Treasurer Scott Morrison and Prime Minister Malcolm Turnbull arrive to speak at a press conference in Sydney, Thursday, Aug. 4, 2016. Prime Minister Malcolm Turnbull will ask parliament to require the major banks to face a committee inquiry at least once a year.
Treasurer Scott Morrison and Prime Minister Malcolm Turnbull arrive to speak at a press conference in Sydney, Thursday, Aug. 4, 2016. Prime Minister Malcolm Turnbull will ask parliament to require the major banks to face a committee inquiry at least once a year. AAP Image - Mick Tsikas

Latest SME snapshot shows lacking confidence in Turnbull

  • 51% SMEs feel the return of the Turnbull government is positive for small business
  • 43% not confident the Turnbull Government will be able to pass planned legislation
  • 66% think the Coalition could do more for the average working Australian

ONLY one in four (27 per cent) of SMEs are confident that the government will be able to pass policies beneficial to them, according to the latest MYOB SME snapshot survey.

"The government needs to work quickly and effectively with the Labor Party and crossbenchers, to build confidence in the SME sector," MYOB Ceo Tim Reed said.

"Our research confirmed that many of the policies the government took to the election are popular with small business, but the close election outcome has raised fears that these policies won't see the light of day."

Around half of small businesses suggested that making the $20,000 instant asset tax write-off permanent and accelerate the company tax rate cut proposals for small business would address increased SME dissatisfaction in the Turnbull government

When asked about political campaigning, three quarters of SMEs (77 per cent) felt the Coalition's campaign had been impacted by  the oppositions claims about Medicare', however did not agree that the Coalition vote was boosted by Brexit (71 per cent either disagreed or were neutral). 

SMEs were divided as to whether the focus on a strong economy, jobs and growth resonated with voters (38 per cent agreed and 28 per cent disagreed with this statement); and that two-thirds of SMEs (66 per cent) felt the Coalition needed to do more for the average working Australian.

"We have to remember that while small business owners are looking for ways the government can eliminate operational pressures, they also support broader measures that benefit the average working Australian," Reed said.

"Our survey reinforces the view that while the small business segment is supportive of the Coalition government, to retain this support the onus is on the government to explain why their policies are good for average Australians.

"Small businesses appear to be waiting to see how the government works towards positive progress for the sector in the coming months, and business owners will be basing their assessments of the Coalition's capability on actions rather than promises."

  • 51% SMEs feel the return of the Turnbull government is positive for small business
  • 43% not confident the Turnbull Government will be able to pass planned legislation
  • 66% think the Coalition could do more for the average working Australian
  • 77% felt the Coalition's campaign had been impacted by 'Mediscare' however did not agree that the Coalition vote was boosted by Brexit (71% either disagreed or were neutral)
  • 52% of small businesses suggested making the $20,000 asset tax write-off permanent
  • 49% of small businesses suggested accelerating the company tax rate cut proposals for small business would be steps in the right direction


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