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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