JUNE 2010

The Toughest Tasks In Small Business

Tim Reed, MYOB Australia

Small business in Australia still faces plenty of challenges, a year after the Global Financial Crisis and while the national economy is outperforming many others. Tim Reed of MYOB Australia says their latest Small Business Survey shows that the increasing amount of government legislation and the compliance problems it creates are a major concern for business owners. Late payment, especially by large customers, is another issue, with many saying they fear they'll lose the work if they apply too much pressure. Poor office organisation can add to the problem, helping to make cash flow a continuing headache. Knowing what change is needed to promote growth is also a worry for many. Overall, Tim Reed says the survey shows that in some areas - construction, transport and retail among them - business confidence has slipped from where it was at the end of 2009.