2013 WA State Election: MYOB CEO shares with government top pressures for local SMEs

Ahead of the Western Australian state election, new research by Australia’s largest accounting software provider, MYOB, reveals the biggest concern of local small to medium business operators (SMEs) is rising fuel prices, closely followed by competitive activity.

CEO Tim Reed says, “As the election nears, candidates for the state government should be aware that SME operators in Western Australia anticipate they will face the most pressure this year from the cost of fuel. This is closely followed by the need to battle the business competition they come up against.”

“Given this, it’s no surprise that a hot topic for this election is improving public transportation infrastructure and services.

“We also found that around 40% of the WA SMEs we surveyed are intending to increase their investment in customer retention/acquisition strategies this year, which should help combat increasing competition.

“Despite the challenges they face, the economic confidence and overall business outlook of local operators is positive. 32% expect the economy to improve within one year, a figure that’s higher than the rest of the mainland states.

“In further positive news, almost two in every three respondents are seeing steady or rising revenue despite increasing talk of the mining sector slowing.”

Western Australians were also the least likely to report a revenue loss in the past 12 months (32%). 43% saw steady revenue. Both New South Wales and Victoria had the highest proportion who saw a revenue fall (40%), while South Australians were most likely to have steady revenue (45%). 

The top five pressure points Western Australian SMEs expect to face this year are:

1.       Fuel prices (71%) 

2.       Competitive activity (67%)

3.       Price margins & profitability (65%)

4.       Attracting new customers (65%)

5.       Cash flow (61%)

About the MYOB Business Monitor
Established in 2004, the MYOB Business Monitor is a national survey of small and medium business owners and managers, commissioned to independent market research firm Colmar Brunton. The most recent study ran in January and February 2013, surveying 1,005 operators from sole traders to mid-sized companies, representing the major industry sectors. The Monitor researches business performance and attitudes regarding areas such as profitability, cash flow, pipeline work, technology usage and the government. Note: the weighting of MYOB client and non-client respondents is reflective of overall market proportions.

About MYOB
Established in 1991, MYOB is now Australia’s largest business management solutions provider. It simplifies accounting, payroll, tax, CRM, websites, job costing, inventory management and much more for businesses of all ages, types and sizes. Over one million businesses in Australia and New Zealand have used one or more of MYOB’s 50+ products and services. Today, its solutions extend online, delivering innovation through cloud computing. This enables its clients to be more productive and make smarter connections with their staff, business partners, business advisors and customers. With a network of 20,000+ accountants, book keepers, certified consultants and other professional partners, MYOB provides support and tools that help make business life easier. Visit: http://myob.com.au/smarterconnections.