Last week, the South Australian Government delivered its 2023-24 State Budget.
This Budget outlines significant investments in housing, health, and child protection.
It delivers cost of living relief, providing $471.3 million for South Australians who need it most, in the largest package of relief measures ever deployed in South Australia.
It is also an important State Budget for Small and Family Business.
In the face of global economic headwinds, the government is investing in opportunities and initiatives to grow jobs and drive the economy, ensuring our state is the best place to live, work and invest.
Under the Budget, an additional $6.5 million has been allocated to the Small Business Strategy, which is now a $14.25 million investment with 20 key initiatives to strengthen our partnerships with business, industry and community-based organisations, particularly in regional areas.
These initiatives will boost the capability and capacity of South Australian businesses to operate, plan for sustainability, and to take advantage of opportunities to improve their competitiveness and productivity.
An investment of $20 million to the state’s Research and Innovation Fund will continue to support researchers, entrepreneurs and businesses to accelerate their progress with funding programs.
As previously announced in the Federal Budget, from 1 July 2023 more than 86,000 eligible South Australian small businesses and 420,000 households will see a welcome relief to their energy bills under the Energy Relief Plan.
Under this $127.2 million investment by the South Australian Government, matched dollar for dollar by the Federal Government, households eligible under the plan will receive rebates of up to $500, while eligible small businesses will receive rebates of up to $650.
There are many more initiatives outlined in the budget that will benefit South Australians. To view the full Budget Papers, visit statebudget.sa.gov.au
The Hon. Andrea Michaels MP
Minister for Small and Family Business
