Small business support

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2024-25 Budget: Will Small Businesses Truly Benefit?

The 2024-25 Australian Budget aims to support small businesses with initiatives like a $20,000 instant asset write-off, $3.5 billion in energy bill relief, and $25.3 million to improve payment times. However, the allocated funds per business are minimal, raising questions about their effectiveness. For instance, the digital adoption initiative provides just $6.91 per business annually. More comprehensive and sustained strategies are essential for meaningful support and long-term growth. Learn more about the budget's impact.
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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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2024-25 Australian Budget: Ambitious Plans or Inflationary Risks? A Critical Review of Economic Impact and Future RBA Decisions

SBAAS responds to the 2024-25 Australian Budget, highlighting both opportunities and challenges for small businesses. Key measures include energy bill relief, rent assistance, and Stage 3 tax cuts. However, future deficits, increased borrowing costs, and economic uncertainties pose significant risks. Effective implementation and long-term planning are essential for success.
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