SMEs welcome Policy for Small Business

SMEs all over Australia have been showing their support for a coalition government's Policy for Small Business, which was released on August 19.

Some of the perks the policy includes are lowering taxes, reducing "red and green tape" costs by approximately $1 billion, helping SMEs implement the paid parental leave scheme and protecting the rights of independent contractors.

Master Builders Australia said in an August 19 statement that this policy would "boost the confidence" of SMEs, especially in the construction sector.

Wilhelm Harnisch, chief executive officer of Master Builders, said that the measures covered in the policy would make it a whole lot easier for SMEs to "lift productivity and employ people".

He was particularly pleased with the coalition government's commitment to independent contractors, and encouraged their decision to engage more closely and deeply with SMEs.

Certified Practising Accountants (CPA) Australia has also welcomed the Policy for Small Business.

Alex Malley, chief executive officer of CPA Australia, said that SMEs are the "engine room of the Australian economy," but have been suffering acutely in recent years because of over-regulation and not enough confidence.

He explained that SMEs employ approximately 4.8 million people across the country, and contribute an impressive $300 billion to the economy each year.

"A boost for small business operators is good news for jobs and a fillip for the economy," he said.

SMEs are a valuable asset to the country. If you own an SME, you may want to consider taking out a business insurance to protect its future.

Elders Insurance provides a variety of cover options, including business vehicle insurance and business liability insurance, that can help ensure your SME is able to continue contributing to the economy even after experiencing a loss-causing event.

Talk to your local Elders Insurance agent today about your business insurance options.