L-R: ARA CEO Paul Zahra, NRA interim CEO Lindsay Carroll and COSBOA CEO Luke Achterstraat. Source: SmartCompany
Key industry groups representing small businesses have expressed disappointment at the 3.75% award wage announced today by the Fair Work Commission, saying it will intensify pressure on struggling SMEs.
The Council of Small Business Organisations Australia (COSBOA) said today’s decision means more pressure for small businesses already weathering a perfect storm.
COSBOA CEO Luke Achterstraat said small businesses seek to provide rewarding, well-remunerated jobs but rising costs and sinking productivity puts businesses further at risk.
“The levy has broken for many small businesses with rising energy, rent, insurance and borrowing costs. This increase of 3.75% to wage costs when annual productivity is at 1.2%
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Fair Work Commission increases minimum wage by 3.75%
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