The Australian Small Business and Family Enterprise Ombudman recently revealed its agenda for 2018 which included a plan to increase small business opportunities for federal contracting dollars. Presented by Kate Carnell, former Chief Minister of the Australian Capital Territory and current Australian Small Business and Family Enterprise Ombudsman member, the opinion piece focused on small business payment, access to capital, and pushing through government red tape.
According to Carnell, “in Australia, about $100 billion is spent annually on procurement by federal, state and local government. The percentage of small businesses securing these contracts has been steadily declining over the past three years and we need to do something about that. It is really important that small businesses get their fair share of government work. We believe that 30 per cent of the total value of government procurement is a reasonable target, which is similar to the UK target.”
Carnell also mentions a Small Business Loans Inquiry last year that “heard cases that showed banks employed systematic poor and unreasonable behaviour to default some small business loans. The power imbalance meant small businesses were often denied access to justice.” Carnell and her team are looking to rectify this situation with the help of a report to be released by the middle of this year. The report will include an overview of the current small business status in Australian and recommend policy solutions to improve opportunities for owners.
An interesting step in the right direction for Australian small businesses and we at Supplierty News will keep you posted on any changes that come in the future. For other reports depicting the status of small and diverse businesses take a look at our INSIGHTS PAGE