The Coffee Commune 10 Point Policy Plan
10 changes we should demand Government consider URGENTLY to empower small business.
Small business owners are facing enormous challenges to stay in business! 98% of all business in Australia is classified as small. They employ nearly half of all Australian workers. They play a critical role in driving economic growth, job creation and fostering innovation. However, current challenges hinder their success, leading to stress and declining aspiration among the next generation of entrepreneurs.
But there is a solution. Here are 10 actionable solutions that government could implement at the stroke of a pen. So, what is stopping them? The facts of the matter are clear. An analysis of the key data shows that if government were to collaborate with industry bodies and implement targeted policies, we could create an environment conducive to success, encourage the growth of small business and ensure a brighter future for the entire economy.
- Re-think Student Visa Changes:
Recent student visa changes have damaged small business. Halving the amount of hours international students can work has led to uncertainty and economic stress, for both employers and students struggling to keep up with the cost of living. The government should work closely with industry bodies, independent of government funding, to explore ways to mitigate the effects of these changes. Collaborative efforts can help retain skilled workers and maintain economic stability.
- Adjusting Tax Brackets for Inflation:
Government should immediately consider easing the financial burden on small business owners by adjusting tax brackets for inflation over the past decade. This simple measure will provide relief and help businesses reinvest in growth and job creation.
- Proportionate License Fees and Permits:
Government must reassess license fees, permits, and other costs, ensuring that they are proportionate and relevant for small businesses compared to larger corporations. The one size fits all approach directly impacts the capacity of small business to generate a profit and, in many cases the ability of the owner to pay themselves a fair wage. Lowering these expenses will foster a more competitive business environment.
- Regulation on EFTPOS Payments:
Implementing regulations on the percentage charged to merchants for EFTPOS payments can protect small businesses from disproportionate transaction costs, promoting fair competition and improving profit margins.
- Investigating Electricity Prices:
A thorough investigation by government into rising electricity prices, particularly line costs, would not only uncover potential disparities, but it would also highlight why excessive inflation is taking a toll on small business. A shift to transparent pricing policies would immediately benefit small businesses and enhance overall market efficiency.
- Workforce Initiatives and Streamlined Sponsorship:
Government-led workforce initiatives can encourage dependents to re-enter the workforce, reducing unemployment rates and supporting businesses in recruiting skilled personnel. Additionally, streamlining the process to sponsor qualified individuals into the country will bolster industries facing skill shortages.
- Payroll Tax Incentives:
Shifting from penalizing payroll taxes to offering incentives would encourage small businesses to hire and retain employees. These incentives can stimulate job growth and alleviate financial pressures on businesses.
- Promoting Economic Recovery:
Government officials should actively promote the end of the pandemic to restore consumer confidence. This communication will encourage people to re-engage with businesses, fostering economic recovery.
- Tax Deductions for Entertainment:
Eliminating Fringe Benefits Tax (FBT) on entertainment expenses will enable small businesses to invest in client relations and employee engagement, supporting their growth and prosperity, with an immediate surge in income and sustainability for hospitality businesses.
- Enhancing Government Accountability:
Demanding accountability from elected officials, akin to a public company, will ensure effective governance and responsible decision-making. Transparent reporting and feedback mechanisms will foster trust between the government and small business owners.
The numbers speak for themselves: small businesses face significant challenges in the current landscape. However, with government support and collaboration with industry bodies, we can overcome these obstacles and create an environment where small businesses thrive. By implementing the proposed initiatives, outlined here, and encouraging entrepreneurship, we would immediately empower small business owners and secure a prosperous future for all.
It is time for government officials to act swiftly and decisively, supporting the backbone of our economy and driving sustainable growth.
IN YOUR WORDS
Sanremo Coffee Machines Australia