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Big Plans for Small Business 2 WORKING TOGETHER for QUEENSLAND BIG PLANS for SMALL BUSINESS

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Big Plans for Small Business 2 WORKING TOGETHER for QUEENSLAND BIG PLANS for SMALL BUSINESS 2020 POLICY DOCUMENT Big Plans for Small Business 2 WORKING TOGETHER FOR QUEENSLAND BIG PLANS FOR SMALL BUSINESS WORKING TOGETHER FOR QUEENSLAND WORKING TOGETHER FOR QUEENSLAND BIG PLANS FOR SMALL BUSINESS 1 Message from the Premier My Government knows that small businesses are the engine room of the Queensland economy, working across every industry sector. Queensland is home to more than 445,000 small businesses, employing almost one million Queenslanders. They are vital to our communities, providing local jobs and supporting our towns and regions. A re-elected Palaszczuk Government will continue to help small businesses grow from developing products in their garage to being export ready. The Palaszczuk Government has supported more than 18,000 small businesses across Queensland, through our $196 million Small Business Adaption Grants program. Queensland’s Economic Recovery Plan has supported businesses to help keep 334,000 Queenslanders in jobs. I am proud that earlier this year we were able to introduce a target - that from 1 July, 25 per cent of all government purchases would be from Queensland small and medium sized businesses. Big Plans for Small Business is all about creating jobs and future proofing Queensland. We have already announced $8 billion in measures to support Queenslanders through COVID-19, including assistance for workers and businesses. We are committing to having a Small Business Commissioner for the future, one that can continue to advocate for, support and provide information to small businesses and empower them to drive economic growth across Queensland. While these are challenging times, we will continue to back our small businesses to ensure they can recover, reopen and build a strong future for all Queenslanders. Annastacia Palaszczuk PREMIER OF QUEENSLAND 2 WORKING TOGETHER FOR QUEENSLAND BIG PLANS FOR SMALL BUSINESS Our Commitment A re-elected Palaszczuk Government will build on our support of more than $2.3 billion in tax relief, grants, electricity rebates and loans for small to medium sized businesses with another $140 million to support big plans for small business. $100 million from the Backing Queensland Business Investment Fund to support private investment An initial $100 million Business Investment Fund to invest in small to medium sized businesses that have both significant growth potential in Queensland and will utilise funds to create Queensland-based jobs. This fund can be used to support businesses to innovate or to expand into new markets, including overseas. The fund will be managed by Queensland Investment Corporation. Continuation of the highly successful Mentoring for Growth Program. $30 million investment to increase skills and capability $25 million grants package, focusing on priority industry sectors $1 million worth of grants to support businesses ready to grow into international markets Develop a Business Ready website to provide easy access to critical information to support businesses to grow. $10 million to make it easier to do small business in Queensland The permanent appointment of a Small Business Commissioner who will work with the newly established Office of Productivity and Red Tape Reduction, to continue to deliver small business regulatory reform to assist in their recovery. Targeted engagement strategies and a re-invigorated Small Business Advisory Council Establishment of Summertime Taskforce to investigate how businesses can move outdoors WORKING TOGETHER FOR QUEENSLAND BIG PLANS FOR SMALL BUSINESS 3 Our Plan for Queensland $100 million from the Backing These grants will focus on increasing Queensland Business Investment access for regional small businesses, Fund to support private investment as well as priority industry sectors, including women, young people, social A commitment of an intial $100 million from enterprises, ATSI people and business the Business Investment Fund to invest in owners from CALD backgrounds small to medium sized businesses that have Investigate how government agencies significant growth potential in Queensland with large telecommunications services and will utilise funds to create secure can best use their service demand to Queensland jobs. bring better connectivity to other areas of Queensland This fund can be used to innovate and support the growth needed to support Support small businesses who are ready expansion into international markets. to develop into new global markets, with a further $1 million in grants Small Businesses employ close to 1 million Develop a Business Ready website that Queenslanders and supporting their recovery will allow small businesses to access through COVID-19 is crucial to Queensland’s the information they need in the manner economic recovery and supporting in which they need it Queensland jobs into the future. Continue to celebrate the successes of $30 million investment to increase small businesses across the state and skills and capability share information, facilitate training opportunities, foster innovation, The Palaszczuk Government will: access support services and provide opportunities for small business to Support small businesses through a collaborate with government, through a $25 million Small Business Grants continuation of Small Business Month. package, to support small businesses to grow, innovate, and access new markets. 