The Australian Small Business and Family Ombudsman has called for the government to cut the red tape surrounding registration requirements for small business.
Ombudsman Kate Carnell made the comments in a submission to the government’s consultation on Modernising Business Registers.
Technology has advanced significantly since the government established the business registry service but the systems have failed to keep pace.
Carnell suggested the best outcome of the consultation would be if registration could be constrained to a single form hosted by a single agency on a single website to update the multiple registries that exist.
“One of the issues facing small business is the compliance burden of having to meet regulatory requirements for registering and updating information on their business structure and governance”
“The compliance burden relates to cost, time, and complexity. This is particularly relevant if a company evolves from one structure to another over time,” Carnell said.
Carnell also suggested fees should be kept to a minimum and important business descriptors such as the size of an enterprise should be included with registration.
“This would help to inform understanding of business segments and assist policy development for market participants, regulators and governments,” Carnell said.
“We also believe that fees for registrations should be kept to the minimum required by an agency to affect the change.”