❓ Hon. Kate Doust asks about the SBDC's work on regulatory improvement and the projected economic impact of the Business Migration Program. The Minister provides details on collaborations and investment figures.
AnsweredQoN 2611Legislative Council
QuestionView source ↗
I refer to the Small Business Development Corporation Annual Report 2013-14 , and I ask: (a) on page 89, in relation to “unnecessary regulatory impacts and the cumulative burden of compliance”, will the Minister outline each case where the Corporation helped to improve regulatory regimes and streamline administrative processes; and (b) on page 93, in relation to the Business Migration Program and the statement “The program is forecast to deliver more than $1 billion in new asset investment into WA over the forward estimates”, will the Minister explain where has this figure come from and what evidence can be provided to support this claim?
AnswerView source ↗
Answered
18 March 2015
Responded by
Attorney General representing the Minister for Small Business
Response time
28 days
The Small Business Development Corporation advises:
(a) During 2013-14, the Small Business Development Corporation collaborated with the following agencies/government trading enterprises to improve regulatory regimes, streamline administrative processes and reduce unnecessary compliance burden on small business:
· Western Power and Synergy, to better coordinate and automate inter-related processes for the Renewable Energy Buyback Scheme;
· Department of Finance, to refine the State Government's Regulatory Impact Assessment process and enhance small business representation and engagement by State regulators; and
· Department of Commerce, to streamline the licensing of occupations and businesses (including the registration procedures for motor trades, the deregulation of travel agents, and the regulation of fuel price boards), reform limited partnerships laws, and improve the rights and obligations of retail tenants under commercial tenancy laws.
(b) In the four years to 2013-14 business migrants nominated by the Small Business Development Corporation have finalised investments of $1.1 billion as part of their commitment to the State. This averaged approximately $280 million a year. Based on this historical data, it is expected that business migrants will finalise at least $250 million per year over the forward estimates. The year to date figure for 2014-15 as at 31 January is on target to achieve this with finalised investments of over $209 million.
(a) During 2013-14, the Small Business Development Corporation collaborated with the following agencies/government trading enterprises to improve regulatory regimes, streamline administrative processes and reduce unnecessary compliance burden on small business:
· Western Power and Synergy, to better coordinate and automate inter-related processes for the Renewable Energy Buyback Scheme;
· Department of Finance, to refine the State Government's Regulatory Impact Assessment process and enhance small business representation and engagement by State regulators; and
· Department of Commerce, to streamline the licensing of occupations and businesses (including the registration procedures for motor trades, the deregulation of travel agents, and the regulation of fuel price boards), reform limited partnerships laws, and improve the rights and obligations of retail tenants under commercial tenancy laws.
(b) In the four years to 2013-14 business migrants nominated by the Small Business Development Corporation have finalised investments of $1.1 billion as part of their commitment to the State. This averaged approximately $280 million a year. Based on this historical data, it is expected that business migrants will finalise at least $250 million per year over the forward estimates. The year to date figure for 2014-15 as at 31 January is on target to achieve this with finalised investments of over $209 million.
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