Is laissez-faire economics being sent to the garbage bin of history? It just might be – and a good thing too. Voting patterns around the world show that most people are sick and tired of government inaction and policy domination by powerful vested interests. It’s time the Australians who make up the small business sector got a genuinely fair go.
So what does that mean? To start off with, policymakers have to realise that the small business sector is not something that follows a particular formula. In the real world, the small business community is diverse; we are retailers, café owners, pharmacists, owner drivers, couriers, independent contractors, manufacturers, IT experts, accountants, real estate agents, lotto agents, newsagents, cable layers etc. We are based in shopping malls, at home, in shopping strips, on the internet, on major highways, in industrial parks, in cities, in towns and in our trucks. We are all individuals.
“the small business sector is not something that follows a particular formula”
We can at times be segmented into larger groups for behavioural purposes, for example, we can assume that owner drivers are more worried about losing their drivers licence than a home-based business operator, bad as that would be. But policymakers who believe the small business community is homogenous – or worse that it behaves according to some textbook theory – are bound to work on flawed, exaggerated or false assumptions.