Economy

Startups more confident in 2014; Gold drops to 18-week low: Midday Roundup

Engel Schmidl /

Despite industry claims the budget would be a significant setback for new businesses, a new survey shows Aussie startups are actually more confident about their revenue growth compared to last year.

The MYOB survey showed 62% of startups experienced rising or steady revenue in the 12 months to February 2014, compared to 53% in August 2013.

Consequently, the confidence of founders in the future of their startup had increased, with 38% of respondents expecting revenue to rise in the 12 months to February 2015, up from 34% last year.

Only 17% of startups surveyed said they expected revenue to decline, a significant drop from 22%.

Gold drops to 18-week low

Gold prices have fallen to their lowest level in 18 weeks, dropping to $US1259.

Business Spectator reports investors are seeing less of a need to hold on to the precious metal as the conflict between Russia and Ukraine eases.

Shares down on open

Aussie shares have opened lower this morning, following the lead of the US markets.

The S&P/ASX200 benchmark was down 5.6 points to 5521.6 points at 12.04pm AEST. On Wednesday, the Dow Jones closed 42.32 points lower, down 0.25% to 16633.2 points.

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