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SME

Government support for small businesses

Reflecting the growing importance of the micro business sector, the Federal Government in 1996 established a Micro Business Reporting Group which had the responsibility of advising the Minister on policy options for the development of the micro business sector in Australia. The final report of this group was presented to the Minister in 1998, and highlighted a number of key issues. These include:

• giving micro businesses a positive status in society
• more favorable policies and programs for the improvement of micro businesses
• reforming the tax and other regulatory structures
• improving relationships between micro and large businesses
• enhancing the ability of micro businesses to access finance, improve management, and
• improving the capacity of micro businesses to access information technology.

While these issues may also be a concern for larger businesses, the report highlighted the important point that a lack of resources tended to increase their relevance for micro businesses.

Recent government initiatives have made life easier for micro businesses. In addition, the government has the opportunity, through its current focus on taxation reform, to reduce the administrative burden on micro business owners.