The Australian Chamber of Commerce and Industry (ACCI), Australia's largest and most representative business organisation, has welcomed a Productivity Commission report aimed at improving SME viability.
The Productivity Commission’s report on regulatory engagement with small business is a positive initiative, says ACCI.
“Its findings should provide further support for the new government’s deregulation agenda – particularly relating to small business, ACCI said in a recent statement.
“While minimum effective regulation can meet legitimate economic and social objectives it is vital that it does so in a way that appropriately balances the costs of regulation against its potential benefits. It is clear from the report that this balance is not yet being achieved.”
The Productivity Commission report stresses that robust frameworks and regulator culture are crucial to improving regulatory effectiveness.
ACCI Chief Executive, Peter Anderson said: “At every level of government regulation is strangling small business.
“Bad regulation has a human cost for small business people – it is in the hundreds of hours slumped over government forms, thousands of dollars wasted, and jobs that could be created but aren’t.
“That’s why along with our members we ran the pre-election Small Business. Too Big to Ignore campaign this year.”
Mr Anderson said the campaign would continue to call on politicians of all political parties to work together to cut down red tape and “give small business a break.”
“We have already started working closely with the new government and relevant ministers to make this happen,” he said.