How prepared are you for retirement? How do you compare to your peers? To find out, Rest commissioned research into how well prepared small-to-medium enterprise (SME) owners are for retirement, and how this compares and contrasts to the attitudes of their employees.
Our research^ reveals that while Australian entrepreneurs* provide employment, income and financial security for 68%1 of Australians, they are typically less worried about their own financial security, with one in five SME businesses unable to support their owner’s livelihood and living expenses for more than a week in the event of their unplanned absence.
And because we know one of the most pressing concerns facing SME owners is their ability to attract and retain staff, we set out to find how SME owners and managers can utilise superannuation to help increase the employer value proposition.
1 Parliament of Australia – Statistical Snapshot: small business employment contribution and workplace
arrangements – 2 December 2015