Female small business owners are driving Australia’s economic recovery. The Albanese government needs to support them

As the Albanese government settles in, it must consider boosting female-owned small businesses as a line of defence against the onslaught of economic challenges Australia currently faces.

With rising inflation, debt, cost of living, and unaffordable property prices to contend with, new Treasurer Jim Chalmers has his work cut out for him. Even more so in ensuring that women running small businesses are supported to keep growing.

In the private sector, the size and scale of corporate purchasing worldwide is enabling more female-owned small business procurement, which is an important target in meeting the UN’s Sustainable Development Goals. The UN report on procurement practices notes that corporations that bypass female-owned businesses miss out on opportunities to enlarge their global markets, diversify their supply chains and add more cash to the economy.