Tracey Roberts (Pearce, Australian Labor Party) Share this | Hansard source

I rise today to address the critical issue of small businesses in Australia and the Albanese Labor government's unwavering commitment to their success. While we acknowledge the challenges faced by our small businesses, particularly in the wake of COVID-19, I must emphasise the remarkable resilience and entrepreneurial spirit that has emerged in these trying times.

To competently address the allegations made by the member for Casey, we must put the current situation into perspective. The Commonwealth Bank's recent research reveals an inspiring trend: since the pandemic began, one in three Australians has started or plans to start a small business. This entrepreneurial surge has been nothing short of remarkable, with new business entities increasing by 20 per cent in the 2022 financial year alone. When we consider insolvencies as a proportion of the overall number of businesses, which is growing significantly, they are not at historical heights. In fact, they are not even back to pre-pandemic levels.

I want to highlight the Albanese Labor government's comprehensive approach to supporting small businesses by demonstrating how this year's budget reflects our dedication, providing more than $640 million in practical and targeted support for small businesses. We have extended the $20,000 instant asset write-off until 30 June 2025, providing $290 million in tax relief to help business invest and grow. We are delivering a $325 energy bill relief rebate for eligible small businesses, as part of a $3.5 billion energy bill relief package. We are providing financial counselling and mental health support by committing $10.8 million to extend the Small Business Debt Helpline and the NewAccess for Small Business Owners program. We are investing $25.3 million to strengthen the Payment Times Reporting Scheme, ensuring fair and timely payments to small businesses. We are providing $2.6 million in dispute resolution support to the Australian Small Business and Family Enterprise Ombudsman to help resolve disputes. We are investing $34.5 million in cybersecurity initiatives, with programs like Cyber Wardens and the Small Business Cyber Resilience Service. We are funding 20,000 additional fee-free TAFE and VET places, focusing on skills and education in industries where small businesses are prevalent. We are expanding the National Tax Clinic Program, with five additional tax support clinics across the country, offering expert tax advice to small businesses. We are also allocating $3 million to implementing Franchising Code of Conduct reforms, improving protections for franchisees. These measures demonstrate the Albanese Labor government's ongoing commitment to the 2.5 million small businesses that collectively employ more than five million Australians and contribute over $500 million to our nation's economy every year.

The Albanese Labor government understands that small businesses are the engine room of our economy. We are not just helping them survive; we are positioning them to thrive in a post-pandemic world. Our policies are targeted at improving their long-term resilience and providing practical support for those facing challenges. The entrepreneurial boom we have witnessed is a testament to the Australian spirit. It is our job to nurture this spirit and provide the right environment for it to flourish. That is exactly what we are doing with our comprehensive support package. But the recovery isn't easy. The government is here to support small business every step of the way. We will help them adapt, innovate and succeed. Our commitment to this sector remains unwavering and we are confident that with the right support and policies Australian small business will continue to be the backbone of our economy for many, many years to come. The future of Australian small businesses is bright under the Albanese Labor government, which is dedicated to ensuring they have every opportunity to reach their full potential.

Debate adjourned.

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