Small businesses see bureaucracy as a barrier to growth, according to results from a survey conducted by East and Partners on behalf of Westpac’s Business Bank.
More than 750 Australian micro to medium businesses participated in the research, which revealed the average small business spent 18 hours a week on administration tasks with New South Wales businesses topping the nation, spending an average of 20 hours a week.
Westpac spokesperson Peter Hanlon says larger companies tend to have automated systems but smaller businesses do not. “The smaller the business, the greater the time being spent on business administration tasks.”
Hanlon says the drawback was that businesses could miss profits and opportunities if occupied doing time-consuming administration.
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