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Morrison is expected to announce support for 400,000 small businesses District News


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The Morrison government has promised to help set up 400,000 small and family businesses and support programs to help them reduce overheads in the event of re-election. The new statement will support new small and family businesses over the next five years as the re-elected coalition government invests $ 17.9 million in an energy consulting program for businesses. The program will aim to help businesses navigate the retail electricity market and adopt more efficient technologies to reduce energy costs. “When we create small businesses, we create jobs,” said Prime Minister Scott Morrison. “Our plan for a strong economy and a strong future for all Australians is based on strong small business.” The coalition also drew attention to new data from the Australian Tax Administration, which she said showed government tax breaks attracted $ 23 billion in business investment last year. The government said it still sees benefits from their initiatives. Initiatives cited by the coalition included $ 21.8 billion in business investment from their extended instant write-off scheme and an additional $ 1.2 billion paid through the loss-transfer initiative. Mr Morrison said the small business support program was designed to support a key sector that helped strengthen the economy. READ MORE “Our plan for a strong economy and a stronger future for all Australians is based on strong small business,” Mr Morrison said. “This means keeping taxes at record lows, cutting red tape, supporting training and students, signing new trade agreements to create new export markets and ensuring that businesses can address the overhead of electricity prices.” Private business investment in non-profit industry grew by 10.8 percent year-over-year to June 2021, and is expected to continue with non-profit business investment projected to grow 7 percent in 2021-22 and 9 percent in 2022. 23. The government expects their incentive programs to support $ 320 billion in business investment and create an additional 60,000 jobs by the end of June 2023. Minister of Industry, Energy and Emission Reduction Angus Taylor said that an expanded program of consultations on energy issues will benefit high energy resources. using enterprises in accommodation, hospitality, agriculture and manufacturing. “Since we launched [program] In 2019, more than 13,000 small businesses gained access to the service to learn more about their electricity bills, plan energy audits, identify energy saving opportunities and ultimately reduce their electricity bills, Mr. Taylor said. – Additional investment in an energy consulting program for business. we’ll see an additional 15,000 sessions, and combined with our $ 60 million Powering Business program and instant asset write-off we provide SMEs with tools to reduce costs, increase productivity and ultimately grow their business. ”The program will provide small business consulting services. Minister of Employment, Labor, Skills, Small and Family Business Stuart Robert said the government planned to continue to support small businesses in development and creation. “Our plan reinforces our commitment to small and family businesses with a full package of measures to support small businesses in development, innovation and more jobs,” said Mr Robert. “It is based on incentives for small business investments, including a 20 percent tax deduction from expenses on external staff training and a 20 percent tax deduction for investing in new technologies. ”



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