COSBOA ranks the parties’ SMB policies ahead of the election

COSBOA ranks the parties’ SMB policies  ahead of the election

The Council of Small Business Organisations Australia (COSBOA), has released comparison findings on the policies proposed by the Coalition and the Australian Labor Party (ALP), affecting small businesses.

The policies were assessed based on areas considered to be of high importance to the small business community.

As part of the findings, COSBOA have graded policies of critical importance; three areas are considered highly critical for the future of the small business sector.

On the ‘Important Policy Areas’ for small business, the Coalition trails in one category (i.e. Climate and Energy), while the ALP trails in seven, with a further two areas having no policy coverage (i.e. Export Market Facilitations and Mental Health policies for small business owners) by the ALP.

Of the three areas deemed to be ‘highly critical’ (i.e. Wage Policy, Access to Finance and VET), the parties were deemed to be similar in two areas (i.e. Access to Finance and VET) however in the area of ‘Wage Policy’ the ALP policy was ranked as a ‘fail’.

You can see a summary of the comparison between the policies and how COSBOA ranks them in relation to the needs and wants of members below.

Comparison of small business policies between the major parties

 

COSBOA policy area

COSBOA “Importance Weighting” (1 to 3)

with 1 being “highly critical

Policy Scores

Coalition Score

ALP score

  1. Taxation policy and processes

3

69%

69%

  1. Red Tape

2

60%

40%

  1. Late payment

2

75%

40%

  1. Competition, Contracts and Justice

2

65%

41%

  1. Wage policy

1

65%

32%

  1. Energy (and Climate) policy

2

40%

50%

  1. NBN and infrastructure policy

2

65%

45%

  1. Digitisation and cyber security

2

70%

45%

  1. Access to finance

1

75%

65%

  1. Industry specific policies

3

70%

40%

  1. Vocational Education and training

1

75%

70%

  1. Export market facilitation

3

60%

0%

  1. Mental health policy

2

70%

0%

 

Peter Strong CEO of COSBOA  said the findings come as no surprise as COSBOA members have expressed deep concern about the wages policy proposed by Labor.

Strong said VET and energy also continue to rate highly as key areas of concern.

View the report in full here.

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