Home topics news News News COSBOA push for policy adaptation that protects businesses affected by national disasters Momoko Metham January 16, 2020 The Council of Small Business Organisations Australia (COSBOA) has called for a focus on policy adaptation on national disasters to protect small business owners throughout the next decade. “The next decade must be about policy adaptation on key national issues,” said Peter Strong, CEO of COSBOA, following the devastating impact of the bushfires and drought on small businesses since the end of 2019. Small business owners in rural and regional Australia experienced prolonged drought that heavily reduced sales, local economic output and household incomes. Businesses affected by bushfires along the NSW South Coast, reported revenue falls of up to 60 per cent over the Christmas and New Year period compared with the same time last year. Westpac has further estimated that the bushfire crisis will cost Australia $5 billion in direct losses and cut 0.2 to 0.5 per cent from its economic growth. The small business sector has called on the Morrison government to push ahead with a plan to reduce the risks from disasters such as bushfires. The National Disaster Risk Reduction Framework was published in 2018, following a summit of more than 100 participants that included representatives from all levels of government, business and the community sector. It was developed on the basis that natural hazards are more frequent and intense with long term, complex impacts that leave people and assets vulnerable. The framework estimates an