Fair go for small business: Navigating red tape and rising costs

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5M ago 33:58

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Cec Busby sits down with Luke Achterstraat, CEO of the Council of Small Business Organisations Australia (COSBOA), for a discussion about the current landscape for small businesses.

With a major decision from the Fair Work Commission to raise the minimum wage by 3.75% set to take effect, Cec and Luke unpack what this change—and a host of other pressing issues such as rising business costs, increasing red tape, late payments, and compliance burdens—means for small business owners.

Key topics

1. Current Challenges for Small Business

Rising costs: energy, rent, wages, insurance
Complex and increasing regulatory and compliance requirements
Eroded profitability and productivity due to these pressures
2. COSBOA’s Advocacy and Campaigns

“Fair Go for Business” campaign: proposed tax cut from 25% to 20%
Ongoing lobbying for less red tape and better policy
Engagement and strong support from the small business community
3. Digital and Operational Transformation

Push for small business digital adoption and use of AI
Need for government support in training and capability building
Programs like Cyber Wardens help improve cyber hygiene and digital skills
4. Support and Resources for Small Business Owners

Mental health initiatives (e.g. NewAccess for Small Business Owners)
Female Entrepreneurs Program and other support services
Open invitation for business owners and soloists to get involved with COSBOA
5. The Impact of Policy Decisions

Latest minimum wage increase and its cost implications
The challenge of passing on new costs to customers
The importance of linking wage growth to productivity

Timestamped overview

00:00 COSBOA Advocating for Australia's Small Businesses

06:09 Business and Regulatory Challenges

09:17 Small Business Red Tape Burden

12:20 Proposal Gains Strong Voter Support

14:39 "Tax Cuts Boost Small Business Growth"

19:21 "Government-Led Wage Increases Questioned"

20:42 Boosting Productivity Key to Wage Growth

23:12 "Regulatory Impact Assessment Importance"

26:29 AI Boosts Small Business Productivity

31:07 Supporting Small Business Initiatives

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