As the employers of more than 8 million Australians, measures that support our small and mid-sized enterprises (SMEs) have far-reaching effects on the national economy and everyday life. The owners and operators of Australia’s 2.6+ million SMEs are heading to the polls this Saturday to make their voices heard.
MYOB's latest Bi-Annual Business Monitor survey of more than 1000 SMEs reveals 40% would vote for sector-specific spending to support small businesses through the current economic environment. Cashflow remains a critical concern, with utility costs topping the list of stressors for small business owners and operators.
What SMEs will be voting for:
Two of the three top initiatives small business owners and operators will vote for in Australia’s upcoming federal election are cashflow focused.
The top three policies SMEs would vote for are reducing the company tax rate to 20% for small businesses (66% of respondents), simplifying the GST and BAS reporting process (59% of respondents) and making the instant asset write off permanent (58% of respondents).
When asked which matters are causing them the most pressure, the top concerns include the cost of utilities such as electricity and gas (35%), fuel prices (33%), price margins and profitability (27%) and interest rates (25%).
Comments from Paul Robson, MYOB CEO:
“Small and mid-sized businesses together contribute more than half of Australia's GDP. Their vital economic role ultimately thrives on stability and predictability.
“A commitment to long-term, steady policies that provide the certainty needed for confident business planning and investment – which flows onto job security for millions of Australians – is what SME owners and operators are seeking this election.
“In this final week, all political parties should recognise the central role that small and mid-sized businesses play in our economy and ensure they communicate the policies that address their concerns. This isn't just about supporting business owners – it's about maintaining the right conditions for job creation, innovation, and economic growth that benefits all Australians.
“This election comes at a pivotal time for the SME community and the ongoing trajectory of the economy they contribute to so considerably. The outputs of this sector are significant and so ensuring an environment in which these owners and operators can effectively grow their business in 2025 and beyond is essential.”
About MYOB MYOB is a leading business management platform with a core purpose of helping more businesses in Australia and New Zealand start, survive and succeed. MYOB delivers end-to-end business, financial and accounting solutions direct to businesses employing between 0 and 1000 employees, alongside a network of accountants, bookkeepers and consultants. For more information visit myob.com or follow MYOB on LinkedIn.
For more information, please contact:
Collette Betts
Corporate Affairs Manager