As a critical part of Australia’s economy, the Albanese Labor Government continues to support small business entry and growth, and promote innovation and dynamism.

A re-elected Albanese Labor Government will deliver:

• Delivering energy efficiency grants for small and medium-sized businesses to fund a range of energy upgrades.
• Extension of the $20,000 Instant Asset Write Off for 12 months.
• $7.1 million over 2 years to strengthen enforcement of the Franchise Code.
• Pausing the indexation on draught beer excise and excise equivalent custom duty rates.
• Increasing support available under the existing Excise remission scheme for manufacturers of alcoholic beverages and Wine Equalisation Tax Producer rebate.
• Working with states and territories to extend Unfair Trading Practice protections to small businesses.
• Extending protections from Unfair Contract Terms and Unfair Trading Practices to businesses regulated by the Franchising Code, subject to consultation.

Since we were elected in 2022, the Albanese Labor Government has delivered:

• $800 in energy bill relief for small businesses over the last 3 budgets.
• $56.7 million in Energy Efficiency Grants of up to $25,000 to over 2,400 small and medium-sized businesses.
• Tax cuts for every taxpayer, benefitting 1.5 million sole traders.
• Promoting prompt 20-day payment times for contractors and subcontractors in the construction industry for work completed for Government Business Enterprises undertaking major construction activity, such as the NBN Co Ltd.
• Significant cash flow support to small businesses through extensions to the instant asset write-off.
• $60 million to help small businesses uplift their digital and cyber security capabilities through the Digital Solutions program, Cyber Wardens program, Small Business Cyber Resilience Service and Cyber Health Check.
• Helping small and medium businesses compete for and win more government contracts, updating the Commonwealth Procurement Rules to increase significantly the small and medium business participation target.
• Developed landmark National Small Business Strategy with the states and territories.
• $25.9 million to support the mental health and financial wellbeing of small business owners through the NewAccess for Small Business Owners program and the Small Business Debt Helpline.
• $33.4 million to improve payment times for small businesses.
• $25.3 million to support the overhauled Payment Times Reporting Scheme and enhance the Regulator’s ability to deliver better payment outcomes for small businesses.