BUSINESSES MOST LIKELY TO FAIL IN NSW

BUSINESSES MOST LIKELY TO FAIL IN NSW

A disturbing, but not surprising, report released recently by the Australian Bureau of Statistics confirms the concerns I have long held and fought hard to rectify.

The report, titled The Counts of Australian Business, Including Entries and Exits found businesses face the least chance of survival in NSW than the entire nation.

It found NSW had the greatest fall in the number of businesses operating in any mainland state from 2007-2009.

These figures confirm what business owners around this region are telling me it's much harder to do business in NSW, it's more expensive and is ultimately costing the State jobs and investment.

Businesses in NSW face the toughest prospects overall, and especially those in cross border areas, with NSW reporting the lowest survival rate of new businesses in the nation.

We, on the Northern Rivers, are always at a disadvantage against our Queensland counterparts because of the differentiation in payroll tax, workers compensation premiums and lower stamp duties.

There should not be the cross border differentials causing the degree of disadvantage that exists.

It's no wonder many local businesses are packing up and heading north to operate from the Sunshine State.

Uncompetitive taxes and high regulation imposed by the Keneally Labor Government is leading to a lack of confidence by business owners to invest and employ staff.

I know of many local businesses experiencing this lack of confidence, together with a great deal of financial and emotional stress.

One Lismore company is sadly facing having to lay off up to a dozen staff due to excessive insurance premiums, payroll tax and stamp duties.

The flow-on affect such a move has, not only on that business, but on our wider community, is enormous.

There is hope however.

The NSW Liberals & Nationals are committed to make NSW the first place to do business.

We have committed to reduce red tape by 20 percent within our first term if elected, implementing a 'One On, Two Off' policy for regulation.

Our Jobs Action Plan will provide employers with the incentive they need to hire, with the first 100,000 jobs effectively payroll tax free.

By supporting business to create jobs and invest, the NSW Liberals & Nationals will start the change that's needed to make NSW number one again.

Lismore Contact Details:

Office: 55 Carrington Street  LISMORE
Postal: PO Box 52  LISMORE  NSW  2480
Telephone: 02 6621 3624
Facsimile: 02 6622 1403
Email: lismore@parliament.nsw.gov.au

Murwillumbah Contact Details:

Telephone: 02 6672 7577