SBDC e-news – November 2016 Superannuation

Who’s funding your life of leisure?

The SBDC, in partnership with Edith Cowan University and the University of WA, is conducting an extensive survey titled ‘My business – my retirement’ and is calling on WA’s small business owners to complete the confidential online questionnaire.

National research shows that more than half of Australia’s SME owners over 50 have no retirement plan, while a third are not contributing to superannuation.

Currently, 90 per cent of the population has PAYG as their primary savings strategy for superannuation, but this falls to 34 per cent for small business owners.

While there is plenty of information available for those contributing via PAYG it’s apparent that more research into the retirement intentions of small business owners is needed.

Through the survey, the SBDC is hoping to discover what’s hindering better retirement planning by SME owners, the impact of cultural influences on retirement plans and what assistance business owners need to prepare for retirement.

The online survey is open now and all small business owners in WA are encouraged to take part before 30 November, 2016.