The latest Business NSW survey shows small businesses are being squeezed by rising costs, worker shortages and compliance pressures.
The survey shows that in NSW it is harder than ever to run a business, with –
- 97 per cent of businesses struggling to lift productivity.
- Rising costs identified by 65 per cent of respondents
- 42 per cent pointing to a lack of skilled labour, and
- 41 per cent saying regulatory demands were holding them back.
The Government’s Economic Reform Roundtable in August put productivity on the agenda, but business leaders say it delivered little more than talk.
Despite these warnings, the Minns Labor Government has doubled down on its decision to axe Business Connect. The Premier, Treasurer and Minister for Small Business have all refused to reconsider, even though Treasury’s independent review found the program delivered $1.50 back to the economy for every $1 invested, supporting more than 60,000 businesses and associated with creating over 40,000 jobs.
Instead of restoring this proven program, the Minns Labor Government found $7.9 million in June’s Budget to set up a shooter-dominated hunting authority in a deal with the Shooters, Fishers and Farmers Party.
NSW Opposition Leader Mark Speakman said this survey confirms what small business has been telling us.
“Costs are spiralling, pressures are at record levels, and people are stretched to breaking point – yet the Premier, Treasurer and Small Business Minister have doubled down on cutting a program that kept businesses alive and saved jobs.
“At the same time, they found millions for a hunting authority, demonstrating their priorities are all wrong,” Mr Speakman said.
Shadow Treasurer Damien Tudehope said the survey shows businesses are being squeezed by higher costs, worker shortages and red tape.
“At the very time businesses need help, the Premier, Treasurer and Small Business Minister have doubled down on cutting Business Connect.
“Instead of restoring a program proven to save jobs and support growth, Labor has found $7.9 million to fund a deal with the gun lobby,” Mr Tudehope said.
Shadow Minister for Small Business Tim James said Business Connect wasn’t theory; it was practical advice that delivered real results.
“Fewer closures, more jobs and stronger communities, yet NSW Labor axed it without another thought for a gun lobby deal.
“A NSW Liberals and Nationals Government will bring Business Connect back” Mr James said.
Shadow Minister for Jobs, Industry and Innovation Mark Coure said small businesses are drowning under costs and red tape, but the Premier, Treasurer and Small Business Minister have refused to act.
“Every thriving industry in NSW, from advanced manufacturing to local startups, depends on programs like Business Connect that create jobs and drive economic growth. Instead of backing local industry and job creation, Labor chose to fund political deals and leave businesses to fend for themselves,” Mr Coure said.