Boat Loans Australia :: News
SHARE

Share this news item!

Small Biz Survival: Alarming Cost of Doing Business Down Under

Small Biz Survival: Alarming Cost of Doing Business Down Under

Small Biz Survival: Alarming Cost of Doing Business Down Under?w=400

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

In a striking revelation, nearly 1.25 million small businesses in Australia teeter on the brink of collapse as increasing living costs gnaw away their profit margins.
During a recent senate hearing on Australia's cost-of-living crisis, Council of Small Business Organisations Australia (COSBOA) director, Adele Sutton, spotlighted the precarious state of the nation’s small enterprises.

Addressing the hearing, chaired by Liberal senator Jane Hume, Ms. Sutton noted that 49 per cent of 2.5 million small businesses are either barely breaking even or running at a loss. She emphasized that when a business fails to break even, the burden primarily shifts onto the owner, often compelling them to dip into personal savings to keep operations afloat. The hearing included notable participants like Australian Restaurant and Cafe Association CEO Wes Lambert and Restaurant and Catering Australia CEO Suresh Manickam.

Sutton attributed this worrisome trend to an unpredictable mix of rising energy costs, burdensome regulatory frameworks, and intricate changes in industrial relations. Remarkably, she highlighted that wage growth has not proportionality matched productivity, fanning the flames of economic strain.

Offering further insights into the cost-of-living turmoil, Suresh Manickam pointed out that the crisis is predominantly driven by four elements: escalating energy prices, heightened interest rates, surging labor costs, and sluggish productivity. Manickam lamented that cafe and restaurant owners are particularly besieged by the government’s convoluted changes in industrial relations laws, resulting in what he described as "IR fatigue."

"These modifications are causing a fundamental and progressively adverse impact," Manickam conveyed, stressing the critical need for energy stability and government intervention to ensure an enduring, sustainable energy infrastructure. While business owners appreciated the government’s recent energy rebate, Manickam insisted that it provided minimal relief. "It’s not even a sugar hit," he remarked, suggesting that more substantial measures are necessary to alleviate the financial pressure on small businesses.

This transformative discussion was originally reported by NewsWire, where the pressing challenges confronting Australia's small business sector were brought to fore, demanding urgent attention and solutions.

Published:Saturday, 17th Aug 2024
Author: Paige Estritori

Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.

Share this news item:

Rate this article

0 Comments

No comments yet. Be the first to share your thoughts.

Finance News

New BIA President Points to a Growing Australian Boating Market
New BIA President Points to a Growing Australian Boating Market
18 Jun 2026: Paige Estritori
The Boating Industry Association has marked a significant leadership milestone, electing Tracy Souris as its new Board Chair and President on 12 May 2026. Souris becomes the first woman to lead the organisation since it was established in 1960, taking over from Adam Smith after his six years of service on the BIA Board. - read more
Vessev's Electric Hydrofoiling Vessels Set to Transform Swan River Transport
Vessev's Electric Hydrofoiling Vessels Set to Transform Swan River Transport
10 Jun 2026: Paige Estritori
New Zealand-based company Vessev is set to revolutionise water transport in Western Australia by introducing a fleet of electric hydrofoiling vessels on Perth's Swan River. In partnership with the ENAUTIC Group, Vessev aims to provide a sustainable and efficient solution to the region's transportation needs. - read more
ACCC Halts BRP's Sale of Telwater to Yamaha
ACCC Halts BRP's Sale of Telwater to Yamaha
10 Jun 2026: Paige Estritori
The Australian Competition and Consumer Commission (ACCC) has recently blocked the proposed sale of Telwater Pty Ltd., one of Australia's largest aluminium boat manufacturers, from BRP Inc. to Yamaha Motor Australia. This decision ensures that Telwater remains under BRP's ownership for the foreseeable future. - read more
ATSB Releases Preliminary Findings on RSV Nuyina Grounding
ATSB Releases Preliminary Findings on RSV Nuyina Grounding
03 Jun 2026: Paige Estritori
The Australian Transport Safety Bureau (ATSB) has released a preliminary report detailing the circumstances surrounding the grounding of the Australian Antarctic Division's research vessel, RSV Nuyina, off Heard Island on October 13, 2025. The incident occurred during drone survey operations near uncharted sea floor areas. - read more
WA Government Approves Cockatoo Island Aviation and Marine Hub
WA Government Approves Cockatoo Island Aviation and Marine Hub
03 Jun 2026: Paige Estritori
The Western Australian government has granted final approval for the construction of a $300 million aviation and marine hub on Cockatoo Island, located in the Buccaneer Archipelago, approximately 130 kilometres north of Derby. The project, spearheaded by privately owned company Crestlink, aims to establish a comprehensive logistics hub to service the offshore oil and gas industry. - read more
Ocius to Deliver Fleet of Bluebottle Uncrewed Surface Vessels
Ocius to Deliver Fleet of Bluebottle Uncrewed Surface Vessels
03 Jun 2026: Paige Estritori
The Australian Government has committed $176 million to acquire a fleet of Australian-designed and built Bluebottle uncrewed surface vessels (USVs) from Ocius Technology. This investment aims to bolster the Royal Australian Navy's undersea warfare capabilities by providing persistent, long-range intelligence, surveillance, and reconnaissance (ISR) operations. - read more


