In the June quarter Survey of Business Expectations, we asked businesses to imagine a future where their businesses and industries were thriving. We wanted to know: what would be an absolute game-changer to make that happen?
Payroll Tax reform was a popular suggestion and was separately voted the top policy the government should pursue to boost productivity.
“Payroll Tax reform would be a game-changer for our business. It impacts our ability as owners to earn an income and our desire to further invest in the industry.”
A reduction in government red tape was also popular, with one business saying it“add[s] to compliance at the expense of productivity.”
One small business suggested the government prioritise creating “incentives to take risks, invest, and focus on growth.” Another said, “government really needs to take a pragmatic approach to balancing compliance with productivity.”
Housing remained front of mind for many as this business owner stated: “Ensuring that there is adequate affordable housing close to business hubs would significantly alleviate workforce shortages, making it easier to attract and retain skilled employees. This would boost productivity and reduce operational disruptions caused by high turnover and long commutes.”
The full results of the June 2024 Survey of Business Expectations can be found here.
