Returning Small Business Minister promises to tackle challenges faced by sector
Michaelia Cash has reiterated the government’s support for small and family business, promising to expand their access to finance and tackle a number of challenges they face.
The Morrison government has pledged to support Australia’s 3.4 million small and family businesses by lowering their taxes, helping them hire Australian workers, improve their cash flow, and access international export markets.
“As Minister for Employment, Skills, Small and Family Business, my focus is to ensure that Australians looking for work are given the appropriate support,” Ms Cash said in her first address since being reappointed Minister of Small and Family Business.
Ms Cash reiterated the government’s commitment to expand small and family business access to finance and to improve payment times.
She said the government will ensure small businesses get a fair go when dealing with larger businesses and the financial sector, reduce red tape and invest in the mental health of small and family business owners.
“I look forward to working with the Prime Minister and the re-elected Morrison government in achieving these goals,” said Ms Cash.
The PM earlier promised to create 250,000 new small and family businesses over the next five years, by providing $100 million in funding and partnering with financial institutions to create a small business investment fund.
The fund will aim to expand to $1 billion as it matures.
The Morrison government has also pledged to give small businesses a fairer go when dealing with larger businesses.
Reforms in this direction include reforms to competition policy, new unfair contract legislation, stronger enforcement and an advocacy voice in the Australian Small Business and Family Enterprise Ombudsman.