By the Sunshine Coast Daily
MORE than two in three Sunshine Coast small to medium enterprises will remember 2011 as a more challenging year than 2008’s GFC, but many believe 2012 will deliver better business conditions.
This revealing insight, and others, came from a Doing Business in Queensland survey of 507 SMEs conducted by Suncorp across Queensland but including local businesses.
Suncorp executive general manager David Marshall said despite both economic and weather challenges, many businesses appear to have turned a corner and were taking into account this new era of austerity when planning for the future.
“For the majority of regions, the federal government’s plans to increase compulsory superannuation contributions from 9% to 12% was a significant concern for survey respondents with 64% suggesting it would have a negative or very negative impact on their business,” executive GM David Carter said.
“While an increase in compulsory contributions means more Sunshine Coast residents will enjoy a comfortable retirement, I can empathise with the challenges it may create for the business community.
“Another major concern was cash flow and when you take into account external factors such as the proposed mining and carbon taxes, the high Aussie dollar and declining tourism numbers, it is no wonder SMEs are feeling the cash-flow pinch.
“Planning is key to conquering any change in circumstances and enlisting the help of an expert can help make the transition as smooth as possible.”
Mr Marshall said in a multi-speed economy such as Queensland’s it could sometimes be difficult to identify where the hot and cold spots were for SMEs.
“This is why surveying across a broad range of industries and regions throughout Queensland can reveal where help is needed or opportunities exist,” he said.
“SMEs are the lifeblood of many Queensland communities.”