27 June 2017
Media Release - #2017086, 2017

Shop local on U.N. Small Business Day

AS the world celebrates small businesses on the inaugural United Nations’ Micro, Small and Medium Enterprises Day, Australia’s Small Business Minister Michael McCormack has urged communities to shop local.

“The United Nations has declared today Micro, Small and Medium Enterprises day, giving shoppers around the world the opportunity to celebrate the contribution of local small businesses across the globe,” Mr McCormack said.

“Here at home, the best way Australians can celebrate small business is by shopping local. Every additional dollar spent in a local community injects confidence and helps create local jobs.”

Mr McCormack said Australia’s small business sector makes a massive contribution to the economy.

“Australia’s 3.2 million small businesses employ around 5.6 million people, which is almost half the national workforce,” Mr McCormack said.

“Small business owners and operators take a risk and back themselves every day, which contributes around $380 billion annually to Australia’s economy.”

Cuts to the small business tax rate – to the lowest level in many decades – and an extension to the instant asset write-off programme helps small businesses grow, pursue new ideas and create more jobs.

“The Government understands that when small business is strong, so too is our economy. That’s why we have cut the small business tax rate to 27.5 per cent – the lowest level in many decades and extended the instant asset write-off programme for another year,” Mr McCormack said.

“By backing small businesses and partnering with Australians shopping local on the UN Micro, Small and Medium Enterprises Day, we can all celebrate the enormous contribution of Australia’s small business sector.

“We applaud Aussies in small business and Aussies who keep them strong by shopping local.”

More information on UN Micro, Small and Medium Enterprises Day is available from the United Nations website.