Businesses are often reluctant to make big investments because they are afraid of missing out on new opportunities, said Chris Loughlin, chief executive officer of the Small Business Association of Australia.
“The biggest problem is we are getting people to believe that there is a shortage of small business and there isn’t.
There is a very high level of confidence that they will be able to access new jobs,” he said.
“Small businesses are under pressure to grow their business in the next three years.”
It’s very much a choice between spending a lot of money on infrastructure and putting the money towards hiring people.
“The problem is not limited to the state and territory.
In March, Queensland’s new government announced a $2 billion investment in businesses that have more than 10 staff.
But, according to the Small Enterprise and Innovation Council, the government only spent $943 million on small business.
Business owners and managers have also said that they have to rely on private sector investment for a better return. “
A lot of small businesses don’t have access to the government-funded infrastructure they need to be competitive in the small and medium-sized business market,” Mr Loughlins said.
Business owners and managers have also said that they have to rely on private sector investment for a better return.
Business groups, however, have called for more support from the government.
Small business Australia’s chief executive, David Hill, has said small business is “the bedrock of our economy”.
“If we don’t do it right, we’re going to get out of business,” Mr Hill said.