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Extracts from recent banking and finance blogs

Every business needs content. Not the bland, me-too nonsense that so often clutters up our in-boxes and feeds, but genuinely useful, interesting content. Content that lets a business stand out amid the clutter and noise. Below are some extracts from our work with NAB, UBank and others.

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Change is the essence of capitalism

Back in 1942, Joseph Schumpeter popularised the idea that creative destruction of economies, and/or sectors of economies, was critical to prosperity and growth. He posited that progress in a capitalist system relied on the destruction of an existing economic order to make room for the next. Capitalism was, essentially, an evolutionary process of continuous innovation.

Agents of this creative destruction range from the opening up of new markets to revolutionary technologies like steam engines, electricity, the combustion engine, and the internet.

free trade agreement

What is a free trade agreement (FTA)?

An FTA is an agreement between two countries, or even whole regions, to eliminate things that hinder free trade such as import duties, export bounties, domestic production subsidies, trade quotas, import quotas and trade tariffs. Taxing imports protects domestic industries against competition from cheaper (sometimes better) imports, which encourages us to buy Australian. This is known as protectionism, the upside of which is good because money stays here to fuel employment and other sectors. On the downside, protectionism shields local companies from the real trading world, which can stifle innovation and the pursuit of excellence.

 

Upgrading the family home

Your bathroom has more cracks in it than a TV soap opera plot and that 70s kitchen is not going to go away any time soon. And then there’s that concrete slab that passes for a backyard. Something needs to be done but the reality is that few things test a relationship more than a renovation. If this sounds like you, then perhaps it’s time to consider upgrading to a new home. The following article considers some questions around the transition, and managing the purchase and finance.

 A step-by-step guide to knocking down and rebuilding

 You love where you live but no matter how many ways you look at it you just can’t make that renovation work. How about the knock-down and rebuild option? It means no more space constraints and you can put that lap pool in the lounge room like you always wanted! No, but seriously, there’s plenty to know before you start the demolition so read on for our step-by-step how-to guide to knocking down and rebuilding.

Is your property right for a subdivision?

Subdividing offers a simple, compelling logic. Take a large property, split it, sell one half – or both – and make twice what you would if you’d sold the property as a whole. While this sounds simple on paper, it’s generally a complex and challenging undertaking that needs a lot of things to be in place to ensure success. So before you carve up your backyard or buy that knockdown house on a big block work out if your current or future investment property has the following features.