We hear from politicians regularly that small businesses are the lifeblood of the economy, that they are the single largest employer and that they matter in cities and towns across Australia.
Beyond Australia, politicians elsewhere make the same claims. They talk up small business as if them doing this helps the channel.
Sadly, most politicians only talk about small business when they want votes. Once in government, they do too little to support this most vital of economic sectors.
Here at Tower Systems, we only serve independent small businesses. Every one of our POS software clients is a small business owner. We prefer small businesses because we understand them, believe in their importance and provide a type of service tailored specifically to them.
Thinking about our commitment to small businesses recently we engaged in a discussion internally about why we think small businesses matter to the economy. This was interesting as the discussion showed that our belief and commitment go beyond the company position. Deep in the company we believe in small business.
Economically, small businesses make an extraordinary contribution to the economy. They pay a higher proportion of income as taxes than big businesses – because small business owners are less likely to engage in tax minimization or to send income offshore like we see from bug businesses.
Small businesses serve local communities with local employment, local community engagement and local infrastructure support.
Small businesses move quickly. There is less red tape, meaning small businesses can embrace opportunities faster and thereby deliver outcomes sooner than big businesses.
Small businesses are terrific labs for change. We have seen valuable changed in how things are done evolve from small business engagement.
Small businesses foster entrepreneurship. Economic growth comes, in part, from business start ups. Small businesses are excellent incubators for business start ups, keeping this part of the economy moving at a valuable pace.
These are just some of the reasons we came up with on why small businesses matter to any economy. We publish them today to reinforce our commitment and show that our support for the sector is based on firm beliefs and deeply help commitments.