The Australian Business Growth Fund is a short-sighted proposal which ignores red tape and industrial relations as the major constraints on small business growth in Australia.
The fund, announced by the Prime Minister on Tuesday, would see the federal government partnering with banks to provide small and medium business owners with equity. The assumption is that access to credit is the key constraint on small business growth. However, this is not supported by the best [...]
Government told to reduce SME red tape amid $100m growth fund announcement:The government’s plan to introduce a small business growth fund has been met with mixed responses, with calls to reduce red tape repeated.3 May 2019
Prime Minister Scott Morrison has announced that, if re-elected, the government will create an Australian Business Growth Fund to help SMEs with annual turnovers between $2 million and $50 million get access to finance.
The $100 million growth fund is expected to assist 30 to 50 businesses each year.
Separately, Mr Morrison has also pledged to create 250,000 new small businesses over the next five years.
“Small business growth in Australia requires less red tape, not another [...]