EP#250 ~ Unpacking ASBFEO’s 14 Point Plan for Small and Family Business

Small Biz Matters: People, Policy, Purpose ~ Episode #250
Broadcast date: 29 Oct 2024
Host: Alexi Boyd, Small Business Advocate & Policy Advisor
Guests: The Hon Bruce Billson, the Australian Small Business and Family Enterprise Ombudsman

The Australian small business and family enterprise ombudsman has a plan. A 14 point plan. A guide. A list of recommendations to support small businesses to survive and thrive. Is it a comprehensive be-all-end-all or should it just be considered just a start?

Governments have traditionally had problems compartmentalising small business policy, shoehorning them into a single department, or support program.. The reality is every policy affects every small business in the country. So how do governments begin the process of understanding the impact and untangling regulation, making it easier to do business in Australia, and assist small businesses (32% of GDP) to grow flourish and help build their communities?

The Energising Enterprise report: 14 steps to boost Australia’s small and family businesses. What this report does is help to prioritise the governments thinking; it assists policy makers with deciding what’s most important, what’s critical right now and what can perhaps be considered down the track. The reality is small businesses need deregulation in every space but this is at least a coherent starting point at which to tackle the issue of the red tape for small businesses. It covers areas such as small business access to procurement, meaningful regulatory impact statements, tax offsets for startups, mandating low fees for payments, banning unfair trading practices, and Readily accessible and easily navigable central resource hub of ‘best of breed’ actionable information.

He’s got a plan, the man has a plan so let’s hear from the man, The Hon Bruce Billson.

The 14 Point Plkan -  Take us through ASBFEO’s Energising Enterprise report: 14 steps to boost Australia’s small and family businesses:

• Tax discount/offset scheme during the critical first three years.
• Right-sized regulation - For every Cabinet submission and new policy proposal include a regulatory impact statement
• Prime Minister’s Small Business Awards
• Federal Small Business and Codes List in the Federal Circuit and Family Court of Australia to give small businesses an affordable, effective and timely alternative to defend their own economic interest where fair trading protections and reasonable commercial conduct safeguards are infringed upon
• Procurement & compete for government contracts
• Mandatory for banks and other providers to charge the lowest fee
• Insurances - understandable, accessible and affordable
• Ban unfair trading/business practices that distort competition and harm small business
• Small Business Commissioner and Division within FWC for smaller employers
• Digital platform providers standardised procedure for dispute resolution
• A ‘Good Business Pays’ recognition and accreditation.
• Focus on business system and reg-tech solutions, information management (including cyber resilience, eInvoicing, data management, privacy duties and Consumer Data Right awareness, AI uses)
• Readily accessible and easily navigable central resource hub of ‘best of breed’ actionable information

Bruce Billson commenced his role as Australian Small Business and Family Enterprise Ombudsman (ASBFEO) in March 2021. The Ombudsman is an independent advocate for small and family businesses.

Bruce brings three decades of experience, knowledge, commitment and an understanding of the issues facing small business. Bruce was the Australian Government Cabinet Minister for Small Business from 2013-2015, a founding Director of Judo Bank and has held various board appointments, including the Franchise Council of Australia, Deakin University Business School and Australian Property Institute. He has also owned and operated a number of small businesses, and knows first-hand the joys and challenges this involves.

To find out more go to: https://www.asbfeo.gov.au