Is Aus­tralia open for business?

Business First - - NEWS -

Dr John Hew­son said the next 18 months will be a tough time for small business and the com­mu­nity should be con­cerned about what will sus­tain Aus­tralia’s econ­omy past the min­ing boom.

Speak­ing at the 12th Na­tional Small Business Sum­mit, Dr Hew­son crit­i­cised the gov­ern­ment as lack­ing an over­all pol­icy that pro­vides a strong di­rec­tion for the coun­try or one that trans­lates the value of small busi­nesses into pol­icy.

“Small business are the largest em­ploy­ers and yet they face ma­jor dif­fi­cul­ties such as get­ting eq­uity in­vest­ment, se­cur­ing bank loans and deal­ing with business in­ter­est rates which are still too high com­pared to where the of­fi­cial in­ter­est rate sits.

“We’ve also lost a mas­sive op­por­tu­nity to build a lot of new busi­nesses in re­sponse to cli­mate change with the re­scind­ing of the car­bon tax.

“We keep get­ting told we are open for business, but what business? Where is the growth go­ing to come from after the min­ing boon?” asked Dr Hew­son.

Dr Hew­son be­lieves that gov­ern­ment has a unique op­por­tu­nity to make a dif­fer­ence to small busi­nesses through tax re­form.

“I be­lieve it is time that we have a ma­ture de­bate about struc­tural tax re­form so we can en­sure eq­uity and longevity in our tax­a­tion sys­tem.”

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