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‘It comes down to housing all the time’: NAB chief’s growth warning

The bank’s boss, Andrew Irvine, says access to talent is the biggest hurdle for SME growth. But our housing crisis isn’t helping. 

It’s the small business equivalent of chaos theory. A bureaucrat snaps their fingers, and somewhere an SME’s balance sheet shudders.

That’s what happened to Riaan de Beer, owner of a Brisbane-based business that makes the South African meat product, biltong. When new regulations were introduced requiring allergens to be listed on food labels in bold type, he quickly realised he needed a new printer, at a cost of $30,000. That’s on top of what he estimated to be a doubling of compliance costs over the past five years.

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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com

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    Original URL: https://www.afr.com/chanticleer/it-comes-down-to-housing-all-the-time-nab-chief-s-growth-warning-20241031-p5kmwx