Get unlimited access. Save 70% when you subscribe today.

SmartCompany
Icon

Search

Create a free account, or log in

Federal Budget 2023

Budget 2023: Small business expects lower spending, but calls for red tape reduction and support

Small business leaders do not expect Tuesday’s federal budget to funnel cash towards the sector, instead predicting policies designed to shield local enterprises without worsening inflation.
David Adams
David Adams
Icon

Share

Source: AAP Image/ Lukas Coch

Small business leaders do not expect Tuesday’s federal budget to funnel cash towards the sector, instead predicting policies designed to shield local enterprises without worsening inflation.

Speaking to SmartCompany ahead of the 2023-2024 federal budget, figures across the SME landscape said the kind of cash-splashing policies that protected business through COVID-19 lockdowns are rapidly fading into the past.

With annual inflation sitting at 7%, measures benefiting small businesses through higher consumer spending are unlikely, said Gavan Ord, business policy and investment manager, at CPA Australia.

Sign up to continue

Explore the series

Federal Budget 2023

SmartCo’s coverage of the Federal Budget 2023.

  1. Your A-Z for the 2024 federal budget: The ultimate glossary
  2. Government plans to push for $1 billion small business tax break ahead of June 30 deadline
  3. Budget 2023: What the halving of the PAYG and GST instalment increase means for small business
  4. Small businesses must start planning as two key tax measures are set to end on June 30
  5. Small gains, big crackdowns: What the tax measures in the budget mean for small business
  6. “Hurts working Australians”: Peter Dutton addressed cost-of-living in budget reply
  7. Exclusive: Small Business Minister Julie Collins on how SMEs can get the most out of budget 2023
  8. Opinion: Why scrapping the Entrepreneurship Facilitators program affects the most vulnerable
  9. Fake news watchdog and digital IDs: The hidden announcements you might have missed in budget 2023
  10. How the federal budget may change the RBA’s view on interest rate hikes
  11. 325,000 extra Australians help Labor deliver the first surplus since Costello
  12. Explained: The $20,000 instant asset write-off and how small business got here
  13. Budget 2023: $111 million cut from self-employment training program with entrepreneurship scheme facing axe
  14. “Not on the sideline, not in the spotlight”: COSBOA’s Matthew Addison reviews the budget for small business
  15. “Smoke and Mirrors”: Startups react to the 2023 budget
  16. Budget 2023: ACCC to begin work on “super complaints” pathway to fast-track small business grievances
  17. Budget 2023: Upgrade your Prius, because benefits for hybrids are set to end by 2025
  18. Budget 2023: ATO offers late payment penalty amnesty to SMEs as it claws back billions in COVID-era debt
  19. Budget 2023: $101 million to help Australian businesses adopt AI and quantum tech
  20. Budget 2023: PAYG and GST instalment increase halved to boost cash flow for 2.1 million small businesses
  21. Budget 2023: $392.4 million for startups and SMEs from new Industry Growth Program
  22. Budget 2023: $290 million instant asset write-off scheme extension promises $20,000 threshold for small businesses
  23. Budget 2023: Budget shows Labor – finally – recognises how vital small businesses and startups are to Australia’s economy
  24. Ten things startups need to know about the 2023 federal budget
  25. Budget 2023: $23.4 million for small business cyber wardens program, delivered by COSBOA
  26. Budget 2023: 13 key measures for small business in the 2023 federal budget
  27. “Women small business owners are an untapped resource”: Here’s how budget 2023 should prioritise them
  28. $1.5 billion in ‘bonus’ tax deductions for small business stuck in legislative limbo despite bipartisan support
  29. Budget 2023: 13 things SMEs and startups need to know for Tuesday
  30. Half of Australia’s GDP: Why the budget should focus on SME growth
  31. Energy relief, JobSeeker and more put Labor’s cost-of-living package at $14 billion
  32. Budget 2023: Small business expects lower spending, but calls for red tape reduction and support
  33. 65% of SMEs don’t expect the federal budget to help them: MYOB survey
  34. Budget 2023: Startup founders call for tax breaks and sustainability pledges
  35. Budget 2023: Seven predictions for how small businesses could benefit
  36. SMEs face obstacles in Chalmers’ $20k tax break for installing solar and more
  37. Giving small businesses a better deal in the upcoming federal budget a top priority for 72% of Australians: MYOB survey
  38. Up to $20k tax break for SMEs that install solar, electrify heating, and more in pre-budget promise
  39. Social enterprises can help with the budget bottom line. Here’s how
  40. Six “urgent” actions the government can take to support women in the 2023 federal budget
  41. Thirteen ways to bridge the $70 billion a year deficit in our budget
  42. Federal budget 2023 is an opportunity to make SMEs cyber secure

About the author

David Adams

David Adams

Senior Business Journalist

Focused on the small business sector, David’s work covers the political, regulatory, and economic issues facing Australian entrepreneurs. Prior to joining SmartCompany, he was a reporter for Business Insider Australia. You can follow him on LinkedIn.

Similar topics

australian federal budget 2023
budget 2023
federal budget 2023
small business budget
small business budget 2023
small business budget requests
small business budget wish-list
small business federal budget 2023
smes budget 2023

Recommended for you