Boat Loans Articles

Boat Maintenance on a Budget: A Seasonal Checklist for Every Owner
Boat Maintenance on a Budget: A Seasonal Checklist for Every Owner
Owning a boat is a dream for many Australians, offering the freedom to explore our stunning coastlines and inland waterways. However, with that dream comes the reality of maintenance costs that can quickly add up if not carefully managed. Budget-friendly boat maintenance is key to ensuring you can enjoy your vessel without breaking the bank. - read more
Sea-Worthy Solutions: How to Compare Boat Insurance Providers in Australia
Sea-Worthy Solutions: How to Compare Boat Insurance Providers in Australia
Embarking on the journey to purchase a boat is an exhilarating milestone, bringing with it the promise of sun-soaked adventures and serene escapes on the water. Yet, beneath the waves of excitement, lies the crucial decision of selecting the right boat insurance provider in Australia—an aspect as pivotal as the vessel itself. Boat insurance not only safeguards your maritime investment against unforeseen incidents but also ensures that your nautical dreams stay afloat in turbulent times. - read more
7 Tips For Getting The Best Boat Loan
7 Tips For Getting The Best Boat Loan
Buying a boat is a relatively large financial outlay and most people need to finance their purchase. If you’re in the market for a boat and plan to apply for a boat loan, there are a few things you should know if you want to get the best deal available. Here are our 7 tips for getting the best boat loan. - read more
Navigating Boat Loans: How to Determine Your Financial Course
Navigating Boat Loans: How to Determine Your Financial Course
Have you ever imagined yourself steering through the sapphire waters, the wind in your hair and the sun on your face, aboard your very own boat? The dream of owning a boat is a passionate pursuit for many. Yet, before this vision becomes a reality, there is a significant financial journey ahead that requires careful navigation and thoughtful planning. - read more
Understanding Boat Insurance in Australia: A Guide for Buyers
Understanding Boat Insurance in Australia: A Guide for Buyers
Boating is a popular recreational activity in Australia, with over 85% of the population living within 50 km of the coast. However, boaters must consider the risks associated with being out on the water, including accidents, theft and damage to property. Insurance can help protect boat owners from these risks and provide peace of mind while navigating Australia's waters. - read more
From Dreams to Reality: Choosing the Right Boat Loan for First-Time Buyers
From Dreams to Reality: Choosing the Right Boat Loan for First-Time Buyers
Owning a boat is a dream for many Australians, offering an opportunity to explore the country's stunning waterways, enjoy recreational activities, and create lasting memories with family and friends. - read more


Start Here

START HERE.

Loan Amount:
Postcode:

All quotes are provided obligation-free by a participating broker from our national referral partner network. We respect your Privacy.


Quotes are offered free & without obligation. We respect your privacy.

Knowledgebase
Bridging Finance:
A short-term loan that covers a financial shortfall during time between the purchase of a new property and the sale of an old property.


Quick Links: | Boat Loan Finance | Boat Financing Options | Marine Finance | Boat Loan Rates | Boat Loan Calculator | Boat Loan Comparison | Boat Loan Lenders | Boat Loan Terms | Boat Loan Approval | Boat Loan Application | Boat Loan Interest Rates