Privately owned business owners have called on both Liberal and Labor in South Australia to deliver real economic reform that will boost the sector in the lead-up to the March State election, according to research conducted by leading advisory firm Perks.
A snapshot of sentiment among Privately owned businesses within Perks’ 3500 -strong client base has found that, while used to operating lean given the difficult economic conditions, companies are seeking sweeping changes from an incoming State Government that will reshape the business environment.
Perks Managing Director Mark Roderick said South Australian businesses were facing significant challenges on multiple fronts.
“They’re telling us they are hurting because of higher power prices, increased regulatory compliance, an inflexible local tax regime and difficulties in accessing capital,” he said.
“They know governments can’t fix everything, but they need relief now.”
South Australia’s respective political parties have an opportunity to act decisively and our clients are looking for leadership in this area.”
Perks is a leading local independent adviser to privately-owned business in South Australia, providing specialist accounting, tax, finance, personal insurance and wealth management advice to approximately 3500 private business owners and investors. Headquartered in Adelaide, Perks has 140 staff working across three offices in South Australia and the Northern Territory.
Mr Roderick said payroll tax was a common concern for clients.
“This State has some extraordinary businesses and great opportunities. But we need to do much more and provide business with incentives,” he said.
“South Australia built a reputation around breaking from tradition and setting the standard for the rest of the country to follow.
We can – and should – break ranks in terms of our taxation system and attract more businesses, as well as support those businesses that have been loyal to this State.”
We should be talking about introducing a sliding scale of payroll tax that offers incentives to employers who grow and add staff. The current regime penalises growth – the larger you grow the more you pay, and that is a major disincentive for business.”
Mr Roderick said business owners in South Australia were resilient and accommodated operating in a lean environment.
“They’re tenacious, smart and they work hard,” he said.
“But many of them are doing it tough and they’re telling us they want action now from the State’s political leaders.”
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