On World Micro, Small and Medium Enterprises Day the Albanese Government encourages all Australians to recognise the enormous contribution of local businesses across the country.
World Micro, Small and Medium Enterprises Day acknowledges the vital role of small businesses as employers, suppliers, community hubs and service providers, especially when conditions have been challenging.
We are delivering new action to assist Australia’s small businesses – supporting growth and jobs including;
- targeted energy bill relief of up to $650 for around 1 million small businesses in partnership with the States and Territories;
- Small Business Energy Incentive to help up to 3.8 million small‑ and medium‑sized businesses save on energy and on power bills. This will provide businesses with annual turnover of less than $50 million an additional 20 per cent deduction on spending that supports electrification and more efficient use of energy;
- making it easier for small businesses to invest and grow by providing $290 million in cash flow support through the $20,000 instant asset write‑off;
- introducing a $392.4 million Industry Growth plan that will help small business to innovate, adopt and adapt to digital technology;
- $23.4 million to help small businesses build their resilience to cyber security attacks through a new Cyber Wardens program delivered by the Council of Small Business Organisations Australia.
These new commitments build on the actions we have already taken to support small business including:
- delivered $18.6 million to help support small businesses adapt and build resilience through digital technology;
- providing $15.1 million for small business owners across Australia to access free mental health and financial counselling support;
- made unfair contract terms illegal;
- ensuring small businesses get a bigger slice of Commonwealth contracts.
This World Micro, Small and Medium Enterprises Day is an important opportunity to publicly acknowledge the businesses which the community relies on, and the Albanese Government supports, every day.