- Small business is the lifeblood of the Australian economy, harnessing as it does, the energy, creativity and resourcefulness of many millions of people.
- Whereas big business is actively investing in technology to reduce its workforce, small business has enormous potential for employment growth.
- Over 90% of all businesses in Australia are small businesses with a vast number being sole traders and about one-third employing staff.
- Small business employs about a third of the entire Australian workforce and provides a vast range of goods and services on which we rely.
- Family First believes that reducing red tape for businesses is essential in enabling them to put their best efforts into producing the goods and services we need for both domestic and overseas markets.
- We believe that taxation arrangements for small business should be such that they provide reward for effort and encourage both the growth of small businesses and their opportunity to employ others.
- Family First opposes state payroll tax regimes as an inefficient tax on job creation.
- Family First believes that responsible Governments must maintain a AAA credit rating, keep public spending low and take whatever steps they can to constrain rises in interest rates so that small business can compete effectively in a global economy.
- Wherever possible, there must be opportunities for small businesses to enter markets. Legislative structures that effectively protect certain businesses in an industry from competition must be dismantled.
- Family First supports alternatives to small business and entrepreneurs securing labour and capital, including employee share schemes, crowd sourced equity funding and capital gains tax breaks that support new enterprises. It is acknowledged that these are short-term solutions to longer-term workplace regulation and tax reforms.
Articles of Interest
Obama vs. ATMs: Why Technology Doesn't Destroy Jobs
[Prof. Russell Roberts, The Wall St Journal]