MONDAY 2 NOVEMBER 2026 - Victoria's self-employed and small business owners are more concerned about state debt than any other group of voters, with more than 9 in 10 saying it matters to them ahead of the state election.
Research* commissioned by independent advocate AMPLIFY has found 93% of self-employed Victorians consider debt and deficit an important issue, including 72% who rate it very important, compared with 79% and 52% of all Victorians respectively.
Almost 9 in 10 (88%) self-employed Victorians expect the state's debt to have an impact on them personally, well above the 71% of all Victorians, while 85% also believe it will hit small business.
More than half (53%) of self-employed Victorians feel very frustrated about the state of Victoria's finances.
Almost three-quarters (74%) of self-employed Victorians believed that Victorians like them pay the highest taxes in the country already because of the debt, and when asked what the state is missing out on because of its interest bill, significantly lower taxes and charges topped their list.
Fewer than 1 in 5 (19%) saw higher taxes and charges as an acceptable way to fix the budget.
It comes as Victoria’s small business sector is already under strain. Australian Securities and Investments Commission data shows 4,100 Victorian companies became insolvent in 2025-26, more than 11 every day and up more than 40% from 2,863 just two years earlier.
AMPLIFY Executive Director Martin Codina said with Victoria's debt approaching $200 billion, interest costing $24 million a day and 1 in every 5 dollars of state tax now going on interest, small business owners are worried they’ll be left carrying the burden.
“Small business owners and the self-employed balance their books every day. If the numbers don't add up, they have to make tough decisions, because there’s no option to keep borrowing without consequences,” Mr Codina said.
“They’re the engine room of Victoria’s economy, creating jobs, taking risks and keeping local communities strong. Yet they’re also among those feeling the pressure most from Victoria’s growing debt burden.
“Small businesses already face rising costs, taxes, charges and red tape. They’re worried that as debt continues to climb, they’ll be asked to pay even more of the bill.
“Every dollar spent on interest is a dollar that can't be invested in the infrastructure, services and economic reforms that help businesses grow and create jobs.
“Victoria’s small businesses need a credible plan from the major parties to stop the debt spiral and restore confidence in the state’s economic future.”
*WOLF+SMITH independently surveyed a representative sample of 1,500 Victorian voters in September 2026.