Luke Achterstraat, CEO of the Council of Small Business Organisations Australia (COSBOA), chats 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 Businesses
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Rising costs: energy, rent, wages, insurance
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Complex and increasing regulatory and compliance requirements
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Eroded profitability and productivity due to these pressures
2. COSBOA’s Advocacy and Campaigns
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“Fair Go for Business” campaign: proposed tax cut from 25% to 20%
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Ongoing lobbying for less red tape and better policy
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Engagement and strong support from the small business community
3. Digital and Operational Transformation
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Push for small business digital adoption and use of AI
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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
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Mental health initiatives (e.g. NewAccess for Small Business Owners)
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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
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Latest minimum wage increase and its cost implications
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The challenge of passing on new costs to customers
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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
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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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Listen now:
Presenter: Cec Busby
Sound: Matt Jackson
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