Findings from TEC quarterly Confidence Index Survey 

The majority of small to medium sized businesses expect ‘no significant impact’ from the repeal of the Carbon and Mining Tax, despite claims from government that scrapping the tax will ‘lower costs, boost growth and increase jobs’.

According to The Executive Connection’s (TEC’s) quarterly Confidence Index Survey, 52 percent of business owners did not expect the repeal of the tax to have significant impact on their business. Meanwhile, 28 percent of respondents expected ‘significant impact’ and 5 percent expected the effect to be ‘very significant’.

“This survey shows that the repeal of the Carbon Tax will not dramatically change the outlook for small to medium sized businesses,” Nikki Potter, CEO of The Executive Connection said.

“The effect of the carbon tax on SME’s is not as easy to quantify as a simple seven to nine percent reduction in gas and electricity expenses and consumers should not count on a huge windfall in savings.

“The administrative costs and other additional complications associated with scrapping the tax mean that most of our members do not expect to see a significant cost saving in 2014,” she said.

“However, medium sized businesses are more likely to expect a very significant impact from the Carbon Tax repeal (17 percent).

“Members in Queensland and South Australia predicted little affect from the tax repeal, with over 60 percent forecasting little change, compared to Victoria where 40 percent are hoping to see a significant impact.

“Although small businesses were in principle those heaviest hit by the carbon tax, 71 percent of our smaller business owners reported an improvement in business conditions in 2013,” Ms. Potter said.

Through its affiliation with Vistage International Inc., TEC members have access to over 15,000 business leaders and owners in 15 countries across the world.

The TEC Confidence Index can be accessed here: