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Small business productivity more important than ever - IPA
GLOBAL political unrest and change may place further strain on Australia’s economic position, according to the Institute of Public Accountants (IPA).
“Australia faces a tremendous economic challenge as we position ourselves in an increasingly competitive region,” said IPA chief executive officer, Andrew Conway speaking at the launch of the IPA Deakin SME Research Centre recently.
“The emergence of the Trump government in America comes with uncertainty over current and future free trade agreements which may impact on our international relationships with other countries.
“And I am sure that discussions around Brexit will shortly shift to ‘Brentry’; as in, which markets the UK will seek to enter.
“Australia is uniquely placed to influence trade and investment opportunities in new markets.
“Critical to this will be whether small business has the confidence to employ and to explore. Employing more people and exploring new markets will help ensure small business owners, their families and our communities are in a position to seize the growth potential.
“However, this cannot happen with a blind expectation that government has the capacity to solve these problems and lay these policy foundations in isolation.
“Our stagnating productivity growth as a nation threatens our quality of life. One of the critical levers that government and industry must acknowledge and trigger is to unleash productive capabilities of small business.
“Our job is to think big and back that up with reasoned and sound evidence and that is the role of our SME research centre
“However, research is not an end in itself; it is an enabler. Research is about building a seminal body of evidence to support a proposition. Our proposition is how do we turn Australia into the best place in the world to start, run and grow a small business?
“Our vision for the research centre is that it becomes the credible voice for small business. That policy makers continue to come to us first for advice as a sounding board and we get it right,” said Mr Conway.
About the Institute of Public Accountants
The IPA, formed in 1923, is one of Australia’s three legally recognised professional accounting bodies. In late 2014, the IPA acquired the Institute of Financial Accountants in the UK and formed the IPA Group, with more than with more than 35,000 members and students in over 80 countries. The IPA Group is the largest SME focused accountancy organisation in the world. The IPA is a member of the International Federation of Accountants, the Accounting Professional and Ethical Standards Board and the Confederation of Asian and Pacific Accountants. The IPA was recognised in 2012 as Australia’s most innovative accounting organisation and listed in the top 20 in the 2012 BRW Most Innovative Companies List.
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