THE House Standing Committee on Agriculture and Water Resources will launch an inquiry into growing Australian agriculture to $100 billion by 2030.

Australia’s agricultural industries currently generate products valued at approximately $60 billion annually. The National Farmers’ Federation has suggested that with careful planning and investment this figure could grow to $100 billion by 2030.

Rick Wilson MP, chair of the Agriculture and Water Resources Committee, stated that "the global demand for food is projected to grow 54 percent by 2050. Australian agriculture is well placed to make a significant contribution to supplying this growing demand and in the process increase its value and profitability".

"Whether it be improving market access, investing in marketing, or embracing innovative technologies that increase the efficiency, sustainability, and productivity of our farms, the Committee is interested in all the opportunities available to drive growth in Australian agricultural businesses in the coming decades," Mr Wilson said.

The Committee is accepting submissions to the inquiry until Monday, 14 October 2019. For further information on making a submission please visit the inquiry website.

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THE Institute of Public Accountants (IPA) has engaged senior adviser to the Office of International Trade at the US Small Business Administration (SBA), Eugene Cornelius, Jr to present and co-facilitate a major conference focusing on Australia’s flagging productivity on September 4 and 5 at Deakin University Downtown in Melbourne.

Mr Cornelius was responsible for the establishment of the SBA’s Office of International Trade and previously, as deputy associate administrator of that Office, overseeing four program divisions: Federal State and Trade; International Trade Finance; International Affairs & Trade Policy; and Administration & Operations.

In addition to his SBA role, Mr Cornelius has accepted a one-year detail with the International Council for Small Business (ICSB), with headquarters in Washington DC.

Mr Cornelius will be joined by fellow American, Dr Winslow Sargeant.  Dr Sargeant is ICSB’s President Elect and Managing Director of S&T.  Previously, he was the Chief Counsel for Advocacy appointed by and reporting direct to President Barack Obama.  Dr Sargeant was also a managing director at a Madison, Winsconsin-based capital firm, Venture Investor LLC.

Mr Cornelius and Dr Sargeant will form part of a large line-up of talented presenters at the Small Business: Big Vision event being run by the IPA Deakin SME Research Centre on 4 and 5 September 2019.  Keynote speakers include the Hon Michael Sukkar MP, Minister for Housing and Assistant Treasurer, and Ms Kate Carnell, the Australian Small Business and Family Enterprise Ombudsman.

Other international speakers include: Prof Charles Matthews, University of Cincinnati; 2017-18 Fulbright US Scholar, USA; and Ms Diah Yusuf, entrepreneur, business consultant, Vice President ICSB, Indonesia.

Details of the program can be found at:  www.publicaccountants.org.au/events/smallbusinessbigvision

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THE Australian Small Business and Family Enterprise Ombudsman, Kate Carnell has praised Beyond Blue for supporting the mental health of small business owners.

Beyond Blue has today released a free online guide that provides business advisers, such as accountants, bookkeepers and industry association representatives, with practical tips about how to support their clients and members.

“I commend Beyond Blue for taking a holistic approach to supporting our small business community,” Ms Carnell said.

“Many small business owners may not be aware that the very worries that are keeping them up at night – be it cash flow, customer demands or paying suppliers – can actually cause high levels of psychological distress and have serious impacts on their mental and physical health.

“Their trusted advisers are in a good position to notice if their client is struggling to cope with these issues and to start that important conversation about their mental health," she said.

“The guide is easy to navigate and provides business advisers with the tools they need to support their clients, without formal training in counselling.

“We know it makes good business sense to invest in wellbeing. Research by Pricewaterhouse Coopers has shown that every dollar spent on creating a mentally health workplace results in a positive return on investment of 2.3.”

The guide is available for download at www.bb.org.au/supportingsmallbusiness

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CPA AUSTRALIA has welcomed and said it supports the Federal Government’s announcement of an extension to the transition period for registered financial advisers to meet the examination and education requirements of the new standards.

CPA Australia’s public practice manager Keddie Waller said, “While we are supportive of the principles of these reforms, it is important to balance their impact against maintaining the ongoing availability, quality and affordability of advice, as stated by the government.

"The additional one year granted by the government to complete the Financial Advisors Standards and Ethics Authority (FASEA) exam and the additional two years granted to meet the FASEA qualification requirements will help smooth the transition for financial advisers,” Ms Waller said.

“We note, however, that there are elements, such as recognition of prior learning, that are still being finalised by FASEA.

“CPA Australia will continue to work closely with the government and FASEA to help smooth the transition for our members, as there are further opportunities for improvement.”

www.cpaaustralia.com.au

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