$39 million Budget investment to benefit Mackay small businesses
Published Tuesday, 28 June, 2022 at 09:30 AM
Minister for Employment and Small Business and Minister for Training and Skills Development
The Honourable Di Farmer
In Mackay to see first-hand the difference the State Budget’s $39 million small business investment will make to local businesses, Minister for Employment and Small Business Di Farmer said the Palaszczuk Government was focussed on delivering good jobs, better services and a great lifestyle.
“Since 2020, nearly 60,000 Queensland business have been supported by grants totalling almost $530 million,” Minister Farmer said.
“Following the successful business grants that spurred our economic recovery, the State Budget 2022–23 will invest a further $39.1 million over the next four years to support our crucial small business sector and I can confirm this will be permanent, ongoing funding.
“There’s no denying that it’s been a tough two years for small business and it’s wonderful to see how this program is making a difference to the lives of small business owners, not only recover but to grow and prosper.”
Julie Scott, co-owner of Prestige Cabinet Co, North Mackay, was a recipient of a $5000 Business Basics grant and said it helped advance the business during an uncertain time.
“Having this funding was a highlight and gave us the positivity and confidence to progress our business forward,” Julie said.
“We used this funding for our strategic marketing, something we would never have done previously, because we never had enough available cash flow to allocate to this part of the business.”
Thanks to the grant, Julie and her business partner, husband Danny, were able to advertise to a larger audience, increasing sales and demand and have since taken on a new employee with plans to hire another in the next six months.
Prestige Cabinet Co was one of 109 businesses to share in more than $607,000 in a range of Big Plans for Small Business grants for the Mackay region.
Minister Farmer said the State Budget would also deliver relief to small-and-medium-sized businesses through payroll tax cuts.
“This year’s State Budget 2022-23 will cut payroll taxes for more than 12,000 small and medium-sized Queensland businesses,” Minister Farmer said.
“We are increasing the number of businesses eligible for a deduction from payroll tax, and significantly increasing the deduction available to businesses already getting in – meaning a business with $6.5 million of taxable wages will see over $26,000 extra each year in its bank account.”
Changes to payroll tax will come into effect on 1 January 2023.
“As I travel the state, I’m reminded how lucky we are to be Queenslanders, with strong economic growth continuing to provide us with great opportunities,” Minister Farmer said.
“The Palaszczuk Government will continue to provide Queenslanders with opportunities for great jobs and improved services that will only reinforce the great lifestyle we are lucky to experience here in Mackay and across the state.”
Media contact: Emma Renwick 0456 604 189