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2015 THE VOICE OF SMEs

Dollars & Sense

FINANCIAL REVIEWDo you understand the Tax System?

An SMEs has a...

The smaller the business the more likely taxes might be confusing

11%

31% very easy to understand

37% neither easy nor hard to understand

18% very hard to understand

3% extremely hard to understand

extremely easy to understand

SMEs find business taxes:

SOURCES 1. Australian Bureau of Statistics 2. The Voice 2 Survey Micro: 1-4 employees Small: 4 – 19 employees Medium: 20 – 200 employees

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Think Ahead. Talk to Bentleys Today.

RIGHT ON THE MONEYMajority of businesses are happy with the current rate of GST

69% Say it’s ‘about right’

KNOWING YOUR BUSINESSThe data goes in but who understands what comes out?

out of 10 SMEs say the complexity of the tax system is the biggest hurdle to understanding it

3.5

6%

42% have a moderate knowledge of their own business taxes

34% have a slight knowledge

believe they have an extremely good understanding of their own business taxes

For every death of an SME there is a new one born

SURVIVAL OF THE FITTEST

chance of surviving your first business birthday (1)

chance of surviving to your second business birthday (1)

69% 81%

SMALL BY NAME ONLY

SMEs employ two-thirds of private sector workers in WA (1)

And contribute almost 50% to national GDP (1)

SMEs Contribution to the nation