State Budget 2021-22: A budget focused on jobs growth, but have opportunities been missed to accelerate businesses recovery?
The Chamber of Commerce and Industry Queensland (CCIQ) has urged the Queensland Government to accelerate recovery for 84 per cent of businesses still struggling in the wake of COVID-19.
Following today’s budget announcement, the chamber welcomed the $3.34 billion set aside for the Queensland Jobs Fund to help businesses grow, scale and employ new staff, as well as the $1 billion boost to skills and training.
CCIQ General Manager for Policy and Advocacy, Amanda Rohan said the policies would help shape a modern economy that’s diversified, resilient and sustainable.
However, there were some missed opportunities to support small businesses with their Covid-19 recovery.
“Businesses across Queensland, and across all industries, have unique challenges when it comes to finding workers with the right skills, a challenge that existed before Covid-19,” Ms Rohan said.
“The Big Plans for Small Business Strategy is well targeted, but it only covers us for the next year or two and we know there is huge demand. This month the Business Basics grant closed within three hours of opening.
“This budget is a step in the right direction, but economic recovery is a marathon and we need funding to go the distance.
“Crucially, this support should commit to transforming Queensland’s economy, particularly in regional areas.
“There must also be a stronger focus on tackling key areas for reform including reducing the regulatory burden, and step changes to payroll tax and unlocking opportunities for growth.
“It’s more important than ever to give focus on priorities that grow our economy.”
Ms Rohan said key areas for reform included reducing the regulatory burden, changes to payroll tax and opportunities for growth.
“By reforming payroll tax we can achieve broader objectives through concessions and waivers to create new jobs and targeted incentives for those adopting sustainable practices.
“CCIQ urges the Queensland Government to begin using national cabinet as a forum for advocating for broader holistic reform at a federal level which in turn would allow for major changes to payroll tax at the state level.
“Queensland is a small business state with more the 97 per cent operating as sole traders or employing teams up to 19 staff.
“They employ more than one in three working Queenslanders and contribute $122 billion (33.9 per cent) to the state’s economy.
“Small to medium enterprises also need a simplified tender process to access procurement and reduce payment terms to five days.
“The Queensland Government spends approximately $4 billion on general goods and services.
“Small businesses have the capacity to supply a significant proportion of this while delivering favourable outcomes for the regions.”
Ms Rohan said CCIQ would continue its advocacy on procurement processes to unlock the potential for small businesses.
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