COSBOA is calling for a budget that embraces the principles required by 2.5 million small businesses in Australia, who are seeking logic, recognition and relief from pressures and constraints, and a Government with a pathway forward.
Submitting their pre-budget recommendations, COSBOA highlights the main challenges experienced by small businesses in the current post COVID-19 climate and nominates key areas for the 2023-24 budget from a small business perspective.
COSBOA has addressed 29 priorities raised by their members across a wide range of industries and policy areas, including:
· Ways to empower small businesses in the economy in 2023 and beyond
· Simplification and deregulation
· Streamlined and reduced cost migration processes to address worker shortages
· Education outcomes to enhance Australian workforce skills
· Increased tailored support, particularly with respect to mental health, advocacy,
advice and education
· Full implementation of the Modernising Business Registers program
· Short-term tax measures
· Programs to enhance, improve, protect and incentivise small business people to take initiative
· Support small businesses to safely engage in the digital economy through programs such as the COSBOA Cyber Wardens program
As a collaboration of peak organisations across a wide range of industries, COSBOA acknowledges small and medium sized enterprises (SMEs) are major contributors to the Australian economy. SMEs employ 68% of Australia’s workforce. In GDP terms, SMEs together contribute 56% of value added. Small and medium businesses are therefore key partners in rebuilding Australia’s economy as Australia emerges from the COVID-19 pandemic.
The COSBOA 2023-24 pre-budget submission articulates what is needed now and future programs to ensure the priorities of Australian small businesses are reflected in Government budget strategy and policies; small businesses need a greater level of tailored support measures and less administrative and regulatory pressures.
COSBOA continue to advocate for ongoing small business stakeholder consultation in relation to the 2023-24 budget.