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Franchisors told Business as usual

Written on the 14 October 2010 by Herald Sun (VIC)

Franchisors told Business as usual
Herald Sun, Page: 67
By Claire Heaney
Thursday, 14 October 2010

New Small Business Minister Nick Sherry has pledged not to tinker with regulation of the lucrative franchising industry for up to five years.

Mr Sherry used an address at the industry’s peak conference to repeat guarantees made before August’s cliffhanger election.

He told the 2010 National Franchise Convention that following on from the new Franchise Code of Conduct there would be no regulatory changes in the next three to five years.

The minister told the 500 delegates at the Gold Coast conference that state-based laws relating to franchising would just add to confusion.

Franchise Council of Australia executive directoi Steve Wright welcomed the commitment.

He described the sector as the nation’s most vibrant in the business community.

Mr Sherry’s comments came as the small business lobby said it was heartened it rated a mention in a speech by Prime Minister Julia Gillard, even if it didn’t entirely agree with her take on tax cuts.

In a wide-ranging speech in Queensland on Tuesday, Ms Gillard said a company tax rate cut from 30 to 29 per cent in the 2012-13 financial year would benefit small business.

But Council of Small Business Organisations of Australia executive director Peter Strong was not so sure. "I think it will only be good for small businesses that are incorporated. Two-thirds of them aren’t," he said.

"The cut is only 1 per cent so it is not very much." But, Mr Strong said he welcomed positive words from the PM.

"It is good to hear her focusing on small business," he said.

Author: Herald Sun (VIC)

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