An Albanese Labor Government will deliver a better deal for small business, provide certainty to the small business community in times of crisis, ensure they are paid on time, and cut unnecessary red tape and transaction fees.

Small business is the backbone of the Australian economy and has been taken for granted by the Morrison Government for too long.

The COVID-19 pandemic, in addition to serious bushfires and now floods across large parts of Australia, has had a significant impact on small businesses across the country.

A lack of federal leadership has compounded the anxiety felt by small business owners, eroding confidence and certainty about the future.

Over the past six months, the states alongside small business have pleaded with Scott Morrison to provide additional support whilst facing ongoing crisis.

Labor will deliver a targeted plan to give small business the confidence they need coming out of the pandemic and recovering from bushfires and floods. It will also provide support for small business so they are no longer left in the lurch during in times of crisis.

Labor will not let small business suffer in the same way Scott Morrison and the Liberals have throughout the last six months and will make sure they never have to go it alone.

Labor’s better deal for small business will:

  • Guarantee that a Labor Government will consider the specific needs of small businesses in times of crisis giving the confidence and certainty to grow and plan for the future.
  • Ensure small businesses are paid on time to sustain growth across the economy with a mechanism to ensure payment within 30 days.
  • Drive a genuine collaboration with small businesses and government to reduce the time small businesses spend doing taxes.
  • Draw on Labor’s history of working with unions, workers and industry to deliver better outcomes with settings that are simpler, more accessible, and fair.
  • Reduce small business transaction costs at the point of payment with a clear timeline for implementing least cost routing. This could save businesses up to $804 million a year in merchant fees.

These measures are targeted at making it easier for small business to bounce back from the ongoing pandemic and recovering from the bushfires and floods which have ravaged parts of Australia.

These commitments from Labor complement our plans to:

  • Protect small businesses from scams, bringing together law enforcement, regulators, banks and telcos to share real-time data about emerging threats.
  • Open the door to more opportunities for small business procurement by using the purchasing power of government.
  • Support young entrepreneurs to start micro-businesses with a start-up year.
  • Tackle crippling small business skills shortages with Free TAFE, more university places and skills in schools.

Labor’s better deal for small business is our commitment to the 2.4 million small business and the millions working in them across Australia that Labor is the party of small business and has a plan for securing their economic growth and supporting aspiration.



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