This budget has failed to address significant issues facing small businesses including rising energy costs, delays in payment times and the rollout of the NBN.
This is a budget which confirms that Malcolm Turnbull is a Prime Minister for the big end of town over those working hard to grow their business and create jobs.
Small business owners have consistently raised rising energy costs, inadequate broadband infrastructure and late or delayed payments as key priorities for them that they want addressed by Government.
While Labor welcomes the decision to extend the small business instant asset write off, we are disappointed that the Government has not acted to stimulate jobs growth or address the all-important issue of cash flow for businesses.
Waiting for payment for supplies or services delivered is debilitating for small businesses right across Australia. Regrettably, this Budget has made absolutely no effort to address the ‘payment terms’ problem exposed in the Australian Small Business and Family Enterprise Ombudsman recent report into the practice.
In order to compete in a global economy small businesses need access to high speed internet to grow their business and sell their products but this budget provided no solutions to Malcolm Turnbull’s own substandard National Broadband Network.
This inaction simply makes it inevitable that Australian small businesses will continue to struggle with one of the slowest and most expensive internet service in the developed world.
This budget also leaves small businesses to fend for themselves on increasing energy prices.
The total vacuum of leadership from Malcolm Turnbull on energy policy is having a real impact on small businesses and means even higher energy prices and uncertainty for small business operators, inhibiting their ability to grow and employ.
Wholesale power prices have doubled under this government and will continue to rise unless Malcolm Turnbull develops a real national energy policy.
This Budget was an opportunity for Malcolm Turnbull to prioritise small business over his best friends at the big end of town but yet again he has failed.
TUESDAY, 9 MAY 2017