The Voice of SME's in WA: Showing you how to grow in 2015
05 March 2015
12 Kings Park Rd
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Small and medium businesses (SME's) are the cornerstone of Western Australia’s economy, serving as a hub for innovation, job creation, and consumer choice. Collectively they employ about two-thirds of private sector workers and contribute about half of the private sector national GDP. According to the Bureau of Statistics, Western Australia is at the national forefront of SME growth and employment, performing consistently above the national average.
Given its importance to our state’s economy and our continued sustainable growth, it is essential to maintain an ongoing analysis and thorough understanding of the current state of SME’s in our state and in our country as a whole.
To do this, Bentleys conducts The Voice of Australian Business survey. We are excited to release the results of the survey. Our survey asked SME owners and key decision makers in Australia about how they are faring in the current economic environment.
The survey covered the following major topics
Employment and business expansion
Current levels of business confidence
Implications of emerging Cloud technology
Taxes and possible changes to the GST
The impact of Foreign Investment
The survey results showed a direct correlation between the number of employees and higher business confidence. The survey also revealed a moderate outlook for future expansion and hiring, with only 4 out of 10 companies looking to create jobs.
SME’s continue to shoulder their fair share of hurdles, such as the lack of practical knowledge and understanding of the 'Cloud', and the complexities of the tax system. With 48% of small business owners confessing to only have a moderate knowledge of their business taxes.
In order to fully unleash West Australia’s economic growth potential, overcoming these barriers and other important issues must be a priority. For this reason, Bentleys and our Directors remain committed to keeping SME’s at the forefront of our business and their conversations.
Armed with the survey results we can advise and recommend strategies that will ensure our clients make the best decision to maximise their business success.
The Voice of Australian Business Survey for 2015 will equip you with the resources and provide valuable insight into the health of Australia SME community.
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