Three quarters of businesses believe reducing the company tax rate should be among the top three priorities for the May 12 federal budget.
That's according to Australian Industry Group, which says business also wants to see increased infrastructure spending and a balanced budget in five years.
"There is no doubt that a degree of fiscal stimulus is appropriate at this time," Ai Group chief executive Innes Willox said on Monday releasing a survey of industry's budget desires.
He said economic growth is below its long term trend, national income is flat, the pace of employment growth is sluggish and unemployment is too high.
Focusing the stimulus on removing the tax barriers to business investment and raising investment in infrastructure would address a fundamental source of weakness in the economy and would help raise productivity and employment, he says.
While the Abbott government has ruled out a company tax rate cut for all businesses, it has said it is looking at alternative ways to boost business investment.
It is still not clear whether Treasurer Joe Hockey's second budget will include a 1.5 per cent cut in the corporate tax rate for small firms as part of a small business package, although the government has indicated it is looking at other business tax concessions.
Other business groups are concerned that a two-tier company tax system would just add complexity.
Mr Willox said over half of businesses want to see a balanced budget in five years time.
"Business recognises the importance of taking action in this budget towards the vital task of fiscal fortification," he said.
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