4 WORKING TOGETHER FOR QUEENSLAND BIG PLANS FOR SMALL BUSINESS Continue the highly successful Make it easier to do business with Mentoring for Growth program by the government by working with assisting in the recruitment, training small business to make it easier for and development of mentors targeting them to benefit from the Palaszczuk regional areas, and other specific Government’s 25% procurement cohorts including ATSI, Women, CALD target. Also continue to engage with and Startups small business through the Queensland Small Business Advisory Council $10 million to make it easier to do The Small Business Commissioner small business in Queensland will also work with the newly established, Office of the Productivity Key commitments of our $10 million package and Red Tape Reduction, to continue to include: deliver small business regulatory reform to assist in their recovery Establish an Office of theSmall Business Commissioner to work with Summertime Taskforce - Identifying small businesses to drive productivity ways we can make best use of and advocate for small business owners Queensland’s great weather, facilitate across the state usage of outdoor areas, on-street dining, and revitalise our CBDs. Support a diverse small business sector with targeted strategies to support women, Aboriginal and Torres Strait Islander people, and people who are culturally and linguistically diverse WORKING TOGETHER FOR QUEENSLAND BIG PLANS FOR SMALL BUSINESS 5 The Palaszczuk Government’s Record Since 2015 the Palaszczuk Government Small Business Digital Grants supported Queensland businesses program — enabling small businesses under the Advancing Small Business to access the latest digital technologies Queensland Strategy through grants, and embrace opportunities arising from Mentoring for Growth and Business digital disruption through matched grant Queensland resources. funding of up to $10,000 Small Business Entrepreneur Grants Small businesses make up 97% of all program — helping newly started businesses in Queensland and employ businesses to access professional almost 1 million Queenslanders, providing advice and support with up to $5,000 in vital jobs in local communities and fuelling matched funding our state's economic growth. Mentoring for Growth program — Since 2015, the Palaszczuk Government has offering eligible businesses access to a invested $26.2 million to deliver a range of 90-minute panel of up to six volunteer programs and services under the Advancing business experts who offer insights, Small Business Queensland Strategy, to options and suggestions on business support small businesses including: challenges relating to growth and innovation Business Growth Fund — helping Mentor Chats — supporting early stage businesses purchase and implement and start-up businesses requiring one- highly specialised equipment or on-one assistance to address particular services through co-contribution grants issues or business challenges of up to $50,000 6 WORKING TOGETHER FOR QUEENSLAND BIG PLANS FOR SMALL BUSINESS Advancing Women in Business — Committed $1.2 million to establish a recognising the valuable contribution regional network of business support of women in business to Queensland’s officers in partnership with the economy, by providing support and Chamber of Commerce and Industry programs to assist more women to start Queensland and grow their own business $1 billion in interest free/low interest Advancing Indigenous Business business loans with 86% going to — is delivering targeted support for small biz Aboriginal and Torres Strait Islander Introduced a procurement target of people who are business owners and 25% of all government spending to go operators, enabling them to unlock their to small and medium sized businesses – full potential to start and grow their own approximately $4 billion per year business $500 million Backing Queensland Allocated $18 million to small Business Investment Fund to invest in businesses through grants under the other areas of the economy - to support strategy, to assist new businesses to good quality Queensland Businesses work smarter, maintain resilience, and that need capital to create jobs assist with
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