political influences

• → Political change brings uncertainty to a business by altering policies and regulations, leading to economic instability and market volatility

  → Changes in taxation, trade agreements and labour laws can affect operations/profitability

  → Labour market reforms, social reforms, taxation and environmental management can also affect a business/company 
• CASE STUDY:

  GOVERNMENT BAN ON SINGLE-USE PLASTIC BAGS (YEAR 2022)

  → The government introduced a policy that any bag under 35 microns will be outlawed including compostable bags falling below the thickness threshold

  → Any business caught suppling these bags can face fines of between $11000 and $275000

  → It's estimated that more than 2.7 billion plastic items end up in waterways in NSW each year