Cameron Caldwell (Fadden, Liberal National Party) Share this | Link to this | Hansard source

Today I rise to speak on an issue that hits close to home for many of us Gold Coasters, one that affects the very fabric of our communities and our economy—that is, small business. Small businesses are the lifeblood of our economy. The Gold Coast is the small business capital of Australia, so we understand this all too well in my electorate of Fadden. We love our local cafes that bring life to the community, the family-owned businesses that have served generations, the butcher or the baker that provide us with advice about what we should buy and how we should cook it. The goods and the relationships formed are all essential to our way of life and to the local economy. But under this Labor government, these businesses are at breaking point, struggling under the weight of policies and red tape that seem to disregard their contribution to our communities.

There are many examples of businesses that are struggling or have closed but I will use just one example: Black Hops Brewing at Biggera Waters, who I recently visited, are barely surviving. They have been through the wringer. First, they survived COVID but now supplier prices are going up, they pay a container tax on every can that leaves their door and of course the dreaded alcohol excise has just gone up and up and up. They have just come through administration. Let's hope that this time around they can make a go of it, if not for the owners of that business then for the 80 employees, the ones who take that pay packet home to their families, to feed them and house them.

In 2006, at the age of 26, I started my own small law practice and, believe me, as a small business owner, I remember all too well the struggle to meet payroll during the GFC that hit shortly after I opened. I remember paying everyone else's superannuation except my own. I understand what businesses are currently feeling. They are hurting. They are hurting because electricity prices have gone through the roof. They are hurting because inflation has seen the cost of goods supplied increased. They are hurting because of impossible-to-navigate industrial relations frameworks. They are hurting because interest rates on their home loans and their business loans have gone up.

Now economists are saying we are weathering the worst economic conditions since the 1990s, and we have seen an unprecedented number of business insolvencies in the past financial year, 2036 in Queensland alone. I heard a member opposite speaking earlier about how this was just a very small percentage of all small businesses. But let's just reflect on the fact that that was 2036 dreams shattered, hopes lost and probably a lot of money down the drain. These are real people whose dreams and livelihoods have been shattered.

The Albanese Labor government has presided over the highest number of business failures on record. This is not a reflection of the resilience of the Australian small business community. With the help of a strong coalition government, they showed grit and determination during a once-in-a-century pandemic as they adapted and overcame extraordinary challenges. During that time we had a coalition government that stood by them, providing the support they needed to navigate adversity. Fast forward to today and, under the Labor government, small businesses are being hung out to dry. In my electorate on the Gold Coast we are witnessing first-hand the impacts of policy failures, with local businesses closing their doors, businesses that have survived decades selling out, taking with them the vibrancy and character that not only define our community but also provide a livelihood for so many. Recently, new figures from the Australian Small Business and Family Enterprise Ombudsman show a 50 per cent increase in requests for help from distressed business owners. The number signals that there are deep cash-flow issues. Small businesses are trying to draw on their cash reserves to stay afloat, but, quite frankly, they just don't have them. Recent surveys reveal one in four have no cash reserves and 18 per cent have less than a month's worth of cash to meet their obligations. These are businesses on edge. These are businesses that are struggling because of the Labor government.