Small Biz Matters – a half hour program each week where you can work ON your business rather than IN it.
with Alexi Boyd, broadcaster, advocate and small business owner.
Date: 18 February 2020
Did you know in 2018 the Modern Slavery Act came into affect for all businesses over $100M profit? It means they must report on the people and materials in their supply chains to prove they are not involved in what’s termed modern slavery. Whether it be working conditions, where your raw materials come from, or worse, it’s not something any business needs on their record.
So, it may not relevant to us now but we in small business know it won’t be long before this piece of legislation is coming for us too.
But what if I told you that you can opt in? Having this tick of approval might help you get that lucrative corporate or govt contract. Or really prove you’re as socially conscious as you claim. So understanding and mitigating the risks in your supply chain is ethically important.
So what is the 2018 Modern Slavery Act, the process for reporting and how is it now and into the future going to affect small businesses in Australia? Stephen and Sarah Morse already have decades of experience in this industry, some not so positive but are putting all of this into supporting businesses to understand the Act, be compliant and decrease their exposure to the Modern Slavery trade.
Welcome to the show Stephen & Sarah.
Topics we’ll be covering:
What is the act and how does it affect small business in terms of compliance?
Tendering process is where the majority of transparency needs to be shown
Mandatories - affects $100 gross profit, dept home affairs administrators, approx 3000 entities at moment but likely to expand
These entities (or those who wish to opt in) have to report every year.
Guidelines include 7 steps, how have you investigated and consulted to mediate the risk, what KPIs are you putting in place. Reasonable steps are the expectation.
The trickle down affect will mean all suppliers (inc small business) need to demonstrate compliance (opt-in) to maintain and tender.
transparency (explore their supply chain risk and exposure
Why is it beneficial for a small business to opt in (see it as an opportunity, remain competitive, tenders for govt and corporate & consumer pressures)
What could you do to show leadership & how is this helping globally
Attracting new talent, making it part of your DNA, KPIs
Engaging with NGOs who are working in this space - examples, share value partnerships, the 1% theory
It’s not just about compliance
Broadly your small business journey and what led you to start this business and why you’re passionate about supporting small business
Healthcare & Humanitarian backgrounds, Christian mission support
Own faith convictions around poverty, justice & investigations in Spain & Europe free movements into different areas, porous borders, geopolitical factors,
Taught English to business
Completed a PHD examining socioeconomic factors of people trafficking
Upon return to Aust we were going to return to Aust, but the campaign fell apart due to family circumstances
Clean start, but keeping in touch with networks for modern slavery
Talk to the legislation - how did it come about and who did they consult with?
Legal professors, chambers
Politically driven to happen before Federal legislation
The global market in which we work, how does this impact small business supply chains
What is the slave trade - definitions, inproving wages, workplace health & safety, access to healthcare, education, the broader community
How to engage with an expert as a small business and what can you expect them to do to help you?
Stephen & sarah - gaps analysis, risk assessment in the supply chain
What are some of the ways we can, as business consumers, make those decisions
Recommended orgs which have business supplies
To find out more go to their website: www.unchained.ne