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When will it end? SMEs squeezed harder as living costs rise

The simmering cost-of-living crisis in Australia is reaching a boiling point for small businesses, with an alarming 43% struggling to stay afloat. As Federal Parliament convenes in Canberra this Wednesday to tackle the issue, COSBOA CEO Luke Achterstraat has urged policymakers to prioritise fast and effective measures that ease the burden on this vital sector.

Achterstraat says “With 43% of small businesses not breaking even, he says that the Government can’t waste any time.”

Small businesses need quick, effective and fast policies that reduce the cost of doing business. They need energy relief, promotion of better competition and to start a conversation about payroll tax consistency across different jurisdictions. 

This crisis cannot be ignored. It’s time for policymakers to stop talking and start acting. The fate of thousands of small businesses, and the livelihoods they support, hangs in the balance. This Wednesday, parliamentarians have a critical opportunity to prove they understand the gravity of the situation and are ready to deliver real solutions for a sector crying out for help.

Listen to Oliver Gordon’s report here for the ABC.

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