CPA, Xero want budget support as small business sector falls behind Asia
Australia's small businesses are falling behind on digital adoption. The Albanese government has been asked to look at Singapore-style tech boosts.
One of the world's largest accounting bodies has warned Australia's small business sector is falling behind on digitisation due to excessive government bureaucracy and red tape.
CPA Australia's Asia Pacific Small Business Survey, which surveyed more than 4200 small businesses across the region, ranked Australia 10th out of 11 markets for small business growth and technology uptake.
The accounting group is due to formally launch the report in Parliament on Monday, a day ahead of the federal budget, in a bid to encourage the government to do more to help small businesses improve their productivity and profitability amid the challenges of higher costs and a sluggish economy.
CPA Australia business investment and international lead Gavan Ord said in a media statement that small businesses Australia have been “held back by insufficient government support for digital adoption and excessive red tape”.
