“Any government who overlooks the small business community at election time does so at their own peril”
Mr Cameron Poolman, CEO of OnDeck Australia
As Australia’s small business community prepares for the Federal Election on May 3, a new study from OnDeck Australia reveals what’s on their minds.
With 2.5 million small businesses forming the backbone of the nation’s economy, their voting preferences are shaped by everyday worries, cost of living, energy bills, and a wish for more government support. It’s a chance for these hardworking entrepreneurs to see their needs reflected in the policies of tomorrow.
The research paints a vivid picture: 85% of small business owners say cost-of-living pressures will guide their vote, a concern echoed by 84% who highlight inflation as a daily challenge. Energy prices, too, weigh heavily, with 54% pointing to rising power costs as a key issue. Beyond their storefronts, broader household matters like healthcare funding (55%) and housing affordability (54%) also tug at their decisions, showing these owners care about more than just the bottom line.
Mr Cameron Poolman, CEO of OnDeck Australia, says, “Australia’s 2.5 million small businesses form a significant voting bloc. The concerns of our most entrepreneurial Australians cannot be ignored by either side of politics.” He sees their voices as a gentle nudge to politicians, a reminder of the millions who keep the country running.
More than just numbers
When asked what they’d like addressed, 61% of small business owners call rising business costs, especially energy, their top priority. Many, like small retail shops spending $5,000 to $10,000 a year on electricity or cafes facing $10,000 to $15,000, feel the pinch. Another 60% hope for lower tax rates, while 51% dream of falling interest rates. A third even look to the Instant Asset Write-Off (IAWO) expanding, a small but meaningful boost for their growth.
Government efforts are in the mix. The Labor government’s recent budget promises energy bill relief through 2025, offering up to $150 rebates for around one million eligible SMEs. Poolman reflects, “The Labor government is extending energy bill relief for six months to the end of 2025, which is expected to see around one million eligible small businesses receive up to $150 in rebates directly off their bills. However, $150 is a drop in the ocean at a time when energy costs are already high, and expected to rise by between 4.2% and 8.2% for many small business.” It’s a step, but for businesses facing bills up to $20,000, it’s a modest one.
Tax relief is another conversation. Poolman notes, “We understand that tax cuts could have an inflationary impact that may just push interest rates higher. But we agree with one in three small business owners who would like to see an expansion of the Instant Asset Write-off (IAWO).” Labor plans to extend the $20,000 IAWO to June 2026 if re-elected, while the Coalition has floated a permanent $30,000 version. Both ideas offer SMEs a chance to invest, but owners wonder what else might come.
Poolman sees the bigger picture: “This investment is critical to building a stronger small business sector. The Labor government has pledged to extend the IAWO for another 12 months to 30 June 2026 if it wins the election. However, this commitment falls short of the Coalition’s pledge to offer a permanent $30,000 instant write-off.” It’s a quiet hope among SMEs that someone will listen.
With 98% of Australian businesses being small and employing over five million people, 42% of the private workforce, their influence is undeniable. Poolman adds a thoughtful note: “We know that 98% of Australian businesses are small businesses, and together they employ over five million people, about 42% of the private sector workforce. Any government who overlooks the small business community at election time does so at their own peril.” As the election nears, SMEs aren’t demanding, they’re asking for a fair go, hoping their voices shape a brighter future.
- https://www.asbfeo.gov.au/small-business-data-portal/number-small-businesses-australia
- https://budget.gov.au/content/06-economy.htm
- https://www.aer.gov.au/news/articles/news-releases/default-market-offer-dmo-2025-26-draft-determination
- https://nextbusinessenergy.com.au/blog/average-electricity-bill-for-small-businesses
- https://alp.org.au/news/more-tax-relief-for-small-businesses-under-labor/
- https://www.liberal.org.au/2025/03/26/labor-heads-to-election-with-new-small-business-tax-increase
- https://www.asbfeo.gov.au/small-business-data-portal/number-small-businesses-australia
- https://www.asbfeo.gov.au/small-business-data-portal/contribution-australian-employment
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