Role of Small Business in Australia’s Economic Recovery

Policy makers are looking for fresh ideas in Tax Reform as Australia faces its first economic recession in almost 30 years.

Big business is the future for many small businesses – whether the small business grows into one, or becomes an essential business partner.

Growth in local demand will be more important than tax cuts for small business. I’m sharing my thoughts on how an Imputed Tax Credit could be passed from Small Business to Large Enterprise in order to stimulate demand and create jobs domestically within small business.

The same mechanism could be used to drive policies and initiatives on important issues such as critical supplies and workplace equality.

I’d love to hear if this idea breaks any economic rules and if it garners any interest in the business community.

Small Businesses employ approximately 5 million people or 44% of the Australian workforce. How do you see Small Businesses assisting Australia’s economic recovery post-COVID19 pandemic?

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