03/06/2026
The viability of small businesses in Australia is under threat, with many facing an uncertain future. The reasons for this are multifaceted. To illustrate, tax returns and accounting fees alone amount to $6300. Furthermore, businesses with a turnover of $80k are facing tax bills of $12000. When factoring in rent, bills, supplies, and business insurance, the financial strain becomes apparent. As rent, power bills, and water bills continue to rise, the situation is becoming increasingly dire. How can small business owners hope to support their families when their enterprises are not generating significant profits? While many entrepreneurs are passionate about their work, the harsh reality is that seeking employment elsewhere may be a more viable option. This has already led to the closure of numerous small businesses.😞
