Australian Small Businesses Burdened by Red Tape

One issue that was expected to greatly influence the elections this year was the dissatisfaction of small businesses with the federal government. This was reported by the MYOB Australian Small Business Survey. 44% of small businesses reported that they thought poorly of the Federal Governmentís efforts towards growth in this section of the economy.

36% of the respondents stated interest rates as the main issue of contention. While small businesses in transport and storage rated the performance of the government most negatively, the agricultural sector did not have so negative a view.

The survey also reported that Australian small businesses felt that red tape constricted growth and entrepreneurship. Amongst the many areas of red tape 68% of the respondents rated BAS reporting to be most burdensome. 56% small businesses reported GST (daily transactions) amongst the tops 3 areas of red tape that most disturbed them and 31% said Occupational Health & Safety had them worried.

The small business managers who participated in the survey said that the fact that all these areas were time consuming businesses found them restricting.

It is important for small business and start-up business, like SOHO-, SME, SMB-, Micro-, Lifestyle-, Home-, DIY-, Hobby-, Boomer-, Professional-, Personal businesses, to find ways to reduce spending time on peripheral activities such as financial management and entrepreneurs should consider investing in business infrastructure. An online office can also help provide flexible working opportunities and should be considered seriously.

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