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Billson calls for crackdown on banks denying basic banking services

Source: AAP/Tracey Nearmy Small business ombudsman Bruce Billson is calling on the federal government to require financial institutions to explain why they withdraw or deny insurance and banking services to small businesses. In a submission to an inquiry into the prudential regulation of investment in Australia’s export industries, Billson said many small businesses are “unable to obtain insurance or banking services based on industry, location and other factors”. The inquiry was established on February 17 to examine opportunities for the nation’s export industries, and how changing practices across banking, insurance and superannuation institutions are challenging businesses. Speaking to

Australia s small-business ombudsman proposes powers to veto banks bans on mining projects | Business

Billson submitted that he had heard from small businesses unable to obtain insurance or banking services “based on industry, location and other factors”. These were basic services that “should not be denied to legal businesses on the basis of arbitrary concerns”. “Where denial of these essential services occurs, for example in industries like live animal exports and resources, this hinders small business’s export opportunities and therefore Australia’s economic recovery from the impacts of Covid-19,” he said. He suggested that as small and family business ombudsman he, or another agency, should be empowered to force banks or insurers to “show cause” for a decision. The government should also consider giving the Australian financial complaints authority a power of review over the decision.

Australia Post Decision Opens Road To A New Food Delivery Model

Open Food Network Australia https://drive.google.com/file/d/1Dofalkx8FIGMsJ0EP4-caB Jv 3DKbk-/view?usp=sharingOpen Food Network to launch Open Road non-profit delivery service and food brokerage in Victoria servicing small to medium sized enterprises Australia Post announcement to discontinue carriage of perishable food causes national outcry and subsequent reversal decision Small to medium sized local producers struggle with logistics and regulations to be reviewed by Small Business and Family Enterprise Ombusdsman Non-profit organisation Open Food Network Australia is piloting Open Road, a collaborative producer direct delivery service for perishable goods. It’s a timely move. When Australia Post announced it “will discontinue the carriage of certain foods destined for consumption”, it placed many producers and community run food hubs or co-ops at risk – businesses already vulnerable under the new covid-normal.

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