State Budget cements Queensland as the best place for small business to grow and employ

The Palaszczuk Government has outlined its continued commitment to support Queensland’s more than 438,000 small businesses to grow and create more jobs in the 2019–20 State Budget with the release of our second Small Business Budget Paper.

Minister for Employment and Small Business Shannon Fentiman said the State Government was committed to ensuring small businesses have the support they need to succeed.

“Small businesses are the engine room of our thriving economy, contributing around $113 billion each year,” Ms Fentiman said.

“We are continuing to create the right conditions for small businesses to invest, grow and employ with almost $900 million of targeted payroll tax initiatives over the next four years delivered in this year’s budget.”

This includes:

• Lifting the payroll tax threshold from $1.1 million to $1.3 million of annual wages
• Introducing a new regional discount rate for businesses who have more than 85% of their employees outside SEQ
• Introducing a new rebate for employment growth providing a payroll tax rebate of up to $20,000 for businesses that can demonstrate they have increased their number of full time employees
• Continuing the 50% Payroll tax — Apprentice and Trainee rebate to 30 June 2021

“We are not just making it cheaper to run a business in Queensland, we are also working hand in hand with the sector to build capacity and create jobs through a range of grants and support programs focussed on small business” Ms Fentiman said.

“$4 million in additional grant funding is allocated to the successful Advancing Small Business Queensland Strategy to help new businesses start, support existing businesses to work smarter and be more resilient, and assist businesses with high growth aspirations to grow and employ.”

“Since the Advancing Small Business Queensland Strategy commenced in 2016, more than $12.5 million has been allocated to over 2,100 small businesses through our successful small business grants program.

“These grants will continue to support our small businesses and will be bolstered by the ongoing delivery of our Mentoring for Growth program which now has a network of over 500 volunteer business experts on hand to provide insights and strategies to small business owners to overcome challenges and improve their business.”

This year’s State Budget also puts a focus on reducing red tape.

“Over the next 12 months, we will implement our Queensland Small Business Procurement Commitment to make it easier for more small businesses to do business with government and deliver the On-time Payment Policy to improve invoice payment times from 30 days to 20 days” she said.

“We will support delivery of the Small Business Regulatory Reform initiative which supports the creation of an online resource to connect small businesses with information about training opportunities and simplify the process to hire an apprentice or trainee.

“Work will also continue to enhance online services through the Business Queensland website by working with Queensland Government agencies and the Australian Government to improve the quality and accessibility of information and services for businesses.”

“Through the work of the Queensland Small Business Champion who chairs the Queensland Small Business Advisory Committee and the Better Regulation Taskforce, we have heard loud and clear from small businesses that we need to reduce red tape and simplify transactions between all levels of government.”

“We are also continuing the $5.7 million ecoBiz program in partnership with CCIQ to help businesses cut their energy, water and waste bill through eco-efficiency actions.

“We will continue this work to empower Queensland’s small business owners to succeed while building resilience and to provide the best possible conditions for them to grow their business and provide employment opportunities in their local communities.”

ENDS

Media Contact:          Inga Williams              0439 949 719