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Budget 2011: Building a talent pool for private businesses

Plans to build Australia’s workforce, unveiled in last night’s Budget are a step in the right direction for private businesses.

A lack of qualified staff is the number one challenge for private businesses according to the PwC Private Business Barometer, a survey of more than 850 Australian private businesses with an annual turnover of between AUD $10 & $100million.

PwC Private Clients partner Jason Daniels says, “The Government’s plan to skill more Australians from school leavers and apprentices to older workers and attract skilled people from overseas will increase the talent pool for private businesses particularly those in regional areas.”

“However, private businesses are still not on equal footing with their cousins, big business, so will need to be flexible and creative about the way they attract skilled workers from the newly expanded talent pool.”

According to the Barometer nearly two thirds (60%) will be looking to hire new staff in the next six months.

Mr Daniels adds, “There were some other minor changes to assist small businesses who are doing it tough out there. If the Government wanted to be more generous it could have relaxed the turnover test from $2 million to $5 million so more businesses enjoyed the benefits.”

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Natalie Tsirimokos

Natalie Tsirimokos

Digital Editor of Dynamic Business

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