Tuesday, 22 June 2021
The South Australian Business Chamber celebrates the forecast 3.5% economic growth next financial year.
The South Australian Business Chamber CEO Martin Haese says: “The 2021/22 State Budget underwrites South Australia as an attractive and cost competitive place to do business, although not providing any real peace of mind for businesses should South Australia find itself in another COVID lockdown.”
“Unfortunately, the Budget lacks tailored support programs for hard working business owners that have borne the brunt of seismic uncertainty over the last 15 months.
The South Australian Business Chamber encourages the State Government to support existing business owners to develop and grow their businesses.
“This support is the recipe for addressing unemployment and under-employment across many industries.”
“The announced jobs and economic growth fund investing $200 million over the next four years should be allocated to supporting business owners.“
The South Australian Business Chamber is advocating for tailored support programs that support and enable the growth of SMEs across South Australia. These programs could include strategic planning, supply chain management, financial literacy, digital innovation, export education … the list goes on.
“As the State’s largest employer, owners of SMEs collectively hold the keys to South Australia’s most substantive growth opportunities. With over fifty thousand SMEs employing people across the State, upskilling business owners could lead to real employment growth.”
The South Australian Business Chamber welcomes the news of a $4 million extension of the Great State Voucher scheme. This was one of the 13 recommendations made by the South Australian Business Chamber in its pre-State Budget submission.
“Although many businesses have returned to strong levels of trade over the last 8 months, city accommodation, tourism, conferencing, education, retail and hospitality operators have been among the hardest hit as a result of closed international borders and ongoing capacity restrictions.”
Funding for large infrastructure projects including the North-South Corridor, $80 million for additional works on the Strzelecki Track upgrade, $180 million for the next stage of the duplication of the Augusta Highway and $60 million over 2 years to undertake further works on the Heysen Tunnels will create jobs for South Australians and opportunities for businesses to take on additional work and increase employment.
“While not unexpected, this further secures opportunities for regional tourism, especially as international borders re-open”.
Already announced, the South Australian Business Chamber considers the extended payroll tax exemptions for employers who take on trainees and apprentices a big win for skills and businesses across South Australia.
“The South Australian Business Chamber called for this to be considered in our pre-Budget submission and are pleased that so many businesses will be able to access this, however we strongly encourage the State Government to support the estimated 19,000 small businesses and not-for-profits with a payroll of less than $1.5 million that are unable to access the benefits of this scheme.”
In a double shot of positivity for business, the downward trend of water and energy prices reduces business costs and stimulates consumer spending.
The South Australian Business Chamber will host Treasurer Rob Lucas at Adelaide Oval for a complete Budget Summary Luncheon on Friday July 2.
