(16 April 2025 – Australia) The dramatic rise in swing voting SMEs is a headline finding from the 22nd edition of ScotPac’s bi-annual SME Growth Index Report, Australia’s most definitive pulse check of SME confidence and growth prospects.
A significant 1 in 5 SME owners and operators are undecided about which political party’s policies will best support their business (21 percent), more than double the 1 in 10 sitting on the fence before the 2022 election (10 percent).
“It is no surprise that more SMEs are torn over what to do at the ballot box than in 2022. Business owners have borne the brunt of inflationary pressures over the past three years, but they feel like they have been left in the political wilderness” stated ScotPac CEO Jon Sutton.
“SMEs have had to navigate the rising cost of living alongside huge increases in the cost of doing business. Wages, superannuation, insurance, and energy costs have surged at a greater rate than revenue growth for thousands of businesses.
“At the same time, the ATO commenced an aggressive program to recover outstanding tax debts. This combination of factors has depleted SME cash reserves and put enormous pressure on working capital.
“The message from SMEs ahead of the election on May 3 is clear – give us the support and space we need to keep employing and servicing millions of Australians,” Mr Sutton said.
Mr Sutton said while weighing up political promises against their bottom lines was a worthwhile exercise for SMEs, sitting down with their broker to talk about freeing up cash flow was a better use of their time.
“No matter who has the keys to the Lodge, ScotPac’s experts are on call to help brokers and business owners better manage their cash flow and free up funds for growth,” Mr Sutton said.