CPA Australia welcomes Queensland Government’s business action statement

CPA Australia welcomes the Queensland Government’s Small and Family Business First Action Statement published today, which acknowledges the importance of small businesses to the state and the challenges they face.

Gavan Ord, CPA Australia’s Business Investment Lead, said: 

• “The statement rightly highlights the operating challenges and pressures being faced by small businesses, including the high cost of doing business, regulatory burden, the impact of global uncertainties and digital transformation.
• “Small businesses are often forgotten in the conversation about cost-of-living pressures, but the financial challenges they face have made doing business increasingly difficult for many in recent years. This is reflected in CPA Australia data, which shows most Australian small businesses are either stagnating or declining.
• “These financial pressures have been exacerbated by the increasing regulatory burden being placed on SMEs, creating a perfect storm of financial and time pressure that business owners simply struggle to manage.
• “It’s reassuring to hear the Crisafulli Government address the challenges of the ageing population and specifically the importance of encouraging more young people to take over or create new businesses. 
• “We encourage the Crisafulli Government to place a stronger focus on supporting digital adoption among small businesses. Australian SMEs are falling well behind larger businesses and small businesses in Asia in terms of technology uptake. This gap is undermining their performance and competitiveness.
• “But state and territory governments can’t do it alone. It’s crucial for the federal government and state governments to work together to address the challenges being faced by businesses, including how to ease tax and regulatory burdens and provide greater relief and incentives through targeted policies.”