Government support for SMEs

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2024-25 Budget: Will Disaster Relief and Preparedness Measures Help Small Businesses?

The 2024-25 Australian Budget allocates $236 million for disaster recovery, but is it enough? With Australia's natural disasters costing $18.2 billion annually, the per-business support amounts to just $25.65 per year. Other allocations, like the $1.4 billion for Disaster Recovery Funding Arrangements, offer $152.17 per small business annually. These figures highlight the need for more robust funding to ensure effective disaster preparedness and recovery for small businesses. Learn more about the budget’s impact and its shortcomings.
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