” about new White House initiative Startup America, according to the Wall Street Journal. So, when can we expect the launch of 'Startup Australia'?

So, you're building a business and want to use external funding sources to accelerate its growth. While we can't promise that you'll achieve this notable feat (raise angel money or venture capital in seven weeks), we can promise to provide you with thought-provoking articles and videos -- every Thursday at 3pm -- for seven weeks.

Applications for credit card and personal loans in Australia in fourth-quarter 2010 showed year-to-year growth for the first time since 2008. The credit push, however, couldn't counterbalance a continuing freefall in mortage applications.

Offer Me, one of Australia's early adopters of the group-buying model, released a media statement on Friday alerting the media that it is on the "verge of" receiving "substantial" venture funding from overseas investors. But being on the 'verge' of a big deal is, indeed, not a big deal (and possibly not even news). So, why would someone produce a media release and court the media's attention about a deal not done?

On 29 January 2010, after a month of spirited bidding, 2009 Anthill Smart 100 honoree Apartmentreviews.com.au was sold for $8,700 on the website-auction site Flippa. In a message to Anthill, founder Shane Moore said, "There aren't so many Australian websites that sell for more than a few grand on Flippa." Moore is clearly happy with the sale price. But why $8,700? Was this a fair value?

Australian firms took, on average, 51.2 days to settle accounts in Q4 – well above the standard 30 day payment term. Some industries were found to be tardier than others. The electric, gas and sanitary services sector took 60.8 days to settle its accounts in Q4 - more than twice the standard 30 days. The services sector was best in group, settling accounts in just 50.7 days. State by state, Western Australia was the quickest, on average, while the ACT was the slowest.

Brisbane is keen to spread the word: floods won’t dampen spirits or finances for long. Industry forecasters, IBISWorld, predict the city will receive a $10 billion economic boost due to rebuilding efforts, while Brisbane’s Lord Mayor Campbell Newman says it’s vital at this time to assure business and industry that Brisbane has resumed operations.

Those of us who are Baby Boomers will, over the next 15-20 years, be the beneficiaries of the greatest transfer of inherited wealth the world has ever seen. What if 10%, or 15%, or even 20% of that inheritance pool was diverted to charities? Can you imagine the positive impact this would have?

When it comes to smarts, Harvard professors and their Ivy League cronies always bring their A-game. So when educator Michael E. Porter recommended capitalism could do with a bit of a rethink, it’s worth listening to what the fellow has to say.

This morning, it was confirmed that Yahoo!7 has acquired Australian group-buying business Spreets for $40 million. The deal is the first of what is expected to become a consolidation of the Australian group-buying market. However, what's truly remarkable about this announcement is the short time-frame between Spreets' launch and its sale, after only 10 months on the Australian market.

"The American Dream" is a horror story told in "South Park" style. It says the U.S. Federal Reserve Bank has locked the US in a nigh-unbreakable cycle of loans, interest and debt, using an endless flow of currency that's backed by absolutely nothing. Side-splitting yet sobering, there's a lesson in this YouTube 'epic' for everyone.

The 2011 We Media PitchIt Challenge is offering $50,000 in seed funding to help launch two innovative media and tech startups. It's now open for entries and the deadline to enter the challenge is 4 February 2011. Two winners each will earn a $25,000 sponsorship to help launch their idea.

Even in these tight economic times, the task of getting financial support from a bank can be greatly eased if a business owner learns how to speak a bank’s language and use similar risk-management tools and techniques.

The NSW Government is encouraging technology developers to register for a briefing on its $6 million 'Collaborative Solutions' program. The briefing, to take place on 2 February, will introduce the first initiative of the Program, which will focus on developing new mobile and wireless solutions for the State's tourism and retail sectors.

Domenic Carosa, at age 35, is already a wily veteran of online entrepreneurship. In this wide-ranging interview with Anthill, he talks about investing in internet upstarts (as compared to startups) and about what kinds of entrepreneur he's likely to invest in. Oh, and keep an eye out for a Special Guest Appearance at 5:23. Woof.

ME Bank will waive fees and suspend repayments for customers whose homes and businesses have been damaged in the Queensland and NSW floods. In addition to donating $50,000 to the Queensland Flood Relief Appeal, the bank will apply its Customer Hardship Policy to members that require financial relief as they rebuild their lives.

So, it’s 2011. Don’t you love all those articles about New Year’s resolutions that give you hope that your business can achieve anything (and now)? But exactly how do you go about it? Here are some suggestions.

In this podcast, Leon and Garry talk about Treasurer Wayne Swan’s raft of bank reforms while the Senate economics committee has hearings into the banking business, Australia’s super system is to be manipulated, new figures show that despite the mining boom, the real economy is struggling with vehicle sales down, personal credit shrinking, dwelling commencements falling, low business confidence and more businesses expected to call in corporate undertakers and consumer confidence edges up.

RetailMeNot co-founder Guy King has much to be thankful for this holiday season. In early December, he and co-founder Bevan Clark sold the online coupon directory to WhaleShark Media for a reported US$90 million. The business was launched four years ago with only $30.00 in startup funding. Anthill's James Tuckerman caught up with King in the studios of Media Saints shortly before the 2010 Christmas break.

In this podcast, RMIT economist Sinclair Davidson talks about the welcoming news from the latest unemployment and mortgage figures. He also looks at the interesting case of the reduction in domestic wine production, but believes that this signals a change for the better in the wine market.