SMEs apprehensive about budget benefits

SmartCompany, 5 May 2017

A survey by SME software provider MYOB has found Australian small business owners are feeling apprehensive about the upcoming federal budget.

Forty-three percent of business owners surveyed revealed they were not confident the budget would deliver a positive outcome for small business, but nearly 50% disagreed a better outcome would occur under a Labor government.

As for areas of the budget small business owners are most concerned about, maintaining the $20,000 instant asset write-off policy, which due to finish in June, tops the list, followed by a lowering of the company tax rate. MYOB chief executive Tim Reed said in a statement the survey shows “trepidation” in the small business community in the face of the upcoming budget.

“Last year, Treasurer Scott Morrison said of small business: ‘they are the hope of the side’. This year’s budget presents an opportunity for the Government to back small business and cement their future in Australia,” Reed said.