The Albanese Labor Government has released Australia's first National Small Business Strategy, to make it easier for small business to operate, innovate and thrive.
The strategy lays out how different levels of government will work together to support Australia's nearly 2.6 million small businesses.
It is a commitment from Minister Collins and her State and Territory counterparts across Australia to drive a coordinated, collaborative and cohesive national approach to small business policies and supports.
The National Small Business Strategy aims to:
- elevate small businesses in government decision making;
- complement existing work within jurisdictions; and
- inform policy making to deliver better outcomes for small businesses.
At their meeting in June 2024, Small Business Ministers agreed better coordination was needed to support small businesses and to advance a National Strategy.
The National Small Business Strategy's development has involved close collaboration between the Commonwealth, state and territory governments, as well as key stakeholders.
Small businesses comprise around 97 per cent of all businesses in Australia.
They contribute approximately $590 billion to the economy annually, almost one‑third of the country's total GDP.
They employ around 5.4 million people, approximately 42 per cent of the private sector workforce.
The Albanese Labor Government is delivering $640 million in targeted supports for small businesses to ease pressure, support small businesses to grow, and level the playing field.
The National Small Business Strategy is available online at the Treasury website.
Quotes attributable to Minister for Small Business, the Hon Julie Collins MP
"An average of more than 5,700 new small businesses are created in Australia every week. That's thousands of Australians giving it a go and believing in their idea
"They provide jobs, deliver services, drive innovation and productivity, and help define communities and the Albanese Labor Government is committed to seeing them thrive.
"That's why the Albanese Labor Government has worked with states and territories to develop a new National Small Business Strategy.
"The Strategy is a collective vision for the small business sector and our shared commitment across tiers of government to work together.
"Labor is the party of small business, and this vital sector will remain at the heart of our decision making."
