Small business initiatives
The Government understands the pressures facing small businesses, and is working to ease the burden on small businesses through the following initiatives:
Red Tape Reduction Advisory Council
The Council will recommend areas in which red, green and blue tape can be reduced to ease the regulatory burden for small business.
Business and Industry Portal
The Government is providing an additional $4.7 million in 2015–16 to continue to enhance and transform how the Queensland Government delivers online services. The Portal will provide a one-stop shop for business and industry to interact with government.
Queensland Small Business Advisory Council
The Council will provide direct input to the Government on issues facing the small business sector.
Home Based Business Program
As part of the Queensland Entrepreneurs of Tomorrow initiative, the Government is providing funding of $1 million over three years for the Home Based Business Program. The program will support stay-at-home parents who want to establish and develop home-based businesses, while maintaining a healthy balance between work and family.
Payroll tax rebate for apprentices and trainees
Employers who hire apprentices and trainees will receive a payroll tax rebate of 25 per cent on their wages in addition to their wages being exempt from payroll tax up to 30 June 2018.
The rebate will be used as an offset against payroll tax payable on the wages of other employees, and will enable Queensland to continue developing a highly skilled workforce into the future.
The Government is providing this incentive at an estimated cost of $45 million over the next three years.
Business Development Fund
Attracting investment and fostering innovation are vital to support the diversification, growth and development of the Queensland economy and to create more high-value jobs.
To assist innovative and emerging industries, the Government is establishing the $40 million Business Development Fund as part of the $180 million Advance Queensland package.
Over the next four years, the Fund will provide early stage venture capital to emerging and growing innovative Queensland businesses.
Investments, up to a defined limit, will be made on a matching basis with private sector co-investors.
QIC has been tasked to administer the fund and will be supported by an investment panel made up of independent experienced investors with a strong history in entrepreneurship and early stage investment.
The Fund will help Queensland’s best and brightest make their ideas and innovations a commercial reality and create opportunities for new high-value and skilled employment.