IPA Calls for a National Small Business Administration Agency to Empower SMEs

The Institute of Public Accountants (IPA) urges the Australian Government to establish a Small Business Administration (SBA)-style agency to centralise support for small and medium-sized enterprises (SMEs).

“A dedicated agency would provide a single, streamlined resource to assist SMEs to secure funding, navigate the complex layers of Commonwealth and State regulations, foster innovation, and expand market access,” said IPA CEO Andrew Conway.

“An SBA-style agency would be transformative for Australia’s SMEs. By consolidating essential services under one roof, we can eliminate red tape, enhance efficiency, and empower small businesses to grow, innovate, and create jobs,” he said.

The proposed SBA-style agency modelled after the U.S. Small Business Administration, which was founded in 1953, would serve as a comprehensive hub offering:

  • Access to capital through loans, grants, and investment programs
  • Business development support and mentorship initiatives
  • Regulatory guidance to ease compliance burdens
  • Technology and innovation support to enhance competitiveness
  • Market access opportunities, including government procurement programs
  • Disaster recovery assistance to help businesses rebuild in times of crisis.

Research from the IPA-Deakin SME Research Centre emphasises the significant benefits of a centralised agency in boosting productivity and strengthening economic resilience.

“The U.S. SBA has played a crucial role in fostering entrepreneurship and ensuring small businesses have direct access to financial assistance and advocacy. Australia’s SMEs stand to gain tremendously from a similar structure,” Mr Conway said.

“A vibrant small business sector is vital to Australia’s economic future. We urge the government to take immediate action to establish a small business administration model that guarantees equitable access to essential resources and support.”

The IPA is committed to collaborating with policymakers, industry leaders, and business advocates to develop a roadmap for the successful implementation of this agency.

 

For more information or to arrange an interview, please contact:

Yulia Fokina
Media and Communications Manager
Institute of Public Accountants
Email: [email protected]
Phone: 0419 540 93