Day Two of the Federal Government election campaign, so how about we get straight to the significant issues? We have repeatedly heard the frustrations and concerns from the South Australian business community through our quarterly the South Australian Business Chamber William Buck Survey of Business Expectations. The skills shortage is the biggest issue facing business outside of COVID-19, such that three-quarters of small business operators are working extra hours to cover staff shortages. Overtime has soared in over a third of businesses as they struggle to source labour. Here at the South Australian Business Chamber, we have seen these challenges first-hand while trying to fill our own job vacancies.
The recent Federal Budget included a boost for skills and training for small businesses to train new staff and upskill existing staff, helping them to be innovative and grow. Small businesses will be able to claim a 20 per cent tax deduction for the cost of external training courses delivered to employees in Australia or online by providers registered in Australia.
The Boosting Apprenticeship Commencements scheme is currently extended until 30 June 2022. So firstly, get in quick to secure that 12-month 50% subsidy if you are considering an apprentice or trainee. Here at the South Australian Business Chamber, we encourage business owners and employers to build the right skills mix within their own organisation through apprenticeships or traineeships. Often, these are young workers who bring fresh ideas and a different perspective to your business. Alternatively, a mature apprentice or trainee will bring years of experience to your business. Either way, as the business owner or employer, you will benefit from having this training within your organisation.
We have checked in with our corporate members on what is needed. MAS National State Manager Kara Prichard says that financial measures provided for apprenticeships and traineeships support increased business confidence and to take on new staff to meet demand. MEGT State Manager Ja Turnbull agrees that these financial measures are needed to ensure a business can meet its opportunities in a growing economic environment.
But is it enough?
As we proceed through the 2022 Federal Election campaign, as we did not so long ago with the State Election campaign, the South Australian Business Chamber will push for the best business conditions. This means prioritisation of skills development, of which apprenticeships and traineeships are just one part of the puzzle. We believe that businesses are the engine room of our economy. Businesses generate new ideas, deliver new services and propel us forward. Businesses create jobs, attract new investment and pay taxes. Businesses put food on tables and create wealth for many.
