The show for those starting or running a one person business, hosted by Cec Busby. With over 100,000 members and stacks of resources, Flying Solo keeps you on track.
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The show for those starting or running a one person business, hosted by Cec Busby. With over 100,000 members and stacks of resources, Flying Solo keeps you on track.
Fair go for small business: Navigating red tape and rising costs
Flying Solo
33 minutes
4 months ago
Fair go for small business: Navigating red tape and rising costs
Cec Busby sits down with Luke Achterstraat, CEO of the Council of Small Business Organisations Australia (COSBOA), for a discussion about the current landscape for small businesses.
With a major decision from the Fair Work Commission to raise the minimum wage by 3.75% set to take effect, Cec and Luke unpack what this change—and a host of other pressing issues such as rising business costs, increasing red tape, late payments, and compliance burdens—means for small business owners.
Key topics
1. Current Challenges for Small Business
Rising costs: energy, rent, wages, insurance
Complex and increasing regulatory and compliance requirements
Eroded profitability and productivity due to these pressures
2. COSBOA’s Advocacy and Campaigns
“Fair Go for Business” campaign: proposed tax cut from 25% to 20%
Ongoing lobbying for less red tape and better policy
Engagement and strong support from the small business community
3. Digital and Operational Transformation
Push for small business digital adoption and use of AI
Need for government support in training and capability building
Programs like Cyber Wardens help improve cyber hygiene and digital skills
4. Support and Resources for Small Business Owners
Mental health initiatives (e.g. NewAccess for Small Business Owners)
Female Entrepreneurs Program and other support services
Open invitation for business owners and soloists to get involved with COSBOA
5. The Impact of Policy Decisions
Latest minimum wage increase and its cost implications
The challenge of passing on new costs to customers
The importance of linking wage growth to productivity
Timestamped overview
00:00 COSBOA Advocating for Australia's Small Businesses
06:09 Business and Regulatory Challenges
09:17 Small Business Red Tape Burden
12:20 Proposal Gains Strong Voter Support
14:39 "Tax Cuts Boost Small Business Growth"
19:21 "Government-Led Wage Increases Questioned"
20:42 Boosting Productivity Key to Wage Growth
23:12 "Regulatory Impact Assessment Importance"
26:29 AI Boosts Small Business Productivity
31:07 Supporting Small Business Initiatives
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Flying Solo
The show for those starting or running a one person business, hosted by Cec Busby. With over 100,000 members and stacks of resources, Flying Solo keeps you on track.
