State budget to supercharge small business

The Queensland Government has announced $39.1 million in the State Budget 2022–23 to support small businesses over the next four years to transition from recovery to growth.

Key budget highlights include:

• Payroll tax cuts will see more than 12,000 businesses with payrolls under $10.4 million save up to $26,000 per year.
• Permanent ongoing funding for small business grants to continue to assist businesses to start and grow.
• Ongoing funding for the Mentoring for Growth initiative to continue to provide support to small business owners and operators through free business mentoring.
• A $6.75 million Small Business Wellness and Support package to help those businesses hardest hit by the pandemic and the recent floods.

For more information, visit the State Budget website.