When it comes to growing and making a small or medium sized business into one that is prominent and prosperous, it is clear that there are also many roadblocks and barriers that keep many small enterprises from rising to up and growing. These red tapes and barriers can often present problems for small business owners, especially as they are looking to increase their reach among their target customers and widen their brand awareness to increase sales.
- SMEs, employers of more than two-thirds of Australia’s workforce, have named staffing regulations and excessive red tape as their main productivity constraints
- Scottish Pacific CEO Peter Langham said the September 2017 Index found that only 48 per cent of SMEs were predicting revenue to rise through to February 2018
- SME leaders have very clear ideas about the first problem they’d fix if they were Prime Minister, with one in four SMEs saying their first initiative would be streamlining BAS
“Productivity was most impacted by employment regulations (29 per cent), excessive red tape (23 per cent) and leave provisions (11 per cent).”