The Small Business Association of Australia (SBAA) congratulates Malcolm Turnbull and his coalition on their return to government.
Due to their significant contribution to the Australian economy, we ask Prime Minister Turnbull and his team to place a strong focus on small to medium enterprises (SMEs).
“With this in mind, the Small Business Association of Australia’s Think Tank is developing the Small Business Act of Australia,” SBAA Founder and CEO Anne Nalder said.
“This Act will give policy makers and future governments guidance for best practice when formulating policies for SMEs,” Mrs Nalder explained.
Historically; Australia has never had an economic plan dedicated to SMEs nor have we faced serious global competition as we do now. Australia has always been very fortunate that it has always been lucky enough to have a strong resource based industry to bail us out such as sheep and mining.
Due to global competition, Australian small businesses need to present a more sophisticated approach but importantly SMEs need sound practical and consistent policies that will allow them compete internationally.
The United States of America and the European Union have a Small Business Act. These well-established economies use their Acts to provide guidelines for policy makers to cover areas such as finance and trade. One of the common elements between the USA and EU acts is the ‘Think Small’ principle where policy makers must consider the effects of the policy on small businesses when formulating policy.
“If Prime Minister Turnbull is to deliver his campaign promise of a strong economic plan for Australia to secure jobs and the future for Australian families, he must ensure to support SMEs as they are the single largest employer in the private sector of Australia,” Mrs Nalder said.
“I would like to see a greater emphasis placed on the higher end of manufacturing as this can generate jobs and develop skills for young people through apprenticeships and future generations. Smart countries make or grow things and find markets in need of these products.
“The idea behind the Small Business Act is to provide a plan not just at election time but long term,” Mrs Nalder said.