* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, September 6, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Pendulum Announce Homecoming 2026 Australian Tour – yahoo.com

    Pendulum Announces Thrilling Homecoming Tour Across Australia in 2026

    ITV Studios Launches New Entertainment Label – Global Bulletin – IMDb

    ITV Studios Unveils Exciting New Entertainment Label

    TS Entertainment bringing Malibu Jack’s to former Owensboro mall – Lane Report

    TS Entertainment Launches Malibu Jack’s at Former Owensboro Mall Location

    Jenny Han Dropped a Major ‘The Summer I Turned Pretty’ Easter Egg Revealing [SPOILER] – yahoo.com

    Jenny Han Just Unveiled a Huge ‘The Summer I Turned Pretty’ Easter Egg That Changes Everything [SPOILER]

    Liam Payne’s Cousin Ross Harris Honors Late Singer With Emotional Song ‘Bones’ – yahoo.com

    Liam Payne’s Cousin Ross Harris Honors Late Singer with Emotional New Song ‘Bones

    Country music star apologizes after drunken show ends with cops taking him down: ‘I’m not OK’ – PennLive.com

    Country Music Star Apologizes After Drunken Show Ends in Police Intervention: ‘I’m Not OK

  • 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
    Coherent Joins LLNL’s STARFIRE Diode Technology Working Group to Advance Inertial Fusion Energy – GlobeNewswire

    Coherent Partners with LLNL’s STARFIRE Team to Drive Breakthroughs in Inertial Fusion Energy

    Gene Associated With Deadly Heart Disease in Golden Retrievers Identified – Technology Networks

    Breakthrough Discovery Uncovers Gene Behind Deadly Heart Disease in Golden Retrievers

    Monkey Island LNG Picks ConocoPhillips’ Liquefaction Technology – Hart Energy

    Monkey Island LNG Selects ConocoPhillips’ Advanced Liquefaction Technology for Next-Gen Energy Solutions

    Credo Technology Group Holding Ltd. (CRDO) Surpasses Q1 Earnings and Revenue Estimates – Yahoo Finance

    Credo Technology Group Surpasses Q1 Earnings and Revenue Expectations

    The Economist is hiring a science and technology correspondent – The Economist

    Exciting Opportunity: Become Our Next Science and Technology Correspondent!

    Blockchain lender Figure Technology seeks to raise up to $526M in IPO (FIGR:Pending) – Seeking Alpha

    Blockchain Lender Figure Technology Sets Sights on $526M in Thrilling IPO Launch

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Pendulum Announce Homecoming 2026 Australian Tour – yahoo.com

    Pendulum Announces Thrilling Homecoming Tour Across Australia in 2026

    ITV Studios Launches New Entertainment Label – Global Bulletin – IMDb

    ITV Studios Unveils Exciting New Entertainment Label

    TS Entertainment bringing Malibu Jack’s to former Owensboro mall – Lane Report

    TS Entertainment Launches Malibu Jack’s at Former Owensboro Mall Location

    Jenny Han Dropped a Major ‘The Summer I Turned Pretty’ Easter Egg Revealing [SPOILER] – yahoo.com

    Jenny Han Just Unveiled a Huge ‘The Summer I Turned Pretty’ Easter Egg That Changes Everything [SPOILER]

    Liam Payne’s Cousin Ross Harris Honors Late Singer With Emotional Song ‘Bones’ – yahoo.com

    Liam Payne’s Cousin Ross Harris Honors Late Singer with Emotional New Song ‘Bones

    Country music star apologizes after drunken show ends with cops taking him down: ‘I’m not OK’ – PennLive.com

    Country Music Star Apologizes After Drunken Show Ends in Police Intervention: ‘I’m Not OK

  • 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
    Coherent Joins LLNL’s STARFIRE Diode Technology Working Group to Advance Inertial Fusion Energy – GlobeNewswire

    Coherent Partners with LLNL’s STARFIRE Team to Drive Breakthroughs in Inertial Fusion Energy

    Gene Associated With Deadly Heart Disease in Golden Retrievers Identified – Technology Networks

    Breakthrough Discovery Uncovers Gene Behind Deadly Heart Disease in Golden Retrievers

    Monkey Island LNG Picks ConocoPhillips’ Liquefaction Technology – Hart Energy

    Monkey Island LNG Selects ConocoPhillips’ Advanced Liquefaction Technology for Next-Gen Energy Solutions

    Credo Technology Group Holding Ltd. (CRDO) Surpasses Q1 Earnings and Revenue Estimates – Yahoo Finance

    Credo Technology Group Surpasses Q1 Earnings and Revenue Expectations

    The Economist is hiring a science and technology correspondent – The Economist

    Exciting Opportunity: Become Our Next Science and Technology Correspondent!

    Blockchain lender Figure Technology seeks to raise up to $526M in IPO (FIGR:Pending) – Seeking Alpha

    Blockchain Lender Figure Technology Sets Sights on $526M in Thrilling IPO Launch

    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

Ecology issues $738K penalty against downtown Walla Walla Chevron owner – Union-Bulletin

Ecology issues $738K penalty against downtown Walla Walla Chevron owner – Union-Bulletin

September 6, 2025
What the science says about acetaminophen, pregnant mothers and autism – NBC News

What the science says about acetaminophen, pregnant mothers and autism – NBC News

September 6, 2025
RFK Jr accused of ‘reckless disregard for science and the truth’ in Senate hearing – The Guardian

RFK Jr. Faces Fierce Backlash for ‘Reckless Disregard for Science and Truth’ in Heated Senate Hearing

September 6, 2025
Start The Go-Go Years Today: Ignite Your Early Retirement Lifestyle – Forbes

Start The Go-Go Years Today: Ignite Your Early Retirement Lifestyle – Forbes

September 6, 2025
When Sports Teach More Than Skills – American Enterprise Institute

When Sports Teach More Than Skills – American Enterprise Institute

September 6, 2025
Abby Dow and England near record territory as Australia search for upset – The Guardian

Abby Dow and England Close in on Record as Australia Hunts for an Upset

September 6, 2025
America is getting the economy we voted for – Noah Smith | Substack

America Is Finally Experiencing the Economy We Created

September 6, 2025
Pendulum Announce Homecoming 2026 Australian Tour – yahoo.com

Pendulum Announces Thrilling Homecoming Tour Across Australia in 2026

September 6, 2025
HHS responds to report about autism and acetaminophen : Shots – Health News – NPR

HHS Addresses New Findings on Autism and Acetaminophen Use

September 6, 2025
September 2, 2025: Trump administration news – CNN

September 2, 2025: Trump administration news – CNN

September 6, 2025

Categories

Archives

September 2025
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
2930 
« Aug    
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 (810)
  • Economy (828)
  • Entertainment (21,705)
  • General (16,889)
  • Health (9,869)
  • Lifestyle (841)
  • News (22,149)
  • People (830)
  • Politics (835)
  • Science (16,039)
  • Sports (21,327)
  • Technology (15,808)
  • World (809)

Recent News

Ecology issues $738K penalty against downtown Walla Walla Chevron owner – Union-Bulletin

Ecology issues $738K penalty against downtown Walla Walla Chevron owner – Union-Bulletin

September 6, 2025
What the science says about acetaminophen, pregnant mothers and autism – NBC News

What the science says about acetaminophen, pregnant mothers and autism – NBC News

September 6, 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