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Easier pathway to small business loans a good thing


COSBOA is pleased to see that the coaltion policy proposal to support small business people who want to start or grow their business.

This policy has come from a report by the federal Small Business and Family Business Ombudsman office - see report.

Peter Strong, CEO of COSBOA, stated 'we have been calling for this type of fund for decades but have been resisted by two groups - those of the far left who don't understand small business and their importance to jobs and the economy; and those of the far right, the so called laissez-faire economists, who believe in survival of those with money and muscle not those with skills and vision. As much as the far left will always live in their failed ideological theories, the bigger problem is the text book economists who say let the market decide when they should be saying let's make sure the market can decide. This policy is about ensuring the market can be competitive and that innovation has a good chance of success.

Mr Strong added "this policy reflects reality. We know business folk who couldn't expand their businesses in Australia but received funding through support from the Canadian or British government to expand into those countries. Australia lost and they won. The laissez-faire economists won and common sense lost. This would fix some of the problems created by the "do nothing" centralised decision making policy dinosaurs of the past."


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