Angie Bell MP holds Small Business Roundtable to discuss Budget impacts

Today, Federal Member for Moncrieff, Angie Bell MP, brought together small business

owners, Chambers of Commerce and community leaders from across the Gold Coast to

discuss the impact of Labor’s recent Federal Budget on the local business community.

Held at Ms Bell’s electorate office, the roundtable provided an opportunity for business

representatives to share firsthand the challenges facing small businesses and the growing

concerns surrounding Labor’s economic policies.

The Gold Coast is the small business capital of Australia, with small and family businesses

forming the backbone of our local economy and employing tens of thousands of local

workers. Nationally, more than 95 per cent of businesses are classified as small or medium

enterprises, underscoring the critical role small business plays in driving jobs, growth and

opportunity across the country.

Participants at the roundtable highlighted rising operating costs, increasing regulatory

burdens and uncertainty surrounding the Government’s proposed tax changes as key concerns

for local businesses.

Ms Bell said small business owners continue to make enormous sacrifices to keep their doors

open and employ local workers.

“Small business owners are the people who take risks, invest their savings, work long hours

and sacrifice their time to build businesses that support our local economy,” Ms Bell said.

“They carry the responsibility of paying staff, meeting supplier costs and navigating

increasingly difficult economic conditions. Those sacrifices deserve recognition and reward –

not additional barriers and higher taxes.”

Discussion at the roundtable focused on Labor’s proposed changes to capital gains tax

arrangements and trusts, which many business owners fear could discourage investment and

undermine entrepreneurship.

Ms Bell said the Coalition remained deeply concerned about policies that penalise aspiration

and investment.”If you take the risk, create jobs and contribute to our community, you should be rewarded

for your success,” Ms Bell said.

“Government was not there taking the financial risk alongside you, so it should not seek a

greater share of the reward.”

The roundtable also heard concerns about the impact these changes could have on the Gold

Coast’s thriving startup and entrepreneurial ecosystem.

President of the Gold Coast Junior Chamber of Commerce, Alex Faulkner, warned the

changes risk discouraging the next generation of entrepreneurs.

“The federal budget handed down is disappointing in the eyes of young aspiring Gold

Coasters. We have heard the negative outcry from many who are building wealth through

investing on how they will be affected,” Mr Faulker said.

“Young Gold Coast entrepreneurs are disincentivised too, and once these changes have been

legislated, many may move away, or start their businesses overseas, which is not great for the

future of the Australian economy.”

Ms Bell said the Coalition has a clear plan to back small business and drive economic

growth.

“The Coalition believes the best way to strengthen our economy is to back the people who

create jobs,” Ms Bell said.

“That is why we have committed to a permanent $50,000 Instant Asset Write-Off for

businesses with turnover under $10 million, giving businesses the certainty they need to

invest and grow.”

“When a tradie buys new tools, a café upgrades its kitchen, or a builder purchases a new ute,

it creates opportunities to expand, employ more staff and support apprentices.”

“Small businesses are the engine room of our economy. When small business grows,

Australia grows.”

Ms Bell said today’s roundtable reinforced the importance of listening directly to local

businesses and advocating for their interests in Canberra.

“As the Federal Member for Moncrieff, my role is to stand up for the businesses and

industries that drive our local economy,” Ms Bell said.

“I will continue to listen to our business community, fight policies that undermine aspiration

and enterprise, and advocate for measures that help Gold Coast businesses succeed.”