Economic growth has been slowing for the past 50 years, but relief might come from an unexpected place – a new form of manufacturing that is neither what you thought it was nor where you thought it was.

Industrial systems thinker Olivier Scalabre details how a fourth manufacturing revolution will produce a macroeconomic shift and boost employment, productivity and growth.

There are times where business owners, whether voluntarily or involuntarily, may need to wind up their business.

It is generally less complicated to wind up the business of a sole trader (who has declared “bankruptcy”) than to wind up a business run through other structures.

For companies, the terms typically used would be to “go into administration” or “liquidation”

A sole trader is less complicated to wind up because the principal of the business is also personally responsible for all debts and liabilities accrued by that business.

There is an under-used gem hidden within the small business simplified depreciation rules that in some circumstances can widen the opportunity to access this valuable deduction.

New research has revealed that most retirees do not spend as much as has been thought in retirement, and that this does not vary as much as expected regarding income levels – apart from the lowest income households. The study also suggests that policy proposals regarding superannuation tax concessions may miss the mark as far as influencing the ability of retirees to fund their lifestyles.

This month’s Business in Focus is Intouch Hair Creations.

We speak with owner, Amanda Kassis, on the recent startup of her new hairdressing business and discuss the challenges she and her team have overcome.

Something profound is changing our concept of trust, says Rachel Botsman. While we used to place our trust in institutions like governments and banks, today we increasingly rely on others, often strangers, on platforms like Airbnb and Uber and through technologies like the blockchain. This new era of trust could bring with it a more transparent, inclusive and accountable society – if we get it right. Why do you trust?

When a legal expense is incurred in relation to the operation of a business for the purpose of producing assessable income, it is generally allowable as a deduction. Exceptions are when the legal fee is capital, domestic or private in nature, if it is specifically excluded by another section of income tax legislation, or is incurred in earning exempt and non-assessable non-exempt income.

A dictionary definition of a trust is: “A fiduciary relationship in which one person (the trustee) holds the title to property (the trust estate or trust property) for the benefit of another (the beneficiary).”

Why create a trust?

It’s a question that the ATO has been asked very infrequently, but after the third such request it decided to issue a ruling – which still stands.

We speak with owner, James Nouri, on the success of his cafes and restaurants on the coast and discuss the challenges he and his team experience in the day-to-day operations of the business.