Minding your business: August

Tim Tams, Iced Vovos and Monte Carlos have gone on sale.

Arnott's has been put on the market by Campbell Soup Co, 21 years after the American food giant bought the iconic Australian brand in a deal that prompted disquiet among patriotic biscuit lovers Down Under.

The move by Campbell's to exit its international business and refocus on core operations is part of an overall strategy to cut costs by more $US945 million ($A1.3 billion) by 2022 and to pay down debt.

Sydney-based Arnott's employs about 2,400 people in Australia, with more in New Zealand, Indonesia, Malaysia, Singapore and Japan.

Campbell's has engaged Goldman Sachs and Centerview Partners to conduct the sale of its Campbell International unit, which includes Arnott's, and refrigerated good business Campbell Fresh.

The two businesses together contributed approximately $US2.1 billion of sales in the last financial year.

Michaelia Cash looks at more tax cuts for small businesses

Further tax reform for small business is on the agenda for the Morrison government with taxation "absolutely always a number one issue".

Small business minister Michaelia Cash has said tax cuts for small business will be part of the government's policy.

With the government dumping its policy of tax cuts for businesses with a turnover of over $50 million, Prime Minister Scott Morrison has said there would be "a new, exciting, tax policy for small and medium businesses".

Ms Cash said she is "in discussions" with the Prime Minister about the policy.

"I can't give you anything more concrete than that," she said. "We are committed to small and medium businesses and we are committed to policies that are going to help them grow and certainly tax cuts are part of that policy mix."

Online cake frenzy fuels millionaire's pastry purchase

When Black Star Pastry's strawberry watermelon cake became a social media star more popular than the Sydney Opera House and Bondi Beach for Chinese tourists, Louis Li became obsessed.

Li, the 30-year-old founder of Victoria's luxury Jackalope Hotel group, had tasted Black Star Pastry's world's most instagrammed cake three years ago when a friend bought him a takeaway slice - he loved it some much he decided to buy the company.

As of Monday, Li, who moved to Melbourne in 2007 to study film and then undertake an MBA, will become majority shareholder and CEO in the company. He plans to take it from its humble beginnings in Australia Street, Newtown to the world.

Mr Li's $40 million five-star boutique Jackalope Hotel, which opened to guests on the Mornington Peninsula in April 2017, was awarded 'Australia's Hotel of the Year' at the 2017 Gourmet Traveller Australian Hotel Guide Awards.

The former Chinese teen TV star's goal is to keep Sydney as the focus for the Black Star brand.