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Small business to receive $22.7 million in Queensland state budget

The Queensland Government as part of the State Budget 2016-17 has announced $22.7 million for small business to start, grow and employ.

The budget announcement was made by the Honourable Leeanne Enoch MP, Minister for Innovation, Science and the Digital Economy, and Minister for Small Business, as part of the new Advancing Small Business Queensland Strategy.

Strategy Programs will be delivered by a new Office of Small Business which will enable the Queensland Government to work effectively with small business to help them create jobs, drive business growth, harness innovation and build digital capability through the new Small Business Digital Grants Program.

The Palaszczuk Government is delivering the Strategy through the $405 million Accelerated Advance Queensland initiative.

The Office of Small Business will work across government to get better outcomes for small business. The Palaszczuk Government will also put in place a new Small Business Champion to advocate for small business at State and Federal Government discussions, bringing us in line with other states.  Find out more below about the programs to be delivered as part of the Strategy.

 

Building Digital Capability Grants

Grants of up to $10,000, matched by recipients, to help small businesses enter the digital economy or build their digital capability.  Grants can be used for website development, training, social media or adopting innovative new tools and technologies.  This direct funding will help give Queensland small businesses a competitive  edge in a fast-moving economy.

 

Entrepreneurs of Tomorrow Program

The highly successful Home-Based Business Program will be expanded to help more Queensland businesses get a better start. It provides grants of up to $5,000, matched by recipients, for new homebased start-ups. More Queensland businesses will now be able to access the program, which was oversubscribed in its first year.

 

Queensland Small Business Champion

A new Queensland Small Business Champion will provide a voice for small business. The Champion will work with all levels of Government to solve challenges and identify opportunities for small business. The Champion will work closely with the Government’s Queensland Small Business Advisory Council and the Red Tape Reduction Advisory Council.

 

Tax competitiveness

The Palaszczuk Government is providing an economic environment that supports businesses and jobs growth, without placing financial hardships on households through policy and taxation settings.  Their commitment to Queenslanders includes:

  • Retaining Queensland’s competitive tax status, with per capita State tax estimated at $2,697 in 2016-17, compared with an average of $3,464 in other jurisdictions.
  • Keeping transfer duty low, with duty payable on properties valued at $450,000 almost $10,000 lower than the average duty in other jurisdictions.
  • The highest payroll tax threshold and the lowest rate of payroll tax of any mainland State.

 

Find out more  
 

Image credit: Honourable Leeanne Enoch MP

 

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