Shadow Minister for Tourism, Manufacturing and Small Business Jann Stuckey said an Australian Bureau of Statistics report in January showed that 61,793 businesses shut down in Queensland in 2010-11, but other states and territories recorded an increase in the number of businesses.
"Hardworking business owners are struggling because the Bligh government has hurt their bottom lines with extra costs, more than 90,000 pages of regulations, and new taxes like the waste levy and there's more to come with the carbon tax," Ms Stuckey said.
"It's estimated that red tape costs business $7 billion."
Mr Nicholls said unlike Labor which has put all its eggs in the mining basket, the LNP will build a four pillar economy which will restore business confidence and opportunity in Queensland.
"The LNP's Economic Blueprint will give small and medium businesses certainty and help retain workers by cutting payroll tax and reducing red tape," he said.
"The LNP is also committed to cutting unemployment in Queensland to 4 per cent in six years."
The payroll tax cut means an additional 5,000 Queensland businesses will no longer pay tax at all and about 20,000 businesses will pay less tax.
The LNP policy will also create over 4,000 new jobs.
"We are sending a clear signal to business that we're on the side of job creation, cutting red tape and regulation, and getting government off their back," Mr Nicholls said.
"While Labor is trying to run away from its record, business knows they lost our AAA credit rating and racked up $85 billion in debt.
"Only a vote for a strong, united LNP Government will get Queensland back on track."
