Reins pulled on Australian businesses 8-56 13th March 2008

According to a business report issued by Grant Thornton, 58 percent of Australian businesses feel constrained by the skills shortage compared with just 37 percent of the global average. Only Thailand, at 68 percent, believes the skills shortage affects them more.

Other factors reining in growth was regulation and red tape, with 32 percent of Australian businesses surveyed indicating that bureaucracy affected expansion. Of regulation, 27 percent felt that employment laws have the biggest regulatory impact on growth, followed by environmental regulation (17 percent) and health and safety laws (10 percent).
 
Grant Thornton spokesperson Tony Markwell indicated that there was some concern about changes to WorkChoices that could be resolved. “Governments need to work more closely with business, and those organisations which understand the privately owned business sector, to identify their future needs and aim to address the regulatory issues ahead of the need, rather than constantly playing 'catch up'.”
 
The survey collected responses from 7,400 business owners across 34 countries.