* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Thursday, May 8, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Blackstone River Theatre presents music from Scotland with Cantrip – The Valley Breeze

    Experience the Enchanting Sounds of Scotland: Cantrip Takes the Stage at Blackstone River Theatre!

    The viral wireless audio dongle for in-flight entertainment just got a big upgrade – and I love it – ZDNET

    Game-Changer for In-Flight Entertainment: The Upgraded Wireless Audio Dongle You’ll Love!

    Tahoe City Downtown Association opens 4th of July Entertainment Grant Program – Sierra Sun

    Celebrate Independence Day: Tahoe City Launches Exciting 4th of July Entertainment Grant Program!

    WEBTOON Entertainment Revolutionizes Webcomic Discovery with Innovative New Personalization Features and Product Updates – Business Wire

    Unlocking a New Era of Webcomic Discovery: WEBTOON’s Exciting Personalization Features and Updates!

    What does Gen Z consider entertainment? – The Drum

    Unlocking Gen Z’s Entertainment Preferences: What Captivates the Next Generation

    MSQ Sport + Entertainment appoints Steph Lund as North America CEO – Campaign US

    Steph Lund Takes the Helm as CEO of MSQ Sport + Entertainment in North America!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Trump administration set to overhaul Biden’s AI chip export regulations – TechHQ

    Trump administration set to overhaul Biden’s AI chip export regulations – TechHQ

    Technology is the key to empathy in insurance – InsuranceNewsNet

    Unlocking Empathy: How Technology is Transforming the Insurance Experience

    Technology – Inflexion

    Revolutionizing the Future: The Impact of Cutting-Edge Technology

    Outdated technology and stress-related absences contribute to Newark Airport chaos – Travel Weekly

    How Outdated Technology and Stress Are Fueling Chaos at Newark Airport

    Tech & AI LIVE London: Q&A with IBM’s Nabeel Nawaz – Technology Magazine

    Tech & AI LIVE London: Q&A with IBM’s Nabeel Nawaz – Technology Magazine

    Radar Technology Offers Contactless Vital Sign Monitoring for Rural Healthcare – AZoSensors

    Revolutionizing Rural Healthcare: How Radar Technology Enables Contactless Vital Sign Monitoring

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Blackstone River Theatre presents music from Scotland with Cantrip – The Valley Breeze

    Experience the Enchanting Sounds of Scotland: Cantrip Takes the Stage at Blackstone River Theatre!

    The viral wireless audio dongle for in-flight entertainment just got a big upgrade – and I love it – ZDNET

    Game-Changer for In-Flight Entertainment: The Upgraded Wireless Audio Dongle You’ll Love!

    Tahoe City Downtown Association opens 4th of July Entertainment Grant Program – Sierra Sun

    Celebrate Independence Day: Tahoe City Launches Exciting 4th of July Entertainment Grant Program!

    WEBTOON Entertainment Revolutionizes Webcomic Discovery with Innovative New Personalization Features and Product Updates – Business Wire

    Unlocking a New Era of Webcomic Discovery: WEBTOON’s Exciting Personalization Features and Updates!

    What does Gen Z consider entertainment? – The Drum

    Unlocking Gen Z’s Entertainment Preferences: What Captivates the Next Generation

    MSQ Sport + Entertainment appoints Steph Lund as North America CEO – Campaign US

    Steph Lund Takes the Helm as CEO of MSQ Sport + Entertainment in North America!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Trump administration set to overhaul Biden’s AI chip export regulations – TechHQ

    Trump administration set to overhaul Biden’s AI chip export regulations – TechHQ

    Technology is the key to empathy in insurance – InsuranceNewsNet

    Unlocking Empathy: How Technology is Transforming the Insurance Experience

    Technology – Inflexion

    Revolutionizing the Future: The Impact of Cutting-Edge Technology

    Outdated technology and stress-related absences contribute to Newark Airport chaos – Travel Weekly

    How Outdated Technology and Stress Are Fueling Chaos at Newark Airport

    Tech & AI LIVE London: Q&A with IBM’s Nabeel Nawaz – Technology Magazine

    Tech & AI LIVE London: Q&A with IBM’s Nabeel Nawaz – Technology Magazine

    Radar Technology Offers Contactless Vital Sign Monitoring for Rural Healthcare – AZoSensors

    Revolutionizing Rural Healthcare: How Radar Technology Enables Contactless Vital Sign Monitoring

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Budget relief fails to reach nearly a quarter of SMEs

July 14, 2024
in Business
Budget relief fails to reach nearly a quarter of SMEs
Share on FacebookShare on Twitter

The Federal Government’s 2024-2025 Budget aimed to ease the burden on struggling small businesses.

However, a new survey by Small Business Loans Australia reveals a significant gap between the offered incentives and what many small and medium-sized enterprises (SMEs) actually need. 

While measures like the instant asset write-off and energy relief garnered some support, nearly a quarter (23%) of respondents won’t benefit from any of the initiatives. The survey also sheds light on the preferred alternatives, with tax cuts and wage subsidies topping the list for many SMEs.

The 2024-2025 Federal Budget introduced some relief measures to help small businesses tackle current economic challenges. In an environment of rising costs, weaker demand, labour shortages, and higher interest rates, 7742 companies went into external administration from July 2023 to March 2024 – a 36 per cent rise from the previous year.  

Against this backdrop, Small Business Loans Australia questioned an independent panel of 204 SME business directors and decision makers to gauge which Budget incentives will help them this financial year, listing the extension of the instant asset write off, the Energy Relief Fund, and the Small Business Debt Helpline and free financial counselling services. It also asked respondents what alternative measures they would have liked to see the Government offer. 

How much do SMEs support the Budget? 

