December 4, 2017
Partnerships between business and government have been further underlined with the release of the 2017 Annual Small Business Statement by South Australian minister for Small Business, Martin Hamilton-Smith.
The release coincided with the announcement of a new Excellence in Business Fund and new tailored action plans for small business associations, including the Water Industry Alliance, who hosted a table for Growth and above members at the 'Scaling for Growth' breakfast where the announcement took place.
The new Excellence in Business Fund will provide grants of up to $50,000 for capability building programs to increase competitiveness, access new export and local markets, expand operations and grow jobs.
The Alliance is working to prepare a proposal for a grant through the Excellence in Business Fund and this week sought information from members to identify their business needs and interests in programs and incentives to help businesses grow.
The State Government has also launched a new website which provides information about support, funding and initiatives available to small businesses.
The 2017 Small Business Statement highlights actions and results that the State Government has achieved in supporting small businesses to compete, grow, and create jobs since the inaugural Statement was released in December 2016.
- Permanent payroll tax rate of 2.5 per cent in South Australia for small businesses with payrolls between $600,000 and $1 million.
- $10 million Small Business Development Fund targeted at northern Adelaide businesses - 131 businesses and start-ups have shared in $5,850,000 worth of grants. The projects supported by these grants will create more than 400 jobs.
- Job Accelerator Grant provides up to $15,000 to employ an apprentice or trainee for companies with payrolls under $5 million.
- More than 400 South Australian businesses have applied to the $200 million Future Jobs Fund.
- The State Government’s $550 million Our Energy Plan will provide reliable, affordable and clean energy power to small businesses.
- Strengthened Industry Advocate powers to encourage contractors to use local businesses and local workers on government projects.
- 90 per cent of sub-contracts on projects of more than $50 million awarded to South Australian-based SMEs.