A provision of the Federal Budget that might have escaped notice involves contract protection for small business.
Consumers are protected from punitive conditions set by large business and this protection will now be extended to small businesses. A new scheme will include legislative reforms to make unfair terms in standard form contracts with small business void.
In a statement accompanying budget papers Small Business Minister, Bruce Billson, said “This will help to provide a level playing field for small businesses and enhance the welfare of Australians by increasing small business certainty, confidence and productivity."
Small businesses have often had to negotiate with big business on a take it or leave it basis under standard form contracts that place a disproportionate burden on one party over the other. Levelling the playing field is seen as a welcome addition to Australia's business scene.