They are also asking Government for greater incentives to support investment in people and new technologies; additional R&D rebates and grants to business; lower corporate tax rates; so Australian businesses can become more competitive. The mid-market makes up 40 per cent of Australian business, but many enterprise clients feel that although the Federal Government recognizes their contribution, it doesn’t always support them. What SMEs need from Government is reassurance and action, particularly at a time when the implications of Brexit and the election of the Trump government fuel uncertainties even further.
Key Takeaways:
- Whether you’re a long-established family business or an entrepreneurial start-up, red tape is the number one concern.
- This would build confidence and stimulate growth in new markets and products for a more prosperous future.
- These tax savings over time will better enable small business to reinvest in people, training, technology and improved processes, which will enhance their global competitiveness.
“Cutting red tape tops the New Year’s wish list for Australia’s SMEs, according to research we recently conducted.”
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