Accountants ‘at epicentre’ of growth in non-bank finance
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Small businesses will be supported for the next four years through a $39.1 million investment from the Queensland government announced in its 2022-23 budget.
The government would also deliver relief to small and medium-sized businesses through payroll tax cuts that will see more than 12,000 businesses with payrolls under $10.4 million save up to $26,000 per year.
Queensland Employment and Small Business Minister, Di Farmer, said high-demand, high-impact small-business grant programs that were successful during the pandemic will be moved into permanent ongoing funding.
“In addition, we will guarantee ongoing funding to provide the Mentoring for Growth (M4G) initiative, a program that matches hundreds of volunteer business experts with small business operators to advise them free of charge,” she said.
“I am delighted M4G will continue to provide support to small business owners across the state because tapping into experienced business-minds can provide a fresh outlook, new ideas and can open the door to new opportunities.
“Our engagement with the small business community increased exponentially throughout the pandemic and businesses are keen to take every opportunity to use our services and programs.”
Since 2020, nearly 60,000 Queensland business have been supported by grants totalling almost $530 million, part of the $2.5 billion in small-business support from the state government.
This includes over $500 million in COVID-19 economic support to 55,000 businesses in 2020 and 2021 and more than $20 million in Big Plans for Small Business.
The government will also be rolling out a $6.75 million Small Business Wellness and Support package to engage six Small Business Wellness Coaches to help those businesses hardest hit by the pandemic and the recent floods.