The Council of Small Business Organisations Australia (COSBOA) has urged the Australian government to prioritise the needs and concerns of the country’s 2.5 million small businesses in the upcoming budget.
As the post-COVID-19 economic landscape continues to present challenges and constraints for small businesses, COSBOA calls for a budget that offers logical recognition and relief measures and a clear pathway forward.
In its pre-budget recommendations, COSBOA has identified the main challenges faced by small businesses in the current climate and has suggested key areas that should be prioritised in the 2023-24 budget. By highlighting small businesses’ unique perspective and experiences, COSBOA aims to help the government create policies and initiatives that better support this vital sector of the economy.
The Council of Small Business Organisations Australia (COSBOA) has actively addressed the concerns and priorities of its members by focusing on 29 different issues across various industries and policy areas.
One of the key priorities for COSBOA is to empower small businesses in the economy in 2023 and beyond. This involves creating an environment where small businesses can thrive and contribute to the economy’s overall growth. COSBOA has also emphasised the importance of simplification and deregulation, which can help reduce the burden of compliance on small businesses.
Streamlined and reduced cost migration processes
In addition, COSBOA has focused on addressing worker shortages by streamlining and reducing the cost of migration processes. This is important to ensure that small businesses have access to a skilled workforce and can continue to operate and grow.
Education outcomes to enhance Australian workforce skills
COSBOA has also recognised the need to enhance Australian workforce skills and education outcomes, which can help small businesses remain competitive in the global market.
Mental health, advocacy, advice and education
COSBOA has emphasised the importance of providing tailored support to small businesses, particularly with respect to mental health, advocacy, advice, and education. This is essential to help small businesses overcome their various challenges and reach their full potential.
Modernising business registers program
COSBOA has also emphasised the need to fully implement the Modernising Business Registers program, which aims to simplify business registration and improve the accuracy and availability of business information.
Short-term tax measures
COSBOA has also proposed short-term tax measures to support small businesses and programs that can enhance, improve, protect, and incentivise small business people to take the initiative. This can include providing support for innovation and encouraging small businesses to adopt new technologies.
Support small businesses
Finally, COSBOA has recognised the need to support small businesses to safely engage in the digital economy through programs such as the COSBOA Cyber Wardens program. This program provides training and resources to help small businesses protect their data and assets in the digital realm, which is essential in today’s increasingly interconnected world.
Overall, COSBOA’s efforts are aimed at supporting small businesses and helping them overcome the various challenges they face, both in the short and long term.
“As a collaboration of peak organisations across a wide range of industries, COSBOA acknowledges small and medium sized enterprises (SMEs) are major contributors to the Australian economy. SMEs employ 68 per cent of Australia’s workforce,” COSBOA said.
“In GDP terms, SMEs together contribute 56 per cent of value added. Therefore, small and medium businesses are key partners in rebuilding Australia’s economy as Australia emerges from the COVID-19 pandemic.
“The COSBOA 2023-24 pre-budget submission articulates what is needed now and future programs to ensure the priorities of Australian small businesses are reflected in Government budget strategy and policies; small businesses need a greater level of tailored support measures and less administrative and regulatory pressures.”
COSBOA 2023-24 Pre Budget Submission
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