Over two-thirds (71 per cent) of small business owners say the federal government is not doing enough to support them, in a new study by accounting software provider Reckon (ASX:RKN). Government red tape is considered the biggest obstacle to creating a start-up in Australia, with over half (52 per cent) of SMBs agreeing. The survey, which […]
What are the attributes of an SME that is growing, and how do they differ from a business with static or declining revenue? [Related: SMEs trading banks for fintechs, poll suggests] Twice a year, when more than 1200 owners or leaders of SME businesses are interviewed for our SME Growth Index, one of the first questions […]
A Productivity Commission will be established in NSW to spearhead a micro-economic reform agenda that includes a focus on reducing red tape for businesses, Treasurer Dominic Perrottet has announced. The first-ever NSW Productivity Commission, which will be led by a yet-to-be-appointed Productivity Commissioner, was announced at the NSW Business Chamber by Treasurer Dominic Perrottet, who […]
The Australian Small Business and Family Enterprise Ombudsman has today released a study into factors impacting small to medium enterprise investment. According to Ombudsman Kate Carnell, SME investment is being impeded by limited access to capital as well as red tape and energy prices and that removing these barriers would “give them confidence to grow […]
National Australia Bank’s decision to introduce shorter, plain English loan contracts for small business borrowers has been welcomed by the Australian Small Business and Family Enterprise Ombudsman. According to the bank, more than 130,000 business owners will benefit from the complete overhaul of its existing business standard loan form contract, which involved simplifying contractual clauses, […]
An inter-governmental partnership to help reduce red tape for new small businesses has been announced today. The announcement follows the test launch, in April 2017, of a new business registration service to make the process simpler for small businesses, with the aim being to save new business starters $40 million each year. The Federal Government […]
After the Federal Budget was announced on Tuesday, 9 May, small business owners will be trying to work out what matters most to them. Here are three main things we have been reviewing that may impact how small business do business – and it is mostly for the better. 1. Less red tape It is […]
Coinciding with the anticipated release of the Small Business Ombudsman’s report on its inquiry into payment times and practices, American Express has released research showing mid-sized Australian businesses owe $8 billion in outstanding payments to suppliers, with more than $2 billion currently overdue. According to Martin Seward, VP, Small & Medium Enterprises at American Express Australia, […]
Senator Eric Abetz has recommended the federal government return small business to the cabinet and place the portfolio in the hands of Liberals. In an address to the Young Liberal Federal Convention, last weekend, the former minister warned that “too much red tape, too much taxation and oppressive regulations” barred small businesses from fulfilling their […]
Further cuts to red tape will save NSW business owners $815 million making owning and growing a business in NSW even easier. The red tape reforms have exceeded the $750 million June target according to the Minister for Small Business, John Barilaro and Minister for Innovation and Better Regulation, Victor Dominello. “Scaling back red tape […]
