Budget2017: certainty for SMEs

Opportunities created for Australian small businesses in the federal budget will be important for encouraging more investment in the industry, according to ANZ GM small business banking Kate Gibson.

" For… small business operating in those areas [infrastructure funding is] going to create opportunities."
Kate Gibson, GM Small Business Banking ANZ 

Speaking on video after the release of the budget, Gibson said stability was a vital factor.

“What we all want to see is stability and certainty,” she said. “If last night’s budget can give us that we can see small business owners being confident to invest [and that] will be good for the Australian economy.”

Budget2017: certainty, opportunity for SMEs

Gibson said SME owners would be pleased with changes to rules around assets, which allow expenses of up to $A20,000 in depreciating items each year to be claimed by companies with a turnover of less than $10 million.

“It’s a very sensible extension,” she said. ‘In fact we would have liked to have seen this made permanent.”

Gibson also praised the government’s infrastructure announcement, which will see $A75 billion in funding rolled out over the next 10 years.

“For contractors and traders and any small business operating in those areas it’s going to create opportunities going forward,” she said.   

Gibson also touched on incentives announced to tackle red tape and the implications of the new foreign worker levy. Watch the video above to find out more.

Gabrielle Mitchell is a contributing editor at bluenotes 

You can read BlueNotes’ FULL COVERAGE of #Budget2017 HERE

The views and opinions expressed in this communication are those of the author and may not necessarily state or reflect those of ANZ.

editor's picks

10 May 2017

Budget2017: carrots, sticks and steel

David Plank | Head of Australian Economics at ANZ

The Australian Commonwealth Budget maintains a projected return to surplus in 2020-21. This infographic spells out the details.

10 May 2017

VIDEO: the key to Budget2017

Richard Yetsenga | ANZ chief economist

The Australian Government has attempted an ambitious budget tonight and should be welcomed.

11 May 2017

The ten biggest Twitter themes of #Budget2017

Shane White | Senior production editor, bluenotes

Here’s what set the world of social alight on the night of the budget.