Electricity concerns continue to remain a top cost of living issue for households across the country, with electricity prices higher in the quarter from January to March this year compared to last quarter across all regions in Australia1. The survey found that the Energy Bill Relief will help the largest proportion (52%) of businesses. Almost half (49%) of respondents said they will benefit from the instant asset write off.  

The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) saw a 20 per cent increase in requests from small businesses struggling to manage their debts in the quarter from January to March this year2. Despite this, the Debt Helpline and financial counselling services received minimal support with only 11 per cent of respondents believing this would assist them.  

A significant 23 per cent will not benefit from any of the Budget measures. Older business owners and decision-makers are least in favour of the Budget. The proportion of over-55s (35%) who don’t support any of the Budget measures is double that of under-55s (16%).  

Across the states and territories, South Australians are overall the most sceptical respondents in the country, with more than half (53%) saying none of the benefits would help them, followed closely by ACT (50%).  

The ACT had the lowest support for the instant asset write-off, with just 17 per cent of respondents saying it would help them. This compares with 56 per cent of WA respondents and 54 per cent of NSW respondents, who are most in favour of the measure.  

South Australian business owners and decision-makers showed the least support of the Energy Bill Relief, at just 27 per cent. NSW respondents showed the highest support, at 72 per cent, followed by Victorian respondents, at 67 per cent.  

Alternative measures that would have helped SMEs 

A drop in the 25 per cent company tax rate garnered the largest support among respondents – at 52 per cent. This support jumped to 65 per cent among over-55-year-old business respondents. 

Financial help such as wage subsidies are the second-most supported measure, with 41 per cent advocating for it to alleviate the pressure to meet minimum wage requirements. The minimum wage in Australia was increased on 1 July this financial year by 3.75%, seeing an increase to $915.90 per week or $24.10 per hour3. 

Respondents were divided on interest rates. Surprisingly, one third (34%) support the Reserve Bank and the Government in fighting inflation by maintaining or increasing the cash rate, while 39 per cent would benefit from reduced interest rates on loans. 

The survey also showed around a quarter (27%) of respondents would like the Government to bring back SME loan guarantees. In 2021 and 2022, the SME Recovery Loan Scheme offered SMEs secured and unsecured loans of up to $5 million, with capped interest rates and extended repayment periods4. 

Alon Rajic, Founder and Managing Director of Small Business Loans Australia, says these figures could indicate that businesses are looking for immediate financial relief from their debts, as opposed to assistance in just managing them. “In the last tax year, nearly half (43%) of small businesses were not profitable5. Business owners need money back in their bank accounts to help alleviate or minimise their debts, not just manage them. This is reflected in our survey, with strong support for measures such as interest rate cuts to business loans and cuts to company tax rates.”  

The full SME budget incentives study can be found here

Keep up to date with our stories on LinkedIn, Twitter, Facebook and Instagram.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Dynamic Business – https://dynamicbusiness.com/topics/news/budget-relief-fails-to-reach-nearly-a-quarter-of-smes.html

Tags: budgetbusinessRelief
Previous Post

PixieBrix: AI engagement platform

Next Post

Mustafa Announces New Album Dunya, Shares New “SNL” Video: Watch

Winner–loser plant trait replacements in human-modified tropical forests – Nature

May 8, 2025
WTMS Science & Social Studies wins State Championship at Academic Super Bowl Competition – Valpo.Life

WTMS Science & Social Studies Team Clinches State Championship at Academic Super Bowl!

May 8, 2025
Europe turns its back on the wolf and on science – WWF EU

Europe’s Struggle: Balancing Conservation and Controversy Over Wolves

May 8, 2025
Creative and Thoughtful Gifts for Mom – WCPO 9 Cincinnati

Heartfelt and Unique Gift Ideas to Delight Mom

May 8, 2025
Geophysicists pinpoint location of Yellowstone magma reservoir – Physics World

Geophysicists Uncover the Hidden Secrets of Yellowstone’s Magma Reservoir!

May 8, 2025
Economy: China Extends A Hand To The U.S…. But At What Cost? – Cointribune

China Reaches Out to the U.S.: What Are the Hidden Costs

May 8, 2025
Blackstone River Theatre presents music from Scotland with Cantrip – The Valley Breeze

Experience the Enchanting Sounds of Scotland: Cantrip Takes the Stage at Blackstone River Theatre!

May 8, 2025
Sonde Health and Saaya Health Forge Strategic Partnership to Improve Workforce Performance and Wellness for Blue-Collar Enterprises – Business Wire

Transforming Blue-Collar Workplaces: Sonde Health and Saaya Health Join Forces to Boost Performance and Wellness

May 8, 2025
Friedrich Merz calls for US to ‘stay out’ of German politics – The Guardian

Friedrich Merz Urges the US to Keep Its Distance from German Politics

May 8, 2025
Update On How Centers Of Platform Gravity Are Shaping The Cybersecurity Technology Market – Seeking Alpha

How Centers of Platform Gravity Are Transforming the Cybersecurity Technology Landscape

May 8, 2025

Categories

Archives

May 2025
MTWTFSS
 1234
567891011
12131415161718
19202122232425
262728293031 
« Apr    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (592)
  • Economy (603)
  • Entertainment (21,516)
  • General (15,209)
  • Health (9,646)
  • Lifestyle (608)
  • News (22,149)
  • People (606)
  • Politics (610)
  • Science (15,825)
  • Sports (21,113)
  • Technology (15,593)
  • World (593)

Recent News

Winner–loser plant trait replacements in human-modified tropical forests – Nature

May 8, 2025
WTMS Science & Social Studies wins State Championship at Academic Super Bowl Competition – Valpo.Life

WTMS Science & Social Studies Team Clinches State Championship at Academic Super Bowl!

May 8, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version