Location:
The Good Room, Seddon Deadly Sins. Order your cuppa on the GL tab and head up to the second floor.
Agenda:
1. What's coming up this month?
2. Challenge Topic -
Is "Red Tape" Suffocating Your Business?
Small business owners are currently spending nearly a full day every week—roughly 20% of their working life—on administrative compliance and paperwork.
Council of Small Business Organisations Australia (COSBOA) reports that navigating BAS, tax reporting, and complex wage awards costs the Australian economy an estimated $160 billion annually.
Small businesses account for around 2.6 million businesses across Australia and contribute approximately one-third of national GDP, operating in every sector of the economy.
As budgets are set to be handed out on 12 May, the peak body is now calling for a 25% reduction in red tape and a permanent increase to the $20,000 Instant Asset Write-Off, arguing that the current threshold is too low to support meaningful investment in essential tools like vehicles or machinery.
If the government successfully slashed your administrative burden by 25%, would you reinvest that extra day into growing the business, or is it more desperately needed for your own well-being and rest?
What part of the budget do you think will impact you the most?
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