According to a survey of 175 Australian firms conducted by the National Australia Bank in April and May, staff issues, cash flow, tax and compliance issues are among the key issues which concern business owners and managers.
George Frazis, executive general manager of Business and Private Banking at NAB revealed that of those questioned, 29% stated that staff problems, such as conflict between employees, and attracting and retaining the best staff were their main worry, with cash flow issues coming a close second at 27%.
“The next greatest concern is compliance and tax, especially the increasing amount of legislative and compliance obligations. Compliance concerned 12% of respondents with tax worrying 6%,” he went on to add.
Respondents also identified other concerns such as customer issues, interest rates, the economy, lack of time, risk management and succession planning as concerns that kept them awake at night.
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