It is a tough time to be in business in Australia, with macro and microeconomic factors assailing companies on all fronts. On the macro front, cyclical economic factors, such as the potential end to quantitative easing in the US, a potential slowdown in China and Europe's continued economic malaise – with the accompanying potential for political turmoil – are also important considerations.

Australia has kicked off 2015 with a soft economy – albeit one eyeing a growth rate that at about 2 per cent, would be considered booming in Europe – as the non-mining sector struggles to pick up the baton of driving investment. Exporters are once again dealing with a weaker Australian dollar. Business confidence remains fragile, and Deloitte Access Economics tips retail spending to increase by just 2.5 per cent in 2015, (excluding the impact of inflation), showing consumers aren't exactly jumping out of their skins, either. Weak customer demand and wage and cost pressures have business worried.