Small business summit on global financial crisis

THE Rudd Government has announced it will host a Small Business Summit on the global financial crisis in Brisbane this Friday, 31 October.

THE Rudd Government has announced it will host a Small Business Summit on the global financial crisis in Brisbane this Friday, 31 October.

The forum will allow small business operators and their representatives to discuss with the Prime Minister and Ministers how the global financial crisis is affecting the small business community.

In a statement released today, the Rudd Government said it does not hold all knowledge when it comes to dealing with economic turbulence and input from the small business community is essential.

Friday’s meeting is being organised in collaboration with the Council of Small Business of Australia and Commerce Queensland.

Treasurer Wayne Swan and the Minister for Superannuation and Corporate Law Senator Nick Sherry will also attend the Summit.

Major bank lenders will be invited to explain their lending policies for small businesses. Small businesses are usually the first to feel the effects of an economic downturn.

The Rudd Government says it has also moved to guarantee all deposits of Australian banks, building societies and credit unions and Australian subsidiaries of foreign-owned banks.

This guarantee will operate for a period of three years and there is no cap on the deposit amount. The Government will continue to liaise with both big and small business as we work on a co-operative and sustained strategy to see this crisis through.

For more information visit:

Council of Small Business of Australia – www.cosboa.org

Commerce Queensland – www.qcci.com.au

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