COSBOA is pleased to see the focus on small business people from Opposition Leader Bill Shorten in his budget reply made in Parliament yesterday.
Peter Strong CEO of COSBOA, said today “we particularly note the idea of StartUp Finance which would provide financial assistance to start up business people. Importantly this scheme would assist the people that want to grow beyond small as they are the ones that have a bigger vision and would employ more people. Finance for those who wish to be their own boss and do not want to grow too big is also important as the more small business that exists the more people are employed and the better the economy.”
Mr Strong added “the proposed 5% tax break for small business is high quality policy that sends the right message. It is also good that Mr Shorten understands that this doesn’t create a two tiered tax system as a two tiered system exists already where big businesses can send profits offshore and can minimise tax whereas small business just has to pay it.”
COSBOA believes that engaging the Labor Party in small business issues improved under the Gillard Government but was still short in real policies and we have always been concerned about the real belief in our sector from within that party.
Mr Strong also added “these are excellent initiatives that talks to the small business person and shows that Mr Shorten and his advisers have been listening.”
Bill Shorten will be attending the Vodafone National Small Business Summit in July in Sydney where we will hear more of his proposals and his vision for small business people.