The government has allocated $392 million to an Industry Growth Program designed to provide advice and grants to start-ups and small-to-medium businesses.
The program aims to support the commercialisation of ideas and foster growth in priority funding areas, including renewables and low-emissions technologies, medical science, transport, resources, and the agriculture, forestry, and fisheries sectors.
Minister for Industry and Science Ed Husic emphasised the program’s potential to drive innovation and development in these key industries.
Considering these changes, small businesses may face challenges in making necessary investments without the previous tax breaks. However, there are alternative solutions available.
Quick business loans, or fast funding options, can provide the necessary financial support for businesses looking to expand, upgrade equipment, or invest in growth opportunities. With the 2023 budget and its revised tax incentives as a backdrop, it becomes even more important for businesses to explore financing options that can help them navigate the changing landscape and take hold of new opportunities.
As a small business owner, if you’re looking to get the funds necessary to sustain and expand your business, we recommend that you consider getting a small business loan.
At Capify, we provide customised small business finance options that cater to the specific requirements of small businesses. Our solutions are flexible and tailored to meet your needs. Whether you need capital for equipment, inventory, or operational expenses, a business loan can provide the necessary financial flexibility to pursue your ambitions.
Empower your business to thrive and seize new opportunities with Capify’s business financing options.
Act now to explore the financing options available to you that can support your business’s goals and help it thrive.