KBB Morning Snapshot

September 19, 2012, 9:25 am Kochie's Business Builders Yahoo!7

China Slowing Down ~ Penalty Rates Here To Stay ~ Bike Lanes Hindering Business? ~ National Family Business Day

KBB Morning Snapshot

- The Australian Financial Review reports today that China is preparing for a slow down in growth which is "structural, not cyclical", and that Australia may need to start preparing for a trading partner with slowing growth. China's Central Bank has not showed concern over the slowing economy and disregarded the need to stimulus.

- The Government has expressed its commitment to supporting penalty rates for weekend and public holiday work. Workplace Relations Minister Bill Shorten confirmed today that the reduction in penalty rates which was proposed will not go ahead. While often an added pressure for small businesses, Mr Shorten added that employees working "unsociable hours" deserve the added wage.

- Bike lanes may be great in a lot of ways for a city, but are they harming your business? That's one suggestion made by a Melbourne family business who says they rely on the street parking out front of their retail shop, which would be eliminated should approval for bike lanes go ahead.

- Today is National Family Business Day - an opportunity to celebrate Australia's family businesses, which account for around 70% of all businesses in Australia and employ 50% if the national work force!

If you want a nominate a family business you know of to win today's KBB Family Business hero, head to the KBB Facebook or Twitter!