Perth Business Updates

 Hey All, Most entrepreneurs are worried about keeping their business afloat despite all the hardships. However, it does not work every time and many of them fail after a few years. It can be daunting because they can lose their savings and get distressed. To avoid such a huge problem, it is better to tale calculated risks and stay away from failure reasons. These include not being a good leader, not creating a positive work culture, not managing the finances effectively, not having a solid business plan and not creating a good marketing strategy. There are some other reasons as well. So, here is an article that will help you understand these obstacles.    https://www.business2sell.com.au/blogs/evaluation/top--reasons-new-businesses-fail

 Australian airline Qantas (ASX: QAN) has returned to profit after three years and $7 billion in statutory losses due to the pandemic’s impact on the aviation industry. The company today told shareholders it achieved a $1 billion statutory profit after tax for the first half, leading it to announce a share buy-back and bonuses for 20,000 non-executive staff. Underlying profit before tax reached $1.43 billion in the half - 49 per cent higher than the prior first-half record result achieved in FY18 - driven by "consistently strong" travel demand, higher yields and cost improvements. Read More: https://www.businessnewsaustralia.com/articles/after-three-years-of-losses--qantas-posts--1b-half-year-profit.html

 The board of law firm Slater & Gordon (ASX: SGH) has today unanimously backed a takeover offer from Sydney-based Allegro Funds that would see the suitor acquire 100 per cent of the company for $78 million. Under the off-market takeover offer, shareholders would receive 55 cents per share held, valuing the transaction at approximately $78 million based on the 141 million shares currently on issue - the majority of which are held by a consortium led by Anchorage Capital Partners. The announcement and the firm’s subsequent backing of the deal comes alongside Slater & Gordon’s first half financial results which detailed how the firm has returned to profit in the latest financial period. Read More: https://www.businessnewsaustralia.com/articles/slater---gordon-backs--78-million-allegro-funds-takeover-offer.html

 High rent and council marketing strategies have come under fire during a forum about revitalising Perth's CBD, despite widespread agreement that resident numbers and foot traffic need bolstering. Two weeks ago, the City of Perth celebrated the busiest weekend in the CBD for three years, recording 110,000 visitors from Friday night until Sunday. They had been attracted by events and artists like the Ultimate Fighting Championships (UFC), St Jerome's Laneway Festival, Sting and the Red Hot Chilli Peppers. Read More: https://www.abc.net.au/news/2023-02-24/perth-cbd-revitalisation-forum-calls-for-lower-commercial-rent/102013420