Business NSW is calling for immediate government action to cut red tape, ease tax and insurance burdens, and accelerate practical cost-reduction programs following the Cost of Doing Business Summit held at Crowne Plaza Terrigal Pacific on Friday, August 29.
Business NSW Regional Director Scott Goold said the summit, delivered in partnership with Enel X and RSM Australia, was designed to translate policy into real savings for local operators.
“The Cost of Doing Business Summit was aimed at helping local business owners bring their costs down and navigate government red tape and tax obligations,” Goold said.
“Insurance has consistently been the number one cost pressure for Central Coast businesses for almost two years.
“Energy comes in at third and then we’ve got government taxes and regulations.”
Goold said Business NSW was pressing for reforms that delivered immediate relief and restored confidence.
“We need simpler, consistent procurement with one clear front door; targeted payroll-tax settings that unlock hiring and investment; fairer, faster insurance and workers’ comp processes and reform addressing out of control premium increases; and scaled programs that help SMEs cut energy bills now – through demand response and practical efficiency upgrades,” he said.
“Get these settings right and you turn policy into monthly savings on the P&L.”
Minister for the Central Coast and Member for Wyong David Harris welcomed the summit’s practical focus and the depth of engagement from local industry.
“If we can get these things right – get the balance right – then the whole community benefits if business has those pressures taken off them,” he said.
Harris said he would take the concerns raised by representatives of more than 100 local businesses at the summit to NSW Treasurer Daniel Mookhey.
The program brought national and state leaders together with specialist advisers and local industry to translate policy into practical steps for SMEs.
It was headlined by a discussion with ACCI Chief Executive Andrew McKellar and Business NSW Chief Executive Dan Hunter and included targeted segments on insurance and workers’ compensation, energy, tax and legal compliance, and local procurement.
There were information stalls from Enel X, RSM Australia, Zembl, Aubrey Brown Lawyers, Insurance Advisernet, iCare and EnergyCo.
“Confidence on the Coast has been resilient but is starting to strain,” Goold said.
“Reduce the paperwork, fix the friction in tenders, lift the payroll-tax threshold, and scale up practical cost-cutting programs – and businesses will get back to growing jobs on the Coast.”
Payroll tax is a scourge on society. Originally introduced as a temporary wartime measure to fund social welfare today it serves as nothing more than a form of general taxation, penalising job creation and innovation. Call it what it is; ‘a tax on job creators’.