THE Queensland Resources Council (QRC) has welcomed the release of official figures that show 96 percent of workers in Queensland’s resources and quarry sectors have completed safety resets.

QRC chief executive Ian Macfarlane said the resources industry has been fully engaged in the reset process, underscoring the sector’s commitment to safety for all workers.

“Safety is the number one priority in the resources sector. It’s not just words, it’s the reality for everyone who works in or with our sector,” Mr Macfarlane said.

“From day one when the reset was first proposed at a meeting with industry, government and unions, resources companies have made this their top priority.

“Although the circumstances that have led up to the reset are tragic, the reset process has had a positive impact on the safety settings for the sector in the long-term.

“Each safety reset was implemented according to site-specific circumstances and specific fatal risks," Mr Macfarlane said.

“I have had feedback about resets that show they have strengthened the two-way communication between workers and management. There have also been occasions where the resets have identified external issues that could improve safety, for example upgrading roads near mine sites.\

“The resources sector always strives to implement the best practices and best technologies to maximise site safety. Every measure we put in place to enhance safety is time well spent.

“Thank you to all our member companies who have participated in this reset and given it their full resources and attention," he said.

“Extenuating circumstances relating to shift logistics and individual cases of worker leave mean we expect the small number of workers who are still participating in the reset to complete the process in the coming weeks.

“QRC supports the two independent reviews commissioned by the Queensland Government, which are due to report back by the end of the year.”

The reviews will focus on why mine and quarry workers have died over the past 20 years; how industry can improve and how the mines inspectorate can work better and review the state’s mining health and safety legislation.

www.qrc.org.au

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"AUSTRALIA'S economic growth rate remains stuck at a decade low but the government has what’s needed to get it moving again,” according to Denita Wawn, CEO of Master Builders Australia. 

“What’s urgently needed is an acceleration of infrastructure projects to the construction phase and more discussion of measures to encourage business investment.  We need investment in new plant, equipment and other assets need to be sharpened so that the appetite for growth and expansion returns,” Ms Wawn said.

“This morning’s GDP figures show that Australia’s economy grew by 0.5 percent during the June 2019 quarter equivalent to a 1.4 percent annual growth rate – the lowest since September 2009.

“Many components of domestic demand have shrunk over the past year – including key elements like business investment in addition to both residential and commercial building. Even though household spending has grown it has done so at the weakest pace in years,” Ms Wawn said. 

“We back the government’s transport infrastructure agenda and the announcement by the Federal and Victorian Governments today of $367.5 million for Melbourne’s Monash Freeway is good news, but today’s figures also show that the volume of engineering construction actually dropped by some 14.8% over the past year.

“Announcements won’t kick-start economic growth. That’s why governments need to streamline planning and approvals processes and harness the capacity of smaller construction contractors.

“In addition to commitments in Melbourne and Sydney there is great opportunity to unlock growth by targeting projects to other major cities, towns and regions and the government’s new skilled migration visa measures would help support that ambition. Master Builders has made a submission to Infrastructure Australia with a proposed package of projects that fits this criteria,” Ms Wawn said. 

“Our industry provides the most full time jobs and has the most small businesses of any sector but we need growth to continue being a major driver of economic activity. That’s why we also want to see more discussion around other policy measures to encourage business investment. 

 “The key thing is to get the work happening as quickly as possible on this and other previously announced infrastructure projects. So far, the official data show that the infrastructure wave has yet to make an impression on the ground,” Ms Wawn said.

www.masterbuilders.com.au

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THE Australian Small Business and Family Enterprise Ombudsman (ASBFEO), Kate Carnell is seeking feedback on the ground-breaking Business Funding Guide.

The guide, released in July by ASBFEO in partnership with Scottish Pacific Business Finance, is an industry-first publication primarily written for accountants, bookkeepers, brokers and other financial advisers, to help their small business clients find the right funding and get ‘finance fit’ to increase their likelihood of having funding applications approved.

Its companion guide – FitsME- Essential Guide to Business Funding gives small business operators the most important information they need to know about preparing to apply for finance.

“The overwhelming feedback from the small business community is that a lack of access to funding is their biggest barrier to growth,” Ms Carnell said.

“The Australian Banking Association (ABA) has even acknowledged that small business loan applications have fallen by 33 percent since 2014.”

While ASBFEO and Scottish Pacific consulted widely with adviser associations and other key stakeholders representing the small business sector to produce the first edition of the guide, feedback is now being sought to finalise the guide.

“We welcome feedback on the content and usefulness of the guide from all interested parties," Ms Carnell said.

“At the moment this is a living document that can be amended and improved based on the feedback we get, with a final version of the guide to be available later this year.

“Importantly, this guide is designed to help small businesses become ‘finance fit’ to give them their best chance at securing the funding they need.

“Our Business Funding Guide offers comprehensive information on the range of financial products on the market – it’s crucial small business understands that the big four banks are not the only game in town," she said.

“There are so many variables in running a small business, but the one constant is that SMEs need funds to grow,” Scottish Pacific CEO Peter Langham said.

“By incorporating broad feedback, the guide will be able to really engage businesses and their advisers about a wide range of bank and non-bank funding options and give them the tools to find the right one for them.”

Ms Carnell said while the guide covered a wide range of funding options, for those small business operators considering obtaining finance through a mainstream financial institution, the ABA is promoting its website financingyoursmallbusiness.com.au which is a helpful resource.

Provide Business Funding Guide feedback by emailing This email address is being protected from spambots. You need JavaScript enabled to view it. before the October 18 deadline.

www.asbfeo.gov.au

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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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THE Financial Planning Association of Australia (FPA) has welcomed the Federal Government’s announcement that it will give existing financial planners more time to pass the Financial Adviser Standards and Ethics Authority (FASEA) exam and comply with the FASEA education standard.

Senator Jane Hume, Assistant Minister for Superannuation, Financial Services and Financial Technology, announced today that the Federal Government will restore the full two-year period to pass the exam by extending the deadline for 12 months to 1 January 2022. The government will also extend the deadline for meeting the FASEA education standard by 24 months to 1 January 2026.

Dante De Gori, CEO of the FPA, said the government’s decision to announce their intention to extend the original deadline means existing financial planners are no longer being unfairly disadvantaged by delays from FASEA in rolling-out its exam and its new code of ethics.

“The government has done the right thing by proposing to extend the deadlines for all existing financial planners to sit and pass the FASEA exam and meet the education standard," Mr De Gori said.

“The proposed new deadlines will give existing financial planners more time to study, ensuring that these reforms are successful at raising the bar across the profession.

“We’re pleased that Minister Hume has listened to the feedback from our members and been willing to work with the FPA and AFA jointly to deliver a better outcome for all financial planners and their clients.”