Business software provider MYOB hopes small business will be given the attention it deserves under a new minister for the portfolio, the fourth in four years.
Brendan O’Connor was sworn in to cabinet on Monday to take the position of small business minister, as well as minister for housing and homelessness.
MYOB chief executive Tim Reed says the small business sector needs strong leadership from the new minister as it faced turbulent times.
“We are concerned that the small business portfolio is not being given the serious attention it deserves,” Mr Reed said in a statement, noting that the sector accounts for 96 per cent of Australian businesses.
“This is far too large a segment to ignore.”
MYOB’s latest Business Monitor research found interest rates were one of the top three “pain points” for small- and medium-sized enterprises after fuel costs and price margins/profitability.