Queensland businesses need more than a sugar hit in State Budget
Today’s State Budget must be a budget for business.
The state’s peak business body is looking to the FY24 State Budget for a commitment to the business community on five critical priorities: business operating costs and complexities, infrastructure, workforce, sustainability and long-term legacy outcomes beyond the 2032 Olympics.
Business Chamber Queensland’s pre-budget submission and business budget priorities were formed using direct business feedback and insight.
“We have decades of data and we know what the business community needs to manage day-to-day and plan and invest long-term,” CEO Heidi Cooper said.
“The cost of living challenges seen around the kitchen table are the same cost challenges around business tables across the state.
“Businesses told us they wanted to see relief from high business operating costs and complexities, plus workforce support like attraction and retention now and into the future.
“We know businesses are already planning for the future and are looking for support to increase their business sustainability alongside smart infrastructure and commitment to long-term legacy outcomes beyond the 2032 Olympics.
“It’s why the FY24 State Budget must have businesses at the forefront, with support to manage now and plan for the future. These measures must be more than short-term business sugar hit, but also offer support to future-proof the state’s business community and growth potential.”
Ms Cooper said it was important the State Budget offered businesses the critical confidence they needed to make decisions, plan and invest.
“In particular, we know sustainable business is smart business. These businesses are realising market driven opportunities, responding to evolving consumer demand, meeting supply chain needs, are positioning competitively for government procurement, preparing for Olympics opportunities and meeting sustainability targets,” Ms Cooper said.
“More than two thirds of businesses we surveyed told us they wanted to see grants and incentives to adopt sustainable business practices in this budget.
“At the same time, our research also shows 35% of businesses had proactively implemented sustainable business practices in the last 12 months but another 52% identified sustainability barriers.
“To allow businesses to capitalise on the Climate Positive Olympics Games opportunity, and establish a globally competitive economy beyond 2032, targeted support is needed to address these barriers and support businesses on their sustainability journey.”
Ms Cooper said 37% of businesses wanted to see improved procurement opportunities reflected in budget, especially those in telecommunications, professional services and manufacturing industries.
“To secure the vision of improved business and economic conditions for Queensland over the next decade and beyond, business-focused strategic planning measures must start now,” Ms Cooper said.
“The 2023 Olympic and Paralympic Games represent an opportunity for a targeted effort to improving business procurement outcomes.
“It is essential this planning starts now, to build capability but also support business confidence in the Olympics.
“We’ll be looking closely at the State Budget when it’s delivered this afternoon for these important business investments.”
Eckersley Print Group Managing Director Tom Eckersley (pictured) said he was looking to the State Budget for support for high operating costs and labour challenges.
The family owned business, which has operated in Brisbane for more than 50 years, is part of the state’s business community which needs a commitment in this month’s State Budget to support them day-to-day and provide necessary confidence to plan and invest in the future of their business.
“High inflation at a business level translates to uncertainty and to high operating costs, including labour, which has affected profits and reduced confidence. Operating costs like freight, raw materials and electricity are all going up which has a flow on effect to reduced profits,” Mr Eckersley said.
“We need to work out how to do more with less and that translates into an operating environment where we have staff retention and attraction as key issues.
“Small and medium businesses are the engine room of the economy but to do that we need to increase productivity and upskill and retain staff all at the same time. In an environment where there is subdued confidence, business need help to do this.”
Eckersley Print Group Managing Director Tom Eckersley said he was looking to the State Budget for support for high operating costs and labour challenges.
The family owned business, which has operated in Brisbane for more than 50 years, is part of the state’s business community which needs a commitment in this month’s State Budget to support them day-to-day and provide necessary confidence to plan and invest in the future of their business.
“For a business high inflation in the economy, translates to uncertainty and to higher operating costs, including labour, which has an adverse effect on profits and reduces market confidence. Operating costs like freight, raw materials and electricity are all going up. Often business cannot recover these increased costs,” Mr Eckersley said.
“We need to work out how to do more with less and that translates into an operating environment where we have staff retention and attraction as key issues.
“Small and medium businesses are the engine room of the economy but to do that we need to increase productivity and upskill and retain staff all at the same time. In an environment where there is subdued confidence, business need help to do this.”
Mr Eckersley said next financial year the business planned to hire four apprentices and trainees.
“Finding and recruiting them and engaging them in the workforce is not easy in this environment. As a process that is challenging for small and medium businesses and something we need help to do,” he said.
“If we’re going to increase productivity and upskill staff we need to invest in technology. The challenge is we need the tech and the staff at the same time. We need to constantly drive and improve efficiencies in the business. At the forefront of improving productivity is investment. This is an ongoing challenge. It is not a one-off sugar hit.
“We need confidence to go forward and we’re in a landscape that doesn’t provide for that confidence. We have to push through that.”
State Budget FY24 business priorities
- Business friendly governments | Reducing operating costs and complexity, through deregulation and regulatory reform, addressing insurance affordability and availability, payroll tax reform, and digital advancement.
- Smart infrastructure | Building productivity and resilience through connectivity, by refocusing investment in transportation infrastructure, improving digital connectivity, transitioning to sustainable energy, and supporting resilience to extreme weather events.
- Skilled workforce | Supporting upskilling, emerging industries and markets, by incentivising upskilling and retraining, addressing labour and skills shortages statewide, and expanding existing workforce programs funding.
- Advancing sustainability | Developing and enhancing business practices for future sustainability, by supporting sustainable industries and business practices, expanding sustainable business programs, advancing the transition to sustainable energy, and boosting investment in sustainability research and development.
- Queensland beyond 2023 | Creating growth opportunities for businesses domestically and internationally and legacy outcomes, through small business procurement, Brisbane 2032 infrastructure, ensuring regional opportunities, and advancing international trade opportunities.
Editors note
Business Chamber Queensland puts business first.
For 155 years we have represented businesses of every industry, every size and in every part of the state.
We are the state chamber of commerce, a not-for-profit organisation, with a rich legacy of putting Queensland business first, providing practical support backed by innovative thinking and powerful advocacy.
We help businesses prosper by supporting, educating and empowering them to capitalise on the extraordinary opportunities on offer in Queensland - now and into the future.