Coalition announces small business action plan

The Coalition has today announced a six point action plan for small business, in an effort to provide some much needed support for small business to equip them to lead the economic recovery.

The Coalition recently held 23 Jobs for Australia forums around the country, with many small business unhappy with the Rudd Government.

The small business action plan includes tax loss carryback, Superannuation Guarantee relief, OECD best practice regulatory burden, a one-stop-shop regulatory portal, Support for family businesses, along with Cabinet-level representation.

The Coalition is proposing to reduce on-costs for firms with 20 or fewer staff through a temporary reduction in the cash cost to small employers of the Superannuation Guarantee Contribution, with the Commonwealth paying a portion of their superannuation obligations for a period of two years – three percentage points this year, and 1.5 percentage points next year.

The Coalition is also proposing to provide more support to family businesses in relation to succession planning and family business professionalism.

Shadow Minister for Small Business Steven Ciobo, said the Coalition is committed to “ returning the smaller firms and entrepreneurs who drive our economy and create the bulk of new jobs to centre stage in the policy debate.”

Opposition Leader Malcolm Turnbull said that the Coalition plans to do more to help small business through tough times.

“The plan includes both proposals that offer a direct financial lifeline to struggling firms in difficult times, and moves to get government out of the way of the entrepreneurial sector of the economy,”

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