Why the heck do we do it?

In Australia, the regulatory market place is so intense that doing business is too hard. I had dinner with a couple last night who had indicated that they have been in business for 44 years. The requirements of compliance these days, outweigh the work they had to do when they first opened in
1985, tenfold.

Running a business these days, you need to be aware of;

  • Compliance that relates to your industry;
  • The skills that you need to exercise for people to pay for you;
  • Employee obligations under the Fair Work Act;
  • Work Health and Safety;
  • Payroll tax;
  • Income tax;
  • Business tax.

We could go on on saecula saeculorum. Now all businesses have been hit with a regime whereby September this year, all our payrolls will have to be uploaded into the Australian Taxation Office data. Big Brother is no longer looking over us, he is sitting right on our shoulder whispering into our ear. It won’t be long before he crawls into our brain and can hear and see what we think and do.

Some say it’s just to catch out the Centrelink cheats. Now, the Government will be able to compare your salary immediately with your Centrelink payments to see if your cheating the system. For those who are trying to trick the system, this is the time to stop.

So why do we do it? We are the tax collector, the compliance officer, the safety inspector, etc. There are so many requirements that making a profit is harder today then it ever has been before. So why do we do it?

I’ve asked myself this question many times. I return to a situation 7 years ago, that people indicated that I might be better off getting a job back within the Government. I liked being a public servant, so this was an inviting prospect, but I didn’t do it! Why? It is clear, those who run their own business do not like others as their boss.

People do business because they want to have control of their own destiny and not have to rely on others to ensure their income. Those of us in business know that we have to prove ourselves on a daily basis to keep a revenue flow. Those who work for others, only have to perform on a
sometimes basis to keep their job. With unfair dismissal laws, you can be an okay mediocre employee and that is enough. As a boss, we have to keep on performing and innovating to stay ahead of the race.

In short, we do it because we want to do it and don’t want anyone else to tell us. The thoughts of having a boss is just too hard a thought to bear. It’s funny, the more red tape the Government creates, the more we seem to cope with it. Businesses don’t stop, they just grin and bear it, get on with it and try and make a profit. Yes, it is harder, but you know what, it’s still bloody enjoyable.

This article was written by Bailey Compton, Principal Solicitor & Director at Leverage Group.

Get in touch with Bailey:

 ✉️ info@leveragegroup.com.au – ☎️ 1300 438 538