The government's Economic Reform Roundtable kicks off tomorrow, and I am optimistic that real outcomes with positive and lasting impact on small and family businesses are in reach.

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And they need to be.

Operating conditions have been tough for small businesses over the past few years, although pleasingly, we have seen some recent signs of improvement, the first glimmer since August 2022.

This was off the back of earlier rate cuts, and I am hopeful that the RBA's cut to the cash rate by 0.25 per cent last week will create more momentum for our enterprising and entrepreneurial small and family business owners.

Small businesses have shown relentless enthusiasm and seemingly endless resilience over the past few years to provide opportunities, create livelihoods and support economic uplift in their communities.

Improvements in the operating environment are necessary to bolster success prospects for enterprising people to encourage growth and investment in their businesses, employees and customers.

Small businesses have always been vital contributors to our national economy - comprising almost 98 per cent of Australian businesses, providing two in five private sector jobs, and one in three dollars generated by our economy.

But as operating conditions have become more challenging and regulations more complex and burdensome, the small business share of Australia's economic contribution has fallen compared to decades past.

Left as things are, I fear that we will continue sleepwalking into a "big corporate" economy.

Can the economic reform roundtable provide hope, reassurance and encouragement for the small and family businesses that frankly are the "economy" of our suburbs and regions?

Yes, it can. But it will need the concerns, interests and aspirations of small and family businesses to be heard and at the front of mind, and not just over the next few days.

A "small-business lens" embedded in reform proposals, policy formation, program design and regulatory impact evaluation and compliance support, will pay dividends right across the economy.

Just like the maxim: "Look after the cents and the........

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