The big fight over small business is heating up in Canberra
Backing small business is hot right now. But the big corporates versus small enterprise fight might be the creation of politicians, not business owners.
Australia's 2.5-million strong small business sector has found itself in the middle of a political tussle for their backing.
Prime Minister Anthony Albanese and Opposition leader Peter Dutton both attended the Council of Small Business Organisations Australia’s national summit in Sydney this week pledging their support to mum-and-dad owners of SMEs. A grab bag of independent MPs also accepted an invitation to speak on a panel.
This was one of the biggest political turnouts in COSBOA’s nearly 50-year long history. It was so remarkable that even the lobby group’s CEO Luke Achterstraat, when introducing Chris Minns for a speech, joked how unusual it was for the NSW Premier not to be the highest profile guest of the day.
Corporate behemoths and their well-heeled CEOs are no longer the darlings of the political debate. The public has growing misgivings after ASX-listed giants financially and outspokenly backed the Yes campaign in the Voice referendum. And anger has been growing due to the perception of alleged price gouging from major businesses, such as the supermarkets, during the cost of living crisis.
