A report published by Telstra has shown that the shortage of skilled labour tops the concerns of small and medium businesses.

 

A poll of state and territory winners and finalists of the 2011 Telstra Business Awards show that almost one in five businesses listed skill shortages as their biggest concern, while increasing business costs, management of cash flow, increased competition and the surging Australia dollar were also presenting challenges for the sector.

 

More than 100 businesses participated in the poll, which shows:

  • Skills shortages is the biggest concern for 18 per cent of respondents, followed by higher business costs (16 per cent), cash flow (11 per cent), increased competition (9%), red tape (7%) and the higher Australian dollar (7%)
  • Forty-three per cent said lowering company taxes was the most important thing that the Federal Government could do to better support small and medium enterprises, followed by cutting red tape and compliance costs and elevating the Minister for Small Business to a Cabinet position (both 12 per cent);
  • One in five businesses said they would switch to cheaper energy sources and 23 per cent said they would use or introduce technology such as videoconferencing to minimise travel in response to emissions reduction measures; and
  • Fifty-three per cent believed business conditions will be better in the 2011-12 financial year compared to the year just ended, while 19 per cent said conditions would be worse and 22 per cent expected them to be the same.

 

A full list of the award finalists can be found here