Small Business

Small and family-owned businesses form the backbone of the Australian economy, playing a vital role in supporting their local communities. Senator Kovacic, with over 20 years of experience running a financial services business, stands as a strong advocate for 97% of businesses across Australia that are struggling under the pressure of a faltering economy.

Recent data from ASIC reveals over 7,700 business foreclosures between July 2023 and March 2024, highlighting the urgent need for targeted support.

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These small businesses, whether local shops, community pharmacies, sole proprietors, or innovative startups working out of a founder's garage, are essential to job creation, economic growth, and community vitality. 

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Senator Kovacic is committed to protecting and empowering these enterprises by:

• Resisting Unnecessary Bureaucracy: Fighting against excessive regulatory burdens that create an uneven playing field and hinder market competition.
  

• Promoting Market Fairness: Introducing policies to ensure competitive markets, scrutinising institutional powers, and reducing red tape.
  

• Expanding Access to Funding: Advocating for accessible funding and tailored assistance, including expanded government and commercial procurement opportunities, especially for 100% female-owned businesses, which currently receive only 4% of venture capital funding.
  

• Flexible Business Practices: Opposing anti-small-business union agendas that attempt to restrict flexible arrangements and impose cost-heavy regulations.

The Coalition government is committed to standing up for the small business sector, helping it thrive, innovate, and continue to be a cornerstone of Australia’s economy and communities.

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