Late last year I wrote about the work we’ve been doing with small business to raise awareness of the PPSR and how the PPSR can be used to benefit small business.
The small business sector is diverse and dynamic, operating in a variety of industries and locations. And it’s because of this diversity that AFSA engages with small business in a number of different ways.
To provide a small snapshot of the different work we have done:
- We have developed a guide to assist small business and their advisors, and created an industry section on the PPSR information website.
- We have distributed more than 1 million pieces of PPSR material (printed and electronic) targeted specifically at small business.
- We have emailed 3 million small businesses directly to alert them to issues, such as 7 year expirations, in relations to the PPSR.
- We have talked and listened to more than 600 PPSR relevant business and their advisors to share and help distribute PPSR information.
- We have presented to more than 100 groups and had booths at more than 100 events across a range of industries.
- We have a PPSR News database of more than 3,500 subscribers which we communicate with one or twice a month—particularly sharing new educational videos, print and PPSR website items.
- We conduct periodic market research which surveys and interviews 1000’s of PPSR relevant businesses.
And we know we need to do more, so in December last year we inaugurated a Registrar Roundtable to meet with small business champions and advocates.
We were very pleased to hold discussions with this passionate group of people—and while some of the issues raised were not new—it was very useful to have more face-to-face discussions and hear the views of small business representatives.
The key themes that emerged from our market research, anecdotal feedback, and these discussions were:
- a lack of awareness of the PPSR amongst the small business sector
- a lack of support for small business to effectively use the Register
- the complexity of the legislation, the concepts and the Register itself
- enforcement—being able to enforce the security interest.
These issues are amplified in regional communities, where, as you know, there are fewer resources and services on the ground.
For those interested in reading more about the roundtable discussions, you can read a summary on our website.
The next step now for us, is to build on our understanding of the needs of small business in relation to the PPSR. And so AFSA is planning to meet with a diverse range of regional small businesses, to listen and learn directly from them.
By understanding what works well and what causes problems, we can make the small business experience of using the PPSR fast, clear and simple.
We are looking forward to meeting with small businesses across Australia over the coming months and sharing the insights that we gain.
Personal Property Securities