It is hoped that the small business sector will enjoy renewed priority and focus as it makes its return to federal cabinet, following last week’s leadership spill in Canberra.
Announcing his new ministry on Sunday, 26 August, new Prime Minister Scott Morrison revealed that small business would return to the cabinet as its own department, rather than a subdivision of treasury.
Heading it up will be former Jobs and Employment Minister Michaelia Cash.
My Business revealed last week amidst the political turmoil that this had been one of the key hopes of the small business sector, with COSBOA chief Peter Strong suggesting it would be “a good outcome” for SMEs.
Kate Carnell, the Australian Small Business and Family Enterprise Ombudsman (ASBFEO), was likewise pleased with the move.
“It’s great to have the small business portfolio back in cabinet and to have Michaelia Cash as the minister responsible,” she said.
“We [also] thank former Minister for Small and Family Business, the Workplace and Deregulation Craig Laundy for his enthusiasm and in-depth understanding of the sector. He has done a great job.
“We look forward to working with Minister Cash on small business policy and a range of important issues for small businesses and family enterprises.”
Ms Carnell suggested that Ms Cash and the government face several primary focus areas, specifically retaining and speeding up the tax rate cut to 25 per cent for SMEs, better shutting down phoenix activity, making Fair Work rules much easier for employers to navigate as well as the implementation of e-invoicing by government departments.
Adam Zuchetti is the editor of My Business, and has steered the publication’s editorial direction since early 2016.