A new Sensis survey has found that business confidence in the ACT has sharply declined, with one in five businesses reporting being worried about the future.
In addition to falling sales, red tape was identified as a key contributor to the increased uncertainty.
Despite this, the survey found that the ACT Barr Government is perceived favourably by business owners, with Sensis Chief Executive John Allan stating that:
“Driving the result was a belief that infrastructure development in the ACT is helping to foster positive business conditions.”
Mr. Allan also commented on the red tape issue, stating that:
“Excessive bureaucracy continues to be a key concern”.
This is consistent with the Sensis Business Index from June this year, which found that red tape was a major issue for businesses in almost all parts of the country.
Consistent reports of red tape hurting businesses should be heeded, and the IPA calls on Australian governments to eliminate onerous and unnecessary regulations which impede growth and prosperity.
By Michael Husek
