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Explore Economic pain collides with regulatory changes for small businesses | The Business | ABC NEWS with 63,868 views, 254 likes, and 39 comments. Experience the impact of this video content that has captured audience attention.

Nearly two in five small businesses have reported a drop in revenue over the past twelve months, according to a new survey. The research from accounting firm MYOB shows firms are most worried about attracting new customers and 65 per cent are concerned about cash flow for the year ahead. It comes as the nation's entrepreneurs deal with a series of major changes to the business landscape ranging from the fallout from the surcharge ban to trust tax changes."It's just killing us, killing our industry," builder Steve Bright told The Business. He went into construction for the love of the trade, but running his own firm, a typical day at work now looks very different."Instead of getting out and building a house, we're spending more than half our time in an office doing paperwork," he said. Meanwhile credit reporting agency CreditorWatch found "serious arrears" hit an 8.5-year high in September. One in 10 invoices were more than 60 days overdue, which CreditorWatch chief executive Patrick Coghlan said was the highest level of "serious arrears" since April 2018. "Even though we're at almost record insolvency levels, the indicators that we're seeing show that that's likely to increase," he said.In a statement to the ABC, Small Business Minister Anne Aly said the government knows businesses have been managing rising costs and adjusting to changes, and took the challenges seriously. "That's why the Albanese Labor government is delivering billions in business tax relief," Dr Aly said, citing the $20,000 instant asset write-off being made permanent, and backing payment reforms, which the RBA has said will lower business costs by $910 million a year. #ABCBusiness Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2026-10-27/economic-pain-collides-with-regulatory-changes-small-business/107286660 Note: In most cases, our captions are auto-generated. #ABCNEWS #ABCNEWSAustralia

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