Last week, the Treasurer handed down the South Australian Government’s first State Budget.
This Budget shows we are focussed on delivering the commitments we took to the election.
Small and family businesses continue to be impacted by the COVID-19 pandemic, which is why we’re investing $100 million in an Economic Recovery Fund.
This will include several rounds of grants opening over the next four years, helping South Australian businesses to expand and attract further investment.
The South Australian Government is one of the largest customers in the state, so we’re introducing common-sense procurement policies that favour local businesses. By shifting our purchasing habits away from interstate and overseas businesses to local suppliers by just 5 per cent, we can boost our state’s economy by over $400 million per year.
We acknowledge that women often face additional hurdles when starting and growing a business. To help South Australian women overcome these hurdles, we’re establishing the Women in Business Program, encompassing a range of capability building initiatives designed to give female founders the knowledge, tools and contacts required to succeed.
A sector that has been hard-hit by the COVID-19 pandemic – the live music industry – will benefit from a $10 million injection of funding for various initiatives to help venues, musicians, and related businesses get back on their feet.
To ensure our manufacturing businesses can remain competitive, we are committing $10 million over four years to support their innovation and growth. This will include grants to businesses and $4 million to establish a Manufacturing Growth Accelerator with Flinders University.
This week’s Budget also includes significant investment in the skills required to fill staff vacancies and advance key industries.
We are reinstating funding for Adult Community Education, a $1 million per year commitment to equip adult learners with the foundation skills required to gain employment.
This Budget has been well considered and carefully formed to balance the need for economic sustainability with a vital injection of funds into our key health and education services, while ensuring it offers support for businesses like yours to recover, grow and thrive.
There is much work to be done, and I look forward to the new programs commencing shortly.
The Hon. Andrea Michaels MP
Minister for Small and Family Business
