Small Business
How is this affecting our Region?
Small businesses employ 42% of our local workforce
Our region lost 230 skilled manufacturing businesses during previous policy trials
Local businesses spend an estimated $42,000 per year on compliance costs
120 small businesses closed last year due to unfair competition from dominant corporations
What can be done?
Introduce a superprofits tax on large corporations and closing loopholes that enable multinational tax avoidance
Reform regulations to increase corporate competition and prevent monopolies from limiting consumer choice
Support a meaningful increase in investment and incentives for renewable energy, which would reduce energy costs for businesses
What would it look like for us?
Our region would see 1,200 new jobs created through small business growth and expansion, while small business compliance costs would be reduced by 35%, saving local businesses $14.7 million annually.
Connection of 95% of local businesses to high-speed digital infrastructure would be achieved within three years, supported by the establishment of three Digital Skills Hubs providing training to 2,500 local businesses annually.
The small business failure rate would be reduced by 40% through improved cash flow management, and small businesses' share of government contracts would increase by $50 million annually.
Cybersecurity protections would be implemented for 1,500 local businesses within two years, and a local manufacturing innovation hub would be developed, supporting 150 businesses.
These initiatives would strengthen our region's economic backbone, creating a more resilient and competitive business environment that supports local employment and innovation.
