Extending unfair contract term protections to small businesses – legislation
COSBOA today acknowledged the announcement by the Federal Small Business, buy viagra Minister Kelly O’Dwyer, prostate to support changes to the Unfair Contract Legislation (UCT) recently passed with amendments by the Senate.
The decision will support the amendments to increase the thresholds for the UCT from $100k for contracts of one year to $300k and for longer periods to $1 million.
Peter Strong, try CEO of COSBOA, said today “This decision by the government will be received with joy by many, many small businesses who have been at the mercy of some appalling practices from a small number of big businesses. The fact that we need these changes shows that a destructive culture has developed in the largest landlords and particularly the largest retailers, which now must change. ”
COSBOA knows that over the years too many small business people have lost their houses and their health due to nothing more than the ability of unethical big business to take advantage of the optimism and trust that is a major trait of entrepreneurs.
Peter Strong added “There have also been specific sectors that needed this to counter the cultures that have developed over many years. In particular the Australian Newsagents Federation is to be congratulated for maintaining a strong considered fight for their members. This doesn’t protect small business it does however make big businesses more transparent and accountable.”
Congratulations to Kelly O’Dwyer whose first announcement as small business minister is welcome. Thanks.