I Love Small Business - Time to say thanks

It is time to stop and thank small businesses for their significant contribution to the Australian economy.

In 2012, the Institute of Public Accountants (IPA) introduced I Love Small Business Day with a special event in Canberra, providing all politicians with a wish list of items for the parliament to consider in easing the compliance burden on small business.

The IPA is one of the peak global bodies providing training and certification to public accountants who in turn are seen by their small business clients as their most trusted adviser.

This year, the IPA has extended the 'love' theme throughout June and the hope is that all Australians will join us in acknowledging and congratulating small businesses for the economic and employment contribution they make to our economy.

"The importance of small business in Australia cannot be overlooked," said IPA chief executive officer, Andrew Conway.

"With some 2.7 million small businesses in Australia, representing 96% of all businesses and employing 47% of private sector employment; the contribution of the small business sector is staggering.

"We are compiling the 2013 wish list as we continue to advocate for the needs of small business; particularly in the areas of a fairer and simpler tax regime and the overwhelming need to reduce the regulatory burden.

"Just think if small businesses were unshackled from today's compliance burdens, how much more time and energy they could put into growing their businesses and to making an even greater contribution to the Australian economy.

"Instead, many struggle to keep up with the compliance burden associated with operating their own small business; facing a myriad of laws and regulations, including on taxation, superannuation, corporations law, workplace relations, OH&S and much more," said Mr Conway.

The IPA will be conducting a range of special events to celebrate small business, culminating in the IPA's first National Small Business Dialogue forum to be held at Parliament House on 26 June.