15-February-2010
Goldstein Media Releases, The Economy
Bayside and Glen Eira small businesses are urged to make a submission to the Coalition proposed Senate Inquiry into Access of Small Business to Finance.
A recent survey undertaken for the Council of Small Business of Australia (COSBOA) confirmed that the cost and availability of finance is the top concern of small to medium Australian enterprise. The inquiry is designed to highlight these financing challenges face by our local small businesses.
“If small businesses are to play its part in driving economic recovery and jobs growth, timely access to finance on reasonable terms is an important precondition.
“The impact of the Labor Government’s bungled handling of the bank deposit guarantee on second-tier lenders is still being felt and has limited competition and choice for small business finance.
“I strongly encourage Bayside and Glen Eira small businesses to make submissions. If it is more convenient to submit any contribution, large or small, through me, I would be happy to assist,” Andrew Robb, Federal Member for Goldstein, said.
The inquiry will investigate the current circumstances of issues surrounding access of small businesses to finance, including:
- the costs, terms and conditions of finance and changes to lending policies and practices affecting small businesses;
- the importance of reasonable access to funding to support small business expansion and the sector’s contribution to employment growth and employment recovery;
- the state of competition in small business lending and the impact of the Government’s banking guarantees;
- opportunities and obstacles to other forms of financing, for example, equity to support small business ‘start ups’, liquidity, growth and expansion;
- policies, practices and strategies to enhance access to small business finance that exist in other countries; and
- any other related matters.
The Senate Economics Committee is seeking written submissions, from individuals and organisations. Submissions should be received by 31 March 2010. The Committee is to report on 30 June 2010.
Further details including how to make a submission to the inquiry can be found at: www.aph.gov.au/Senate/committee/economics_ctte/small_business_10/index.htm
Media contact: Skye Buttenshaw, 9557 4644