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The Institute of Public Accountants has congratulated Michael McCormack as the newly appointed minister for small business and has urged the government to maintain its focus on small business.
IPA chief executive Andrew Conway said the IPA looks forward to working with Mr McCormack to ensure a focus on small business is maintained as small business is a critical sector for Australia’s economic well-being.
"We have long advocated for a strong, dedicated voice for small business within the Ministry. We are pleased that this will be the sole focus of the newly appointed minister,” said Mr Conway.
Mr Conway said the IPA recognises the efforts of Kelly O’Dwyer and the former small business cabinet minister, Bruce Billson, and we urge the government to maintain the focus on small business productivity as there is still much to be done.
“We need to see an acceleration of the momentum created by the former small business ministers,” he said.
"Our members live and breathe small business; more than two-thirds working in or with small business on a daily basis so we are well qualified to offer an opinion when it comes to small business.”
Mr Conway said the IPA is encouraging the introduction of policies to boost small business productivity including simplifying the regulatory environment, improving access to affordable finance, improving education and skills of the small business sector and seizing export opportunities and taking advantage of trade agreements.
The government he said should also be ensuring a level playing field through fair competition laws and building an innovation system to support small business growth.