A level playing field will give small business the assistance it needs to survive in today’s highly competitive economy, Senator Macdonald said today.
The Government’s commitment to amend s46 of the Competition and Consumer Act (2010) in response to the final recommendations of the Harper Review will encourage competition, growth and innovation in business, said the Senator.
“This week’s announcement will be applauded by small businesses the length and breadth of Northern Australia, who for too long have been at the mercy of larger, mostly southern-based companies who have abused their market share for too long,” Senator Macdonald said.
“By removing the threat of market power domination we will see better protections for consumers, and new opportunities created for the thousands of small businesses many of which have been forced to scale back operations to keep the doors open.”
Senator Macdonald said the flow on effects of restoring competition into the market place will be widespread across the North.
“We will immediately see a renewed sense of confidence, which in turn will lead to an increase in investment in capital and resources and more employment being created.”
“If we are to realise the vast potential of Northern Australia, this is exactly the type of fair and transparent market conditions we need to be encouraging.