50% of small businesses wary of looming federal election

MOZO | March 13, 2019

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A date is still yet to be announced, but the looming federal election - likely to be in May - is already having an impact on the decisions of Australian small businesses new research from Westpac has revealed.Westpac’s latest Small Business Report noted that two in five small businesses reported that the upcoming federal election is impacting their decision making, while 50% said that they were worried or uncertain about the impact the election would have on their operations.The report also outlined high energy costs, excess red tape and increasing government grants as being three of the top priorities Australian small businesses wish the federal government would address.“Our customers tell us that small business tax cuts, less regulation and red tape, and energy policy are a top priority in the upcoming election. The recently announced plans to fast track tax cuts for small business will offer some support; but more can be done to help particularly with grant funding,” said Ganesh Chandrasekkar, Westpac’s General Manager of SME Banking.

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